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Below the Quote on Markets 21st Nov 2025 by Mr. Vikram Kasat, Head Advisory ,PL Capital

The Nifty 50 ended the week in the 26,100–26,200 range after touching fresh 52-week highs earlier, signalling a phase of consolidation at elevated levels. The Sensex also cooled after hitting record peaks. While headline indices remained firm, the broader markets were comparatively muted, with mid- and small-cap segments seeing mild pressure. Heavyweight buying dominated the momentum, particularly in banks, IT, and index majors, even as global cues turned weak towards the end of the week and triggered some profit-taking.

From 7 November till date, market leadership has been remarkably narrow. Reliance Industries (105 points), Bharti Airtel (96 points), HDFC Bank (89 points), ICICI Bank (63 points) and Infosys (47 points) together contributed 400 points out of the 800-point Nifty rally, accounting for nearly 40% of the index weight. This concentration underscores that the recent up-move has been driven largely by a handful of heavyweights rather than broad-based participation.

Looking ahead, Nifty’s immediate support lies near 26,000, with resistance at 26,246. A break above the upper band may open room for further upside, while any slip below 25,800 could invite deeper consolidation. Global market trends, institutional flows and sector rotation will remain key drivers in the coming week.

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