Stock market news: The Indian stock market finished the day with slight gains on Friday. The trading started with negative sentiment due to a downturn in global markets and a selloff in US tech stocks, but it ended on a moderately positive note, buoyed by favorable expectations for the Bihar elections. The Nifty 50 wrapped up at 25,915.15, rising by 36 points (0.14%), while the Sensex closed at 84,630.96, gaining 152.29 points (0.18%) from the last trading day.
Experts suggest that market direction will be influenced by RBI’s efforts to stabilize the Rupee, fluctuations in foreign institutional investor activity, the outcomes of the Bihar elections, global market trends, Rupee movements, and upcoming economic indicators.
Dharmesh Shah of ICICI Securities, believes Nifty 50 to challenge All Time High of 26,300 in the coming month. Shah recommends BEL, and KPR Mill shares to buy in the near-term. Investors should consult experts before making decisions.
Market Outlook by Dharmesh Shah, Vice President, ICICI Securities
Equity benchmark resumed the uptrend after two weeks breather and settled eventful week at 25,910, up 1.6%. Midcaps continued with its winning streak, consequently clocking fresh All Time High after Sept-24. Beaten down IT, Defence and Pharma sectors staged a strong rebound meanwhile realty, FMCG continued with its breather. The weekly price action formed a bull candle carrying higher high-low, indicating revival in upward momentum Index displayed resilience by providing buying demand in the vicinity of 50 days EMA and enabling the formation of higher base while sailing through global as well as domestic volatility.
This makes us believe that, past three weeks consolidation has created launchpad for Nifty 50 to challenge All Time High of 26,300 in the coming month. Further, softer inflation reading along with better-than-expected Q2 earnings reinforces positive momentum that would drive index higher.
Hence, any decline should be used as buying opportunity as strong support is placed at 25,300 as it is 50% retracement of Sept-Oct rally (24,588-26,104) coincided with 50 days EMA.
Following are the key observations that validates our bullish stance:
- Political Boost: A decisive victory for the NDA in Bihar election has boosted the investors sentiment and augurs well for continuation of prevailing uptrend.
- Bank Nifty: Past ten sessions decline completely retraced back in just five sessions. Faster retracement signifies structural improvement.
- Midcap: Midcap index challenged Sep-24 high and recorded fresh all-time high. The current up move is backed by improvement in market breadth as currently 68% of Midcap index stocks are trading above their 200 days EMA compared to one month back reading of 64.
- Nifty IT vs Nasdaq: Defying the past two decades positive corelation with Nasdaq, the Nifty IT index has seen correction in recent past. Consequently, Nifty IT vs Nasdaq ratio has approached at two decades low. The current pullback in the ratio signifies mean reversion can be seen going ahead wherein Nifty IT would relatively outperform the Nasdaq in coming months.
- Global Macros: US Dollar index and Brent crude have been inching downward that augurs well for emerging markets.
- Key Monitorable: With the Development of India-US tariff negotiations would be key monitorable.
Stocks To Buy This Week – Dharmesh Shah
Dharmesh Shah of ICICI Securities recommends buying Ltd (BEL), and Ltd.
Buy BEL shares in the range of ₹414-426. He has BEL share price target of ₹466 with a stop loss of ₹398.
Buy KPR Mill shares in the range of ₹1,060-1,080. He has KPR Mill share price target of ₹1,244 with a stop loss of ₹1,108.
Disclaimer: The Research Analyst or his relatives or I-Sec do not have actual/beneficial ownership of 1% or more securities of the subject company, at the end of 14/11/2025 or have no other financial interest and do not have any material conflict of interest.
The views and recommendations provided in this analysis are those of individual analysts or broking companies, not Mint. We strongly advise investors to consult with certified experts before making any investment decisions, as market conditions can change rapidly and individual circumstances may vary.