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Key gauges end flat amid volatility on Friday
Nov-28-2025

Indian equity benchmarks ended flat with negative bias on Friday as fresh foreign fund outflows and largely muted global market trends kept the stock markets rangebound. Foreign institutional investors sold equities worth Rs 1,255.20 crore on a net basis on Thursday, according to exchange data.

Some of the important factors in trade:  

States' capital outlay to grow: Crisil Ratings’ report stated that capital outlay of states is expected to grow from four per cent to six per cent in the current financial year touching approximately Rs 7.5 lakh crore. 

India to lead emerging market growth with 7% GDP rise in 2025: Moody's Ratings has said with a 7 per cent GDP expansion in 2025 and 6.4 per cent in the next year, India will lead growth among emerging markets and across the Asia Pacific region.

Rupee falls against US Dollar: Indian rupee dropped against the US dollar, tracking a strong greenback and a rise in crude oil prices in the international market. The Indian currency was also weighed down by subdued equity market sentiment and the withdrawal of foreign funds. 

Textile stocks remain in watch: The government has approved the Textiles Focused Research, Assessment, Monitoring, Planning and Start-up (Tex-RAMPS) Scheme, to strengthen research, innovation and competitiveness in textiles sector.

Global front: European markets were trading mostly in green on rising bets of a Federal Reserve interest-rate cut in December and growing hopes for a peace deal between Russia and Ukraine. Asian markets ended mixed as China industrial profits data disappointed and China Vanke proposed to delay repayment of an onshore bond, rekindling worries about China's property market. 

Finally, the BSE Sensex fell 13.71 points or 0.02% to 85,706.67 and the CNX Nifty was down by 12.60 points or 0.05% to 26,202.95.  

The BSE Sensex touched high and low of 85,969.89 and 85,577.82 respectively. There were 11 stocks advancing against 19 stocks declining on the index.   

The broader indices ended in red; the BSE Mid cap index fell 0.04%, while Small cap index was down by 0.13%.

The top gaining sectoral indices on the BSE were Auto up by 0.55%, Healthcare up by 0.36%, FMCG up by 0.23%, Metal up by 0.23% and Consumer Discretionary up by 0.18%, while Oil & Gas down by 0.97%, Telecom down by 0.91%, Energy down by 0.64%, Power down by 0.57% and Utilities down by 0.37% were the top losing indices on BSE.

The top gainers on the Sensex were Mahindra & Mahindra up by 2.07%, Sun Pharma up by 1.17%, Kotak Mahindra Bank up by 0.79%, SBI up by 0.69% and Hindustan Unilever up by 0.65%. On the flip side, Power Grid Corporation down by 1.35%, Eternal down by 0.83%, Bharti Airtel down by 0.70%, Axis Bank down by 0.55% and Trent down by 0.41% were the top losers.

Meanwhile, the finance ministry in its latest report has said that the GST rate rationalisation gave a measurable boost to consumption, and the Indian economy is on a stable footing to navigate risks and maintain growth momentum through the current fiscal. It stated said that with inflationary pressures easing and recent tax reforms boosting household disposable incomes, the near-term consumption outlook appears increasingly positive. 

It mentioned retail inflation has reached an all-time low in the current series, dropping to 0.25 per cent in October 2025, down from 1.44 per cent in September 2025. The decline can largely be attributed to the complete impact of reduced GST rates, a favourable base effect, and significant falls in food inflation. It said ‘The rationalisation of GST rates has provided a measurable boost to consumption, as reflected in the strengthening of high-frequency indicators, including higher e-way bill generation, record festive-season automobile sales, robust UPI transaction values, and a notable rise in tractor sales.’ 

It said that these developments point to broad-based improvements in demand conditions across both urban and rural segments. The full impact of GST rationalisation on spending behaviour would become more evident over the next two quarters.  Effective September 22, the GST rates on about 375 items were slashed, making mass consumption items cheaper. Also, GST rates of 5, 12, 18, and 28 per cent have been clubbed into two rates of 5 per cent and 18 per cent, resulting in a reduced price of 99 per cent of daily use items.

CNX Nifty touched high and low of 26,280.75 and 26,172.40 respectively. There were 19 stocks advancing against 29 stocks declining, while 2 stocks remained unchanged on the index.    

The top gainers on Nifty were Mahindra & Mahindra up by 2.17%, Adani Enterprises up by 1.20%, Sun Pharma up by 1.20%, Kotak Mahindra Bank up by 0.71% and Eicher Motors up by 0.66%. On the flip side, SBI Life Insurance down by 1.72%, HDFC Life Insurance down by 1.36%, Power Grid Corporation down by 1.35%, Shriram Finance down by 1.35% and Eternal down by 0.74% were the top losers.

European markets were trading mostly in green; UK’s FTSE 100 increased 14.57 points or 0.15% to 9,708.50 and France’s CAC rose 10.23 points or 0.13% to 8,109.70, while Germany’s DAX lost 25.46 points or 0.11% to 23,742.50.

Asian markets ended mixed on Friday as China's real estate sector came under fresh pressure after China Vanke asked to delay repayment on a major onshore bond for the first time, while data showed profits of Chinese industrial firms with annual turnover exceeding 20 million yuan dropped 5.5% in October 2025. Japanese shares gained marginally after data showed Tokyo's core inflation remained steady in November and industrial output unexpectedly rose, keeping the Bank of Japan on track to consider an interest-rate hike in coming months. However, Seoul shares tumbled after the release of mixed economic data with South Korea's industrial output posted its steepest decline in nearly six years in October, while retail sales rose 3.5% month-on-month in October.

Asian Indices

Last Trade            

Change in Points

Change in %      

Shanghai Composite

3,888.60

13.34

0.34

Hang Seng

25,858.89

-87.04

-0.34

Jakarta Composite

8,508.71

-37.16

-0.44

KLSE Composite

1,604.47

-12.99

-0.80

Nikkei 225

50,253.91

86.81

0.17

Straits Times

4,523.96

14.62

0.32

KOSPI Composite

3,926.59

-60.32

-1.54

Taiwan Weighted

27,626.48

71.95

0.26
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