Author: Eqwires

Indian equity markets ended Thursday’s session on a strong note, with benchmark indices surging to fresh highs. The Nifty 50 crossed the 26,200 mark for the first time since September 2024, while the Sensex gained 446 points, reflecting renewed optimism across sectors.

At close, the Sensex settled at 85,633.45, up 446.35 points (0.52%), and the Nifty 50 ended at 26,192.10, higher by 139.20 points (0.53%). This rally was supported by robust buying in IT, auto, and banking stocks, alongside strength in select midcaps.

Key Drivers of the Rally

• IT Sector Strength: Leading technology companies such as Infosys, HCL Tech, and TCS posted gains, buoyed by expectations of stable global demand and favorable currency trends.
• Auto Momentum: Hero MotoCorp hit a fresh 52-week high after receiving its second upgrade in two days, rising 2%. Eicher Motors also contributed to the rally.
• Banking and Financials: PSU banks and NBFCs saw strong traction, with M&M Finance and Mahindra Holidays climbing 5% each on positive group outlook.
• Midcap Action: Stocks like IEX, Hitachi, and Glenmark Pharma surged between 3–5%, highlighting investor appetite beyond large caps.

Market Breadth and Sentiment

Market breadth remained positive, with over 30 Nifty stocks closing higher. Analysts noted that domestic institutional investors (DIIs) continued their buying streak, offsetting mild profit booking in select telecom and FMCG names. Vodafone Idea slipped nearly 5% as traders booked profits after recent gains.

Investor sentiment was further boosted by expectations of stable inflation and optimism around India’s growth trajectory, even as global markets showed mixed cues.

Technical Outlook

The Nifty’s decisive close above 26,200 is seen as a bullish breakout. Immediate resistance is pegged near 26,300–26,350, while support lies around 25,950. Analysts suggest that if momentum sustains, the index could test higher levels in the coming sessions.

Bank Nifty also showed resilience, finding support near its 20-EMA on hourly charts, indicating potential for further upside.

Broader Context

This milestone comes at a time when global markets, particularly the Nasdaq, have retreated from recent highs. India’s resilience is being viewed as a sign of strong domestic fundamentals, with investors rotating into sectors offering earnings visibility and growth potential.

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Conclusion: The crossing of 26,200 by the Nifty marks a significant milestone, underscoring the strength of India’s equity markets. With IT, auto, and banking sectors leading the charge, and midcaps adding breadth, the outlook remains constructive. While global uncertainties persist, disciplined investing and sectoral rotation strategies are likely to remain key drivers of sustained momentum.

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In a dramatic turn of events, shares of Billionbrains Garage Ventures Ltd, the parent company of online investment platform Groww, hit the 10% lower circuit on Wednesday, marking the first major pullback since its blockbuster market debut. The stock, which had surged nearly 94% from its IPO price of ₹100 in just five trading sessions, faced a wave of selling pressure amid concerns over stretched valuations and aggressive profit booking.

A Meteoric Rise Followed by a Sharp Slide

Groww’s listing on November 12 was one of the most talked-about IPOs of the year. The stock opened with strong momentum, fueled by retail enthusiasm and optimism around India’s digital investing boom. By November 18, it had nearly doubled in value, closing at ₹194. However, Wednesday’s session saw the stock locked in a 10% lower circuit, with the price band revised downward from 20% to 10% to curb volatility.

What Triggered the Sell-Off?

According to market analysts, the correction was largely driven by profit booking from early investors who capitalized on the rapid gains. However, deeper concerns are emerging around valuation sustainability. Groww’s revenue, while growing at an impressive CAGR of 85% between FY23 and FY25, still trails behind more established competitors in the broking and fintech space.

Adding to the caution, over 46 crore shares were traded on Tuesday, but only 8.24 crore were marked for delivery, indicating speculative activity. Analysts also flagged the upcoming lock-in expiry, which will release an additional 149 million shares (2% of total equity) into the market, potentially increasing supply and pressure on prices.

Analyst Perspectives

Veteran market expert Ambareesh Baliga noted, “The float was very low initially, which led to an exaggerated rally. Now that more shares are entering circulation, the price is adjusting to more realistic levels.” Others echoed similar sentiments, suggesting that while Groww’s long-term prospects remain promising, the current valuation may have run ahead of fundamentals.

The company’s first quarterly results post-listing, scheduled for November 21, are expected to be a key trigger. Investors will be watching closely for updates on its Margin Trading Facility (MTF) expansion plans and monetization strategies.

