Daily Market Wrap – Nov 18, 2025

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Daily Market Wrap

The market’s winning streak came to a halt today. Here’s what moved the needle:

🐻 Markets snapped a six-day winning run, with the Sensex dropping 278 points and the Nifty slipping below 26,000 as traders booked profits.
🐻 Supply-side pressure hit specific counters, with Mphasis falling on a planned stake sale by Blackstone and Kaynes Technology tumbling as its lock-in period ended.
🐂 The primary market remained vibrant. Edtech firm PhysicsWallah made a stellar debut, listing at a 33% premium and surging post-listing.
🐂 Long-term optimism for India is strong, with Morgan Stanley releasing a bull-case Sensex target of 1,07,000 for December 2026.
🐂 Confidence in the domestic market is underscored by a massive $20 billion IPO pipeline being prepared for 2026, featuring giants like Reliance Jio and Flipkart.
🐻 Global markets turned cautious with a tech sell-off in the US and Asia, as investors nervously await Nvidia’s earnings amid growing AI bubble fears.

The market took a much-needed pause today, breaking its impressive six-day winning streak as global tech jitters and profit-taking set in. The day’s action was a fascinating contrast between immediate caution and long-term optimism. On one hand, the sell-off in global tech, coupled with significant supply pressure from block deals and lock-in expiries, pulled the headline indices down. On the other hand, the underlying sentiment for the India story remains incredibly robust. The spectacular listing of PhysicsWallah shows that the appetite for fundamentally strong IPOs is alive and well, a view bolstered by a massive upcoming IPO pipeline and a remarkably bullish long-term outlook from major global brokerages. The market appears to be consolidating its recent gains while looking past short-term global volatility, keeping its faith in the strength of the domestic primary market and India’s growth trajectory.

Until tomorrow.

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