Markets edge higher as IT stocks lead rally, Sensex hovers above 85,000

The markets opened on a muted positive note on Monday, with the Sensex gaining 23.34 points to trade at ₹85,255.26, while the Nifty edged up 6.50 points to ₹26,074.65 in early trade. The Sensex, which closed at ₹85,231.92 on Friday, opened at ₹85,320.04, while the Nifty moved from its previous close of ₹26,068.15 to open at ₹26,122.80.

Information technology stocks led the gainers, with Tech Mahindra surging 2.66 per cent to ₹1,500.40, followed by Infosys which jumped 2.08 per cent to ₹1,577.20. HCL Technologies gained 1.42 per cent to ₹1,630.80, while Wipro advanced 1.38 per cent to ₹247.86. Among auto stocks, Eicher Motors rose 1.04 per cent to ₹7,208.50.

“Asian markets opened the week on a neutral-to-positive footing. With Japan’s Nikkei 225 shut for a holiday and South Korea’s Kospi edging higher, the region appears set for a day of consolidation rather than any strong directional move,” said Ponmudi R, CEO of Enrich Money.

On the losing side, Bharat Electronics Ltd declined 1.31 per cent to ₹410.90, while Mahindra & Mahindra fell 1.17 per cent to ₹3,705.70. Tata Motors Passenger Vehicles dropped 1.12 per cent to ₹358.20, and Eternal Ltd slipped 1.06 per cent to ₹298.75. Grasim Industries declined 0.99 per cent to ₹2,707.80.

Market analysts noted that foreign institutional investors turned net sellers on November 21, offloading equities worth ₹1,766 crore, while domestic institutional investors bought over ₹3,160 crore the same day. “FII selling worth ₹13,841 crore in November” has weighed on sentiment, according to Prashanth Tapse, Senior VP (Research) at Mehta Equities Ltd.

“Nifty 50 ended last week firmly above the elevated support band of 26,000–25,900, even as repeated rejections from the 26,200–26,277 resistance zone compressed momentum,” Ponmudi added.

Shrikant Chouhan, Head of Equity Research at Kotak Securities, noted that “during the last week, the benchmark indices witnessed volatile activity. The Nifty ended 0.61 per cent higher, while the Sensex was up by 670 points.”

Among sectors, the IT index outperformed last week, rising 1.75 per cent, while the auto index gained 1.42 per cent. Conversely, the realty index lost the most, shedding 3.42 per cent.

“FY27 is likely to witness above 15 per cent earnings growth. This is a strong fundamental support,” said Dr. VK Vijayakumar, Chief Investment Strategist at Geojit Investments Ltd. “Investors should focus on large-caps and quality mid-caps with high growth potential. Small-caps, in general, continue to be overvalued.”

Crude oil prices remained volatile, with support at ₹5,145-5,100 and resistance at ₹5,280-5,355, according to Rahul Kalantri, VP Commodities at Mehta Equities Ltd. In the bullion segment, gold has support at ₹1,23,450-1,22,480, while resistance is at ₹1,24,750-1,25,500. Silver has support at ₹1,53,050-1,52,350, while resistance stands at ₹1,55,140-1,55,980.

Technical analysts remain cautiously optimistic. “Nifty continues to signal an upside breakout and remains comfortably above key moving averages, with dips likely to attract buyers as long as the index holds above 25,741,” Tapse said.

Published on November 24, 2025