Indian Stock Market Today, 24 November 2025: Sensex Falls 331 Points, Nifty Slips Below 26,000 as Trade Jitters and Profit‑Booking Weigh on Dalal Street

Mumbai, 24 November 2025 — The Indian stock market ended a choppy Monday in the red, with benchmark indices slipping for the second straight session as traders booked profits near record levels and remained wary of delays in an interim India–US trade agreement.

The BSE Sensex closed at 84,900.71, down 331.21 points (–0.39%), while the NSE Nifty 50 settled at 25,959.50, down 108.65 points (–0.42%), slipping back below the psychologically important 26,000 mark. ^[1]

Over the last two sessions, about ₹7 lakh crore in investor wealth has been wiped out, with the overall market capitalisation of BSE‑listed firms falling from roughly ₹477.5 lakh crore to about ₹470.2 lakh crore as the benchmarks corrected around 1%. ^[2]

The sell‑off came even as global markets stayed broadly positive on hopes of a US Federal Reserve rate cut in December, and the rupee staged its biggest one‑day gain in a month, closing near 89.23 against the US dollar on the back of aggressive Reserve Bank of India (RBI) intervention. ^[3]

Market Close Today: Key Takeaways from Dalal Street

Headline numbers for 24 November 2025

Sensex: 84,900.71 (–331.21 points, –0.39%) ^[4]
Nifty 50: 25,959.50 (–108.65 points, –0.42%) ^[5]
Nifty Midcap 100: down around 0.3%
Nifty Smallcap 100: down around 0.8–0.9% ^[6]

Broader indices once again underperformed the frontline benchmarks, underlining a clear risk‑off tone in high‑beta pockets such as midcaps, smallcaps, realty and defence‑linked names. ^[7]

Sector Snapshot: Realty, Metals and Chemicals Under Pressure; IT Bucks the Trend

Monday’s trade was decisively risk‑off beneath the headline indices:

Nifty Realty was the worst hit, falling a little over 2%, as profit‑taking hit recent outperformers in the property space. ^[8]
Nifty Metal and Nifty Chemicals slipped roughly 1–1.3%, hurt by concerns over global growth, trade tensions and a weaker rupee’s impact on input costs. ^[9]
Other key sectors including FMCG, oil & gas, pharma, consumer durables, media and autos closed between 0.4% and 1% lower, signalling broad‑based selling rather than a narrow, stock‑specific move. ^[10]

The lone bright spot was information technology:

Nifty IT gained around 0.4–0.5%, making it the only major index to finish in the green. ^[11]
Heavyweights Tech Mahindra, Infosys and HCL Tech outperformed after global cues pointed to a higher probability of a US Fed rate cut in December, which is typically positive for US‑facing Indian IT exporters. ^[12]

On the Sensex and Nifty 50, top gainers included:

Tech Mahindra, Infosys, Asian Paints, Adani Ports, Sun Pharma and HDFC Bank, which together helped cushion steeper index losses. ^[13]

Major laggards among the heavyweights were:

Bharat Electronics (BEL), Tata Steel, Mahindra & Mahindra (M&M) and Tata Motors (passenger vehicles), all of which came under sustained selling pressure through the session. ^[14]

Why Did the Indian Stock Market Fall Today?

1. Profit‑Booking Near Record Highs

Indian benchmarks are still trading less than 1.5% below their all‑time highs hit in late 2024, after rising in six of the eight weeks since early October on the back of robust earnings, tax cuts and cooling inflation. ^[15]

Analysts flagged Monday’s decline as a “healthy correction” following a swift, one‑way rally:

Reuters quoted market strategists as saying that the indices were due for a “mild corrective phase” after the recent run‑up. ^[16]
The New Indian Express also pointed out that the Nifty’s repeated failure to sustain above the 26,000–26,100 zonehas prompted talk of a near‑term consolidation phase. ^[17]

In short, valuations, not fundamentals, triggered much of Monday’s selling.

2. India–US Trade Deal Overhang and Tariff Concerns

A key theme spooking investors is the delay in finalising an interim India–US trade agreement:

Over the last two sessions, roughly ₹7 lakh crore of market value has evaporated, with New Indian Express explicitly linking the slide to uncertainty around the trade pact combined with broad‑based profit‑booking. ^[18]
The same report highlights that some Indian exports face US tariffs of up to 50%, and that a well‑crafted deal could reduce these duties toward the mid‑teens, significantly improving earnings visibility for export‑oriented companies. ^[19]

Until there is concrete progress on the trade talks, traders are reluctant to chase prices higher, especially in sectors with meaningful US revenue exposure.

