Nifty, Sensex Decline for 2nd Session; Nifty IT Hits 5-Month High

Indian equity benchmark indices extended their decline for the second straight session on Monday, November 24. The domestic market struggled to hold gains at higher levels despite buying interest seen in global markets. The Nifty 50 closed lower by 108.65 points or 0.42 per cent at 25,959.50, falling below the 26,000 mark. The Sensex dropped 331.21 points or 0.39 per cent to settle at 84,900.71. Both indices are now about 1.2 per cent below their recent record highs.

India’s volatility index, India VIX, declined nearly 3 per cent and moved below the 13.5 level, indicating lower near-term volatility expectations. However, broader market sentiment remained weak, with selling pressure seen across midcap and smallcap segments. The Nifty Midcap 100 ended in the red, while the Nifty Smallcap 100 slipped more than 0.5 per cent.

Among the 11 major sectoral indices, only Nifty IT managed to close in positive territory. The index gained 0.41 per cent and touched a five-month high during early trade, supported by select heavyweight stocks. However, it was unable to sustain the higher levels by the close.

Broader markets saw more pressure compared to frontline indices, reflecting caution among investors ahead of global cues and domestic events. Market participants will continue to track key macroeconomic indicators and corporate developments that may influence market direction in the coming sessions.

Disclaimer: The article is for informational purposes only and not investment advice.