Overview
- Indian equities started weaker on Nov. 3, with the Sensex opening near 83,788 and the Nifty around 25,663 as IT and private lenders faced early selling.
- Analysts flag a range-bound setup for the Nifty near 25,500–26,100, with a potential slide toward 25,300 if 25,700 gives way.
- Domestic institutions stayed net buyers while foreign investors sold shares, a recurring flow pattern that has tempered downside moves.
- Near-term drivers include Q2 results from index heavyweights and final PMI readings, alongside a busy IPO slate featuring Groww and Pine Labs and global policy cues after the Fed’s 25 bps cut.
- The pullback follows last week’s pause that ended a four-week winning streak, with the Nifty closing at 25,722 and the Sensex at 83,938 as PSU banks, Oil & Gas and Metals outperformed.