BSE 250 SMALLCAP

Rebound in metal, banking and broader indices helped the market to recover from the day's low to end with little change in the volatile session on November 7.

Tracking weak global cues, the market opened lower and extended the losses as the day progress, dragging Nifty to the day's low at 25,318.45, however, a sharp recovery in the mid-to-latter part of the session, led by metal, auto, banking names helped to end near day's high.

At close, the Sensex was down 94.73 points or 0.11 percent at 83,216.28, and the Nifty was down 17.40 points or 0.07 percent at 25,492.30.

Broader indices recovered nearly 1.5 percent from day's low with BSE midcap index rising 0.2 percent and smallcap index ending on a flat note.

For the week, BSE Sensex and Nifty shed nearly 1 percent each.

Also Read: <a href="https://www.moneycontrol.com/news/business/markets/india-s-gold-etfs-draw-850-million-in-october-second-highest-in-asia-13658027.html">India's Gold ETFs draw $850 million in October, second highest in Asia</a>

Among sectors, metal index added 1.4%, while IT, Consumer Durables, FMCG, telecom shed 0.5% each.

Shriram Finance, Adani Enterprises, Tata Steel, Bajaj Finance, M&amp;M were among major gainers on the Nifty, while losers were Bharti Airtel, Tata Consumer, Apollo Hospitals, Tech Mahindra and Interglobe Aviation.

Also Read: <a href="https://www.moneycontrol.com/news/business/markets/there-are-still-a-couple-of-years-left-for-ai-bubble-before-the-fall-neelkanth-mishra-13659486.html">There are still a couple of years left for AI bubble before the fall: Neelkanth Mishra</a>

In stock-specific action, GMM Pfaudler shares fell 4% despite Q2 consolidated profit increases 172%, Lupin shares gained after Q2 profit jumps 73%, ABB India share price shed 4% as profit declines in Q3CY25, Hexaware Technologies share price slipped 4% on weak Q3 numbers, Bharti Airtel shares slipped 4% post block deal of 5.1 crore shares, Amber Enterprises India share price shed 7% on posting losses in Q2, Radico Khaitan shares gained nearly 4% on product launch and expansion plans, Venkys share price slipped 8 percent on posting losses on Q2.

Also Read: <a href="https://www.moneycontrol.com/news/business/mutual-funds/india-s-next-leg-of-rally-quant-mf-predicts-new-all-time-highs-launches-innovative-smid-long-short-fund-13658759.html">India’s next leg of rally: Quant MF predicts new all-time highs, launches innovative SMID long-short fund</a>

Nearly 100 stocks touched their 52-week high on the BSE, including L&amp;T Finance,Shriram Finance, Bank of India, UPL, SBI Life, Canara Bank, CCL Products, Chennai Petroleum Corporation, Paytm, AU Small Finance Bank, Aditya Birla Capital, Cummins, among others. <a href="https://www.moneycontrol.com/stocks/marketstats/bsehigh/index.php">Click to View More</a>

New Listing

Studds Accessories shares listed with 3.4 percent discount to its initial public offering (IPO) price at Rs 565 per share on the NSE, against the price band of Rs 557-585 per share. The shares of helmets manufacturer ended at Rs 558.40, down 4.5 percent.

Outlook for November 10

Ajit Mishra – SVP, Research, Religare Broking

Markets traded volatile on Friday and ended nearly flat, offering a much-needed breather after the recent decline. After a soft start, the Nifty index witnessed a gradual recovery through the session and eventually settled at 25,492.30 mark. On the sectoral front, metals, banking, and financials rebounded strongly, while IT and FMCG remained subdued. The broader market showed a mixed trend, with the midcap index gaining over half a percent while the smallcap index closed marginally lower.

The recent phase reflects a cautious stance among participants amid persistent global headwinds and the absence of any major domestic triggers. Sectoral pressure was further accentuated by a few soft earnings, which also led to profit-taking in some of the recently outperforming sectors.

Technically, the Nifty managed to hold its trendline support on the daily chart after retracing nearly half of the previous rally. Stability above the 25,600 level could help rebuild trader confidence and pave the way for a move towards the 25,800–26,000 zone. On the downside, 25,300 will continue to act as key support in case of any further dip.

