1. Executive Summary (Highlights)
Indian equity markets ended the week of November 17–21, 2025 on a subdued note, reflecting a blend of global uncertainty, sectoral rotation, and cautious institutional flows. While the frontline benchmarks Sensex and Nifty declined by 0.47%, the broader markets saw deeper correction, with the Nifty Midcap 100 falling 1.13% and Nifty Smallcap 100 slipping 1.22%. The market mood leaned negative, but the decline was not disorderly thanks to strong domestic institutional support.
Liquidity was the central narrative of the week. Foreign Institutional Investors (FIIs) remained cautious, ending as mild net sellers with a total outflow of ₹188 crore. However, Domestic Institutional Investors (DIIs) stepped in decisively with a massive ₹13,969 crore net inflow, cushioning the market and preventing broader damage. Notably, DIIs recorded their strongest buying of the week on November 18, adding ₹6,156 crore in a single session.
On the macro front, the USD/INR pair climbed 0.92% to 89.55, briefly touching 89.70, signaling persistent pressure on the currency amid a firm dollar index. Global sentiment remained cautious with renewed concerns over inflationary trends in key economies, firm bond yields, and commodity-led volatility.
Sectorally, the week was marked by clear rotation. IT (+1.61%), Auto (+1.09%), and Banking (+0.60%) outperformed the market. Meanwhile, Realty (-3.78%), Metal (-3.36%), Media (-2.40%), Energy (-1.13%), and Pharma (-1.05%) faced strong headwinds.
Amid this backdrop, several stocks delivered standout performances, making fresh 52-week highs and showing strong accumulation patterns. Midcaps such as NH and JP Power emerged as top weekly gainers backed by massive volume spurts. IPO sentiment remained robust with stellar performances from Workmates (+89.04%), PWL (+23.22%), and Tennind (+19.86%), indicating selective but strong investor appetite in the primary market.
Even in a corrective week, the market displayed underlying strength and maturity, with institutional flows and stock-specific action defining the broader narrative.
2. Index Performance
Index Performance Table
| Index | Closing | Change (Pts) | Change (%) | High | Low |
|---|---|---|---|---|---|
| Sensex | 85,231.92 | -400.76 | -0.47% | 85,609.40 | 85,187.84 |
| Nifty 50 | 26,068.15 | -124.00 | -0.47% | 26,179.20 | 26,052.20 |
| USD/INR | 89.5525 | +0.8200 | +0.92% | 89.7000 | 88.6100 |
| Nifty Bank | 58,867.70 | -480.00 | -0.81% | — | — |
| Nifty Midcap 100 | 60,276.30 | -687.25 | -1.13% | — | — |
| Nifty Smallcap 100 | 17,847.50 | -219.75 | -1.22% | — | — |
Index Commentary
The benchmark indices posted modest declines, but the underlying breadth of the market remained weak. Nifty and Sensex slipping by 0.47% each reflects consolidation rather than a structural selloff. The more pronounced declines in midcaps and smallcaps indicate risk aversion, especially in overheated segments.
Bank Nifty, down 0.81%, underperformed Nifty, reflecting mild profit-booking in financials after a steady multi-week rally. Despite the decline, large private-sector banks such as HDFC Bank and ICICI Bank saw significant turnover, suggesting continued institutional engagement.
The sharp move in the currency deserves attention. With USD/INR closing at 89.55, near the upper end of its weekly range, currency pressure remains a headwind for foreign flows and import-heavy sectors. The broader message from index performance suggests consolidation and selective sector leadership rather than market-wide weakness.
3. Sectoral Performance
Sector Performance Table
| Sector | Change (%) |
|---|---|
| Nifty IT | +1.61% |
| Nifty Auto | +1.09% |
| Nifty Bank | +0.60% |
| Nifty Fin Services | +0.27% |
| Nifty FMCG | -0.10% |
| Nifty MidSelect | -0.10% |
| Nifty PSU Bank | -0.25% |
| Nifty Pharma | -1.05% |
| Nifty Energy | -1.13% |
| Nifty Media | -2.40% |
| Nifty Metal | -3.36% |
| Nifty Realty | -3.78% |
Sector Analysis
The sectoral landscape this week clearly highlighted rotational shifts. In a mildly corrective environment, defensives and exporters outperformed.
IT (+1.61%) was the strongest performer, benefitting from the weakening rupee, which enhances revenue visibility for IT exporters. Continued traction in cloud, digital transformation, and stable deal flows further supported sentiment.
