Indian stock markets moved higher on Monday, November 28 amid a rally in the telecom sector. On the contrary, banking equities were under pressure, as India's central bank raised its capital reserve requirements for commercial banks after the government previously withdrew 500- and 1000-rupee banknote from circulation.By the close, Nifty 50 added 0.16% to 8,126.90, and the BSE Sensex 30 ticked up 0.13% to 26,350.17.On the Nifty 50, Bharti Airtel and Tata Power outperformed the broader market, spiking by 6.71% and 3.85%, respectively. On the other side of the ledger, State Bank of India and Bank of Baroda dipped 2.64% and 3.10%, respectively.The BSE Sensex 30 gainers included Bharti Airtel and Adani, surging 5.53% and 2.60%, respectively. Among the decliners, State Bank of India and ICICI Bank retreated 2.82% and 1.73%, respectively.On the currency market, the USD/INR rose 0.24% to 68.68 and EUR/INR was up 0.7% at 73.07. The 10-year bond yield reached 6.321%.Power Grid advanced 0.8% to a new all-time high, and India's largest power company NTPC posted a three-month record.Banking names underperformed, as the central bank raised its capital reserve requirements for commercial banks. Thus, State Bank of India and Bank of Baroda slid more than 2.5%.Airlines SpiceJet grew 0.61% as quarterly net profit increased by 103%.Hathway Cable & Datacom decreased 0.58% after reporting an INR 40 mn net loss.From a technical standpoint, a corrective rebound towards 27,000-27,200 is taking shape on the BSE Sensex 30 chart. Stochastic lines are buy-friendly, so the benchmark still holds upside potential.