Indian stock markets on Wednesday (November 26) opened on a soft note as selling pressure overshadowed otherwise supportive global cues. The Sensex slipped 83.57 points to 84,503.44 at the opening bell, while the Nifty 50 fell 41.85 points to 25,842.95. On Tuesday, the Sensex had closed at 84,587.01 and the Nifty at 25,884.80.

Early Dip Followed by Quick Recovery

Despite the weak start, both benchmark indices staged a quick rebound and moved into positive territory as investors grew optimistic about a potential interest rate cut by the US Federal Reserve in December.

Broader markets also showed resilience in early trade.

• The BSE Midcap index gained 77.13 points (0.16%)
• The BSE Smallcap index rose 67.71 points (0.13%) to 51,752.24

Tata Motors PV Leads Early Gainers

In the Sensex pack, TMPV (Tata Motors Passenger Vehicles) emerged as the standout performer, rising nearly 2% in early trade. Other gainers included Trent, Tata Steel, Adani Ports and Maruti.

Meanwhile, Bharti Airtel and BEL were among the top laggards, with Airtel slipping 2.02% as investors booked profits.

Market breadth leaned positive, with 2,103 stocks advancing, 432 declining, and 69 remaining unchanged on the Nifty platform.

Key Levels to Watch, Says Analyst

Shrikant Chouhan, Head – Equity Research, highlighted that the indices are nearing crucial resistance levels.

He noted, "The 26,000–26,050 zone for Nifty and 85,000–85,200 for Sensex remain strong resistance. As long as the market trades below these levels, sentiment will remain weak. On the downside, 25,800 for Nifty and 84,300 for Sensex act as immediate support."

He added that a failure to hold above these support zones could drag the markets further down to 25,675 and 84,000. However, a breakout above the resistance range could lift the Nifty to 26,150–26,200 and the Sensex to 85,500–85,700.

Gift Nifty Suggests Muted Opening

Gift Nifty, which often signals the market's early direction, opened with a modest gain of 114.5 points at 26,158.50-indicating a flat-to-positive start compared to its previous close of 26,044.

MENAFN26112025007385015968ID1110398456