Défense And Reality Indices Lost The Most, Shedding Over 2%
Shrikant Chouhan,
Head – Equity Research,
Kotak Securities
Mumbai, November 24, 2025: The benchmark indices continued profit booking at higher levels, with the Nifty ending 109 points lower and the Sensex down by 331 points. Among sectors, almost all the major sectoral indices witnessed profit booking at higher levels, but the Défense and Reality indices lost the most, shedding over 2 percent. Technically, after a positive open, the market took resistance near 26,150/85500 and, due to profit booking at higher levels, corrected sharply. From the day's high, the market corrected over 200/700 points. Additionally, on daily charts, it has formed a bearish candle, which supports further weakness from the current levels.
For day traders now, 26,000/85000 would act as a trend decider level. As long as the market is trading below this level, weak sentiment is likely to continue on the downside, and the market could slip till 25,900–25,850/84700-84500. On the flip side, if it moves above 26,000/85000, it could bounce back to 26,150–26,200/85500-85700. The intraday market texture is volatile; hence, level-based trading would be the ideal strategy for day traders.
Gaurav Garg, Lemonn Markets Desk, adds:
The Nifty slipped below the 26,000 mark on Friday, signalling a bearish undertone as the Indian rupee weakened sharply to a record low of 89.49 against the dollar. The sudden currency slide, despite broadly stable global cues, triggered risk-off sentiment across equities. Traders noted that the rupee’s fall “stood out” given a steady Dollar Index, flat crude prices and no signs of stress in other emerging-market currencies. CR Forex Advisors attributed the move to thin dollar supply, aggressive buying and the RBI stepping back from defending the 88.80 level, which set off stop-loss triggers and amplified the decline.
Real estate stocks extended losses for a fifth straight session, falling more than 5.5 percent as concerns grew around stretched valuations. The Nifty ended below 25,950 in a volatile session, with most sectors under pressure except IT. Tech Mahindra, Eicher Motors, Bajaj Auto, Wipro and Infosys were among the limited gainers, while JSW Steel, Bharat Electronics, Max Healthcare, M&M and Power Grid dragged the index lower. Broader markets mirrored the weakness, with the BSE midcap index down 0.3 percent and the smallcap index falling 0.7 percent.
