Overview
- Indian equities opened sharply lower on November 7, with the Sensex down roughly 450–630 points and the Nifty trading near 25,350–25,380 for a third straight down session.
- Provisional data showed Foreign Institutional Investors sold about Rs 3,263 crore on Thursday, while Domestic Institutional Investors bought roughly Rs 5,283 crore, yet FII short positions kept markets under pressure.
- Overnight weakness in U.S. tech and AI names spread to Asia, with declines in stocks such as Nvidia and Microsoft and steep drops in Japan’s Nikkei and South Korea’s Kospi weighing on sentiment.
- Technical analysts flagged deteriorating charts, noting Nifty’s slide toward a demand band at 25,500–25,300 and key markers near the 50‑day simple moving average around 25,200.
- A large block deal in Bharti Airtel, with Singtel’s unit Pastel set to sell about 0.8% at a Rs 2,030 floor price (~Rs 10,300 crore), added to stock‑specific weakness as Airtel fell around 3–4%.