Overview
- Benchmarks ended last week slightly lower at 25,722 for Nifty and 83,939 for Sensex and opened weaker on Nov. 3, with the Nifty near 25,660 and the Sensex around 83,788.
- Technicals point to short-term consolidation, with Nifty support in the 25,500–25,300 zone and resistance near 26,100–26,150, while Bank Nifty is seen consolidating between roughly 57,500 and 58,500.
- The US Federal Reserve cut rates by 25 bps to 3.75%–4.00% as Chair Jerome Powell signaled a December move is not assured, tempering risk appetite.
- Flows diverged late last week with FIIs selling about ₹6,769 crore on Oct. 31 as DIIs bought roughly ₹7,068 crore; broader indices have shown relative strength and PSU banks, Oil & Gas and Metals led sector gains as Autos, Pharma and Private Banks saw profit-taking.
- A packed calendar features Q2 results from heavyweights including SBI, Bharti Airtel, Titan, Adani group companies, Mahindra & Mahindra, IndiGo and Hindalco, plus multiple IPOs, while stock-specific drivers include BPCL’s ₹6,442 crore profit and new defence and metro orders for Zen Technologies and Titagarh Rail.