Indices trade sideways; metal shares shine

The key equity benchmarks traded sideways in mid-morning trade as firm global cues and Fed optimism reinforced expectations of another 25 bps cut. The Nifty traded above the 25,950 mark. Metal shares advanced after declining in the past two trading sessions.

At 11:30 ST, the barometer index, the S&P BSE Sensex, lost 18.59 points or 0.02% to 84,882.12. The Nifty 50 index rose 2.40 points or 0.01% to 25,961.80.

The broader market outperformed the frontline indices. The S&P BSE Mid-Cap index added 0.11% and the S&P BSE Small-Cap index rose 0.07%.

The market breadth was positive. On the BSE, 1,967 shares rose and 1,858 shares fell. A total of 198 shares were unchanged.

IPO Update:

Sudeep Pharma received bids for 9,28,17,525 shares as against 1,05,64,926 shares on offer, according to stock exchange data at 11:20 IST on Tuesday (25 November 2025). The issue was subscribed 8.79 times. The issue opened for bidding on 21 November 2025 and it will close on 25 November 2025. The price band of the IPO is fixed between Rs 563 and 593 per share.

Buzzing Index:

The Nifty Metal index added 0.53% to 10,070.60. The index fell 2.75% in the past two trading sessions.

Hindustan Copper (up 2.19%), Vedanta (up 1.95%), Hindustan Zinc (up 1.41%), Hindalco Industries (up 1.39%), Welspun Corp (up 0.85%), JSW Steel (up 0.71%), Steel Authority of India (up 0.7%), National Aluminium Company (up 0.47%), Tata Steel (up 0.29%) and Jindal Steel (up 0.23%) advanced.

Stocks in Spotlight:

Muthoot Microfin jumped 4.49% after the companys board is scheduled to meet on Thursday, 27 November 2025 to consider raising capital through non-convertible debentures (NCDs) on a private placement basis.

Ceigall India gained 0.15%. The company announced that it has received a Letter of Intent (LOI) for the establishment of the 400/220 kV Velgaon GIS substation.

Global Markets:

Asian markets advanced on Tuesday as growing expectations of a December rate cut by the U.S. Federal Reserve lifted sentiment, while investors continued to rotate into global technology stocks despite mounting concerns of overheating in the sector.

Rate-cut bets strengthened after Fed Governor Christopher Waller signaled that current data still points to a sufficiently soft labor market, supporting the case for another 25 bps policy easing.

Tech momentum also accelerated as optimism around AI resurfaced. Alphabet jumped 6.31% on Monday following the announcement of its upgraded AI model, Gemini 3, while other AI-linked names such as Broadcom and Micron Technology also rallied, extending Fridays broader rebound.

On Wall Street, stocks posted strong gains across the board on Monday, starting a shortened trading week off strong.

Overnight, the S&P 500 rose 1.55% to close at 6,705.12, while the Nasdaq Composite jumped 2.69% to settle at 22,872.01. It was the tech-heavy indexs best day since May 12, when it rose 4.35%. The Dow Jones Industrial Average climbed 202.86 points, or 0.44%, to end at 46,448.27.

Traders continue to watch for any news that can affect the Federal Reserves upcoming monetary policy decision. Markets are reportedly pricing a very high probability of a quarter percentage point cut from the Fed in December.

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