Meanwhile, we maintain our view to focus on sectors and themes showing consistent strength and use corrections to gradually accumulate quality names. Additionally, holding a few short positions in weaker stocks as a hedge against long trades remains a prudent strategy.

Abhinav Tiwari, Research Analyst at Bonanza

Today, the Indian stock market ended largely flat after a volatile session, with the Sensex closing marginally lower by around 95 points and the Nifty hovering just below the 25,500 level. The flat closing was mainly due to mixed investor sentiment amid ongoing FII selling, coupled with cautious DII support that limited the downside.

Weak global cues, especially from softened technology and AI stocks in US markets, also contributed to subdued trading activity. Additionally, profit booking pressure persisted, particularly in sectors like financials and real estate, while metals outperformed and provided some stability to the benchmarks.

Among sectoral trends, metals outperformed and were one of the few bright spots on the day, benefiting from stable global commodity prices and easing supply concerns. However, financials, real estate, and media stocks faced broad-based selling pressure, dragging the indices lower. Specific corporate results also influenced stock prices with Lumax Industries reporting a 25.8% YoY net profit increase but the share price falling due to negative operating leverage. SEBI’s announcement about plans to review short-selling and stock lending/borrowing mechanism added to market caution. The market also reacted nervously to easing crude oil prices near $63.5 per barrel, which somewhat tempered inflation worries but kept the energy sector subdued.

Going forward, we are expected to remain cautious, focusing on key upcoming US economic data, especially ISM PMI reports, which will influence global risk sentiment and fund flows into India. Domestic factors such as RBI’s policy stance and Q2 earnings from major corporates will also guide market direction.

Vikram Kasat, Head - Advisory, PL Capital

Equity benchmarks ended a volatile session on a muted note on November 7, recovering sharply from early losses. The Sensex slipped 95 points to close at 83,216, while the Nifty settled 17 points lower at 25,492. Markets saw strong intra-day recovery driven by buying in financial and metal stocks, even as FMCG, consumer durables, and telecom names weighed on sentiment.

Among sectors, the metal index gained 1.4%, while IT and FMCG shed about 0.5% each. Broader markets outperformed, with the Nifty Midcap index rising 2% from its day’s low. Shriram Finance, Adani Enterprises, Tata Steel, Bajaj Finance, and M&amp;M were among the top gainers, whereas Bharti Airtel, Tata Consumer, Apollo Hospitals, and Tech Mahindra declined.

The rupee ended almost unchanged at 88.66 against the US dollar.

Going into next week, investors will focus on quarterly earnings from key financials, global market cues, and foreign fund inflows, which will likely dictate short-term momentum and sector rotation trends.

Disclaimer: The views and investment tips expressed by experts on Moneycontrol.com are their own and not those of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decision.

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Taking Stock: Market ends flat amid sharp recovery; auto, metal, financials gain

Rebound in metal, banking and broader indices helped the market to recover from the day's low to end with little change in the volatile session on November 7.

Tracking weak global cues, the market opened lower and extended the losses as the day progress, dragging Nifty to the day's low at 25,318.45, however, a sharp recovery in the mid-to-latter part of the session, led by metal, auto, banking names helped to end near day's high.

At close, the Sensex was down 94.73 points or 0.11 percent at 83,216.28, and the Nifty was down 17.40 points or 0.07 percent at 25,492.30.

Broader indices recovered nearly 1.5 percent from day's low with BSE midcap index rising 0.2 percent and smallcap index ending on a flat note.

For the week, BSE Sensex and Nifty shed nearly 1 percent each.

Also Read: India's Gold ETFs draw $850 million in October, second highest in Asia

Among sectors, metal index added 1.4%, while IT, Consumer Durables, FMCG, telecom shed 0.5% each.

Shriram Finance, Adani Enterprises, Tata Steel, Bajaj Finance, M&amp;amp;M were among major gainers on the Nifty, while losers were Bharti Airtel, Tata Consumer, Apollo Hospitals, Tech Mahindra and Interglobe Aviation.