3. Weak Rupee, RBI Intervention and Imported Inflation Fears

Currency markets sent a mixed but important signal:

After a brutal fall to a new low near ₹89.6 per dollar on Friday, the rupee rebounded to around 89.23 on Monday — its biggest one‑day gain in a month — as the RBI was widely seen selling dollars both onshore and in offshore NDF markets. ^[20]
Despite the bounce, the rupee is still down over 4% year‑to‑date and remains the worst performer among major Asian peers, according to forex strategists quoted by TNIE and Reuters. ^[21]

Market experts warn that:

A persistently weak rupee raises imported inflation, hurts import‑heavy sectors and can compress margins for companies dependent on foreign inputs such as crude, industrial metals and high‑end machinery. ^[22]
At the same time, the currency slide tends to make foreign investors cautious, particularly when valuations are already rich. ^[23]

So even though Monday’s rupee action was technically positive, equity investors are still trading as if the 90‑per‑dollar level is a live risk.

4. F&O Expiry and Late‑Session Selling

Intraday, the market actually looked healthy:

Early trade saw the Sensex climb over 100 points and Nifty trade above 26,100, supported by strength in IT and banking stocks. ^[24]

However, a sharp sell‑off in the last half hour reversed those gains:

Business Standard and Times of India both noted that Monday’s options expiry (for specific weekly contracts) amplified volatility, with the Nifty failing to hold above the 26,000 mark once short‑term traders began unwinding positions. ^[25]
New Indian Express described how “late sell‑off” in index heavyweights dragged Nifty to the day’s low at the close, turning what began as a firm session into a negative finish. ^[26]

The pattern suggests tactical unwinding and derivatives‑driven pressure, rather than a sudden deterioration in fundamentals.

5. Defensive Global Cues, Despite Fed‑Cut Optimism

Globally, the backdrop is not outright negative:

Asian markets were up roughly 0.8% on average, and US indices had closed higher on Friday as odds of a December Fed rate cut climbed. ^[27]

But for India, that optimism is being offset by local concerns:

The India–US trade overhang,
Record‑weak rupee, and
Persistent FII selling

have made domestic traders far more cautious than their global peers. ^[28]

FIIs vs DIIs: Foreign Selling Continues, Local Funds Provide a Buffer

Institutional flow data for 24 November 2025 tell the story clearly:

Foreign Institutional Investors (FIIs/FPI)
- Bought: ₹54,504.95 crore
- Sold: ₹58,676.70 crore
- Net: –₹4,171.75 crore (net sellers) ^[29]
Domestic Institutional Investors (DIIs)
- Bought: ₹20,445.48 crore
- Sold: ₹15,932.61 crore
- Net: +₹4,512.87 crore (net buyers) ^[30]

In other words, FIIs are still exiting, but local mutual funds and insurers are more than absorbing that selling, preventing a deeper correction — at least for now.

Rupee Watch: RBI Fights Slide as Markets Eye the 90 Level

Beyond equities, Monday was notable for the RBI’s aggressive defence of the rupee:

Reuters and TNIE both reported that the central bank intervened heavily before market open and intermittently through the day, helping the rupee pull back from near 89.5 to the 89.15–89.23 range. ^[31]
FX strategists now expect the rupee to trade broadly between 88.9 and 90.2 in the near term, with the ultimate path heavily dependent on how quickly the India–US trade impasse is resolved. ^[32]

Equity strategists warn that:

“A record‑weak rupee creates risk‑off sentiment in the equity market as investors worry about higher imported inflation and pressure on margins of import‑dependent sectors,” one brokerage told TNIE. ^[33]

That messaging dovetails with the risk‑off stance visible in sectors like autos, consumer durables and realty on Monday.

