BSE Oil & Gas

India's equity benchmarks Nifty 50 and Sensex kicked off the November 4 session on a muted note, shifting between mild gains and losses, following tepid cues from Asian markets. Nifty’s record peak may stay out of reach as investors turn cautious amid the Fed’s uncertain stance on a December rate cut, unclear U.S.–India trade talks, and muted Q2 earnings, noted experts.

At 09:15 a.m., the Sensex was up 24.63 points or 0.03 percent at 84,003.12, and the Nifty was up 5.20 points or 0.02 percent at 25,768.55.

On the sectoral front, the Nifty Consumer Durables led the gainers with a 0.46 percent rise, followed by Nifty Metal, Oil &amp; Gas, Media, and Realty, which added up to 0.12 percent. On the other hand, Nifty Auto slipped 0.38 percent, while FMCG, IT, Pharma, PSU Bank, and Private Bank indices also traded lower. The Healthcare index was largely flat, opening with a marginal 0.02 percent dip.

The Nifty 50 showed resilience in the previous session, opening on a flat note but maintaining an upward bias throughout, indicating steady buying interest at lower levels. For today,  Amruta Shinde, Technical &amp; Derivative analyst, Choice Broking said that the immediate resistance is placed at 25,850, followed by 25,900 and 26,000. "On the downside, support levels are seen at 25,600 and 25,650, which may serve as potential accumulation zones for positional traders," Shinde added.

Overnight, the S&amp;P 500 and the Nasdaq closed higher, with artificial intelligence-related deals driving much of the gains even as the Federal Reserve's near-term monetary policy grew increasingly foggy due to scarcity of official U.S. economic data.

The Dow Jones Industrial Average fell 0.48 percent, the S&amp;P 500 gained 0.17 percent and the Nasdaq Composite gained 0.46 percent. Asian stocks opened lower Tuesday after weaker US economic data and uncertainty over the Federal Reserve’s policy outlook weighed on sentiment.

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Nifty extends consolidation, Sensex opens flat amid cautious global cues, muted earnings

India's equity benchmarks Nifty 50 and Sensex kicked off the November 4 session on a muted note, shifting between mild gains and losses, following tepid cues from Asian markets. Nifty’s record peak may stay out of reach as investors turn cautious amid the Fed’s uncertain stance on a December rate cut, unclear U.S.–India trade talks, and muted Q2 earnings, noted experts.

At 09:15 a.m., the Sensex was up 24.63 points or 0.03 percent at 84,003.12, and the Nifty was up 5.20 points or 0.02 percent at 25,768.55.

On the sectoral front, the Nifty Consumer Durables led the gainers with a 0.46 percent rise, followed by Nifty Metal, Oil &amp;amp; Gas, Media, and Realty, which added up to 0.12 percent. On the other hand, Nifty Auto slipped 0.38 percent, while FMCG, IT, Pharma, PSU Bank, and Private Bank indices also traded lower. The Healthcare index was largely flat, opening with a marginal 0.02 percent dip.

The Nifty 50 showed resilience in the previous session, opening on a flat note but maintaining an upward bias throughout, indicating steady buying interest at lower levels. For today,  Amruta Shinde, Technical &amp;amp; Derivative analyst, Choice Broking said that the immediate resistance is placed at 25,850, followed by 25,900 and 26,000. &quot;On the downside, support levels are seen at 25,600 and 25,650, which may serve as potential accumulation zones for positional traders,&quot; Shinde added.

Overnight, the S&amp;amp;P 500 and the Nasdaq closed higher, with artificial intelligence-related deals driving much of the gains even as the Federal Reserve's near-term monetary policy grew increasingly foggy due to scarcity of official U.S. economic data.

The Dow Jones Industrial Average fell 0.48 percent, the S&amp;amp;P 500 gained 0.17 percent and the Nasdaq Composite gained 0.46 percent. Asian stocks opened lower Tuesday after weaker US economic data and uncertainty over the Federal Reserve’s policy outlook weighed on sentiment.

Follow our live blog to catch all the market updates

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.

