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Stock Market Live Updates | Gift Nifty Indicates Flat Market Opening

Synopsis:


Today’s share market’s key developments include: Cipla to fully acquire Inzpera Healthsciences for Rs 110.65 crore, Lemon Tree opens new hotel in Dehradun, Zee Media names Raktimanu Das as CEO, Zydus plans Rs 5,000 crore fundraise; FIIs sell Rs 1,883.78 crore, DIIs buy Rs 3,516.36 crore.


 10:00 AM IST

Stock Market LIVE Update | Sensex declines over 150 points | Nifty slips below 25,700

The Sensex declined by more than 150 points while the Nifty slipped below the 25,700 mark amid mixed market cues. Bharti Hexacom shares gained nearly 3% following a robust Q2 performance, as the company reported a 66.4% year-on-year increase in net profit to Rs 421 crore. Trading volumes stood at 262.08K, with the stock priced at Rs 1,876. Broader market sentiment remained cautious, reflecting profit booking and sectoral volatility during early trade on Monday.


 9:20 AM IST

Stock Market LIVE Update | Sensex dips over 100 points | Nifty hovers near 25,750

The Sensex declined by over 100 points while the Nifty tested the 25,750 level in today’s trade. Bharti Airtel shares gained more than 2% after reporting an 89% year-on-year rise in Q2FY26 profit. RBI data indicates deposit rates may have reached their lowest point as liquidity tightens and credit growth accelerates. Meanwhile, Groww plans to raise ₹6,634 crore through its IPO to strengthen subsidiaries and invest in infrastructure, while Fitch revised Adani Ports and Adani Energy’s outlooks to stable.

Source: Bajaj Broking Research Desk. 

GIFT NIFTY: Gift Nifty suggests a flat opening for the Indian market. Nifty spot in todays session is likely to consoliate in the range of 25,600-25,900.

INDIA VIX: 12.66 | +0.51 (4.22%) ↑ today

In-Depth Market Insights: Global Outlook, Derivatives & More

Other Asset Classes

  1. Treasury Yield:

    • The 10-year Treasury yield was relatively unchanged on Monday. It rose less than 1 basis point to 4.107%.

  2. Currency:

    • The dollar rose to a three-month high against the euro on Monday, extending its gains from last week on doubts about the outlook for another Fed rate cut this year. The dollar index is currently placed around 99.8 levels.

  3. Commodities:

    • Spot gold was up 0.01% at $4,002.19 an ounce.

    • Brent crude futures rose 0.19%, to close at $64.89 a barrel.

Asian Markets

  1. General Trends:

    • Asia Pacific markets mostly fell on Tuesday morning trade breaking ranks from Wall Street’s tech-fuelled rally.

  2. Sector-Specific Indicator:

    • Japan’s Nikkei 225 was 0.39% lower, and the Topix declined 0.23%. South Korea’s Kospi fell 0.32% while the small-cap Kosdaq climbed 0.24%.

India Market Outlook

  1. Market in the Previous Session:

    • Benchmark indices ended slightly higher in a quiet, range-bound session on November 3rd, as large-cap stocks lagged while the midcap index touched a new 52-week high. Investors remained watchful of festive auto sales, major earnings from Nifty heavyweights, and FII movements. Globally, risk sentiment stayed muted due to the Fed’s hawkish stance and ongoing trade uncertainties, though steady domestic inflows lent support to the markets.

    • Going forward, market direction is expected to be driven by corporate earnings and updates on global trade negotiations, given the lack of major fresh triggers.

    • 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 midcap index gained 0.77 percent, while the small-cap index advanced 0.72 percent at the close.

    • On the sectoral front, buying interest was seen in pharma, telecom, realty, and PSU bank stocks, with their respective indices advancing between 1% and 2%, driven by selective accumulation and positive momentum across these pockets.

TRADE SETUP FOR NOV 04

  1. Nifty Short-Term Outlook:

    • The index formed a small bull candle highlighting buying demand at lower levels near previous major high after last two sessions of corrective decline. 

    • The market overall remains in a firm up trend. The ongoing phase of consolidation in the last 8 sessions is best interpreted as a healthy retracement and time correction following a sharp 1,500-point up move in four weeks. We believe the current breather should be used to accumulate quality stocks in a staggered manner.

    • We expect the index to maintain positive bias and head towards last two weeks high of 26,100 and then towards the all-time high of 26,277 in the coming sessions. Strong support is seen around 25,500–25,300, which is likely to hold as it is the confluence of the recent breakout zone, key retracement of previous up move and 50 days EMA.

  2. Intraday Levels:

    • Nifty: Intraday resistance is at 25,830, followed by 25,900 levels. Conversely, downside support is located at 25,670, followed by 25,600.

    • Bank Nifty: Intraday resistance is positioned at 58,330, followed by 58,577, while downside support is found at 57,880, followed by 57,670.

Derivative Market Analysis

  1. Nifty:

    • Major Call OI is concentrated at the 26,000 strike, followed by 25,900, which will act as resistance.

    • On the other hand, Put writing participation is observed at the 25,700 strike, which will act as support.

    • A breakout above 26,000 or a breakdown below 25,700 will likely trigger a directional move.

    • The Max Pain level for the weekly expiry stands at 25,800.

    • The Nifty Put-Call Ratio improved by 0.13 to stand at 0.77.

  2. Bank Nifty:

    • Major Put writing is noted at the 58,000 strike, which will serve as strong and immediate support.

    • On the other hand, Call writers are active at the 58,500 strike; a sustained move above this level may trigger further upside.

    • Notably, Call writers remain active at the 57,000 and 58,000 strikes, indicating that unwinding from these levels could lead to short-covering rallies. However, in the absence of such unwinding, a mild pullback cannot be ruled out.

    • The immediate range is between 58,000 and 58,500. Until a breakout occurs, consolidation is likely to continue.

    • The Bank Nifty Put-Call Ratio improved by 0.07 to stand at 0.98.

US Share Market News

  1. Performance Overview:

    • The S&P 500 climbed on Monday as artificial intelligence stocks, led by Nvidia continued to rack up gains amid recent signs that spending on AI is far from over.

  2. Sector-specific indicator: 

    • The S&P 500 and NASDAQ Composite ended 0.2% and 0.5% higher, respectively, helped by strength in megacap technology stocks and optimism over AI-driven growth prospects. The Dow Jones Industrial Average, however, slipped 0.5% as investors booked profits after last week’s rally.

    • The up move was seen in Amazon shares rising 4% on a $38 billion deal with OpenAI. Nvidia also gained about 2% after it secured export licenses to ship its chips to the United Arab Emirates.

    • More than 300 of S&P 500 companies have posted third-quarter results thus far, and of those, over 80% have beaten expectations, according to data from FactSet.

  3. Economic indicator: 

    • Investors are likely to turn to the ISM manufacturing release for November, which contains the employment component, due later in the session, for clues, as well as Wednesday’s ADP jobs release. 

Stay on top of the latest market news with Bajaj Broking’s insights. Our point-to-point expert analysis digs deep into the surface, empowering you with a unique perspective on domestic and global stock market events. Get all the current share market news, including US share market updates and the trade set up for today, in one place to make wise investment decisions.

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