Stock‑Specific Action: IT & Select Industrials Gain, Defence & Midcaps Slide

IT and select industrials

Tech Mahindra climbed around 2–2.5%, with Reuters highlighting renewed broker confidence in an earnings turnaround by FY27 and strong leverage to US tech spending once rate cuts begin. ^[34]
Infosys and Asian Paints were also among the top Sensex gainers, lending support to the benchmarks. ^[35]
Dilip Buildcon rose about 3% to ~₹443 after the company announced it had become the lowest bidder (L1) for a ~₹5,000 crore mine‑development contract from NALCO for the Pottangi bauxite project in Odisha — a 25‑year engagement combining EPC works and long‑term mining operations. ^[36]

Defence and high‑beta midcaps under pressure

Shares of Hindustan Aeronautics (HAL), BEML, MIDHANI, Garden Reach Shipbuilders and other defence names fell between 3–4%, extending declines triggered by the crash of a Tejas Mk‑1 fighter at the Dubai Airshow on 21 November and reports of evolving peace proposals in the Russia–Ukraine conflict that could reduce defence spending expectations. ^[37]
Realty and engineering midcaps such as Anant Raj, Transformers & Rectifiers, Reliance Infrastructure, Reliance Power and several textile counters were among the day’s biggest losers, with individual names slipping 3–6% as risk appetite in the broader market dried up. ^[38]

One standout midcap winner

Asahi India Glass surged about 9% to a new record high on heavy volumes, trading roughly 86% above its 52‑week low, as investors continued to bet on structural demand for automotive and architectural glass. ^[39]

IPO & Primary Market: Sudeep Pharma Remains in Focus

While the secondary market looked fragile, the IPO market stayed active:

The Sudeep Pharma IPO — open from 21–25 November 2025 — continued to attract interest from investors tracking subscription data and grey‑market chatter. ^[40]
Coverage from Mint and other brokerages suggests that, despite recent volatility, primary‑market appetite remains healthy, especially for quality mid‑sized names with strong earnings visibility. ^[41]

This divergence — strong IPO demand vs. cautious secondary flows — is typical of late‑cycle phases in bull markets.

Technical View: Key Levels to Watch on Nifty 50

Technical analysts see 25,850–25,800 on the Nifty 50 as the immediate support zone, roughly corresponding to the 20‑day exponential moving average (EMA): ^[42]

A decisive break below 25,800 could open the door to a deeper correction, with the next support zone closer to 25,500.
On the upside, the 26,100–26,130 band is now a crucial resistance. The market has repeatedly failed to sustain above this area, as seen again on Monday when early gains faded into a close at the day’s low. ^[43]

For now, experts expect a range‑bound market with a soft bias, unless either:

there is good news on the India–US trade front, or
global risk‑on triggers (like a confirmed Fed rate cut) push FIIs back into Indian equities in size. ^[44]

What Should Investors Do Now?

For retail investors, Monday’s price action sends a few clear signals:

Avoid panic, but respect volatility
The correction so far is orderly and driven by profit‑taking, not by a collapse in earnings or macro data. However, elevated valuations mean sharp intraday swings are likely to continue.
Prioritise quality and liquidity
Analysts across brokerages are advising a preference for largecaps and high‑quality midcaps over illiquid smallcaps, which have been hit harder in the last two sessions. ^[45]
Watch currency and trade headlines
The rupee path and India–US trade negotiations are now central to the near‑term equity story. A favourable trade outcome, combined with a stabilising rupee, could quickly reverse FII sentiment; a prolonged stalemate may extend the consolidation phase. ^[46]
Staggered investing over lump‑sum bets
Given the tug‑of‑war between supportive global cues and local jitters, many strategists favour systematic or staggered allocations over large lump‑sum entries, especially in high‑beta sectors.

Disclaimer: This article is for informational and news purposes only and should not be treated as investment, tax or legal advice. Please consult a registered financial advisor before making any investment decisions.

Quick FAQ: Indian Stock Market Today (24 November 2025)

Q. Did the Sensex go up or down today?
The Sensex fell 331 points (–0.39%) to close at 84,900.71, marking its second consecutive day of losses. ^[47]

Q. Why did Nifty 50 fall below 26,000?
Primarily due to profit‑booking near record highs, weakness in realty/metal/chemical stocks, FII selling, uncertainty over the India–US trade deal and a late‑session F&O‑driven sell‑off that dragged the index to the day’s low at the close. ^[48]

Q. How did the rupee move today, and what does it mean for equities?
The rupee recovered to ~89.23 per dollar after heavy RBI intervention, but remains close to record‑weak territory. That keeps investors alert to the risks of higher imported inflation and margin pressure for import‑intensive sectors, which in turn caps equity upside. ^[49]

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