The BSE Sensex slipped 400.76 points (0.47%) to close at 85,231.92, while the NSE Nifty50 fell 124 points (0.47%) to end at 26,068.15.
The Nifty Midcap 100 dropped 1.13%, while the Nifty Smallcap 100 was down 1.22%, signalling widespread weakness rather than large-cap-only movement.
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Impact on the stock market
Sector-wise performance
Sector-wise performance painted a fairly stark picture:
- Nifty Metal plunged 2.34%, making it the day’s worst performer — largely on global risk-off sentiment and weakness in commodity prices.
- Nifty PSU Bank fell 1.43%, and Nifty Realty dipped 1.86%, extending their recent volatility streak.
- Interestingly, Nifty FMCG was the only sector that closed in the green, inching up 0.14%, suggesting defensive buying.
| Sector/Index | Performance |
| IT & BPM sector | -0.43% |
| Healthcare sector | -0.37% |
| Oil & Gas sector | -0.53% |
| Real estate sector | -1.86% |
| PSU Bank in India | -1.43% |
Top gainers today
| Company | Share Price (in ₹) | Change % |
| Maruti Suzuki | 15,977.00 | 1.11 |
| Max Healthcare | 1,181.10 | 1.04 |
| Interglobe Avi | 5,843.50 | 1.00 |
| M&M | 3,749.60 | 0.89 |
| TATA Cons. Prod | 1,183.10 | 0.78 |
Top losers today
| Company | Share Price (in ₹) | Change % |
| Hindalco | 777.70 | -2.76 |
| Tata Steel | 168.00 | -2.59 |
| JSW Steel | 1,140.30 | -2.54 |
| Bajaj Finance | 1,004.10 | -2.38 |
| HCL Tech | 1,608.00 | -2.27 |
Market aftermath: Impact on stocks
IndusInd Bank: A Rally on Rumours and a Clarification
One of the most talked-about movers today was IndusInd Bank, which jumped over 3% despite issuing a strong denial on speculation of a major fundraise.
Media reports earlier claimed that the bank could raise up to $1 billion, potentially through QIP or preferential allotment. As per these reports:
- The proposed equity raise could be priced between ₹875–₹950 per share.
- Incoming investors may bring in ₹6,000–₹7,000 crore.
- Promoters might infuse ₹2,500–₹3,000 crore to maintain their 15% stake.
However, IndusInd Bank clarified via an exchange filing:
“We categorically deny having any such discussions.”
Despite the denial, the stock still rose sharply, breaking a three-day losing streak and hitting ₹856.80. With a P/E ratio of over 64, the bank is still seen as a high-growth play. It has also gained 12% in the past month and over 10% in six months, even though it remains down 12% for 2025 so far.
The surge suggests that investors may be pricing in improved sentiment, not just the buzz.
Mutual Fund Industry: 12% Jump in Scheme Launches
India’s mutual fund industry is expanding faster than it has in years — not just in assets, but in product offerings.
Between October 2024 and October 2025, the MF industry added 295 new schemes, taking the total count to 2,669, a 12.4% YoY rise. And while newer AMCs drove much of this action, the largest fund houses retained their dominance.
Where the growth came from
- Jio BlackRock launched 9 schemes,
- Capitalmind AMC: 2 schemes,
- Unifi AMC: 3 schemes,
- Wealth Company AMC: 5 schemes.
Together, these four new fund houses launched 19 schemes and collected ₹16,145 crore, with ₹13,000 crore coming from Jio BlackRock alone.
Meanwhile, mid-sized AMCs aggressively expanded:
- Groww AMC added 23 schemes, almost doubling AUM by 99% to ₹3,654 crore.
- Motilal Oswal AMC added 39 schemes, with AUM growing 65% to ₹1.4 lakh crore.
- Kotak AMC added 17 schemes, taking AUM to ₹5.8 lakh crore (up 20%).
Large fund houses still lead
- SBI MF: AUM up 14% to ₹12 lakh crore.
- HDFC MF: AUM up 19% to ₹9.35 lakh crore.
- ICICI Prudential MF: AUM up 24%.
- Nippon India MF: AUM up 24%.
Scheme growth across categories
- Equity schemes: up 21.7% (839 → 1,021)
- Hybrid schemes: up 10.8%
- Debt schemes: up 3.7%
- Commodity schemes: up 32.1%
- Others: up 14.9%
Even though smaller AMCs are launching more schemes, investor money still flows to established brands — a classic case of trust beating novelty.
Groww Q2 Results: Higher Profit Despite Lower Revenue
Fintech giant Groww posted an interesting set of Q2 FY26 numbers — a rise in profit despite a dip in revenue.
Key performance metrics
- Net profit: ₹471.4 crore (up 12% YoY)
- Revenue from operations: ₹1,018.7 crore (down 9.5% YoY)
- Customer assets: ₹2.7 lakh crore (up 33%)
- Transacting users: 19 million (up 27% YoY)
- Mutual funds: 53% of customer assets
Lower operating expenses — ₹432.60 crore vs ₹589.80 crore last year — helped support profitability.
Stock market action
Groww’s shares have been volatile post-listing:
- The stock fell 17% over the previous two sessions, erasing ₹23,000 crore in market cap.
- It bounced back today with a 7% intraday jump to ₹168.39.
- It now trades 50% above its listing price (₹112) and 68% above its IPO price (₹100).
- The stock had touched a high of ₹193.91 within days of debuting.
Despite the revenue drop, the strong growth in customer assets and profitability seems to have restored some investor confidence.
Crude Oil Slips as Peace Talk Reports Emerge
Crude oil futures declined after reports emerged that Ukrainian President Volodymyr Zelenskiy is open to ‘honest’ peace discussions with the United States to end the war.
Current market prices
- Brent (January): $62.50 (down 1.39%)
- WTI (January): $58.08 (down 1.56%)
- MCX December Crude: ₹5,169 (down 1.79%)
- MCX January Crude: ₹5,170 (down 1.58%)
A potential peace deal could ease supply constraints in the global oil market. However, US sanctions on Rosneft and Lukoil, effective November 21, continue to create uncertainty around Russia-linked supply.
Other commodities also saw muted moves:
- Natural gas: down 0.50%
- Dhaniya: up 0.50%
- Turmeric: down 0.44%
Conclusion
Friday’s market session painted a clear picture: uncertainty is back on investors’ minds.
Weak global cues pulled indices down, metal and PSU banks lagged, and broader markets followed. Yet, beneath the volatility, India’s financial ecosystem continued to evolve — from banks navigating fundraising rumours, to mutual funds expanding aggressively, to fintechs like Groww posting resilient profits.
As geopolitical news shifted oil prices and sectoral trends reshaped flows, one thing stayed constant:
The market never stops moving — but understanding the “why” behind the moves is what turns noise into insight.
For more stock market insights, check out the StockGro blog.
