Nifty, Sensex Set to Open Lower Amid Global Sell-Off; IT Stocks in Focus

Pre-Market Update at 7:40 AM: Global cues point to a weak start for Indian equities on Friday, November 14, as Nifty 50 and Sensex track the global sell-off led by losses in technology and AI stocks. Market sentiment may remain volatile ahead of the Bihar Assembly results, with counting for all 243 seats beginning today after voting took place in two phases on November 6 and 11. GIFT Nifty indicated a soft opening, trading 79 points lower at 25,844 around 7:16 AM.

Asian markets opened lower following Wall Street’s sharp decline, where all three major US stock indexes recorded their steepest daily per cent fall in over a month. US markets slumped overnight as traders reduced expectations of near-term rate cuts, citing higher inflation concerns and mixed commentary from Federal Reserve officials. Market odds for a December rate cut dropped to nearly 50 per cent. The end of the 43-day US government shutdown added little support, with the absence of economic data creating uncertainty. The S&P 500 fell 1.66 per cent to 6,737.49, the Nasdaq dropped 2.29 per cent to 22,870.36, and the Dow Jones closed 1.65 per cent lower at 47,457.22.

In the Indian market, benchmark indices ended slightly higher on Thursday, November 13, extending gains for the fourth straight session. The Nifty 50 closed at 25,879.15, up 3.35 points, while the Sensex added 12.16 points to settle at 84,478.67. Sectoral performance was mixed, with five of the eleven major indices advancing. Realty, Metal, Financial Services, Banking and Pharma sectors posted gains, while the Nifty IT Index declined 0.48 per cent, pausing its three-day uptrend. Broader markets underperformed as the Nifty Midcap 100 and Nifty Smallcap 100 ended lower.

Institutional flows remained divergent. On Thursday, Foreign Institutional Investors were net sellers, offloading equities worth Rs 383.68 crore, while Domestic Institutional Investors continued buying, recording Rs 3,091.87 crore of net inflows—marking their fifteenth consecutive session of purchases.

Key earnings scheduled for November 14 include Tata Motors Passenger Vehicles, Siemens, Max Healthcare Institute, Marico, Oil India, MRF, Glenmark Pharma, Narayana Hrudayalaya, Exide Industries, Inox Wind, KIOCL and Sun TV Network, which will announce their Q2 FY26 results.

In the US, jobless claims slightly decreased, with new filings at a seasonally adjusted 227,543 for the week ending November 8, compared with 228,899 the previous week. Federal Reserve official Mary Daly stated it is still early to determine whether rates should be cut in December, noting the policy stance remains neutral.

Gold prices moved higher as the dollar weakened. Spot gold rose 0.3 per cent to USD 4,183 per ounce after a 0.6 per cent decline in the previous session. The dollar index hovered near a two-week low at 99.27, marking a 0.3 per cent weekly drop.

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

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