CHENNAI: Indian markets closed higher on Monday, November 17, extending last week’s positive momentum as financial stocks led a broad-based advance. The Nifty 50 reclaimed the 26,000 mark after nearly two weeks, while the Sensex logged steady gains through the day.
The Sensex finished about 388 points higher, and the Nifty settled above 26,000, supported by firm institutional buying and renewed optimism around corporate earnings. Mid-cap and small-cap indices also ended in the green, adding to the strength in overall market breadth.
Banking and financial stocks were the day’s key drivers. Sentiment improved following the RBI’s relief measures for exporters, which eased concerns surrounding potential stress in bank loan books. Financials gained between 0.7% and 1.5%, helping lift the benchmarks for a second straight session.
Investors also responded positively to expectations that India’s earnings cycle will remain strong through the second half of FY26. Global cues were mixed, but domestic optimism outweighed external uncertainties. Firms with steady profit visibility in the banking, capital goods, and select consumer pockets remained in favour.
However, the uptrend was not uniform across sectors. Auto and metal shares lagged, with some profit-taking visible after last week’s gains. A few large auto names slipped, weighing slightly on the broader indices, but the downside was limited by the strength in financials.
Analysts noted that reclaiming the 26,000 level on the Nifty is a positive technical signal, but they expect the market to remain sensitive to global risk cues. With the US Federal Reserve signalling caution on rate cuts, and geopolitical concerns still present, traders anticipate bouts of consolidation. Key support now lies in the 25,500–25,700 zone.
Overall, Monday’s session reflected a cautiously optimistic tone. Domestic factors—earnings momentum, policy support, and improving market breadth—continue to underpin sentiment, even as global uncertainties keep investors selective. The market’s ability to sustain above 26,000 will be watched closely in the days ahead.