Also Read: There are still a couple of years left for AI bubble before the fall: Neelkanth Mishra

In stock-specific action, GMM Pfaudler shares fell 4% despite Q2 consolidated profit increases 172%, Lupin shares gained after Q2 profit jumps 73%, ABB India share price shed 4% as profit declines in Q3CY25, Hexaware Technologies share price slipped 4% on weak Q3 numbers, Bharti Airtel shares slipped 4% post block deal of 5.1 crore shares, Amber Enterprises India share price shed 7% on posting losses in Q2, Radico Khaitan shares gained nearly 4% on product launch and expansion plans, Venkys share price slipped 8 percent on posting losses on Q2.

Also Read: India’s next leg of rally: Quant MF predicts new all-time highs, launches innovative SMID long-short fund

Nearly 100 stocks touched their 52-week high on the BSE, including L&amp;amp;T Finance,Shriram Finance, Bank of India, UPL, SBI Life, Canara Bank, CCL Products, Chennai Petroleum Corporation, Paytm, AU Small Finance Bank, Aditya Birla Capital, Cummins, among others. Click to View More

New Listing

Studds Accessories shares listed with 3.4 percent discount to its initial public offering (IPO) price at Rs 565 per share on the NSE, against the price band of Rs 557-585 per share. The shares of helmets manufacturer ended at Rs 558.40, down 4.5 percent.

Outlook for November 10

Ajit Mishra – SVP, Research, Religare Broking

Markets traded volatile on Friday and ended nearly flat, offering a much-needed breather after the recent decline. After a soft start, the Nifty index witnessed a gradual recovery through the session and eventually settled at 25,492.30 mark. On the sectoral front, metals, banking, and financials rebounded strongly, while IT and FMCG remained subdued. The broader market showed a mixed trend, with the midcap index gaining over half a percent while the smallcap index closed marginally lower.

The recent phase reflects a cautious stance among participants amid persistent global headwinds and the absence of any major domestic triggers. Sectoral pressure was further accentuated by a few soft earnings, which also led to profit-taking in some of the recently outperforming sectors.

Technically, the Nifty managed to hold its trendline support on the daily chart after retracing nearly half of the previous rally. Stability above the 25,600 level could help rebuild trader confidence and pave the way for a move towards the 25,800–26,000 zone. On the downside, 25,300 will continue to act as key support in case of any further dip.

Meanwhile, we maintain our view to focus on sectors and themes showing consistent strength and use corrections to gradually accumulate quality names. Additionally, holding a few short positions in weaker stocks as a hedge against long trades remains a prudent strategy.

Abhinav Tiwari, Research Analyst at Bonanza

Today, the Indian stock market ended largely flat after a volatile session, with the Sensex closing marginally lower by around 95 points and the Nifty hovering just below the 25,500 level. The flat closing was mainly due to mixed investor sentiment amid ongoing FII selling, coupled with cautious DII support that limited the downside.

Weak global cues, especially from softened technology and AI stocks in US markets, also contributed to subdued trading activity. Additionally, profit booking pressure persisted, particularly in sectors like financials and real estate, while metals outperformed and provided some stability to the benchmarks.

Among sectoral trends, metals outperformed and were one of the few bright spots on the day, benefiting from stable global commodity prices and easing supply concerns. However, financials, real estate, and media stocks faced broad-based selling pressure, dragging the indices lower. Specific corporate results also influenced stock prices with Lumax Industries reporting a 25.8% YoY net profit increase but the share price falling due to negative operating leverage. SEBI’s announcement about plans to review short-selling and stock lending/borrowing mechanism added to market caution. The market also reacted nervously to easing crude oil prices near $63.5 per barrel, which somewhat tempered inflation worries but kept the energy sector subdued.

Going forward, we are expected to remain cautious, focusing on key upcoming US economic data, especially ISM PMI reports, which will influence global risk sentiment and fund flows into India. Domestic factors such as RBI’s policy stance and Q2 earnings from major corporates will also guide market direction.

Vikram Kasat, Head - Advisory, PL Capital

Equity benchmarks ended a volatile session on a muted note on November 7, recovering sharply from early losses. The Sensex slipped 95 points to close at 83,216, while the Nifty settled 17 points lower at 25,492. Markets saw strong intra-day recovery driven by buying in financial and metal stocks, even as FMCG, consumer durables, and telecom names weighed on sentiment.

