Nifty Ends Below 25,500 Mark; Metal Stocks Lead, IT Stocks Lag

Market Update at 4:00 PM: On Friday, November 7, Indian equity markets ended lower for the third consecutive session as profit-booking across sectors offset optimism from strong corporate earnings and positive cues from India-US trade discussions. The Nifty 50 slipped 17.40 points or 0.07 per cent to close at 25,492.30, while the Sensex dropped 94.73 points or 0.11 per cent to settle at 83,216.28. Both indices are now about 3 per cent below their record highs.

India’s volatility index, India VIX, remained stable at 12.5. Foreign portfolio investors made a notable comeback in October after three months of outflows, with net inflows of Rs 14,610 crore, the highest in five months. Financial stocks attracted the bulk of these inflows, according to data from the National Securities Depository.

Among sectoral indices, five of eleven closed in the green. The Nifty Metal index surged 1.41 per cent, leading the gains, followed by the Nifty PSU Bank index, which rose 0.87 per cent. The Nifty IT and Nifty FMCG indices, however, fell 0.62 per cent and 0.49 per cent respectively.

In the broader market, the Nifty Midcap 100 gained 0.63 per cent, while the Nifty Smallcap 100 declined 1.16 per cent, extending its earlier weakness.

Market breadth remained balanced, with 1,589 stocks advancing, 1,526 declining, and 96 unchanged out of 3,211 traded on the NSE. A total of 54 stocks hit new 52-week highs, while 172 touched 52-week lows. Additionally, 77 stocks hit Upper Circuits and 81 were locked in Lower Circuits.

Market Update at 12:30 PM: Indian stock markets were staging a mild recovery in early trade on Thursday, supported by low-level buying in select banking and metal shares. The BSE Sensex index was around 83,146, down 165 points or 0.20 per cent, while the Nifty50 was at 25,455, lower by 55 points or 0.21 per cent.

Adani Ports, ICICI Bank, BEL, Sun Pharma, M&M, Bajaj Finance, Power Grid, Kotak Bank, and Tata Steel were among the key gainers helping the Sensex recoup part of its early losses. On the other hand, Bharti Airtel slipped 4 per cent following a block deal trade, while HCL Tech, Tech Mahindra, TCS, Tata Motors PV, SBI, and Maruti Suzuki remained the top laggards.

In the broader market, the Nifty MidCap index turned positive with a 0.03 per cent rise, while the Nifty SmallCap index was off its lows but still down 0.4 per cent. Sector-wise, the Nifty Metal index led the recovery with a 0.8 per cent gain, followed by the Nifty Bank index, which added 0.3 per cent.

Market Update at 09:45 AM: India's equity benchmarks opened lower on Friday, as broad-based profit-taking outweighed the positive impact of an improving corporate earnings outlook and expectations of progress in India–U.S. trade talks.

The Nifty 50 fell 0.64 per cent to 25,346.9, while the Sensex declined 0.67 per cent to 82,740.13 as of 9:22 a.m. IST. Both indices have lost about 1.5 per cent so far this week, cooling off after a 4.5 per cent rise in October.

All 16 major sectors logged losses at the open. The broader Small-Cap and Mid-Cap indices declined 1.2 per cent and 0.8 per cent, respectively, indicating a cautious market sentiment.

Bharti Airtel lost 3.2 per cent after reports that a unit of Singapore Telecommunications offered to sell shares in the telecom company worth USD 1.18 billion at a 3.1 per cent discount to Thursday's closing price.

On the global front, U.S. President Donald Trump said on Thursday that his talks with Indian Prime Minister Narendra Modi were progressing well and that he would be visiting India, as negotiations over trade continued.

Pre-Market Update at 7:40 AM: Equity benchmark indices Sensex and Nifty 50 are expected to open lower on Friday, November 7, tracking weakness in global markets as technology and artificial intelligence (AI) stocks witnessed a sell-off. As of 7:17 AM, the GIFT Nifty was down 78 points at 25,510, indicating a subdued start for the domestic markets.

On Thursday, Indian markets ended in the red for the second straight session amid volatility. The Nifty 50 fell 87.95 points, or 0.34 per cent, to close at 25,509.95, while the Sensex slipped 148.14 points, or 0.18 per cent, to end at 83,311.01. India VIX eased nearly 2 per cent. Nine of the eleven sectoral indices advanced, while Nifty Metal and Realty fell 2.07 per cent and 1.51 per cent, respectively.

Infosys, India’s second-largest IT company, has fixed November 14, 2025, as the record date for its Rs 18,000 crore share buyback to determine shareholder eligibility for participation.

Key companies announcing Q2 FY26 earnings on November 7 include Bajaj Auto, Divis Laboratories, Hindalco Industries, Trent, Power Finance Corporation, Torrent Pharmaceuticals, UNO Minda, FSN E-Commerce Ventures (Nykaa), Kalyan Jewellers India, National Aluminium Company, Petronet LNG, and Cholamandalam Financial Holdings.

Foreign Institutional Investors (FIIs) sold equities worth Rs 3,263.21 crore on Thursday, while Domestic Institutional Investors (DIIs) continued their buying streak for the 10th consecutive session, purchasing shares worth Rs 5,283.91 crore.

US markets closed lower on Thursday as tech stocks faced pressure due to high valuations and economic uncertainty. The Dow Jones Industrial Average dropped 397.35 points, or 0.84 per cent, to 46,913.65. The S&P 500 declined 75.91 points, or 1.12 per cent, to 6,720.38, while the Nasdaq Composite slipped 445.80 points, or 1.90 per cent, to 23,053.99.

The dollar index fell 0.5 per cent to 99.674, as expectations rose for a rate cut at the US Federal Reserve meeting on December 10. Gold prices edged higher amid economic concerns, with spot gold at USD 3,983.54 per ounce, up 0.2 per cent. MCX Gold futures closed at Rs 1,20,613 per 10g, up 0.08 per cent.

Crude oil prices gained slightly, with Brent crude up 0.44 per cent at USD 63.66 a barrel, and US WTI crude futures rising 0.49 per cent to USD 59.71.

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