Nifty, Sensex Rise After 3-Day Fall; Nifty IT Index Gains 1.62%

Market Update at 4:10 PM: On Monday, November 10, Indian equity markets ended higher after a 3-day losing streak, supported by gains in IT stocks. Optimism over a potential end to the US government shutdown and improving earnings outlook boosted sentiment.

At the close, the Nifty 50 came off the day’s high but still advanced 82.05 points or 0.32 per cent to settle at 25,574.35. The Sensex gained 319 points or 0.38 per cent to end at 83,535.35. Both benchmarks remain about 2.6 per cent below their record highs. India’s volatility index, India VIX, slipped 2 per cent below the 12.5 level, indicating improved investor confidence.

Among sectors, 7 out of 11 key indices closed in positive territory. The Nifty IT index led the gains, rising 1.62 per cent to log its best Intraday performance in the past 10 days. Optimism over the US federal government’s progress on its budget deal supported sentiment for Indian technology companies. Major IT stocks such as Tata Consultancy Services (TCS), HCLTech, Wipro, and Infosys advanced between 1 per cent and 2.5 per cent. In contrast, the Nifty Media index declined 1.04 per cent.

In stock-specific action, Trent Ltd fell 7.43 per cent after reporting its slowest quarterly revenue growth since 2021. Lupin Ltd rose nearly 1 per cent as quarterly profit surged 73.3 per cent on strong demand for respiratory drugs. Hindustan Aeronautics Ltd (HAL) gained 3.5 per cent after signing an agreement to purchase 113 engines from General Electric to power the advanced variant of its Tejas fighter jets.

Infosys contributed 30.01 points to Nifty’s gains, followed by Reliance Industries Ltd adding 17.86 points and Bajaj Finance Ltd contributing 11.60 points. On the downside, Trent Ltd, Eternal Ltd, and Max Healthcare Institute Ltd dragged the index by 16.61 points, 6.53 points, and 5.75 points, respectively.

The broader markets also closed positive, with the Nifty Midcap 100 index up 0.47 per cent and the Nifty Smallcap 100 index up 0.35 per cent.

Market breadth showed a slightly positive tone. Out of 3,233 stocks traded on the NSE, 1,502 advanced, 1,637 declined, and 94 remained unchanged. A total of 85 stocks hit new 52-week highs, while 149 touched 52-week lows. Additionally, 96 stocks were locked in Upper Circuits, and 88 hit Lower Circuits.

Market Update at 12:30 PM: After three consecutive sessions of losses, Indian stock markets traded higher on Monday, supported by firm global cues. Gains in information technology and pharmaceutical stocks lifted investor sentiment.

As of 12 PM, the BSE Sensex was trading at Rs 83,650.73, up 434.45 points or 0.52 per cent, while the NSE Nifty50 quoted at Rs 25,631.10, higher by 138.20 points or 0.54 per cent.

Leading the rally were Infosys, HCL Tech, TCS, L&T, and Asian Paints, which rose up to 2.8 per cent on the BSE. Buying interest was also seen in Bharti Airtel, Tech Mahindra, Reliance Industries, ITC, Tata Motors PV, and HDFC Bank, which contributed to the upward movement. However, losses in Trent (down 7 per cent), Power Grid, Tata Steel, Mahindra & Mahindra, and Eternal capped further upside.

In the broader markets, the Nifty MidCap index gained 0.47 per cent, while the Nifty SmallCap index added 0.43 per cent. Sectorally, the Nifty IT index advanced 2 per cent, followed by the Nifty Metal index at 0.7 per cent. On the downside, the Nifty Media and Nifty PSU Bank indices slipped 0.57 per cent and 0.33 per cent, respectively.

Market Update at 10:20 AM: Indian equities opened higher on Monday, tracking broad gains across Asian markets, on optimism that the historic U.S. government shutdown may soon be resolved. The Nifty 50 rose 0.32 per cent to 25,567.05, while the BSE Sensex added 0.29 per cent to 83,460.6 as of 9:20 am IST.

On the domestic front, 15 of the 16 major sectors advanced in early trade. The broader Small-Cap and Mid-Cap indices rose nearly 0.4 per cent each, indicating a positive market breadth.

Among stocks, Bajaj Auto rose 0.5 per cent, while beauty retailer Nykaa gained 2.7 per cent after reporting a rise in quarterly profit.

Pre-Market Update at 7:40 AM: Equity benchmark indices Sensex and Nifty 50 are expected to open flat on Monday, November 10, tracking mixed global cues. GIFT Nifty trends indicate a muted start as it was trading just 1 point higher at 25,595 around 7:20 AM.

This week, investors will monitor several key market factors such as the ongoing Q2 FY26 earnings season, inflation data, IPO activity, movements in gold prices, foreign investment flows, and updates on the India-US trade deal.

In early Asian trading, markets were mostly higher, while US stock futures gained as reports suggested that lawmakers were nearing a deal to end the 40-day US government shutdown.

Companies announcing Q2 FY26 results today include Bajaj Finance, Oil and Natural Gas Corporation, Solar Industries India, Vodafone Idea, Jindal Stainless, Authum Investment & Infrastructure, Housing & Urban Development Corporation, SJVN, KPIT Technologies, Gujarat Gas, Ather Energy, Emami, and KEC International.

On Friday, November 7, Foreign Institutional Investors (FIIs) were net buyers of equities worth Rs 4,581.34 crore, while Domestic Institutional Investors (DIIs) purchased Rs 6,674.77 crore worth of shares, marking their seventh consecutive session of inflows.

On November 7, Indian markets ended lower for the third straight session due to profit-booking in major sectors. The Nifty 50 slipped 17.40 points (0.07 per cent) to 25,492.30, while the Sensex fell 94.73 points (0.11 per cent) to 83,216.28. Both indices remain about 3 per cent below their record highs, and the India VIX rose 1.21 per cent, staying above 12.5.

Among sectors, five of eleven key indices gained, led by Nifty Metal (up 1.41 per cent) and Nifty PSU Bank (up 0.87 per cent). Nifty IT and Nifty FMCG declined by 0.62 per cent and 0.49 per cent, respectively. Broader markets showed mixed trends with Nifty Midcap 100 finishing positive and Nifty Smallcap 100 slightly lower.

On Wall Street, the Dow Jones Industrial Average rose 74.80 points (0.16 per cent) to 46,987.10, and the S&P 500 gained 8.48 points (0.13 per cent) to 6,728.80. The Nasdaq Composite slipped 49.45 points (0.21 per cent) to 23,004.54. The US Senate is preparing to vote on a bill to reopen the government and extend funding through January 2026.

In Asia, Bank of Japan policymakers noted that the case for raising interest rates is strengthening to support wage growth. In China, inflation rose 0.2 per cent year-on-year in October after a 0.3 per cent decline in September, while producer prices fell 2.1 per cent.

The US dollar index rose 0.2 per cent to 99.740 as weak economic data rekindled global growth concerns. Gold prices increased 0.4 per cent to USD 4,016.92 per ounce but remain about 8 per cent below mid-October highs. Brent crude edged up 0.24 per cent to USD 63.78 per barrel, and WTI crude gained 0.30 per cent to USD 59.93 per barrel amid supply concerns and ongoing US sanctions on Russia.

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