Markets Under Pressure as Nifty Slips Below 26,000; IT Gain from Weak Rupee & More

Nov 24, 2025

Lupin (-1.91%): Shares dropped after the USFDA inspected its Goa unit and issued a Form-483 highlighting seven observations.
HG Infra (+1.68%): Shares climbed after HG Infra–Kalpataru Joint Venture secured L-1 position for a ₹1,415-crore Maharashtra Metro Rail contract.
Karnataka Bank (+5.34%): Shares surged as Cupid CMD Aditya Kumar Halwasiya purchased 38 lakh shares worth ₹71 crore, boosting market sentiment.
Natco Pharma (-2.72%): The stock slipped following a USFDA inspection at its Chennai API unit that ended with seven observations on a Form-483.

IT | Nifty IT (+0.41%): The index moved higher, led by Tech Mahindra, Infosys, and Wipro, after Fed signals supported hopes of another US rate cut.
India Defence | Nifty India Defence (-2.51%): Defence stocks declined after a Tejas fighter jet crash at the Dubai Air Show triggered profit-booking in BEL, HAL, and Solar Industries.
Nifty Realty (-2.05%): The index slipped for a fifth straight session as analysts flagged high valuations, prompting consolidation and declines across key realty names.
Nifty Metal (-1.23%): The index extended losses for the third consecutive day, pressured by 12 draggers against only 2 contributors.

Technical Level: Nifty saw a flat start and stayed capped below the 26,140 resistance, weakening later in the day to close around the 25,910 support area.
Advance-Decline Ratio: Market breadth remained weak, with 2,315 stocks declining against only 810 advances, indicating continued pressure.
The Big Picture: With the rupee nearing 90 per dollar, IT and pharma firms may benefit from stronger dollar revenues, but aviation, oil, paints, and FMCG players risk margin pressure from rising imported costs.
FII/DII Activity (Nov 21, 2025): Markets stayed weak, but institutional flows were mixed as DIIs bought ₹2,162 crore while FIIs sold ₹1,766 crore.

IPO Corner: Investor buzz rises as Sudeep Pharma IPO wraps up tomorrow, just as SSMD Agrotech IPO launches, keeping primary market activity in focus.
Macro: USA PPI MoM (Sep) and Retail Sales MoM (Sep) numbers will be published tomorrow, guiding market sentiment.
Index Watch: Nifty’s slip below 26,000 signals rising caution, amplified by steady FII outflows. Global markets were mixed today as US futures softened and Asian indices traded lower, adding pressure. The index now faces a test—reclaim levels or extend the fall toward 25,500?

👀 Stay tuned. Stay diversified.

Until next time,

Team Pocketful.

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