IGI Logo

Below the Market Commentary (closing) for 02nd December 2025 by Bajaj Broking

Market Closing Commentary

Indian markets closed lower on December 2, with the Nifty ending below the 26,050 level. The broader sentiment remained weak as profit booking persisted amid a softening rupee and continued FII withdrawals. Further pressure came from the NSE’s sectoral index reshuffle under SEBI norms, which weighed on major banking stocks.

In the near term, easing hopes of an RBI rate cut following robust GDP figures, along with lingering uncertainty over US–India trade talks, may keep investor sentiment cautious. At close, the Sensex was down 503.63 points or 0.59 percent at 85,138.27, and the Nifty was down 143.55 points or 0.55 percent at 26,032.20. All sectoral indices closed in the red, with metals, oil & gas, private banks, consumer durables, and media each declining by around 0.5%. The Midcap index closed slightly lower by 0.22%, while the Small-cap index declined by 0.55%.

Nifty Outlook

Index has formed a bearish candle with a lower high and lower low highlighting extension of the corrective consolidation on the weekly expiry session. Index after last four sessions of corrective consolidation is approaching the key support area of 26,000-25,800. We believe the current breather should be used to accumulate quality stocks for the next leg of up move towards 26,500 levels. The last two-months uptrend has remained well within a rising channel, indicating overall positive bias. Key support is placed at the 26,000-25,800 levels being the confluence of the 20 days EMA, lower band of the rising channel and the last two weeks almost identical lows around 25,800 levels sustaining above the same will keep the bias positive.

Bank Nifty Outlook

Bank Nifty has formed a small bearish candle with a long upper shadow signaling extension of the corrective decline for the second session in a row. We expect the index to consolidate and form a base in the range of 58500-60100 in the coming sessions ahead of the RBI monetary policy outcome. A follow through strength above last Monday’s high (60114) will open further upside towards 60,400 and then towards 61,000 levels in the coming weeks. The entire up move of the last 2 months is well channelled signaling sustained demand at elevated levels. Key support is placed at 58,300-58,600 levels being the confluence of the last two weeks lows and recent breakout area. Holding above the support area will keep the short-term bias positive.

Above views are of the author and not of the website kindly read disclaimer