Nifty and Sensex End Nearly Flat; Metal Stocks Gain as US Reopens Government

Market Update at 4:10 PM: On Thursday, November 13, Indian equity benchmarks ended nearly flat after trading off the day’s high, extending gains for the fourth straight session. The benchmarks were supported by buying in metal and financial stocks following optimism over the reopening of the US government and improved corporate earnings.

At the close, the Nifty 50 rose 3.35 points or 0.01 per cent to 25,879.15, while the Sensex gained 12.16 points or 0.01 per cent to end at 84,478.67. Both indices remain about 1.5 per cent below their record highs. India’s volatility gauge, India VIX, remained stable. President Trump signed legislation to end the longest US government shutdown, clearing uncertainty around key economic data and boosting expectations for a December rate cut by the Federal Reserve.

On the sectoral front, five of the eleven major indices ended higher. The Nifty Metal Index led the gains with a rise of 0.44 per cent, followed by the Nifty Pharma Index up 0.41 per cent. Meanwhile, the Nifty IT Index fell 0.48 per cent, breaking a three-day rally, as top IT firms generate significant revenue from the US. Realty, Metal, Financial Services, Banking, and Pharma sectors closed in positive territory, while the PSU Bank Index declined 0.68 per cent.

In stock-specific moves, Asian Paints’ share price jumped nearly 4 per cent after reporting a 43 per cent year-on-year profit rise. Ashok Leyland climbed 5.5 per cent following better-than-expected Q2 results. Broker Groww’s parent, Billionbrains Garage Ventures, continued to rally, with its share price gaining nearly 5 per cent a day after debuting at a 12 per cent premium.

Among the key Nifty 50 contributors, ICICI Bank, Larsen & Toubro, and Bharti Airtel added 41.23, 12.91, and 11.41 points respectively. On the downside, Eternal, HDFC Bank, and Mahindra & Mahindra dragged the index by 17.31, 12.49, and 10.61 points.

Broader markets underperformed the benchmarks. The Nifty Midcap 100 index dropped 0.35 per cent, and the Nifty Smallcap 100 fell 0.37 per cent. Market breadth was negative, with 1,367 stocks advancing and 1,732 declining out of 3,187 traded on the NSE. A total of 71 stocks hit 52-week highs, while 96 recorded new 52-week lows. Additionally, 95 stocks were locked in Upper Circuits and 62 in Lower Circuits.

Market Update at 12:30 PM: Indian stock markets were gradually recovering in the afternoon session, erasing early losses led by buying in heavyweights such as ICICI Bank, Bharti Airtel, Tata Steel, and Asian Paints.

At 12:00 PM, the BSE Sensex index was trading at 84,783.11, up 324.39 points or 0.38 per cent, while the NSE Nifty50 was at 25,974.15, higher by 97.95 points or 0.37 per cent.

Among the top Sensex gainers were Asian Paints, Tata Steel, Bajaj Finserv, Bharti Airtel, ICICI Bank, Adani Ports, L&T, Ultratech Cement, and Sun Pharma, which rose up to 4 per cent on the BSE. On the downside, Tata Motors CV, Eternal, Infosys, Tata Motors PV, HCL Tech, TCS, M&M, and Tech Mahindra were among the Top Losers.

In the broader markets, the Nifty MidCap index added 0.24 per cent, and the Nifty SmallCap index gained 0.08 per cent. 

Sectorally, the Nifty Metal and Realty indices climbed 1.5 per cent and 1.1 per cent, respectively, while the Nifty Financial Services, Pharma, and PSU Bank indices were up in the range of 0.3–0.4 per cent.

Meanwhile, the Nifty Bank index touched a new record high of 58,609 during the session.

Market Update at 10:30 AM: India’s benchmark indices opened slightly lower on Thursday after rising 1.5 per cent each in the past three sessions, as investors stayed cautious ahead of the Bihar election results, a politically significant state vote that could influence policy continuity.

At 9:36 a.m. IST, the Nifty 50 slipped 0.14 per cent to 25,839.85, while the BSE Sensex declined 0.13 per cent to 84,354.60. Out of the 16 major sectors, 12 traded in the red, while the broader Small-Cap and Mid-Cap indices remained largely flat.

Market sentiment this week has been supported by cooling domestic inflation, the resolution of the U.S. government shutdown, and easing trade tensions. Analysts noted that domestic equities may now consolidate near current levels, with limited upside movement expected ahead of Friday’s Bihar election results.

Exit polls suggest the ruling National Democratic Alliance (NDA) is likely to retain power in the state. However, InCred Equities cautioned that any unexpected loss for the NDA could trigger a 5 to 7 per cent correction in Indian markets due to potential uncertainty over government stability and policy direction.

Pre-Market Update at 7:40 AM: Equity benchmark indices — the Sensex and Nifty 50 — are expected to open flat on Thursday, November 13, following mixed cues from global markets. GIFT Nifty trends indicated a muted start, with the index trading 4 points lower at 25,952 around 7:18 AM.

In early Asian trade, markets were mostly higher, while US stocks ended mixed. The Dow Jones Industrial Average closed at a record high for the second consecutive day.

India’s retail inflation cooled sharply to 0.25 per cent in October, down from 1.44 per cent in September and 6.21 per cent a year earlier, aligning with expectations. The Union Cabinet also approved the Credit Guarantee Scheme for Exporters (CGSE), providing 100 per cent credit guarantee coverage through NCGTC to lending institutions for up to Rs 20,000 crore in additional credit to eligible exporters, including MSMEs.

On Wednesday, November 12, Foreign Institutional Investors (FIIs) sold equities worth Rs 1,750.03 crore, while Domestic Institutional Investors (DIIs) bought shares worth Rs 5,127.12 crore, marking their 14th consecutive session of net inflows.

Indian equity markets extended their winning streak for the third straight session. Gains in Reliance Industries and IT stocks supported the rally, driven by optimism over US–India trade talks and progress on resolving the US government shutdown. The Nifty 50 rose 180.85 points or 0.70 per cent to close at 25,875.80, while the Sensex added 595.19 points or 0.71 per cent to end at 84,466.51.

Nine of eleven sectoral indices ended higher, led by the Nifty IT Index, which advanced over 2 per cent. Broader markets also performed well, with the Nifty Midcap 100 and Smallcap 100 closing higher. The India VIX fell 3 per cent, indicating easing market volatility.

The Dow Jones Industrial Average climbed 0.68 per cent to close at 48,254.82, while the S&P 500 edged up 0.06 per cent to 6,850.92. The Nasdaq Composite slipped 0.26 per cent to 23,406.46. The US House of Representatives passed a short-term funding bill to end the longest-ever government shutdown with a 222–209 vote.

Boston Fed President Susan Collins said the bar for additional rate cuts remains “relatively high” due to persistent inflation pressures, noting that policy easing is unlikely without clear evidence of labour market weakness.

Japan’s wholesale inflation eased slightly, with corporate goods prices up 2.7 per cent year-on-year in October versus a revised 2.8 per cent in September and a forecast of 2.5 per cent.

Gold prices rose 1.7 per cent to USD 4,197.43 an ounce on rising expectations that the US Federal Reserve will ease monetary policy to support growth.

Crude oil extended its decline amid concerns over a global surplus. Brent crude fell 0.46 per cent to USD 62.42 per barrel, while US WTI crude dropped 0.58 per cent to USD 58.18 after a 4 per cent slump in the previous session.

For today, SAIL will remain on the F&O ban list.

Disclaimer: The article is for informational purposes only and not investment advice.