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Below the Market Commentary (closing) for 24th November 2025 by Bajaj Broking

Market Closing Commentary

Benchmark Indices traded in a range for most part of the session. However sharp sell-off in the last hour of trade saw the index closing the day down by 0.5% ahead of the monthly expiry, as volatility escalated amid concerns around interest-rate policy, persistent FII selling, uncertain trade and tariff developments, and broader market weakness. The Sensex closed the session down by 331 points or 0.39% at 84,900.71, and the Nifty was down 108 points or 0.42% at 25,959.50. Most sectoral indices traded in the red, reflecting broad market weakness, with Nifty Realty leading the decline at over 2%. Metal, Consumer Durables, Oil and Gas, Healthcare, FMCG and Media also saw notable losses. Financials, Private Banks and Pharma slipped marginally, while PSU Banks were nearly flat. The lone outperformer was Nifty IT, which managed to post a small gain, offering some support to the otherwise subdued sectoral landscape. The broader market witnessed more intense selling and ended on a negative note, with the Nifty Midcap 100 closing lower by 0.32% and the Nifty Small cap 100 closing down by 0.85%.

Nifty Outlook

Nifty has formed a sizable bear candle with a lower high and lower low signaling extension of profit booking for the second session in a row at higher levels. Going ahead, index to consolidate in the range of 26277-25,700 thus forming a base for the next leg of up move. Short-term support is placed around 25,600-25,800 range being confluence of the 50 days EMA and the lower band of the last two months rising channel. We expect the index to hold above the same, hence the current breather should be used to accumulate quality mid and large cap stocks in staggered manner. Strength above all time high (26277) will open further upside towards the 26,500 levels in the coming sessions. The last two months up move is well channelled signaling sustained demand at elevated levels. 

Bank Nifty Outlook

Bank Nifty formed a bearish candle with a lower high and lower low highlighting extension of the profit booking for the second session in a row. Index is seen consolidating above the recent range breakout area (57,300-58,500). Overall bias remains positive above the breakout area of 58200-58,500. We expect the index to retain its positive momentum and move towards the 59,800 level in the coming weeks, based on the measuring implication of the recent range breakout. Meanwhile, the 58,200–58,000 zone is likely to act as a crucial support area, with the previous resistance now expected to serve as support. We believe the current breather should be used to accumulate quality banking stocks in staggered manner.

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