Major indices
| Index | Close | Change (pts) | % Change | Notes |
|---|---|---|---|---|
| Nifty 50 | 25 ,910.05 | +30.90 | +0.12 % | Extended winning streak to five sessions; regained the 25,900 mark after recovering ~170 points from day’s low. |
| BSE Sensex | 84 ,562.78 | +84.11 | +0.10 % | Rebounded ~533 points from the low; ended at a record closing high. |
| Nifty Bank | 58 ,517.55 | +135.60 | +0.23 % | Reached a fresh intraday high around 58,615 before profit‑taking; strong PSU‑bank buying. |
| Nifty IT | 36 ,301.25 | −378.20 | −1.03 % | Under pressure on global technology sell‑off; Infosys and Eicher Motors dragged. |
| BSE Smallcap | 53 ,130.68 | +34.41 | +0.06 % | Broader market breadth remained weak (1,248 advances vs 1,600 declines on NSE). |
Key statistics: Market breadth stayed negative as profit‑taking dominated small & mid‑caps. Volatility (India VIX) eased near 12 levels, suggesting traders remain comfortable despite global worries. Foreign investors were net sellers for a third session, but heavy domestic institutional buying more than offset the outflows.
Sectoral snapshot
- Top performing sectors: Public‑sector banks (PSU Bank index +1.17 %), pharmaceuticals (+0.59 %), FMCG (+0.57 %), financials and consumer durables edged higher. PSU banks rallied after a decisive NDA victory in the Bihar elections and expectations of government‑capex push.
- Underperformers: Information technology (−1.03 %) was the biggest laggard as global tech stocks corrected. Auto, metals, real estate and chemical indices slipped 0.3–0.9 %. Autos were hit by weak earnings from Tata Motors and profit‑taking in Eicher Motors; metals tracked softer Chinese data.
Top Gainers and Losers (NSE & BSE)
NSE Top Gainers
| Stock | Last price (₹) | Change (₹) | % Gain | Comments |
|---|---|---|---|---|
| Bharat Electronics (BEL) | 426.85 | +7.05 | +1.68 % | Strength in defence & PSU stocks; robust order visibility. |
| Trent Ltd. | 4 ,391.20 | +64.80 | +1.50 % | Retail major continued momentum on strong Q2 results. |
| State Bank of India (SBI) | 967.85 | +13.85 | +1.45 % | PSU bank index leader; benefiting from lower credit costs and election outcome. |
| Adani Enterprises | 2 ,516.80 | +28.60 | +1.15 % | Rebound in Adani group stocks after volatility; higher coal and airport volumes. |
NSE Top Losers
| Stock | Last price (₹) | Change (₹) | % Loss | Comments |
|---|---|---|---|---|
| Infosys | 1 ,502.80 | −39.00 | −2.53 % | US tech sell‑off hurt sentiment; weaker discretionary demand. |
| Eicher Motors | 6 ,695.00 | −160.00 | −2.33 % | Profit‑booking after strong run‑up; cautious outlook on exports. |
| Tata Motors PV (TMPV) | 391.20 | −6.75 | −1.70 % | Investors reacted to sharp Q2FY26 loss and demerger‑related uncertainties. |
| JSW Steel | 1 ,167.80 | −16.10 | −1.36 % | Tracking softer global metal prices and concerns over Chinese demand. |
BSE Gainers & Losers
| Category | Stock | Last price (₹) | Change (₹) | % Change |
|---|---|---|---|---|
| Top gainers (BSE) | Eternal Ltd. | 303.55 | +5.85 | +1.97 % |
| Bharat Electronics | 426.95 | +7.15 | +1.70 % | |
| Trent Ltd. | 4 ,389.40 | +67.45 | +1.56 % | |
| Axis Bank | 1 ,242.75 | +17.85 | +1.46 % | |
| Top losers (BSE) | Infosys | 1 ,502.50 | −39.85 | −2.58 % |
| Tata Motors PV (TMPV) | 391.60 | −6.45 | −1.62 % | |
| Tata Steel | 174.15 | −2.45 | −1.39 % | |
| ICICI Bank | 1 ,371.90 | −14.05 | −1.01 % |
What Moved the Market
- Late‑afternoon buying: The market spent most of the session in the red following weak global cues but witnessed a sharp rebound in the last 30 minutes. Buying in PSU banks, select financials and Adani group names lifted the indices into positive territory.
- Bihar election outcome: Exit polls accurately predicted a decisive win for the ruling NDA coalition in the Bihar Assembly elections. The victory removed political uncertainty, encouraging investors to accumulate stocks linked to infrastructure and public‑sector investment.
- Weakness in IT and autos: Infosys, Eicher Motors, Tata Motors PV and JSW Steel were among the top drags. IT stocks underperformed as Wall Street tech shares corrected and demand commentary remained cautious. Autos slipped after Tata Motors CV business swung to a loss, while profit‑taking hit premium two‑wheeler maker Eicher Motors.
