Stock market today: Nifty 50 hits record high after 14 months, Sensex touches 52-week high

Nifty at record high: The Indian stock market's benchmark index — Nifty 50 — hit a fresh lifetime high after 14 months on Thursday, November 27, while the BSE Sensex also rose to a fresh 52-week high level, tracking positive global market cues.

The Nifty 50 hit a record high of 26,295.55, surpassing its previous peak of 26,277.35, scaled in September 2024. At the same time, its BSE counterpart Sensex rose over 200 points to a 52-week high of 85,940.24. The 30-share index is less than 40 points away from its all-time high of 85,978.25.

From the Nifty 50 pack, Bajaj Finance, Bajaj Finserv, Shriram Finance, Asian Paints, and Hindalco Industries emerged as top gainers, while Eternal, HDFC Life Insurance Company, Eicher Motors, SBI Life Insurance Company and UltraTech Cement were the top losers.

The Bank Nifty, too, extended its rally and hit a record high of 59,802.65, led by gains in ICICI Bank, HDFC Bank, Canara Bank, Axis Bank and IDFC First Bank.

In the sectoral space, Nifty Auto, Nifty FMCG, Nifty Metals and Nifty Pharma gained, while Nifty PSU Bank, Nifty Realty, Nifty Oil & Gas and Nifty IT indices declined.

The broader markets underperformed, as the Nifty Smallcap 100 and the Nifty Midcap 100 indices traded in the red.

The rally in the Indian stock market today was supported by an upbeat momentum in the global markets. Asian markets traded higher, while the US stock market gained overnight on rising expectations of a rate cut by the US Federal Reserve and a possible Russia-Ukraine peace accord.

On the domestic front, hopes of strong earnings growth amid robust macroeconomic conditions have fuelled investor optimism.

“The rally has fundamental support from potential earnings growth expected in Q3 and Q4 of FY 26. The consumption boom witnessed in October will translate into impressive earnings growth. If the trend sustains, even with slight moderation after the festival season, earnings growth, going forward, will be good, warranting a rally in the market,” said Dr. VK Vijayakumar, Chief Investment Strategist, Geojit Investments Limited.

Buthe believes there is no room for a sharp, sustained uptrend, since valuations do not support it.

Nifty 50: Technical Outlook

Nifty 50 marking a fresh all-time high on Thursday confirms that the broader trend remains bullish despite some profit booking at higher levels.

“The immediate resistance zone is now placed at 26,350 – 26,450. On the downside, strong support is seen near 26,200 – 26,150. Trading volumes are expected to pick up further, supporting the upside momentum, while the Put-Call Ratio at 0.68 reflects a slightly call-heavy but still balanced market positioning,” said Ponmudi R, CEO of Enrich Money.

He believes a sustained close above 26,300 could pave the way for fresh record highs in the near term.

The Bank Nifty index has decisively broken its long-term resistance trendline and is holding comfortably above its short-term demand zone. Sustained trade above 59,550 keeps the uptrend intact.

“The psychological 60,000 level now stands as the next major hurdle. Immediate support is placed at 59,550 – 59,250. A clean breakout above 60,000 could open the doors for further upside toward 60,500 – 61,000, although some profit booking may be seen near higher levels as conservative investors book gains,” said Ponmudi R.

According to him, the overall market sentiment remains firmly bullish, favouring a buy-on-dips strategy. Strong global cues, consistent domestic institutional inflows, and leadership from the banking space are reinforcing the positive undertone.

Nifty 50 Target

The rally in Nifty 50 comes after a long consolidation as markets look ahead with resilient September quarter corporate performance, hopes of India-US trade deal, and expectations of revival in domestic demand on the back of the festival and wedding season, supported by GST reforms.

Brokerage firm PL Capital values Nifty at a 15-year average PE of 19.2x with September 2027 EPS of ₹1,515. It raised the 12-month Nifty 50 target to 29,094 from 28,781 earlier at 19.2x September 2027 EPS.

The brokerage firm prefers banks, NBFCs, select consumer staples and discretionary, defence and ports as key themes in 2026.

Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before making any investment decisions.