:::LALKAR GROUP::::

The domestic market slipped for a third consecutive session, closing with moderate losses after a volatile day shaped by monthly derivatives expiry. A softer rupee and persistent FII selling kept investors on edge, while traders stayed cautious ahead of the upcoming FOMC meeting and uncertainty surrounding the interim US-India trade agreement. The Nifty ended below the 25,900 mark, reflecting the broader risk-off mood. PSU banks and metal counters found buyers, but consumer durables and IT stocks remained under pressure.

The S&P BSE Sensex, tumbled 313.70 points or 0.37% to 84,587.01. The Nifty 50 index fell 74.70 points or 0.29% to 25,884.80. In three consecutive trading sessions, the Sensex dropped 1.22% while the Nifty fell 1.17%.

Adani Enterprises (down 2.71%), HDFC Bank (down 0.92%) and ICICI Bank (down 0.73%) were major drags today.

In the broader market, the S&P BSE Mid-Cap index added 0.19%, while the S&P BSE Small-Cap index rose 0.20%.

The market breadth was positive. On the BSE, 2,095 shares rose and 2,076 shares fell. A total of 171 shares were unchanged.

The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, tumbled 7.49% to 12.24.

Numbers to Track:

The yield on India's 10-year benchmark federal paper was down 0.54% to 6.490 as compared with the previous close of 6.525.

In the foreign exchange market, the rupee edged lower against the dollar. The partially convertible rupee was hovering at 89.1850 compared with its close of 89.1600 during the previous trading session.

MCX Gold futures for 5 December 2025 settlement rose 0.87% to Rs 1,24,927.

The US Dollar Index (DXY), which tracks the greenback's value against a basket of currencies, was down 0.09% to 99.97.

The United States 10-year bond yield declined 0.17% to 4.028.

In the commodities market, Brent crude for January 2025 settlement lost 15 cents or 0.24% to $63.22 a barrel.

Global Markets:

Most European indices traded higher, while Asian shares ended mixed on Tuesday as growing expectations of a December rate cut by the U.S. The Federal Reserve lifted sentiment, while investors continued to rotate into global technology stocks despite mounting concerns of overheating in the sector.

Rate-cut bets strengthened after Fed Governor Christopher Waller signaled that current data still points to a sufficiently soft labor market, supporting the case for another 25 bps policy easing.

Tech momentum also accelerated as optimism around AI resurfaced. Alphabet jumped 6.31% on Monday following the announcement of its upgraded AI model, Gemini 3, while other AI-linked names such as Broadcom and Micron Technology also rallied, extending Friday's broader rebound.

On Wall Street, stocks posted strong gains across the board on Monday, starting a shortened trading week off strong.

Overnight, the S&P 500 rose 1.55% to close at 6,705.12, while the Nasdaq Composite jumped 2.69% to settle at 22,872.01. It was the tech-heavy index's best day since May 12, when it rose 4.35%. The Dow Jones Industrial Average climbed 202.86 points, or 0.44%, to end at 46,448.27.

Traders continue to watch for any news that can affect the Federal Reserve's upcoming monetary policy decision. Markets are reportedly pricing a very high probability of a quarter percentage point cut from the Fed in December.

Stocks in Spotlight:

Muthoot Microfin jumped 5.95% after the company's board is scheduled to meet on Thursday, 27 November 2025 to consider raising capital through non-convertible debentures (NCDs) on a private placement basis.

Bharat Electronics (BEL) rose 1.57% after the company signed a joint venture pact with France's Safran Electronics and Defence (SED) to manufacture HAMMER precision-guided air-to-ground missiles in India.

Max India advanced 2.41% after the company said that its wholly owned subsidiary Antara Assisted Care Services, has launched a new facility in Whitefield, Bengaluru. This 80-bed senior care home in Bengaluru's top IT hub and residential area strengthens the company's presence in Karnataka, where it now operates nearly 163 beds across Bannerghatta and Whitefield locations. Nationally, Antara now has 500 operational beds.

ACME Solar Holdings added 1.67% after the company announced that its wholly owned subsidiary, ACME Platinum Urja, has signed a 25-year Power Purchase Agreement (PPA) with SECI.

Surya Roshni advanced 1.91% after the company announced that it has bagged an order worth Rs 105.18 crore from an engineering and infrastructure company for the supply of spiral pipes with external 3LPE coating in Gujarat.

Spandana Sphoorty Financial jumped 3.29% after the firm announced the appointment of Venkatesh Krishnan as the MD & chief executive officer (MD & CEO) of the company for a tenure of 3 years, effective from 27 November 2025 to 26 November 2028.

Glenmark Pharmaceuticals added 2.10% after the company announced the launch of Nebzmart' GFB Smartules' and Glenmark Airz' FB Smartules', the world's first nebulized, fixed-dose triple therapy for Chronic Obstructive Pulmonary Disease (COPD).

Desco Infratech rallied 5.39% after the firm has received a fresh set of orders & letters of award (LOAs) worth Rs 8.08 crore from domestic entities across gas distribution, power infrastructure and pipeline projects.

One Point One Solutions (1Point1) rose 3% after the firm's US subsidiary, One Point One USA has entered into a strategic three-year partnership with Edu-Tech company to scale and secure, AI-enabled test integrity operations worldwide.

IPO Update:

Sudeep Pharma received bids for 98,72,92,575 shares as against 96,75,05,125 shares on offer, according to stock exchange data at 16:30 IST on Tuesday (25 November 2025). The issue was subscribed 93.45 times. The issue opened for bidding on 21 November 2025 and it will close on 25 November 2025. The price band of the IPO is fixed between Rs 563 and 593 per share.