- Mixed corporate earnings: Results continued to drive stock‑specific moves. Tata Motors’ demerged commercial‑vehicle arm (TMCV) posted a net loss of ₹867 crore in Q2FY26 (against a profit year earlier) due to mark‑to‑market losses on investments; revenue rose ~6 %. MRF reported a 12.3 % jump in quarterly profit to ₹5.12 billion on strong tyre demand. FMCG major Marico’s net profit slipped marginally to ₹432 crore but revenue surged 30.7 % to ₹3,482 crore, helped by international business growth. Gold‑loan provider Muthoot Finance delivered an 87 % jump in profit to ₹2,345 crore, with net interest income up 58 %.
- Macro factors: October CPI inflation cooled to 5.02 % (within RBI’s tolerance band). However, FII flows remained negative and the rupee weakened modestly; domestic mutual funds continued to buy equities aggressively.
Global Cues
- US Federal Reserve expectations: Comments from US Federal Reserve officials signalled limited room for easing at the December meeting. Fed funds futures priced only a 50 % chance of a rate cut, down from 63 % the previous day. Rising US Treasury yields (10‑year at ~4.12 %) pressured risk assets.
- Weak Chinese data: China’s factory output and retail sales grew at their slowest pace in more than a year, adding to growth concerns and dragging metal and commodity prices lower.
- Global market sell‑off: Wall Street snapped a four‑day rally and Asia‑Pacific equities fell about 1.5 %. European futures were mixed. The dollar index traded near a monthly low even as bond yields firmed. Oil prices firmed ~1.5 % after a Ukrainian drone strike damaged a Russian oil depot.
Stocks to watch
- Momentum winners: Bharat Electronics, Trent and SBI led gains; continued buying could push these PSU/retail names higher. Adani Enterprises also looks interesting as the group stocks stabilise.
- Financials and PSU banks: Strong buying interest in SBI, Axis Bank and other PSU banks may continue if political and macro cues remain supportive.
- IT and autos: Weakness in Infosys, Eicher Motors and Tata Motors PV could extend if global tech sentiment stays soft or if earnings disappoint further.
- Earnings‑driven names: Keep an eye on Tata Motors CV, MRF, Marico, Muthoot Finance, Natco Pharma, Exide Industries and Oil India after their quarterly results; price action may remain volatile.
- Research picks: Analysts at Bajaj Broking highlighted CG Power & Industrial Solutions and Apollo Hospitals Enterprise as top picks for the week given structural uptrends and bullish fundamentals.
Corporate updates
| Company / Event | Update | Impact |
|---|---|---|
| Tata Motors CV | Demerged commercial‑vehicle unit swung to a ₹867‑cr net loss in Q2FY26. Revenue grew ~6 %. Loss largely due to mark‑to‑market losses on Tata Capital investment. | Stock fell over 3 % intraday but recovered, yet remains under pressure due to market‑share concerns. |
| MRF Ltd. | Net profit up 12.3 % YoY to ₹5.12 billion; revenue up 7.2 % to ₹72.5 billion. | Shares gained modestly; healthy tyre demand from OEMs supports outlook. |
| Marico Ltd. | Q2FY26 net profit dipped slightly to ₹432 crore (from ₹433 cr), while consolidated revenue jumped 30.7 % to ₹3,482 crore. | Stock reacted positively due to strong topline growth and stable volume guidance. |
| Muthoot Finance | Q2FY26 profit surged 87 % to ₹2,345 crore; net interest income up 58 %. | Robust numbers buoyed sentiment in NBFC space. |
| Natco Pharma | Q2 consolidated net profit fell 23.4 % to ₹517.9 crore on lower oncology sales. | Stock underperformed as margins compressed. |
| Other highlights | Pine Labs made a strong market debut, jumping ~29 % above the issue price; Muthoot Finance shares rallied 10 % on strong growth guidance; Transformers & Rectifiers hit a 10 % upper circuit after winning World Bank‑funded orders. | Indicate appetite for select newly‑listed and mid‑cap names. |
Technical Outlook & Tone for the next trading day
- Nifty 50: The index closed above 25,900 after reclaiming the 21‑day moving average around 25,750, which now acts as immediate support. Strong support lies at 25,600. On the upside, 26,000 is the first hurdle; a sustained break could open the way to 26,200 and 26,500. Momentum indicators (RSI >60) remain bullish, suggesting buying on dips remains the preferred strategy as long as the index holds above 25,600.
- Bank Nifty: After notching a new intraday high, Bank Nifty ended near 58,517. Immediate support lies at 58,200, with stronger support at 58,000. Resistance is seen at 58,700 and then 59,000. Sector leadership from PSU banks may continue to underpin the index.
- Market tone for the next session: With the Bihar election results priced in and domestic institutional buying strong, the market’s undertone remains positive. However, weak global cues (uncertain Fed policy and tepid Chinese data) may cap upside. Expect a range‑bound to slightly positive start in the next trading session (Monday, 17 Nov 2025) with stock‑specific action around earnings. Traders should monitor 25,750 on Nifty and 58,200 on Bank Nifty for support, and be ready for profit‑taking near 26,000/58,700 resistances.
