Market Rally Halts as Investors Book Profits
Indian equity benchmarks snapped their six-session winning streak on Thursday, as bulls failed to push the indices to new record highs. The BSE Sensex dropped 278 points, or 0.33%, to settle at 84,673, while the NSE Nifty 50 declined by 103 points, or 0.40%, to close at 25,910. The recent upsurge prompted widespread profit-booking, with investors shifting their attention to upcoming US economic data for hints on the Federal Reserve's interest rate trajectory.
Broad-Based Selling Grips the Market
The selling pressure was not confined to the frontline indices. A downturn was witnessed across the board, with all major sectoral indices ending the session in negative territory. The weakness was particularly pronounced in the real estate, IT, and metal sectors. The broader markets also felt the heat, as the BSE Midcap index fell 0.70% and the BSE Smallcap index dipped 0.85%, indicating a subdued market breadth.
Ajit Mishra, SVP of Research at Religare Broking Ltd., commented on the market's behaviour, stating, "Markets witnessed a volatile session on the weekly expiry day and slipped nearly half a per cent, extending the ongoing consolidation phase." He added that while domestic macroeconomic indicators remain firm, "heightened global volatility continues to cap momentum and trigger intermittent bouts of profit-taking."
Key Stocks and Corporate Developments to Monitor
Amid the broader market consolidation, several individual stocks were in focus due to significant corporate announcements:
- Hindustan Unilever (HUL): The company has set December 5, 2025, as the record date for the demerger of its ice cream business into a separate entity, Kwality Walls (India).
- Infosys: The IT major will open its massive ₹18,000 crore share buyback offer on November 20, which will remain open until November 26.
- Tata Consultancy Services (TCS): Secured a five-year contract with NHS Supply Chain to manage application development and cloud infrastructure.
- Azad Engineering: Signed key agreements with Pratt & Whitney Canada Corp to develop and manufacture aircraft engine components.
- Escorts Kubota: Launched its third-generation ride-on rice transplanters to meet growing demand for efficient farming equipment.
- Mahanagar Gas (MGL): Announced that CNG supply in Mumbai has resumed after GAIL repaired a damaged pipeline.
- Goel Construction Company: Bagged a ₹173.25 crore order from the Aditya Birla Group for civil work at a cement plant in Rajasthan.
- National Securities Depository (NSDL): Received a warning from SEBI for delays in disclosure submissions by its directors.
- GR Infraconstruction: Received the appointed date of November 15, 2025, for its ₹262.28 crore gauge conversion project from Western Railways.
- Choice International: Its subsidiary acquired 100% of Ayoleeza Consultants, which is managing active orders worth over ₹200 crore.
