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Market Plunges Late: 26,000 Mark Breached Amid Volatility
25 Nov
Summary
- Nifty fell 74 points, closing below 25,900 due to late selling.
- Major gainers included BEL, Hindalco, and SBI; Tata Motors, Trent, Infosys lagged.
- FIIs continued selling, pulling out ₹4,171 crore, impacting market sentiment.
The domestic equity market witnessed a significant late-session selloff on November 24, reversing earlier gains and pushing the Nifty index near its day's low. After trading firmly for most of the day, a sharp decline in the final hour dragged the index down by nearly 175 points from its intraday high. The Nifty concluded the session at 25,884, marking a loss of 74 points amidst considerable volatility. Key outperformers included Bharat Electronics, Hindalco Industries, and State Bank of India, while Tata Motors, Trent, and Infosys emerged as the day's laggards.
Sectoral performance presented a mixed picture, with Realty, PSU Banks, and Metals sectors showing gains. Conversely, Media, IT, and Consumer Durables sectors ended the day in the red. The broader market, however, demonstrated resilience, with the Nifty Midcap 100 and Nifty Smallcap 100 indices posting modest gains. Investors remained cautious, particularly in anticipation of upcoming US inflation data and its potential implications for the Federal Reserve's monetary policy path. Foreign institutional investors continued their selling spree, withdrawing ₹4,171 crore on the day.