Among sectors, the metal index gained 1.4%, while IT and FMCG shed about 0.5% each. Broader markets outperformed, with the Nifty Midcap index rising 2% from its day’s low. Shriram Finance, Adani Enterprises, Tata Steel, Bajaj Finance, and M&amp;amp;M were among the top gainers, whereas Bharti Airtel, Tata Consumer, Apollo Hospitals, and Tech Mahindra declined.

The rupee ended almost unchanged at 88.66 against the US dollar.

Going into next week, investors will focus on quarterly earnings from key financials, global market cues, and foreign fund inflows, which will likely dictate short-term momentum and sector rotation trends.

Disclaimer: The views and investment tips expressed by experts on Moneycontrol.com are their own and not those of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decision.

Benchmark indices Nifty 50 and Sensex  settled on a muted note on November 7, after seeing volatility through the session. The gauges recovered from early weakness but failed to sustain gains amid mixed sectoral trends. Overall market sentiment remained cautious ahead of key global and domestic cues.

At close, the Sensex was down 94.73 points or 0.11 percent at 83,216.28, and the Nifty was down 17.40 points or 0.07 percent at 25,492.30. The market breadth was even, as about 1,962 shares advanced, 2,036 shares declined, and 126 shares were unchanged. So far this week, the Nifty 50 index has slipped nearly 0.8 percent.

Sectoral performance on was mixed, with Nifty Financial Services leading the gains, up 1.25 percent, followed by Nifty Metal which rose 1.41 percent, and Nifty PSU Bank advancing 0.84 percent. Nifty Auto and Nifty Private Bank also gained 0.54 percent and 0.49 percent, respectively.

On the downside, Nifty Consumer Durables slipped 0.71 percent, while Nifty IT and Nifty FMCG dropped 0.59 percent and 0.48 percent, respectively. Nifty Pharma, Nifty Media, and Nifty Healthcare also edged lower, whereas Nifty Realty and Nifty Oil &amp; Gas posted marginal gains.

"This is an ideal time for investors to churn portfolios in favour of fairly-valued large caps. FII selling has reduced the prices of fairly valued large caps particularly in banking and pharmaceuticals where growth prospects continue to be bright," said experts.

On the technical front, the index would need a decisive move past the 25,700 zone to improve the bias from current level and thereafter, expect for further rise after establishing conviction in the coming session.

"With the broader markets also cooling off from the recent peak with profit booking, they arrived near the important 50EMA zone, where one can expect some revival and expect a trend reversal and thereafter anticipate a fresh upward move. The support for the day is seen at 25,400 levels, while the
resistance is seen at 25,700 levels," said Vaishali Parekh, Vice President - Technical Research at PL Capital.

Disclaimer: The views and investment tips expressed by investment experts on Moneycontrol.com are their own and not those of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.

Nifty closes under 25,500, Sensex recovers from intraday losses as metals shine

Benchmark indices Nifty 50 and Sensex  settled on a muted note on November 7, after seeing volatility through the session. The gauges recovered from early weakness but failed to sustain gains amid mixed sectoral trends. Overall market sentiment remained cautious ahead of key global and domestic cues.

At close, the Sensex was down 94.73 points or 0.11 percent at 83,216.28, and the Nifty was down 17.40 points or 0.07 percent at 25,492.30. The market breadth was even, as about 1,962 shares advanced, 2,036 shares declined, and 126 shares were unchanged. So far this week, the Nifty 50 index has slipped nearly 0.8 percent.

Sectoral performance on was mixed, with Nifty Financial Services leading the gains, up 1.25 percent, followed by Nifty Metal which rose 1.41 percent, and Nifty PSU Bank advancing 0.84 percent. Nifty Auto and Nifty Private Bank also gained 0.54 percent and 0.49 percent, respectively.

On the downside, Nifty Consumer Durables slipped 0.71 percent, while Nifty IT and Nifty FMCG dropped 0.59 percent and 0.48 percent, respectively. Nifty Pharma, Nifty Media, and Nifty Healthcare also edged lower, whereas Nifty Realty and Nifty Oil &amp;amp; Gas posted marginal gains.

