Nifty slips below 26,000 amid broad-based selling

The sharp decline came in the final half hour of trading, erasing gains from a relatively range-bound session ahead of Tuesday’s monthly derivatives expiry. 
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Markets extended their losing streak for a second consecutive session on Monday, with the Nifty falling below the psychologically important 26,000 mark as concerns over the weakening rupee and persistent selling pressure weighed on investor sentiment.

The benchmark Nifty closed at 25,959.50, down 108.65 points or 0.42 per cent, while the Sensex fell 331.21 points or 0.39 per cent to settle at 84,900.71. The sharp decline came in the final half hour of trading, erasing gains from a relatively range-bound session ahead of Tuesday’s monthly derivatives expiry.

“After a range-bound positive session, the market closed with a decline in the last half hour, led by Monday expiry, as Nifty50 indices could not survive above the key threshold of 26,000,” said Vinod Nair, Head of Research at Geojit Investments Limited.

The rupee remained under pressure during the session following Friday’s sharp fall to record lows near 89.65 against the US dollar. “Rupee started the day with a strong gap-up at 89.20, gaining 0.35 rupees or 0.39 per cent after Friday’s sharp fall to all-time lows near 89.65,” said Jateen Trivedi, VP Research Analyst at LKP Securities. Last week’s decline was attributed to delays in the India–US trade deal, a rising US dollar index, and absence of visible intervention at lower levels.

Most sectoral indices closed in the red, with Nifty Realty leading the decline by falling over 2 per cent. The sector extended losses for a fifth straight session, dropping more than 5.5 per cent cumulatively. Nifty IT was the only sectoral index to end in the green.

Among individual stocks, SBI Life led the Nifty gainers, surging 2.60 per cent to close at ₹2,075.00, followed by Tech Mahindra which jumped 2.42 per cent to ₹1,496.80. Eicher Motors gained 1.62 per cent to ₹7,250.00, while Bajaj Auto added 1.38 per cent to ₹9,015.00 and Wipro rose 1.21 per cent to ₹247.44.

On the losing side, Bharat Electronics plummeted 3.23 per cent to ₹402.90. JSW Steel declined 2.37 per cent to ₹1,113.30, Max Healthcare fell 2.37 per cent to ₹1,153.10, Grasim dropped 2.00 per cent to ₹2,680.00, and Mahindra & Mahindra slipped 1.67 per cent to ₹3,687.00.

“On the daily chart, the index has formed a large bearish candle, signalling sustained selling pressure and a lack of buying interest,” said Sudeep Shah, Head – Technical and Derivatives Research at SBI Securities.

The broader market witnessed more intense selling. The Nifty Midcap 100 index declined 0.32 per cent, while the Nifty Smallcap 100 fell 0.85 per cent, slipping below its 200-day exponential moving average. Out of 4,449 stocks traded on the BSE, 3,035 declined against 1,208 advances, with 359 stocks hitting 52-week lows compared to just 93 touching 52-week highs.

Gold prices opened weak, falling by about ₹900 to ₹1,22,750, as a stronger rupee and softness in Comex gold near $4,045 pressured domestic prices. Trivedi expects gold to remain volatile within a range of ₹1,21,500–₹1,25,000 on MCX, with hopes of a Federal Reserve rate cut in December limiting the downside.

Bank Nifty closed marginally lower by 0.05 per cent at 58,835.35. “Bank Nifty witnessed strong bullish momentum during the first half of the session, but failed to sustain near its previous day’s high. In the last hour of trade, the index saw a sharp correction, erasing early gains,” Shah noted.

Looking ahead, analysts expect heightened volatility as the November series monthly F&O expiry approaches on Tuesday. “We expect the Nifty to hover within the 25,800–26,100 range,” said Ajit Mishra of Religare Broking, advising participants to maintain a stock-specific approach and use dips to gradually accumulate quality names.

Published on November 24, 2025