The benchmark Sensex opened at 85,470.92, registering an intraday gain of 284.45 points or 0.33%, before settling slightly lower at 85,425.86, reflecting a net gain of 239.39 points or 0.28%. The Nifty 50 index mirrored this positive trend, buoyed by strong performances in key sectors. Notably, the Sensex is trading above its 50-day moving average (DMA), which itself remains above the 200 DMA, signalling a sustained bullish momentum in the medium term.

Market breadth on the BSE500 index indicated a moderately positive sentiment with 276 stocks advancing against 220 decliners, resulting in an advance-decline ratio of approximately 1.25x. This breadth suggests a cautious but generally optimistic participation across market capitalisations.

Large caps led the charge with the BSE100 index rising by 0.3%, while midcaps and small caps showed more subdued movements, with the BSE Midcap index up by 0.07% and the BSE Smallcap index gaining 0.26%. Midcaps traded largely flat throughout the session, reflecting a wait-and-watch approach among investors for clearer directional cues.

Among sectoral performances, 29 out of 38 sectors on the BSE advanced, while 9 sectors declined. The BSE FMCG sector emerged as the top gainer with a rise of 0.74%, supported by robust buying interest in consumer staples. Conversely, the Nifty Media sector was the laggard, slipping 0.66% amid profit-taking and subdued advertising spends.

Top gainers on the BSE500 index included Radico Khaitan, which surged by 9.62%, followed by Natco Pharma with a 5.73% rise and TBO Tek advancing 5.20%. These stocks benefitted from sector-specific tailwinds and positive investor sentiment. On the downside, Intellect Design declined by 4.42%, Biocon by 3.82%, and Sagility by 2.44%, reflecting selective selling pressure in technology and pharmaceutical segments.

Focusing on market capitalisation segments, Hero MotoCorp led the large cap gainers with a 2.57% rise, reflecting renewed interest in the automobile sector. Hitachi Energy was the top mid cap gainer, advancing 3.25%, while Astec Lifesciences stood out among small caps with a notable 12.38% increase. On the losing side, HDFC Life Insurance was the largest large cap decliner, down 1.12%, Biocon led mid cap losses with a 3.82% drop, and South Indian Bank was the top small cap loser, falling 5.82%.

Foreign institutional investors (FIIs) and domestic institutional investors (DIIs) activity remained mixed, with FIIs showing cautious buying in large caps while DIIs maintained a steady presence across mid and small caps. This balanced participation helped sustain the market’s upward trajectory despite global uncertainties.

Global cues were somewhat mixed, with major international indices showing modest gains amid ongoing geopolitical tensions and economic data releases. The US markets closed higher overnight, providing some support to Asian equities, while European markets traded cautiously. Crude oil prices remained stable, and currency markets showed limited volatility, contributing to a relatively steady environment for Indian equities.

Overall, the market’s performance on 20 Nov 2025 reflects a cautious optimism among investors, with large caps driving gains and a broad sectoral participation. The Sensex’s new 52-week high underscores the resilience of India’s equity markets amid a complex global backdrop. Investors may continue to monitor sectoral rotations and institutional flows closely as they navigate the evolving market landscape.

Looking ahead, the sustained trading above key moving averages suggests that the market may maintain its positive momentum, provided global conditions remain stable and domestic economic indicators support growth. However, selective stock picking and sectoral analysis will remain crucial given the mixed performances observed across various segments.

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