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Nifty Set For Another Choppy Session On Weekly F&O Expiry; SBI, M&M Q2 Awaited| Opening Bell Live

Nifty Set For Another Choppy Session On Weekly F&amp;O Expiry; SBI, M&amp;M Q2 Awaited| Opening Bell Live

Indian benchmark indices Sensex and Nifty are likely to see a flat opening on November 4, with cues coming from GIFT Nifty, which was trading lower at around 25,892.

Track the latest updates on GIFT Nifty right here on Moneycontrol.

Benchmark indices ended marginally higher in a rangebound session on November 3, with largecap shares underperforming while the midcap index hit a 52-week high.

The market saw a volatile session, however, buying in realty, telecom, PSU banks helped Nifty recover from the lows of 25,645.50. At close, the Sensex was up 39.78 points or 0.05 percent at 83,978.49, and the Nifty was up 41.25 points or 0.16 percent at 25,763.35. The broader indices outperformed the main indices with BSE Midcap index rising 0.6 percent and smallcap index adding 0.7 percent at close.

Here is how financial markets across the globe fared overnight:

GIFT Nifty (Down)

The GIFT Nifty is trading marginally lower at around 25,892, indicating a flat to negative start for the day.

Asian Equities (Mixed)

Asian stocks opened lower Tuesday after weaker US economic data and uncertainty over the Federal
Reserve’s policy outlook weighed on sentiment.



US Equities (Mixed)

The S&amp;amp;P 500 and the Nasdaq closed higher on Monday, with artificial intelligence-related deals driving much of the gains even as the Federal Reserve's near-term monetary policy grew increasingly foggy due to scarcity of official U.S. economic data.

The Dow Jones Industrial Average fell 226.19 points, or 0.48%, to 47,336.68, the S&amp;amp;P 500 gained 11.77 points, or 0.17%, to 6,851.97 and the Nasdaq Composite gained 109.77 points, or 0.46%, to 23,834.72.



Dollar Index (Up)

The dollar was steady on Tuesday, hovering near a three-month high as a divided Federal Reserve spurred traders to rein in interest rate cut wagers while investors awaited an Australian policy meeting where the central bank is likely to stand pat.



US Bond Yield (Down)

The yield on the US 10-year Treasury and 2-year Treasury were down marginally at 4.10 percent and 3.60 percent, respectively.



Asian Currencies (Slip)

Except Philippines Peso, all other Asian currencies were trading lower with South Korean Won and Taiwan Dollar lost the most.



Crude (Slips)

Oil prices were little changed early on Tuesday as markets weighed OPEC+'s decision to pause output hikes in the first quarter even as concerns over a looming supply glut persisted.



Gold (Down)

Gold steadied as traders digested commentary from Federal Reserve policymakers for clues on the bank’s next move on interest rates.



Fund Flow Action

The selling from Foreign Institutional Investors (FIIs) continued on fourth consecutive day as they sold equities of Rs 1883 crore on November 1. However, the Domestic Institutional Investors (DIIs) continued their buying on the 8th consecutive session as they purchased equities of over Rs 3500 crore on the same day.



Hope you're all set for today's trade. We wish you a profitable day ahead.

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.

First Tick: Top global cues to watch in today’s trade

With earnings outlook improving, Nikunj Doshi, the Managing Partner and CIO-PMS at Bay Capital Investment Advisors believes liquidity will follow.

Hence, he expects foreign institutional investors to return strongly with larger inflows in Q1 of CY26, supported by relative macro stability and India’s consistent growth story.

Among sectors, he continues to be very positive on digital-first companies, as many of them are at the cusp of reporting hyperbolic growth in both revenues and profitability. Edited excerpts:

Do you think that with earnings largely priced in by the market, the focus will now shift to the progress of the India-US trade deal?

Market participants have always been concerned about the impact of US tariffs, and that remains an overhang. However, what’s interesting this time is that the market is also witnessing consistent upgrades in corporate earnings estimates, suggesting that the underlying momentum is improving. The future outlook now appears much brighter with domestic demand picking up, private and public capex finally taking off, and earnings revisions turning positive.

