Taking Stock: 2nd day selling drags Nifty below 19,000; Sensex falls 284 points

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The Indian equity indices ended on a negative note for the second straight session on November 1 with the Nifty below 19,000, weighed by weak manufacturing data for the month of October and ahead of outcome of FOMC meeting tonight.

At close, the Sensex was down 283.60 points or 0.44 percent at 63,591.33, and the Nifty was down 90.45 points or 0.47 percent at 18,989.20.

Despite positive global cues, the market started on a negative note and remained rangebound in the first half. However, it extended losses in the second half amid selling in most of the sectors, before closing near the day’s low.

Also Read - India's manufacturing PMI sinks to an 8-month low of 55.5 in Oct

Stocks and sectors

Top losers on the Nifty included Adani Enterprises, Coal India, Adani Ports, SBI Life Insurance and Asian Paints, while gainers were Sun Pharma, BPCL, Hindalco Industries, Bajaj Auto and Reliance Industries.

Except healthcare, oil & gas and realty all other sectoral indices ended in the red with auto, capital goods, metal, Information Technology and power down 0.5-1.5 percent each.

The BSE midcap index shed 0.4 percent, while smallcap index ended on a flat note.

Index	Prices	Change	Change%
Sensex	80,983.31	715.69	+0.89%
Nifty 50	24,836.30	225.20	+0.92%
Nifty Bank	55,347.95	712.10	+1.30%

Nifty 50 24,836.30 225.20 (0.92%)

Wed, Oct 01, 2025

• 1D
• 5D
• 1M
• 3M
• 6M
• 1Y
• 2Y

Biggest Gainer	Prices	Change	Change%
Tata Motors	718.35	38.15	+5.61%

Biggest Loser	Prices	Change	Change%
Bajaj Finance	987.70	-11.20	-1.12%

Best Sector	Prices	Change	Change%
Nifty Bank	55347.95	712.15	+1.30%

Worst Sector	Prices	Change	Change%
Nifty PSU Bank	7499.20	-27.55	-0.37%

A long build-up was seen in Vodafone Idea, Birlasoft and Indus Towers, while a short build-up was seen in Jindal Steel, India Cements and Ambuja Cements.

Among individual stocks, a volume spike of more than 300 percent was seen in Birlasoft, Vedanta and Max Financial Services.

Vodafone Idea, Birlasoft, Godfrey Phillip, Global Health, DLF, Angel One, Welspun India, Persistent Systems, Sanofi India and Solar Industries touched their 52-week high on the BSE. Click here for the full list

Outlook for November 2

Prashanth Tapse, Senior VP (Research), Mehta Equities

Investors continued to trade with caution and trimmed their equity exposure as markets extended fall for the second straight session amid selling in metal, power, auto and banking stocks while gains in telecom stocks curbed losses. FIIs offloading shares in the domestic market continues to hurt sentiment while strong US growth indicators indicate that interest rates may stay elevated going ahead. Investors sentiment was also primarily clouded by lingering concerns about corporate India’s Q2 earnings which as of now is uninspiring. Technically, upside in Nifty could be seen only above the biggest hurdle at 19289 mark, while support is placed at 18823 mark.

Kunal Shah, Senior Technical & Derivative Analyst at LKP Securities:

Prior to the FOMC meeting, the index faced selling pressure from higher levels but successfully held the 18,940 support level. Immediate resistance on the upside is identified at 19,100, and a breakout above this level may trigger short-covering moves toward the 19,250-19,300 range. Conversely, if the lower-end support at 18,940 is breached on a closing basis, it could intensify selling pressure, potentially pushing the index to new lows.

The Bank Nifty index formed a doji candle, suggesting a state of indecision at the current levels, with a battle between bulls and bears. Immediate resistance is observed at 43,000, where significant open interest is concentrated on the call side. A breach above this level could trigger short-covering moves towards 43,500. Conversely, the lower-end support is positioned at 42,400, and if it is breached on a closing basis, it may escalate the selling pressure.

Aditya Gaggar Director of Progressive Shares

After forming a bearish candle on the previous day, follow-through action was seen in today's session and bears struck back by breaching the psychological support of 19,000. Nifty50 corrected by 90.45 points or 0.47% and settled at 18,989.15. Metal was the major laggard in today's trade followed by IT while the Realty segment extended its northward journey. Selective buying was observed in the Pharma and Media sectors. Mid and Smallcaps also corrected but managed to outperform heavyweights. Back-to-back bearish candles on the daily chart indicate that the relief rally seems to be over and now the Index is heading toward filling the bullish gap zone i.e. 18,865-18,925.

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