Sensex, Nifty 50 snap 3-day losing run; small-caps underperform— 10 key highlights from the Indian stock market today

Frontline indices, the Sensex and the Nifty 50, snapped their three-day losing streak on Monday, November 10, on gains led by select heavyweights, including Infosys and Reliance Industries, amid positive global cues.

The Sensex closed 319 points, or 0.38 per cent, higher at 83,535.35, while the Nifty 50 settled at 25,574.35, up 82 points, or 0.32 per cent. The BSE Midcap index outperformed, rising 0.62 per cent, while the Smallcap index underperformed, falling 0.28 per cent.

Investors earned about ₹2 lakh crore in a single session as the cumulative market capitalisation of BSE-listed firms rose to ₹468 lakh crore from ₹466 lakh crore in the previous session.

Indian stock market: 10 key highlights from the day

1. What drove the Sensex, Nifty 50 higher today?

Market benchmarks ended with decent gains on buying in select heavyweights, tracking positive global cues.

Among Asian peers, Korea's Kospi, Japan's Nikkei, and Hong Kong's Hang Seng jumped up to 3 per cent. Among European markets, the UK's FTSE, France's CAC 40, and Germany's DAX jumped up to 2 per cent during the session.

Markets globally are rising on expectations that the US government shutdown is nearing its end and the US Federal Reserve may announce another rate cut in December.

Apart from positive global cues, domestic market sentiment is improving on hopes of earnings recovery from the third quarter onwards. Foreign institutional investors (FIIs) also appear to have begun buying Indian stocks due to valuation comfort in large caps and a favourable macro outlook.

Global brokerage Goldman Sachs reversed its October 2024 downgrade, as it raised its rating for the Indian stock market to "overweight" from "neutral", citing strengthening earnings momentum and policy tailwinds supporting growth.

Meanwhile, according to a Mint poll of 16 economists, India’s retail inflation likely hit a record low of 0.3 per cent in October. Retail inflation data is scheduled to be released on Wednesday, November 12.

"The potential resolution of the US government shutdown, coupled with renewed FIIs buying driven by a favourable Q2 earnings season, supported a positive sentiment in the market," Vinod Nair, Head of Research, Geojit Investments, noted.

"The rise in the US 10-year Treasury yield reflects improving risk sentiment toward equities with the reopening of the federal government. Domestically, strengthening macroeconomic indicators are expected to underpin upward revisions in earnings estimates for H2FY26. This reinforces the current valuations and is likely to attract incremental liquidity," Nair added.

2. Top gainers in the Nifty 50 index today

As many as 32 stocks ended higher, out of which Infosys (up 2.59 per cent), Bajaj Finance (up 1.88 per cent), and HCL Technologies (up 1.82 per cent) ended as the top gainers in the Nifty 50 index.

3. Top losers in the Nifty 50 index

Shares of Trent (down 7.42 per cent), Max Healthcare Institute (down 3.13 per cent), and Tata Consumer Products (down 2.23 per cent) ended as the top losers in the index.

4. Sectoral indices today

Nifty IT (up 1.62 per cent), Pharma (up 0.95 per cent), and Metal (up 0.55 per cent) ended with healthy gains.

Nifty Bank rose 0.10 per cent, while the Financial Services index climbed 0.24 per cent.

On the other hand, Nifty Media (down 1.04 per cent), Realty (down 0.24 per cent), FMCG (down 0.19 per cent), and PSU Bank (down 0.14 per cent) ended in the red.

5. Most active stocks in terms of volume

Vodafone Idea (53.62 crore shares), Lenskart (13.16 crore shares), and Reliance Power (10.77 crore shares) were the most active stocks in terms of volume on the NSE.

6. Over 10 stocks jump more than 15% on BSE

Lumax Auto Technologies, Bliss GVS Pharma, and Gallantt Ispat were among the 11 stocks that jumped over 15 per cent on the BSE.

7. Advance-decline ratio

Out of 4,513 stocks traded on the BSE, 1,962 advanced, while 2,372 declined. