PSU banks, metal and auto shares advanced while FMCG, pharma and consumer durables stocks declined.

At 09:25 IST, the barometer index, the S&P BSE Sensex, jumped 265.97 points or 0.31% to 85,972.64. The Nifty 50 index rose 85 points or 0.32% to 26,287.50.

The Nifty 50 and the Sensex hit fresh all-time highs in early trade at 26,325.80 and 86,159.02, respectively, while the Bank Nifty also scaled a new record high of 60,114.05.

The broader market underperformed the frontline indices. The S&P BSE Mid-Cap index rose 0.22% and the S&P BSE Small-Cap index added 0.44%.

The market breadth was strong. On the BSE, 2,090 shares rose and 1,119 shares fell. A total of 222 shares were unchanged.

Foreign portfolio investors (FPIs) bought shares worth Rs 3,795.72 crore, while domestic institutional investors (DIIs) were net buyers to the tune of Rs 4,148.48 crore in the Indian equity market on 28 November 2025, provisional data showed.

Stocks in Spotlight:

ICICI Bank rose 0.11%. The bank said that its board has allotted 3,945 non-convertible debentures (NCDs) aggregating to Rs 3,945 crore, on a private placement basis. The bonds offer a coupon rate of 7.40% and a tenor of 15 years, with maturity on 28 November 2040.

Authum Investment & Infrastructure declined 2.02%. The company announced that its board has approved a bonus issue in the ratio of 4:1. The bonus shares are expected to be credited to eligible shareholders on or before 26 January 2026.

Numbers to Track:

The yield on India's 10-year benchmark federal paper was up 0.28% to 6.46 as compared with the previous close of 6.528.

In the foreign exchange market, the rupee edged higher against the dollar. The partially convertible rupee was hovering at 89.4450 compared with its close of 89.4500 during the previous trading session.

MCX Gold futures for 5 December 2025 settlement rose 0.69% to Rs 1,27,760.

The US Dollar Index (DXY), which tracks the greenback's value against a basket of currencies, was down 0.01% to 99.45.

The United States 10-year bond yield rose 0.40% to 4.036.

In the commodities market, Brent crude for January 2025 settlement advanced $1 or 1.60% to $63.38 a barrel.

Global Markets:

Asia market mostly advanced on Monday despite the China's latest manufacturing PMI data declined to 49.9.

China's factory activity unexpectedly contracted in November, according to a private survey released Monday, as soft domestic demand continued to cast a pall over the world's second-largest economy.

The RatingDog China General Manufacturing PMI, conducted by S&P Global, dropped to 49.9 in November, from 50.6 in October and 51.2 in September. A reading above the 50 benchmark level suggests an expansion, while one below that indicates contraction.

However, the official data released on Sunday showed that China's factory activity had improved slightly in November but remained stuck in contraction for the eighth consecutive month, while services weakened as the boost from earlier holidays faded.

The manufacturing purchasing managers' index rose to 49.2, up 0.2 points from October, the National Bureau of Statistics said.

On Friday stateside, Wall Street came back from the Thanksgiving holiday for a shortened trading session. The Nasdaq Composite advanced 0.65% to end the day at 23,365.69, scoring its fifth straight day of gains.

Meanwhile, the S&P 500 gained 0.54% to settle at 6,849.09. The Dow Jones Industrial Average grew 289.30 points, or 0.61%, to finish at 47,716.42.

Traders have begun raising their expectations for lower rates since New York Fed President John Williams said last week that there was room for 'a further adjustment in the near term to the target range for the federal funds rate.'

A quarter percentage point cut from the Fed in December would mark the central bank's third in a row after its September and October meetings.

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