Metal, realty and PSU bank shares declined while auto and FMCG shares advanced.

At 13:25 IST, the barometer index, the S&P BSE Sensex, slipped 277.70 points or 0.32% to 85,354.98. The Nifty 50 index lost 75.80 points or 0.29% to 26,118.80.

The broader market underperformed the frontline indices. The S&P BSE Mid-Cap index fell 0.97% and the S&P BSE Small-Cap index dropped 0.88%.

The market breadth was weak. On the BSE, 1,318 shares rose and 2,724 shares fell. A total of 192 shares were unchanged.

The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, advanced 10.85% to 13.45.

Economy:

The HSBC Flash India Composite Output Index registered 59.9 in November, remaining well above the neutral 50.0 mark and its long-run average of 54.9, indicating continued strong expansion despite easing from 60.4 in October to a six-month low. The moderation in overall growth was driven by a softer rise in manufacturing output, with some firms reporting subdued new orders, while services activity strengthened compared with the previous month. The HSBC Flash India Services PMI Business Activity Index also improved, rising to 59.5 in November from 58.9 in October.

The HSBC Flash India Manufacturing PMI fell from 59.2 in October to 57.4 in November, signalling the slowest improvement in nine months but still reflecting expansion. Meanwhile, the HSBC Flash India Manufacturing PMI Output Index stood at 60.7 in November, down from 63.7 in October.

Gainers & Losers:

Maruti Suzuki India (up 2.03%), Interglobe Aviation (Indigo) (up 1.06%), Mahindra & Mahindra (up 1.02%), Max Healthcare Institute (up 0.98%) and Eicher Motors (up 0.93%) were the major Nifty50 gainers.

Hindalco Industries (down 2.13%), Bajaj Finance (down 1.88%), JSW Steel (down 1.73%), Tata Steel (down 1.65%) and Bharat Electronics (BEL) (down 1.48%) were the major Nifty50 losers.

Interglobe Aviaition (Indigo) advanced 1.06% after the company's board approved an investment of $820 million (Rs 729.4 crore) in its wholly owned subsidiary, InterGlobe Aviation Financial Services IFSC, in one or more tranches. The Investment will be made through combination of equity shares and 0.01% non-cumulative optionally convertible redeemable preference shares (OCRPS), in one or more tranches.

Hindalco Industries declined 2.51% after the company reported a fire incident at the Novelis plant in Oswego, New York. In its exchange filing, Hindalco stated that all employees at the facility were safely evacuated, with no injuries reported. Multiple local fire departments responded to the incident, and the fire has since been extinguished.

Stocks in Spotlight:

Billionbrains Garage Ventures (Groww) added 2.49% after the company's consolidated net profit jumped 12.18% to Rs 471.33 crore despite a 9.48% decline in revenue from operations to Rs 1,018.74 crore in Q2 FY26 over Q2 FY25. On quarter on quarter (QoQ) basis, the company's consolidated net profit and revenue from operations climbed 24.57% and 12.64% in Q2 FY26.

RMC Switchgears rose 1.18% after the company received a letter of intent (LoI) worth Rs 27.77 crore from Rajasthan Rajya Vidyut Prasaran Nigam (RRVPNL).

Earkart rose 3.10% after the company announced that it has secured an order worth Rs 6.25 crore from Artificial Limbs Manufacturing Corporation of India (ALIMCO) for supplying components for BTE digital hearing aids.

Zaggle Prepaid Ocean Services (Zaggle) shed 0.60%. The company announced that it has entered into an agreement with BIBA Fashion to provide its Zaggle Propel platform. The agreement is to be executed within 36 months.

Jammu & Kashmir Bank (J&K) fell 1.68%. The bank said that its board is scheduled to meet on 26 November 2025, to consider raising funds through Tier I or Tier II capital.

Global Markets:

European market declined as investors will be awaiting a series of economic data prints, including U.K. retail sales, the HCOB German manufacturing PMI, and S&P Global's manufacturing figures for Britain.

Asian shares extended a global rout on Friday as the much-anticipated U.S. jobs data failed to provide clarity on the near-term path for interest rates, with investors returning to dumping risk assets.

On the data front, Japan's core inflation in October rose at its sharpest rate since July, in line with market estimates on Friday, supporting the case for interest rate hikes by the Bank of Japan.

The headline inflation rate rose to 3%, marking the the 43rd month in a row that it has run above the BOJ's 2% target. The core-core inflation rate, which strips out prices of fresh food and energy, crept up to at 3.1%, compared to 3% in September.

Wall Street dived overnight as jitters over inflated tech stock prices returned, resulting in the Nasdaq's widest one-day swing since April 9 when President Donald Trump's Liberation Day tariffs spooked markets.

On Thursday stateside, the Nasdaq Composite fell 2.16%, down from a 2.6% advance at one point in the session.

Other major indexes also slipped, with the Dow Jones Industrial Average down 0.84%. The S&P 500 shed 1.56%, despite rising as much as 1.9% earlier in the day.

Data showed the U.S. economy added far more jobs than expected in September, but a rise in the unemployment rate and downward revisions to prior months painted an ambiguous picture for the Federal Reserve as it considers whether or not to cut interest rates next month.

The US economy added 119,000 jobs in September 2025, despite the US federal government shutdown, according to the Bureau of Labor Statistics data released on 20 November 2025.

The US unemployment rate rose to 4.4% with the number of unemployed people at 7.6 million as of the month ended September 2025, compared to the 4.1% jobless rate with 6.9 million people in the same period a year ago.

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