While the India–US trade deal will certainly add another layer of confidence, the near-term focus remains on sustained earnings delivery and macro stability.

What could be the possible market triggers — both positive and negative, excluding the India-US trade deal — for the remainder of FY26?

Market is hungry for growth in corporate earnings and liquidity flows. With earnings outlook improving, we believe liquidity will follow. We expect foreign institutional investors to return strongly with larger inflows in Q1 of CY26, supported by relative macro stability and India’s consistent growth story.

That said, key risks lie in global geopolitical developments, potential commodity price spikes, and any resurgence of inflation that could alter rate expectations. Overall, we remain positive on the Indian markets but alert to external uncertainties.

Do you expect the outlook for the IT sector to improve further in the December and March quarters? Are you a selective buyer in this space?

IT services sector is undergoing significant transformation/disruption with developments in AI space. We have seen several large companies retrenching middle level staff and hiring new more adaptable talents. This churn may continue for few more quarters. We therefore remain skeptical about pure IT services companies in near future.

Which sectors, in your view, deserve higher weightage in a portfolio at this stage?

We continue to be very positive on digital-first companies, as many of them are at the cusp of reporting hyperbolic growth in both revenues and profitability. With mobile and internet penetration deepening across India, combined with the rise of omni-channel business models and scalable platforms, these firms are positioned to benefit immensely from operating leverage.

We also see opportunities in consumption-oriented sectors, infrastructure, and manufacturing plays that are aligned with India’s long-term growth story. Together, these trends offer significant potential for investors seeking both growth and earnings visibility over the medium term.

Do you expect the strong momentum in the primary market to continue, with a flood of IPOs in the year ahead?

Primary market is likely to remain buoyant with the kind of response it is attracting from both institutional and retail investors. While IPOs suck liquidity from secondary markets in short term but it creates a huge scope to deploy large capital for foreign investors, who are looking at liquidity/depth in markets.

Do you still see the possibility of another 50–75 bps cut in the Fed funds rate going forward?

Most experts believe 50bps rate cut in US over next couple of quarters. However, this remains contingent on incoming data—particularly inflation trends, household consumption, and the trajectory of US employment numbers during the festive and holiday season.

If inflation moderates further while growth remains resilient, the Fed could take a measured approach toward easing policy to support stability. Conversely, any sign of demand resurgence or sticky inflation might delay rate action.

What could be the possible impact on equity, USD and gold prices if the US Federal Reserve refrains from further rate cuts?

If US Fed refrains from rate cut in next review then it would be on the back of strong economic fundamentals and in that case Equity and USD may continue to do well but Gold may see some correction. Essentially, the absence of rate cuts would reflect confidence in the economy rather than policy restraint, which markets may interpret positively.

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.

Daily Voice: Bay Capital’s Nikunj Doshi sees strong FII comeback in Q1CY26, bullish on digital-first firms

With earnings outlook improving, Nikunj Doshi, the Managing Partner and CIO-PMS at Bay Capital Investment Advisors believes liquidity will follow.

Hence, he expects foreign institutional investors to return strongly with larger inflows in Q1 of CY26, supported by relative macro stability and India’s consistent growth story.

Among sectors, he continues to be very positive on digital-first companies, as many of them are at the cusp of reporting hyperbolic growth in both revenues and profitability. Edited excerpts:

Do you think that with earnings largely priced in by the market, the focus will now shift to the progress of the India-US trade deal?

Market participants have always been concerned about the impact of US tariffs, and that remains an overhang. However, what’s interesting this time is that the market is also witnessing consistent upgrades in corporate earnings estimates, suggesting that the underlying momentum is improving. The future outlook now appears much brighter with domestic demand picking up, private and public capex finally taking off, and earnings revisions turning positive.

While the India–US trade deal will certainly add another layer of confidence, the near-term focus remains on sustained earnings delivery and macro stability.

What could be the possible market triggers — both positive and negative, excluding the India-US trade deal — for the remainder of FY26?