&quot;This is an ideal time for investors to churn portfolios in favour of fairly-valued large caps. FII selling has reduced the prices of fairly valued large caps particularly in banking and pharmaceuticals where growth prospects continue to be bright,&quot; said experts.

On the technical front, the index would need a decisive move past the 25,700 zone to improve the bias from current level and thereafter, expect for further rise after establishing conviction in the coming session.

&quot;With the broader markets also cooling off from the recent peak with profit booking, they arrived near the important 50EMA zone, where one can expect some revival and expect a trend reversal and thereafter anticipate a fresh upward move. The support for the day is seen at 25,400 levels, while the
resistance is seen at 25,700 levels,&quot; said Vaishali Parekh, Vice President - Technical Research at PL Capital.

Disclaimer: The views and investment tips expressed by investment experts on Moneycontrol.com are their own and not those of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.

Nifty On Track To End Week Above 25,500 As Bank & Metal Stocks Lead Rebound| Closing Bell Live

Nifty On Track To End Week Above 25,500 As Bank &amp; Metal Stocks Lead Rebound| Closing Bell Live

The benchmark equity indices traded volatile on Friday and ended nearly flat as relentless foreign fund outflows and weak trends in global markets hit investors' sentiment. The markets, however, rebounded from early losses as buying emerged at key support levels.

The Sensex declined 94.73 points, or 0.11 percent, to settle at 83,216.28. During the day, it tanked 640.06 points, or 0.76 percent to 82,670.95. The Nifty dipped 17.40 points, or 0.07 percent, to 25,492.30.

<a href="https://www.moneycontrol.com/india/stockpricequote/finance-leasinghire-purchase/shriramfinance/STF">Shriram Finance</a>, Adani Enterprises and Bajaj Finance were among the top gainers in the Nifty50 pack, rising up to 3 percent, while <a href="https://www.moneycontrol.com/india/stockpricequote/telecommunications-service/bhartiairtel/BA08">Bharti Airtel</a> and InterGlobe Aviation were the major laggards, declining up to 4 percent.

Here are the key factors behind the market recovery

1) Value buying: Investors turned to value buying in banking, financial services and metal stocks after recent corrections, lending support to the benchmark indices.

2) Trump hints at India visit: US President Donald Trump on Thursday lauded Prime Minister Narendra Modi, calling him “a great man” and “a friend,” while suggesting he may visit India next year to boost bilateral trade ties. The comments lifted sentiment amid expectations of an early resolution to trade tariffs.

<a href="https://www.moneycontrol.com/news/business/markets/stock-market-live-sensex-nifty-50-share-price-gift-nifty-latest-updates-07-11-2025-liveblog-13658592.html" target="_blank">Stock Market LIVE Updates</a>

3) Firm global cues: Wall Street futures edged higher around noon India time, indicating a positive start for US markets later in the day. The uptick in global sentiment contributed to the rebound in domestic equities.

Disclaimer: The views and investment tips expressed by experts on Moneycontrol are their own and not those of the website or its management. Moneycontrol advises users to check with certified experts before taking any investment decisions.

Sensex settles 500 pts higher from day's low, Nifty above 25,450: 3 reasons behind sharp recovery in markets

The benchmark equity indices traded volatile on Friday and ended nearly flat as relentless foreign fund outflows and weak trends in global markets hit investors' sentiment. The markets, however, rebounded from early losses as buying emerged at key support levels.

The Sensex declined 94.73 points, or 0.11 percent, to settle at 83,216.28. During the day, it tanked 640.06 points, or 0.76 percent to 82,670.95. The Nifty dipped 17.40 points, or 0.07 percent, to 25,492.30.

Shriram Finance, Adani Enterprises and Bajaj Finance were among the top gainers in the Nifty50 pack, rising up to 3 percent, while Bharti Airtel and InterGlobe Aviation were the major laggards, declining up to 4 percent.

Here are the key factors behind the market recovery

1) Value buying: Investors turned to value buying in banking, financial services and metal stocks after recent corrections, lending support to the benchmark indices.