Technical and Sentiment Indicators

From a technical standpoint, the stock’s RSI (Relative Strength Index) had entered overbought territory, signaling a potential reversal. The sharp drop has now brought it closer to neutral levels, but further downside cannot be ruled out if earnings disappoint or broader market sentiment weakens.

Investor sentiment remains mixed. While some see this as a healthy correction, others worry about the sustainability of such rapid gains in a sector that’s increasingly competitive and regulation-sensitive.

What Should Investors Do?

Experts advise caution. Long-term investors may consider waiting for the quarterly results and reassessing based on earnings visibility and growth guidance. Traders should monitor volume trends and circuit limits, as volatility is likely to persist in the near term.

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Conclusion: Groww’s 10% plunge after a 94% rally is a textbook case of exuberance meeting reality. Whether this is a temporary breather or the start of a deeper correction will depend on upcoming earnings and how the company manages its growth narrative. Investors are advised to stay grounded, informed, and strategic.

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Indian equity markets staged a powerful comeback on Wednesday, with benchmark indices Sensex and Nifty closing significantly higher, defying weak global cues. The rally was driven by strong buying in IT and PSU banking stocks, signaling renewed investor confidence in domestic growth sectors.

At the closing bell, the BSE Sensex jumped 513.45 points, or 0.61%, to settle at 85,186.47, while the NSE Nifty 50 rose 142.60 points, or 0.55%, to end at a record 26,052.65. This marks a fresh all-time high for the Nifty, reinforcing the bullish sentiment that has dominated Dalal Street in recent weeks.

Sectoral Performance: IT and PSU Banks Shine

The rally was spearheaded by Information Technology stocks, which rebounded sharply after a brief consolidation. Heavyweights such as Infosys, HCL Technologies, and TCS posted strong gains, supported by renewed optimism around global tech spending and favorable currency movements.

Public Sector Banks also saw robust buying interest. State Bank of India (SBI) surged to a new 52-week high, while Bank of Baroda and Canara Bank posted notable gains. Analysts attributed the strength in PSU banks to improving asset quality, rising net interest margins, and expectations of sustained credit growth.

Broader Market Trends

Despite the headline gains, market breadth remained mixed. Out of 3,131 stocks traded on the BSE:

• 1,744 advanced
• 2,238 declined
• 149 remained unchanged

This divergence suggests that while large-cap stocks led the rally, mid- and small-cap segments faced selective profit booking.

Key Contributors and Technical Outlook

Among the top contributors to the Sensex’s rise were Infosys, ICICI Bank, HCL Tech, TCS, and Hindustan Unilever. On the technical front, analysts noted that Bank Nifty found strong support near its 20-EMA on the hourly chart, indicating potential for further upside if momentum sustains.

The Nifty’s close above the psychological 26,000 mark is seen as a bullish breakout, with immediate resistance pegged near 26,200 and support around 25,800. Traders are advised to watch for consolidation patterns and volume confirmation before initiating fresh positions.

Global Context and Investor Sentiment

Interestingly, the Indian market’s resilience comes amid a retreat in global indices, particularly the Nasdaq, which has pulled back from recent highs. Market experts suggest that India is being viewed as an “anti-AI” play, with investors rotating out of overvalued tech names in the West and into fundamentally strong sectors in emerging markets.

Domestic institutional investors (DIIs) continued their buying streak, further supporting the rally. Hopes of a potential India-US trade agreement also added to the positive sentiment.

Outlook Ahead

With the Nifty and Sensex both at record levels, market participants are now eyeing cues from:

• Upcoming corporate earnings
• RBI’s monetary policy stance
• Global macroeconomic developments, especially US inflation and interest rate trends

Volatility may remain elevated, but the underlying trend appears constructive for long-term investors.

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Conclusion: Today’s rally underscores the strength of India’s domestic growth story. While global headwinds persist, sectoral leadership from IT and banking suggests that investors are selectively betting on resilience and earnings visibility. As always, disciplined investing and expert insights remain key to capitalizing on such momentum.

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Morgan Stanley has delivered a bold and optimistic outlook for Indian equities, projecting that the BSE Sensex could climb to 107,000 by December 2026 in its bull-case scenario. Even in its base case, the brokerage expects the index to reach 95,000, implying a potential 13% upside from current levels. This forecast comes at a crucial juncture, as Indian markets prepare to rebound after a period of underperformance in 2025.