Market is hungry for growth in corporate earnings and liquidity flows. With earnings outlook improving, we believe liquidity will follow. We expect foreign institutional investors to return strongly with larger inflows in Q1 of CY26, supported by relative macro stability and India’s consistent growth story.

That said, key risks lie in global geopolitical developments, potential commodity price spikes, and any resurgence of inflation that could alter rate expectations. Overall, we remain positive on the Indian markets but alert to external uncertainties.

Do you expect the outlook for the IT sector to improve further in the December and March quarters? Are you a selective buyer in this space?

IT services sector is undergoing significant transformation/disruption with developments in AI space. We have seen several large companies retrenching middle level staff and hiring new more adaptable talents. This churn may continue for few more quarters. We therefore remain skeptical about pure IT services companies in near future.

Which sectors, in your view, deserve higher weightage in a portfolio at this stage?

We continue to be very positive on digital-first companies, as many of them are at the cusp of reporting hyperbolic growth in both revenues and profitability. With mobile and internet penetration deepening across India, combined with the rise of omni-channel business models and scalable platforms, these firms are positioned to benefit immensely from operating leverage.

We also see opportunities in consumption-oriented sectors, infrastructure, and manufacturing plays that are aligned with India’s long-term growth story. Together, these trends offer significant potential for investors seeking both growth and earnings visibility over the medium term.

Do you expect the strong momentum in the primary market to continue, with a flood of IPOs in the year ahead?

Primary market is likely to remain buoyant with the kind of response it is attracting from both institutional and retail investors. While IPOs suck liquidity from secondary markets in short term but it creates a huge scope to deploy large capital for foreign investors, who are looking at liquidity/depth in markets.

Do you still see the possibility of another 50–75 bps cut in the Fed funds rate going forward?

Most experts believe 50bps rate cut in US over next couple of quarters. However, this remains contingent on incoming data—particularly inflation trends, household consumption, and the trajectory of US employment numbers during the festive and holiday season.

If inflation moderates further while growth remains resilient, the Fed could take a measured approach toward easing policy to support stability. Conversely, any sign of demand resurgence or sticky inflation might delay rate action.

What could be the possible impact on equity, USD and gold prices if the US Federal Reserve refrains from further rate cuts?

If US Fed refrains from rate cut in next review then it would be on the back of strong economic fundamentals and in that case Equity and USD may continue to do well but Gold may see some correction. Essentially, the absence of rate cuts would reflect confidence in the economy rather than policy restraint, which markets may interpret positively.

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.

Sensex Today | Stock Market LIVE Updates: BSE midcap and smallcap indices are trading flat. Shriram Finance, Titan Company, Cipla, Bajaj Finserv, Trent were among major gainers on the Nifty, while losers were Tata Consumer, Maruti Suzuki, ONGC, Apollo Hospitals, Hindalco. Among sectors, telecom index up 1%, while IT, auto, FMCG, power, PSU indices trading in the red.

Stock Market LIVE Updates: Sensex down 170 pts, Nifty at 25,700; auto, IT, FMCG drag

Live Blog

Sensex Today | Stock Market LIVE Updates: BSE midcap and smallcap indices are trading flat. Shriram Finance, Titan Company, Cipla, Bajaj Finserv, Trent were among major gainers on the Nifty, while losers were Tata Consumer, Maruti Suzuki, ONGC, Apollo Hospitals, Hindalco. Among sectors, telecom index up 1%, while IT, auto, FMCG, power, PSU indices trading in the red.

12 out of 17 years BSE Oil & Gas has given negative returns in November.

Type	R1	R2	R3	PP	S1	S2	S3
Classic	29,087.91	29,260.41	29,528.70	28,819.62	28,647.12	28,378.83	28,206.33
Fibonacci	28,988.00	29,092.03	29,260.41	28,819.62	28,651.24	28,547.21	28,378.83
Camarilla	28,955.82	28,996.22	29,036.63	28,819.62	28,875.00	28,834.60	28,794.19

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