Overview
- The Nifty hit an intraday peak of 26,306.95 and the Sensex reached 86,026 before late selling left both nearly flat, with the Nifty closing at 26,215.55 and the Sensex at 85,720.38.
- Gains were underpinned by rising odds of rate cuts in the US and India, with RBI Governor Sanjay Malhotra saying there is room to lower policy rates.
- Foreign portfolio investors turned net buyers with Rs 4,778 crore of equity inflows on November 26, while domestic institutions also recorded sizeable purchases.
- Banks led the advance as the Bank Nifty hit new highs near 59,800 with PSU lenders outperforming; Bajaj Finance and ICICI Bank were among the top contributors.
- Focus now shifts to the RBI MPC on December 3–5 and the US Federal Reserve’s early-December decision, with traders watching Nifty support near 26,100 and resistance around 26,350–26,500.