Autos (+1.09%) continued their upward trajectory supported by festive demand, easing supply-chain conditions, and rising premium bike sales — reflected by strong performances from Eicher Motors and Hero MotoCorp.
Financials—including Bank Nifty and Financial Services also held up despite volatility in the broader market, suggesting that institutional investors continue to favor high-quality, liquid banking names.
On the weaker end, Realty (-3.78%), Metal (-3.36%), and Media (-2.40%) saw sharp reversals. Realty stocks faced heavy profit-booking after sustained overperformance. Metals mirrored weak global cues, while Media continued under pressure due to sector-specific concerns and muted advertising prospects.
Energy and Pharma posted moderate declines, showing lack of strong near-term triggers.
Sector rotation suggests institutions are preferring stability and earnings visibility while exiting overextended, cyclical pockets.
4. Top Gainers & Losers (Nifty 500)
Top Gainers
| Stock | Price (₹) | Gain (₹) | Gain (%) |
|---|---|---|---|
| NH | 2,043.20 | +289.70 | +16.52% |
| JP Power | 20.01 | +2.25 | +12.67% |
| M&M Financial | 342.55 | +33.90 | +10.98% |
| GMR Airport | 104.05 | +8.38 | +8.76% |
| TBO Tek | 1,710.00 | +137.60 | +8.75% |
Top Gainers Analysis
The top gainers list this week shows dominance of midcaps driven by strong institutional activity and volume expansion.
NH delivered the strongest performance with a 16.52% surge, backed by a 14.92x volume jump, indicating heavy accumulation. The healthcare sector often outperforms in volatile markets due to stable earnings visibility.
JP Power posted a sharp 12.67% gain alongside the highest weekly volume spike (14.98x), indicating aggressive trading interest and possible fresh breakout momentum.
M&M Financial gained almost 11%, supported by improving credit cycle expectations and rotation into NBFCs.
GMR Airport, also featuring in the 52-week high list, rose 8.76%, supported by infra optimism and rising air travel volumes.
Top Losers
| Stock | Price (₹) | Loss (₹) | Loss (%) |
|---|---|---|---|
| GMDCLTD | 488.90 | -78.70 | -13.87% |
| HBL Engine | 896.90 | -144.40 | -13.87% |
| GPIL | 241.70 | -35.00 | -12.65% |
| KEC | 699.20 | -92.35 | -11.67% |
| Reliance Infra-BE | 165.29 | -21.29 | -11.41% |
Top Losers Analysis
The worst performers for the week were concentrated in metals, industrials, and leveraged infra plays.
GMDCLTD and GPIL saw steep declines as the metal sector corrected across the board. Commodity-driven volatility and global growth concerns weighed heavily.
HBL Engine posted an identical -13.87% fall, indicating possible profit-booking or short-term order-flow concerns.
KEC, an infra major, corrected 11.67% as the broader infra pack underwent selling.
Reliance Infra-BE remained under stress with an 11.41% decline, reflecting caution toward high-debt companies in a weak market environment.
Read- How to Identify the Next Multibagger in Indian Stock Market (Investor Guide)
5. FII–DII Combined Table
Institutional Flow Table
| Date | DII (₹ Cr) | FII (₹ Cr) | Net Impact |
|---|---|---|---|
| 21 Nov (Fri) | +3,161.61 | -1,766.05 | Heavy DII Support |
| 20 Nov (Thu) | +824.46 | +283.65 | Positive Liquidity |
| 19 Nov (Wed) | +1,360.27 | +1,580.72 | Strong Institutional Buying |
| 18 Nov (Tue) | +6,156.80 | -728.82 | Massive DII Buying |
| 17 Nov (Mon) | +1,465.90 | +442.20 | Net Positive |
Institutional Flow Analysis
The week showcased a dramatic divergence between FII and DII behavior.
- FIIs were net sellers overall, ending with weekly outflows of ₹188 crore, driven by heavy selling on November 21.
- DIIs countered every FII move aggressively, adding a massive ₹13,969 crore through the week.
The standout day was November 18, where DIIs absorbed selling pressure with a record ₹6,156 crore purchase.
The strong domestic liquidity continues to act as a stabilizing force, making India one of the more resilient global markets.
