In the week ended on Friday, 21 November 2025, the S&P BSE Sensex added 669.14 points or 0.79% to settle at 85,231.92. The Nifty 50 index rallied 158.1 points or 0.61% to settle at 26,068.15. The BSE Mid-Cap index fell 1.30% to close at 46,655.71. The BSE Small-Cap slipped 1.30% to end at 52,011.66.

Weekly Index Movement:

The headline equity indices closed higher on Monday. The S&P BSE Sensex advanced 388.17 points or 0.46% to 84,950.95. The Nifty 50 index rallied 103.40 points or 0.40% to 26,013.45.

The headline equity indices slipped on Tuesday. The S&P BSE Sensex declined 277.93 points or 0.33% to 84,673.02. The Nifty 50 index lost 103.40 points or 0.40% to 25,910.05.

The equity benchmarks finished with strong gains on Wednesday. The Sensex rose 513.45 points or 0.61% to end at 85,186.47, while the Nifty advanced 142.60 points or 0.55% to close at 26,052.65.

The headline equity indices ended with decent gains on Thursday. The S&P BSE Sensex climbed 446.21 points, or 0.52%, to 85,632.68, while the Nifty 50 rose 139.50 points, or 0.54%, to 26,192.15.

The domestic equity indices ended with substantial losses on Friday. The S&P BSE Sensex slumped 400.76 points or 0.47% to 85,231.92. The Nifty 50 index tumbled 124 points or 0.47% to 26,068.15.

RBI Trade Relief Measures For Exporters:

The Reserve Bank of India on Friday announced a series of trade relief measures aimed at easing pressures on exporters struggling with global trade disruptions and tariff-related headwinds. The central bank extended the period for realisation and repatriation of export proceeds from nine to fifteen months and increased the time allowed for shipment of goods against advance payments from one year to three years. The measures, issued under the RBI’s Trade Relief Measures Directions, 2025, also target sectors most affected by tariff shocks.

The RBI granted a moratorium on term-loan repayments and working-capital interest falling due between September 1 and December 31, 2025, and allowed lenders to recalculate drawing power in working-capital facilities. Export credit norms were eased by extending the credit period from 270 to 450 days for loans disbursed till March 31, 2026. Banks can also liquidate packing-credit facilities using alternate sources, including domestic sales or substitute export orders, in cases where shipments could not be executed. All guidelines take effect immediately.

Economy:

India's exports contracted 11.8% to $34.38 billion in October, showed government data released on Monday. Imports jumped 16.63% to $76.06 billion. The country's trade deficit stood at $41.68 billion during the reporting month.

Imports surged due to increased shipments of gold and silver. Gold imports jumped to $14.72 bn in the last month against $4.92 bn recorded in the same month last year.

During April-October this fiscal, exports increased marginally by 0.63% to $254.25 billion. At the same time, imports rose 6.37% to $451.08 billion, the commerce ministry data showed.

The HSBC Flash India Composite Output Index registered 59.9 in November, remaining well above the neutral 50.0 mark and its long-run average of 54.9, indicating continued strong expansion despite easing from 60.4 in October to a six-month low. The moderation in overall growth was driven by a softer rise in manufacturing output, with some firms reporting subdued new orders, while services activity strengthened compared with the previous month. The HSBC Flash India Services PMI Business Activity Index also improved, rising to 59.5 in November from 58.9 in October.

The HSBC Flash India Manufacturing PMI fell from 59.2 in October to 57.4 in November, signalling the slowest improvement in nine months but still reflecting expansion. Meanwhile, the HSBC Flash India Manufacturing PMI Output Index stood at 60.7 in November, down from 63.7 in October.

Stocks in Spotlight:

Infosys rallied 2.80%. As investors positioned themselves ahead of the company’s Rs 18,000 crore share buyback opening on 20 November 2025. The buyback window will remain open until 26 November 2025. The IT major plans to repurchase up to 10 crore equity shares, or 2.41% of its capital, at Rs 1,800 per share through the tender offer route. Shareholders on record as of 14 November 2025 will be eligible to participate.

Billionbrains Garage Ventures (Groww) tanked 9.63%. The company’s consolidated net profit jumped 12.18% to Rs 471.33 crore despite a 9.48% decline in revenue from operations to Rs 1,018.74 crore in Q2 FY26 over Q2 FY25. On quarter on quarter (QoQ) basis, the company’s consolidated net profit and revenue from operations climbed 24.57% and 12.64% in Q2 FY26.

Narayana Hrudayalaya rose 0.52%. The company reported a 30.1% rise in consolidated net profit to Rs 258.37 crore on a 20.3% increase in revenue from operations to Rs 1,643.79 crore in Q2 FY26 over Q2 FY25.

Glenmark Pharmaceuticals slipped 1.24%. The company reported a 72.3% jump in consolidated net profit to Rs 610.25 crore on 76.6% increase in revenue from operations to Rs 6,003.79 crore in Q2 FY25.

Siemens fell 2.09%. The company posted a stable Q4 FY 2025 performance. The company reported a 16% year-on-year rise in revenue to Rs 5,171 crore in Q4 FY25, supported by strong traction in the Mobility and Smart Infrastructure segments. Profit after tax came in at Rs 485 crore, 7.1% lower than the Rs 523 crore reported in Q4 FY24 as the base quarter had benefited from a one-time Rs 69 crore gain from a property sale.

Sammaan Capital fell 13.39%. Media reports said the Supreme Court criticised the Central Bureau of Investigation for a “friendly approach” in probing alleged irregularities at the NBFC. The court, hearing a whistleblower plea, flagged concerns ranging from round tripping to possible fund siphoning and also questioned SEBI’s reluctance to act. It granted the market regulator jurisdiction to investigate the matter, according to reports.

Global Markets

Europe: The U.K.’s annual inflation eased to 3.6% in October, boosting expectations of a possible Christmas rate cut by the Bank of England.

The S&P Global UK Manufacturing PMI rose to 50.2 in November 2025, up from 49.7 in October and above market expectations of 49.2, according to preliminary data.

The HCOB Flash Eurozone Manufacturing PMI slipped to 49.7 in November 2025, a five-month low, down from 50 in October and below expectations of 50.2. Both new orders and employment declined, with manufacturing employment now falling on a monthly basis for two and a half years.

Meanwhile, the HCOB Germany Manufacturing PMI dropped to 48.4 in November 2025, compared with 49.6 in October and below the anticipated improvement to 49.8, marking the sharpest contraction in six months, according to preliminary estimates.

Asia-Pacific:

Singapore: Singapore posted a trade surplus of $7.24 billion in October 2025, up from $5.689 billion in September 2025.

Japan: Japan’s core inflation in October rose at its fastest pace since July, in line with market estimates, strengthening the case for further Bank of Japan interest rate hikes.

The headline inflation rate climbed to 3%, marking the 43rd consecutive month above the BOJ’s 2% target. The core-core inflation measure, excluding fresh food and energy, ticked up to 3.1%, compared with 3% in September.

United States: The U.S. economy added 119,000 jobs in September 2025 despite the federal government shutdown, according to Bureau of Labor Statistics data released on November 20, 2025.

The unemployment rate rose to 4.4%, with 7.6 million unemployed, compared with a 4.1% rate and 6.9 million unemployed people a year earlier.