Overview
- Benchmark indices snapped a two-day decline to finish little changed on Monday, with the Nifty up 41 points at 25,763 and the Sensex higher by 40 points at 83,978.
- PSU banks and the Bank Nifty led gains, while early selling in IT and select private lenders capped advances; Maruti Suzuki fell more than 3% even as broader October auto wholesales stayed firm across major OEMs.
- Domestic institutions continued to support equities as net buyers, contrasting with foreign selling on Friday, which reinforced a consolidation phase after October’s strong rally.
- Strategists see the Nifty trading in a near-term band around 25,500–26,100, with key support flagged near 25,600 and resistance near 26,100 as traders await a decisive breakout.
- Global cues stayed mixed after the US Fed’s 25 bps cut and Chair Jerome Powell’s signal that another move is not assured, while a heavy November primary market pipeline of roughly Rs 70,000 crore and ongoing trade discussions remain important catalysts.