IGI Logo

Below the Perspective on Markets 24th Nov 2025 by Mr. Vikram Kasat, Head - Advisory, PL Capital

Indian equities slipped into consolidation today after a strong start to the week, largely dragged by weakness in realty and chemical counters. The resilience in IT and banking stocks helped limit broader declines, but the market breadth remained soft with most sectoral indices ending in the red. Midcaps held flat and smallcaps corrected about 0.6%, indicating selective profit-booking at higher levels. On the currency front, the rupee firmed up 0.28% to 89.23 against the dollar, reflecting some stability in flows.

Going ahead into the coming week, we expect markets to stay range-bound in the near term as traders continue to unwind positions- almost 60% of built-up leverage has already come down between Friday and today. This healthy clearing of positions often precedes a stronger directional move. Once this phase of consolidation completes, we anticipate the possibility of a sharp rally across select largecaps and quality midcaps.

The recent moves suggest the market is still driven by selective buying, with IT, private banks and autos showing relatively steadier traction compared to other pockets. Broader cues remain mixed, and near-term direction is likely to depend on global developments.

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