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Below the Quote on Daily Market Commentary for November 28th 2025 By Siddhartha Khemka - Head of Research, Wealth Management, Motilal Oswal Financial Services Ltd

Nifty ended flat, closing 0.05% lower (-12 pts) on Friday, as investors bet on impending rate cuts in U.S. and India Domestic sentiment was supported by robust macro data, with India’s Q2 GDP growing at 8.2%, up from 7.8% in the previous quarter. Broader markets underperformed, with the Nifty Midcap100 down 0.1% and the Smallcap100 declining 0.3%. Most sectors ended in the green, led by Nifty Auto (+0.6%) and Nifty Pharma (+0.6%). On the flip side, Nifty Oil & Gas (-0.7%), Financial Services (-0.4%), and Realty (-0.2%) witnessed profit booking. Auto and metal stocks were in focus. The Nifty Auto index hit a fresh record high, supported by resilient retail demand in November and improving trends across segments. Passenger vehicle momentum continues to be driven by SUVs, while two-wheeler demand is gradually recovering across entry-level and premium categories. Metals also gained on expectations of supportive global monetary moves. In structural developments, India’s BFSI sector market capitalization has reached ~?105 trillion. While banks remain dominant, their share has moderated to ~54% from ~70% in FY15, reflecting the rise of insurance companies, capital market intermediaries, and digital-first financial platforms. Going forward, after making a new high this week, markets are expected to maintain a gradual up-move, with investor focusing on the RBI policy meeting next week.

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