2) Trump hints at India visit: US President Donald Trump on Thursday lauded Prime Minister Narendra Modi, calling him “a great man” and “a friend,” while suggesting he may visit India next year to boost bilateral trade ties. The comments lifted sentiment amid expectations of an early resolution to trade tariffs.

Stock Market LIVE Updates

3) Firm global cues: Wall Street futures edged higher around noon India time, indicating a positive start for US markets later in the day. The uptick in global sentiment contributed to the rebound in domestic equities.

Disclaimer: The views and investment tips expressed by experts on Moneycontrol are their own and not those of the website or its management. Moneycontrol advises users to check with certified experts before taking any investment decisions.

The benchmark equity indices fell sharply on Friday, tracking weak trends in global markets and sustained foreign fund outflows, as investors took to profit booking amid cautious sentiment.

Sensex declined 513.68 points or 0.62 percent to 82,797.33 at around 10:30 a.m., while the broader Nifty fell to 25,356.30, down 153.40 points or 0.6 percent.

<a href="https://www.moneycontrol.com/india/stockpricequote/telecommunications-service/bhartiairtel/BA08" target="_blank">Bharti Airtel</a>, HCL Technologies and Tech Mahindra were among the major laggards in the Nifty50 pack, declining up to 4 percent, while <a href="https://www.moneycontrol.com/india/stockpricequote/trading/adanienterprises/AE13" target="_blank">Adani Enterprises</a> and Shriram Finance were top gainers, rising up to 2 percent.

Key factors behind market decline

1) Weak global cues: In Asian markets, South Korea’s Kospi, Japan’s Nikkei 225 and Hong Kong’s Hang Seng indices traded sharply lower, while Shanghai’s SSE Composite was marginally down. Overnight, US markets ended significantly lower, dragged by a sell-off in technology and artificial intelligence-related shares amid concerns over an ongoing US government shutdown.

2) Persistent FII selling: FIIs sold equities worth Rs 3,263.21 crore on Thursday, marking the seventh straight session of outflows since October 29. Continuous foreign selling has been a key drag on sentiment in recent days, analysts noted.

"The success of the FII strategy of sustained selling in India and moving money to cheaper markets has emboldened them to continue the strategy and continue shorting the market. Short covering can lead to trend reversal but there are no immediate triggers for that in sight. But markets have an uncanny ability to surprise," V K Vijayakumar, Chief Investment Strategist, Geojit Investments Limited, said.

<a href="https://www.moneycontrol.com/news/business/markets/stock-market-live-sensex-nifty-50-share-price-gift-nifty-latest-updates-07-11-2025-liveblog-13658592.html" target="_blank">Stock Market LIVE Updates</a>

3) Crude rises: Brent crude, the global oil benchmark, rose 0.3 percent to USD 63.57 per barrel. Higher crude prices generally weigh on India’s trade balance and inflation outlook.

4) Profit booking: Indian equities are seeing profit-taking amid persistent foreign outflows, offsetting the impact of an improving corporate earnings outlook and expectations of progress in India–U.S. trade talks.

"Sentiment has turned fragile due to profit booking, persistent pessimism and sustained foreign outflows," said Prashanth Tapse, Senior Vice President (Research), Mehta Equities Ltd. "Concerns over a possible delay in US rate cuts due to rising services inflation have further dampened mood, offsetting optimism around the India–US trade talks," he added.

5) Rupee declines: The rupee declined 3 paise to 88.66 against the US dollar as the American currency strengthened and foreign investors kept on withdrawing funds from the Indian capital market. According to forex traders, the Indian rupee was also weighed down amid intense selling in domestic equity markets and upward movement in crude oil prices in the overseas market.

Technical analysis

On the technical front, Anand James, Chief Market Strategist at Geojit Financial Services, said the Nifty’s inability to hold above the 25,630–25,650 zone after early gains has exposed the 50-day simple moving average near 25,200 and the lower Bollinger Band level at 25,088. "The 25,400 region may offer a chance for bulls to regroup," he added.

(PTI Inputs) 

Disclaimer: The views and investment tips expressed by experts on Moneycontrol are their own and not those of the website or its management. Moneycontrol advises users to check with certified experts before taking any investment decisions.