Why Morgan Stanley is Bullish on India

The global brokerage highlights several factors underpinning this ambitious target:

• Foreign investor positioning: Currently described as “the lightest in history,” leaving ample room for renewed inflows.
• Valuations: After years of frothy levels, valuations have normalized, creating a healthier entry point for investors.
• Domestic fund flows: Structural strength in local investments continues to provide resilience, ensuring steady liquidity.
• Macro tailwinds: Policy easing, supportive government measures, and a renewed earnings cycle are expected to drive growth.
• Global conditions: The bull-case scenario assumes persistently low oil prices (below $65 a barrel) and favorable global trade shifts.

From Stock-Picking to Macro-Driven Trade

Morgan Stanley believes India is set to “regain its mojo” in 2026, transitioning from a stock-picking market to one driven by macroeconomic factors. This shift signals a broader recovery phase, where investors may benefit from sector-wide momentum rather than isolated opportunities.

Lessons from 2025’s Underperformance

India’s equity markets endured their weakest relative performance against emerging-market peers in over three decades during 2025. Slowing growth and stagnant valuations weighed heavily on sentiment. However, Morgan Stanley argues that this painful stretch has set the stage for a sharp recovery, with earnings expected to grow at nearly 19% annually through FY25–28.

What Investors Should Watch

• Policy direction: Continued reforms and fiscal discipline will be critical.
• Global oil prices: Sustained low levels could significantly boost India’s macro stability.
• Foreign inflows: A reversal in global investor positioning could accelerate the rally.
• Domestic consumption: Strong household demand remains a cornerstone of India’s growth story.

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Conclusion

Morgan Stanley’s projection of Sensex at 107,000 by 2026-end is more than just a number—it reflects confidence in India’s structural strengths and its ability to rebound from cyclical setbacks. With normalized valuations, strong domestic flows, and supportive macro conditions, Indian equities may be entering their most promising phase in years. For investors, the next 12–24 months could be pivotal in positioning portfolios to ride this anticipated upswing.

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The Indian stock market witnessed a pause in its upward momentum on November 18, 2025, snapping a six-day winning streak. The benchmark indices closed lower as profit booking, weak global cues, and sectoral pressure weighed on investor sentiment.

The Nifty 50 settled at 25,900, down 103 points, while the Sensex closed 278 points lower at 84,673. Despite the correction, the broader market remained active, with several stocks hitting fresh 52-week highs, reflecting underlying strength in select pockets.

Key Highlights

• Indices Performance: Nifty slipped 0.40%, Sensex declined 0.33%, while Nifty Bank remained resilient, closing marginally lower after touching fresh highs.
• Sectoral Trends: IT, metals, and realty stocks dragged the market, while FMCG and pharma provided defensive support.
• Broader Market: Midcap and smallcap indices corrected by 0.6% and 1% respectively, indicating profit booking after a strong rally.
• Stock Action: Bharti Airtel, SBI, Canara Bank, Hero MotoCorp, Nykaa, Laurus Labs, and AU Small Finance Bank were among the stocks that touched new highs.

Global and Domestic Factors

Global markets remained cautious as investors reassessed expectations of a U.S. Federal Reserve rate cut in December. Domestically, after a sharp rally over the past week, traders opted to book profits, leading to broad-based selling pressure.

The correction highlights the importance of disciplined strategies and professional guidance in navigating volatile markets. This is where EQWIRES, recognized as the Best Stock Market Advisory and Best SEBI Registered Research Analyst, provides unmatched value to investors.

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Outlook Ahead

The near-term outlook suggests continued volatility as global uncertainties persist. However, strong domestic fundamentals, resilient corporate earnings, and sectoral strength in banking and FMCG are expected to support the market.

For investors, the key lies in balancing short-term trading opportunities with long-term portfolio strategies. With EQWIRES’ expertise as the Best SEBI Registered Advisory, investors can confidently navigate market fluctuations and position themselves for sustainable growth.

Conclusion

The market’s pullback after six days of gains is a healthy correction, offering opportunities for disciplined investors. While volatility may continue, the long-term trajectory of Indian equities remains positive.

By leveraging the guidance of EQWIRES, the Best Stock Market Advisory and provider of Best Trading Insights, investors can access well-researched strategies, actionable tips, and professional portfolio management to achieve consistent success in both trading and investments.

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