On Monday, November 3, equity benchmark indices — Sensex and Nifty 50 — are likely to start the session on a muted note amid mixed global signals.
As of 7:13 AM, the GIFT Nifty was down 40 points at 25,878, suggesting a lower opening for the Nifty 50.
With no major domestic or global events lined up, market sentiment may largely hinge on corporate earnings and trade-related updates.
Meanwhile, Asian markets traded lower in early deals on Tuesday, whereas US indices ended mixed overnight, supported by gains in technology stocks that helped the Nasdaq and S&P 500 close higher.
State Bank of India, Mahindra and Mahindra, Adani Ports and Special Economic Zone, Adani Enterprises, Interglobe Aviation, Indian Hotels Company, One 97 Communications Paytm, Suzlon Energy, Berger Paints India, Kaynes Technology India, Escorts Kubota, KPR Mill and Garden Reach Shipbuilders & Engineers will announce their Q2 earnings on November 4.
On Monday, November 3, Foreign Institutional Investors (FIIs) were net sellers, selling equities worth ₹1,883.78 crore. Domestic Institutional Investors (DIIs) continued their positive stance, buying equities worth ₹3,516.36 crore, marking their 8th consecutive session of net inflows.
On Monday, November 3, Indian equity benchmarks ended higher, breaking a two-day losing streak as investors reacted positively to quarterly earnings. The Nifty 50 rose 41.25 points, or 0.16%, to 25,763, while the Sensex gained 39.78 points, or 0.05%, to close at 83,978.49. Both indices remain around 2% below their record highs, while India VIX climbed over 4%.
Sectorally, 9 of 11 indices advanced, led by a 1.92% surge in the Nifty PSU Bank index, which extended last week’s 4.7% rally amid reports of a potential increase in foreign investment limits. Broader markets also outperformed, with both Nifty Midcap and Smallcap indices closing in positive territory.
On Monday, U.S. stock markets ended on a mixed note as technology shares lifted the S&P 500 and Nasdaq, while the Dow Jones slipped.
The Dow fell 226.19 points, or 0.48%, to close at 47,336.68. In contrast, the S&P 500 added 11.77 points, or 0.17%, to finish at 6,851.97, and the Nasdaq advanced 109.77 points, or 0.46%, to settle at 23,834.72.
US manufacturing contracted for an eighth straight month in October. The ISM said its manufacturing PMI fell to 48.7 last month from 49.1 in September. The PMI remained above 42.3, a level that the ISM said over time was consistent with an expansion of the overall economy.
Japan’s manufacturing sector contracted in October at its fastest rate in 19 months. The S&P Global Japan Manufacturing PMI dropped to 48.2 from 48.5 in September, falling short of the preliminary estimate of 49.3 and marking its lowest level since March 2024.
Meanwhile, the US dollar held firm near a three-month high. The dollar index edged up 0.1% to 99.99.
Gold prices remained steady, hovering just below $4,000 an ounce as investors assessed recent comments from Federal Reserve officials for signals on future interest rate moves. Spot gold was last seen at $3,996.32 per ounce.
Disclaimer: The article is for informational purposes only and not investment advice.
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