Taking Stock: Nifty below 24,150, Sensex falls 55 points; oil and gas, realty, media major drag

Market Today

Indian equities ignored positive global markets after the US Federal Reserve cut its benchmark lending rate by a quarter percentage point. The benchmark indices ended lower for the second consecutive session on November 8 with Nifty below 24,150.

At close, the Sensex was down 55.47 points or 0.07 percent at 79,486.32, and the Nifty was down 51.15 points or 0.21 percent at 24,148.20.

For the week, BSE Sensex was down 0.3 percent and Nifty50 index fell 0.6 percent.

M&M, Titan Company, Tech Mahindra, Infosys and Nestle were among major gainers on the Nifty, while losers were Coal India, Tata Steel, Trent, Asian Paints and Shriram Finance.

Among sectors, IT index was up 0.7 percent, while media, PSU Bank, metal, oil & gas, power, realty declined 1-2 percent.

The BSE midcap index shed 1 percent and smallcap index was down 1.6 percent.

More than 220 stocks touched their 52-week high on the BSE, including, Indian Hotels, Page Industries, Coforge, NALCO, Federal Bank, Apollo Hospitals, DCM Shriram, Persistent Systems, City Union Bank, among others. Click To View More

Outlook for November 11

Index	Prices	Change	Change%
Sensex	82,500.82	328.72	+0.40%
Nifty 50	25,285.35	103.55	+0.41%
Nifty Bank	56,609.75	417.70	+0.74%

Nifty 50 25,285.35 103.55 (0.41%)

Fri, Oct 10, 2025

• 1D
• 5D
• 1M
• 3M
• 6M
• 1Y
• 2Y

Biggest Gainer	Prices	Change	Change%
Cipla	1,561.80	48.70	+3.22%

Biggest Loser	Prices	Change	Change%
Tata Steel	173.86	-2.56	-1.45%

Best Sector	Prices	Change	Change%
Nifty PSU Bank	7695.80	126.50	+1.67%

Worst Sector	Prices	Change	Change%
Nifty Metal	10261.55	-94.65	-0.91%

Rupak De, Senior Technical Analyst, LKP Securities

The 24,000 level is expected to serve as strong support for the index. If it holds above this level, Nifty bulls may still have an opportunity to regain momentum. However, a break below 24,000 could further weaken the market.

The RSI indicator remains in a positive crossover, indicating that short-term momentum is likely to stay strong. In the near term, the index may recover toward 24,500, but a dip below 24,000 could lead to a market correction.

Ajit Mishra – SVP, Research, Religare Broking

The markets traded lackluster, ending slightly lower as the consolidation phase continued. After an initial dip, the Nifty saw sharp fluctuations in the early hours before settling into a range-bound movement for the rest of the session. Sector-wise, the trend was mixed, with IT and FMCG showing gains while realty and energy were among the top decliners. Broader indices faced pressure, dropping between 1% and 1.5%.

This mixed sectoral trend is leaving participants uncertain about the market's next direction. While IT stocks have regained momentum following last week’s dip, the banking sector remains stuck in a range. Given the current scenario, a cautious stance with a hedged approach is advisable until clearer market signals emerge. Meanwhile, investors could use this period to selectively accumulate quality stocks available at attractive valuations.

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.