A financial journalist with over 10 years of experience, specialising in tracking stock market movements and fundamental developments that impact investors and the broader economy. A keen observer of global financial markets, I regularly engage with leading market voices to write stories. At Moneycontrol, I focus on decoding market trends, policy shifts and economic changes, driven by a constant passion to learn, analyse, and share knowledge with my readers.

Sensex down 500 pts, Nifty near 25,350: Weak global cues among key factors behind market decline

Sensex news today: Sensex down 500 pts, Nifty near 25,350: Weak global cues among key factors behind market decline

The benchmark equity indices fell sharply on Friday, tracking weak trends in global markets and sustained foreign fund outflows, as investors took to profit booking amid cautious sentiment.

Sensex declined 513.68 points or 0.62 percent to 82,797.33 at around 10:30 a.m., while the broader Nifty fell to 25,356.30, down 153.40 points or 0.6 percent.

Bharti Airtel, HCL Technologies and Tech Mahindra were among the major laggards in the Nifty50 pack, declining up to 4 percent, while Adani Enterprises and Shriram Finance were top gainers, rising up to 2 percent.

Key factors behind market decline

1) Weak global cues: In Asian markets, South Korea’s Kospi, Japan’s Nikkei 225 and Hong Kong’s Hang Seng indices traded sharply lower, while Shanghai’s SSE Composite was marginally down. Overnight, US markets ended significantly lower, dragged by a sell-off in technology and artificial intelligence-related shares amid concerns over an ongoing US government shutdown.

2) Persistent FII selling: FIIs sold equities worth Rs 3,263.21 crore on Thursday, marking the seventh straight session of outflows since October 29. Continuous foreign selling has been a key drag on sentiment in recent days, analysts noted.

&quot;The success of the FII strategy of sustained selling in India and moving money to cheaper markets has emboldened them to continue the strategy and continue shorting the market. Short covering can lead to trend reversal but there are no immediate triggers for that in sight. But markets have an uncanny ability to surprise,&quot; V K Vijayakumar, Chief Investment Strategist, Geojit Investments Limited, said.

Stock Market LIVE Updates

3) Crude rises: Brent crude, the global oil benchmark, rose 0.3 percent to USD 63.57 per barrel. Higher crude prices generally weigh on India’s trade balance and inflation outlook.

4) Profit booking: Indian equities are seeing profit-taking amid persistent foreign outflows, offsetting the impact of an improving corporate earnings outlook and expectations of progress in India–U.S. trade talks.

&quot;Sentiment has turned fragile due to profit booking, persistent pessimism and sustained foreign outflows,&quot; said Prashanth Tapse, Senior Vice President (Research), Mehta Equities Ltd. &quot;Concerns over a possible delay in US rate cuts due to rising services inflation have further dampened mood, offsetting optimism around the India–US trade talks,&quot; he added.

5) Rupee declines: The rupee declined 3 paise to 88.66 against the US dollar as the American currency strengthened and foreign investors kept on withdrawing funds from the Indian capital market. According to forex traders, the Indian rupee was also weighed down amid intense selling in domestic equity markets and upward movement in crude oil prices in the overseas market.

Technical analysis

On the technical front, Anand James, Chief Market Strategist at Geojit Financial Services, said the Nifty’s inability to hold above the 25,630–25,650 zone after early gains has exposed the 50-day simple moving average near 25,200 and the lower Bollinger Band level at 25,088. &quot;The 25,400 region may offer a chance for bulls to regroup,&quot; he added.

(PTI Inputs) 

Disclaimer: The views and investment tips expressed by experts on Moneycontrol are their own and not those of the website or its management. Moneycontrol advises users to check with certified experts before taking any investment decisions.

4 out of 8 years BSE 250 SMALLCAP has given positive returns in November.

Type	R1	R2	R3	PP	S1	S2	S3
Classic	6,852.02	6,887.98	6,944.32	6,795.68	6,759.72	6,703.38	6,667.42
Fibonacci	6,830.94	6,852.72	6,887.98	6,795.68	6,760.42	6,738.64	6,703.38
Camarilla	6,824.52	6,832.98	6,841.44	6,795.68	6,807.60	6,799.14	6,790.68

INDEX CONTRIBUTION - BSE 250 SMALLCAP

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