Weekly Snapshot — Week ending Fri, 28 Nov 2025

Nifty 50 at close on Fri, 28 Nov 2025 was 26,202.95 with a weekly gain ≈ +134.80 pts / +0.52% vs close on 21 Nov 2025 of 26,068.15
Large caps led the resilience while mid-caps and small-caps ended the week on softer footing. Nifty Mid caps/ Small caps were slightly lower on Friday.

Drivers

Rate-cut optimism: Markets priced in a high probability of an RBI repo cut in the upcoming Dec meeting and this supported the trend in some of the rate-sensitive sectors like banking, housing, and consumer durables.
Domestic flows / corporate earnings: Domestic institutional support (DIIs) and improving corporate prints underpin the rally in selected large caps.
Global risk tone: Positive risk appetite in global markets – The DOW Jones gained before the Thanksgiving holiday-shortened session and this aided sentiment.

Risks

FII selling / volatile flows: FII’s were net sellers in late-Nov (month-to-date net outflows), creating vulnerability if global risk aversion returns.
External shocks: Rupee weakness, U.S. tariff/friction headlines and moves in global yields or oil could trigger quick reversals.

RBI: The Monetary Policy Committee meets Dec 3–5, 2025 and market consensus (and several polls) expect a 25 bps repo cut to ~5.25% (data-dependent). That expectation was a central market theme this week.
Inflation: Headline CPI has eased sharply (October CPI was reported at ~0.25%, very low), giving the RBI room to ease. That disinflation narrative has helped rate-cut expectations.
Global: Oil softened in November (Brent ~$62–63/bbl), easing input-cost concerns; U.S. markets were firm into the holiday weekend which supported risk appetite.

Corporate earnings this season have been mixed but overall supportive for select domestic-facing names – financials, consumer, realty
Some brokers see scope for further rerating if rates ease and consumption stabilizes.
J.P. Morgan and other houses are constructive on India’s medium-term earnings/structural story.
Favored sectors were rate-sensitive financials, consumer discretionary (if demand picks up), real estate and select domestic dominating sectors
Pockets of IT and Pharma where near-term export/ tariff dynamics and valuation gaps create uncertainty.

The market showed a selective bull phase
- Large-cap indices near record highs, but breadth not uniformly strong;
- Mid / Small caps lagged. Intraday volatility and profit-taking episodes (esp. late-week) indicate short-term consolidation.

NIFTY near term trends indicate a positive bias on the upside to cross the All Time High figures

What to watch for –

Upcoming RBI Meeting in 1^st wk of Dec — policy decision and commentary on the pace of easing (primary market mover).
FII flow updates — any shift from net sellers to buyers would materially support the rally; continued selling would keep upside selective.
Global cues — US Fed commentary, treasury yields, and oil prices will influence risk appetite.
Earnings / corporate updates — stock-specific moves to drive sector rotation.

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