Sensex, Nifty 50 fall for 2nd straight day, investors lose over ₹7 lakh crore in 2 sessions— 10 key highlights

The Indian stock market ended in the negative on Monday, November 24, on profit booking across segments amid mixed global cues.

Extending losses to the second consecutive session, the Sensex closed at 84,900.71, down 331 points, or 0.39%, while the Nifty 50 ended at 25,959.50, falling 109 points, or 0.42%. The BSE Midcap and Smallcap indices ended with losses of 0.27% and 0.83%, respectively.

In two sessions, the Sensex has declined by 732 points, or 0.85%, while investors have lost ₹7 lakh crore as the overall market capitalisation of BSE-listed firms stood at ₹469 lakh crore compared to ₹476 lakh crore on Thursday, November 20.

Indian stock market: 10 key highlights from the day

1. Why did the Indian stock market fall?

The domestic market ended in the red, largely due to profit booking following recent gains. Investors await clarity on the potential India-US trade deal.

“After a range-bound positive session, the market closed with a decline in the last half hour, led by Monday expiry, as the Nifty 50 indices could not survive above the key threshold of 26,000. Investor sentiment remained cautious, in anticipation of key event risk like delays in finalising the interim US-India trade agreement,” Vinod Nair, Head of Research, Geojit Investments, noted.

Some concerns about valuations in the mid and small-cap segments persist, which is keeping the market rally in check. Experts believe that the upcoming macroeconomic data, including the Q2 GDP release on November 28, will influence market sentiment.

2. Top gainers in the Nifty 50 index today

Shares of SBI Life Insurance Company (up 2.60%), Tech Mahindra (up 2.42%), and Eicher Motors (up 1.62%) ended as the top gainers in the Nifty 50 index.

3. Top losers in the Nifty 50 index

Shares of BEL (down 3.23%), JSW Steel (down 2.37%), and TMax Healthcare Institute (down 2.37%) ended as the top losers in the index. As many as 39 stocks ended in the red in the index.

4. Sectoral indices today

Barring Nifty IT (up 0.41%), all sectoral indices ended with losses.

Nifty Realty crashed 2.05%, while Metal and Consumer Durables fell more than a per cent each.

Nifty Bank slipped 0.05 per cent to end at 58,835.35.

5. Most active stocks in terms of volume

Vodafone Idea (67.5 crore shares), YES Bank (13.9 crore shares), and Jaiprakash Power Ventures (12 crore shares) were the most active stocks in terms of volume on the NSE.

6. 10 stocks jump more than 12% on BSE

Bharatrohan Airborne Innovations, Jet Freight Logistics, Shyam Century Ferrous, and VLS Finance were among the 10 stocks that surged over 12 per cent on the BSE.

7. Advance-decline ratio

Out of 4,449 stocks traded on the BSE, 1,209 advanced, while 3,033 declined. Some 207 stocks remained unchanged.

8. Over 90 stocks hit 52-week highs

Some 93 stocks, including AXIS Bank, AU Small Finance Bank, Federal Bank, SBI Life Insurance Company, Shriram Finance, Hero MotoCorp, and Eicher Motors, hit their 52-week highs in intraday trade on the BSE.

9. Nearly 360 stocks hit 52-week lows

As many as 359 stocks, including UBL, Thermax, and Colgate Palmolive (India), hit their 52-week lows in intraday trade on the BSE.

10. Nifty’s technical outlook

According to Sudeep Shah, Head of Technical and Derivatives Research at SBI Securities, the 20-day EMA zone of 25,850–25,800 will serve as an important support level for the Nifty. On the upside, the 26,100–26,130 zone will serve as a crucial hurdle.

“A decisive move beyond either of these levels will likely determine the next directional trend for the market,” said Shah.

According to Vatsal Bhuva, Technical Analyst at LKP Securities, a further retracement is likely if the index opens or closes below the 10-day EMA at 25,950, which could push it toward the 20-day EMA placed at 25,850 levels.

“Support for the index stands at 25,850, and a cautious stance is advisable if it breaks below this level, while resistance remains at 26,100,” said Bhuva.

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Disclaimer: This story is for educational purposes only. The views and recommendations expressed are those of individual analysts or broking firms, not Mint. We advise investors to consult with certified experts before making any investment decisions, as market conditions can change rapidly and circumstances may vary.