India’s benchmark indices, BSE Sensex and NSE Nifty 50, scaled fresh all-time highs on Thursday (Nov 27) fueled by global rate cut hopes and easing crude prices, before ending with slim gains amid late-session profit taking. The Sensex closed up 110.87 points or 0.13% at 85,720.38, after peaking at 86,055.86 intraday. The Nifty 50 settled 10.25 points or 0.04% higher at 26,215.55, having touched 26,310.45 during trade.
Market Drivers and Global Cues
Optimism over potential US Federal Reserve and RBI rate cuts next month propelled the rally, alongside falling Brent crude around $63 per barrel on Russia-Ukraine peace talks. Foreign portfolio investors bought Rs 4,778 crore worth of shares, while domestic institutions net purchased Rs 6,248 crore. Asian markets like Nikkei and Kospi advanced, mirroring Wall Street gains in tech amid Fed cut expectations. Earnings revival hopes for Q3-Q4 FY26, driven by consumption boom, further supported sentiment.
Sectoral Performance
Banking led with Nifty Bank hitting a record 59,554.95, closing 1.2% up at 59,528.05, boosted by ICICI Bank and HDFC Bank. Media, auto, pharma, and private banks gained 1-2%, while energy, consumer durables, and realty saw selling pressure. Midcap and smallcap indices dipped 0.1-0.3%, reflecting cautious breadth. Nifty hovered near its prior peak of 26,277.35 from September 2024, with resistance at 26,350-26,500.
Top Gainers and Losers
Financials dominated gains in Nifty 50 and Sensex.
Top 5 Gainers:
Bajaj Finance: +2.43%
ICICI Bank: +1.37%
Shriram Finance: +1.33%
Hindustan Unilever: +1.23%
Bajaj Finserv: +0.95%
Top 5 Losers:
Adani Enterprises: -2.85%
Eicher Motors: -2.70%
Eternal: -1.52%
ONGC: -1.51%
Maruti Suzuki: -1.51%
Outlook and Key Levels
Analysts eye sustained closes above 26,277 for Nifty upside to 27,000, with support at 26,100-26,000. Volatility persisted ahead of economic data, but bullish construct prevails with high FII shorts. Market capitalisation neared record levels, signaling robust risk appetite despite elevated valuations. Investors remain watchful for Q3 earnings and policy cues.