6. Most Active Stocks (Turnover)
Most Active Turnover Table
| Stock | Price (₹) | Turnover (₹ Cr) | Change (₹) | Change (%) |
|---|---|---|---|---|
| HDFC Bank | 998.05 | 9,523.39 | +8.45 | +0.85% |
| Bharti Airtel | 2,162.70 | 8,279.74 | +62.00 | +2.95% |
| Reliance Industries | 1,546.60 | 7,728.78 | +27.70 | +1.82% |
| BSE Ltd | 2,858.30 | 7,293.36 | +30.70 | +1.09% |
| ICICI Bank | 1,369.50 | 6,772.28 | -3.50 | -0.25% |
Most Active Commentary
Large-cap heavyweights dominated the turnover list, reflecting strong institutional preference for liquidity and stability.
HDFC Bank, with ₹9,523 crore turnover, reaffirmed its position as the most institutionally traded stock.
Bharti Airtel and Reliance Industries showed healthy gains, signaling renewed interest in telecom and energy heavyweights.
BSE Ltd remained highly active, aligned with rising market transaction volumes.
ICICI Bank’s marginal decline indicates consolidation rather than a trend reversal.
The activity highlights that institutions stayed anchored to quality large caps during a volatile week.
7. 52-Week High Stocks
52-Week High Stocks Table
| Stock | Price (₹) | Change (₹) | Change (%) |
|---|---|---|---|
| GMR Airport | 104.05 | +0.78 | +0.76% |
| Bharti Airtel | 2,162.70 | +4.40 | +0.20% |
| Eicher Motors | 7,134.50 | +9.00 | +0.13% |
| Hero MotoCorp | 6,002.50 | +3.00 | +0.05% |
| Federal Bank | 245.06 | +0.13 | +0.05% |
Narrative
These 52-week highs highlight leadership areas: telecom, infrastructure, financials, and autos. They represent institutional comfort zones backed by strong fundamentals.
8. Volume Buzzers
Volume Buzzer Table
| Stock | Price (₹) | xTimes | Change (%) |
|---|---|---|---|
| JP Power | 20.01 | 14.98x | +12.67% |
| NH | 2,043.20 | 14.92x | +16.52% |
| BBTC | 1,862.30 | 10.20x | +1.73% |
| APL Ltd | 901.00 | 7.45x | -0.34% |
| SKF India | 1,960.20 | 7.37x | -4.15% |
High-volume counters suggest heightened institutional or trader activity. NH and JP Power stood out as strong breakout candidates.
9. IPO Performance
IPO Table
| IPO | Issue (₹) | CMP (₹) | Change (%) |
|---|---|---|---|
| Workmates | 204 | 385.65 | +89.04% |
| PWL | 109 | 134.31 | +23.22% |
| Tennind | 397 | 475.85 | +19.86% |
| EMMVEE | 217 | 232.81 | +7.29% |
| Capillary | 577 | 571.90 | -0.88% |
| UTL Solar | 228 | 208.84 | -8.40% |
| Mahalife | 114 | 114.00 | 0.00% |
IPO Commentary
The IPO market remained vibrant, with Workmates and PWL delivering stellar returns. Underperformers were limited to solar/tech-infra names.
Read- What is an IPO? A Beginner’s Guide to Investing in Initial Public Offerings
10. Technical Analysis: Nifty & Bank Nifty
Nifty Outlook
- Close: 26,068
- Trend: Mild consolidation
- Support: 26,000 / 25,850
- Resistance: 26,180 / 26,300
Momentum indicators suggest cooling but no major breakdown.
Bank Nifty Outlook
- Close: 58,867
- Support: 58,500 / 58,000
- Resistance: 59,200 / 59,800
- View: Neutral with positive bias due to strong DII flows.
11. Next Week Outlook
Trends to Watch
- Consolidation likely to continue.
- DIIs will remain key stabilizers.
- Broader markets may stay under pressure.
- Large caps could outperform midcaps.
Triggers
- USD/INR movements
- Global inflation prints
- Crude oil direction
- US bond yields
Investor Strategy
- Buy quality on dips.
- Avoid weak midcaps until clear reversal.
- Favor IT, Banks, Auto, Telecom.
- Maintain staggered allocations.
Disclaimer: This Weekly Market Report is for informational and educational purposes only. It is not investment advice or a recommendation to buy or sell any securities. Stock market investments are subject to market risks. Readers should conduct their own research or consult a qualified financial advisor before making any investment decisions. The author and the website are not responsible for any financial losses or actions taken based on this content.
