The Indian stock market moved lower on Monday, November 21. To remind, earlier, the country’s government withdrew 500- and 1000-rupee banknotes from circulation, disappointing investors and triggering foreign capital outflow from the country.By the close, the Nifty 50 fell 1.8% to 7,929.10, and the BSE Sensex 30 retreated 1.47% to 25, 765.14.On the Nifty 50, Bharti Infratel and Wipro outperformed the broader market, advancing 1.96% and 1%, respectively. On the other side of the spectrum, Bank of Baroda and State Bank of India receded 8.79% and 6.27%, respectively.The BSE Sensex 30 gainers included Wipro and Tata Consultancy, which added 1.04% and 0.44%. Among the decliners, State Bank of India and Power Grid gave up 6.51% and 3.57%, respectively.On the currency market, the USD/INR pair inched up 0.01% to 68.161, and EUR/INR firmed 0.28% to 72.417. The 10-year bond yield reached 6.37%.Automobile and financial names underperformed, with State Bank of India, ICICI Bank and Eicher Motors sliding over 2.1%.Punjab National Bank tanked 8.71% after cutting its deposits rate by 0.25%, in line with analysts' expectations.Cement producer India Cements shed 7.75% even though quarterly net profit surged 62%.NHPC saw 2.48% shaved off its market cap after releasing financial results.From a technical standpoint, a downward trend is forming on the BSE Sensex 30 daily chart. The bears set a new local low, breaking through 26,000. Stochastic lines are sell-friendly, but are in oversold territory, so downside potential is limited.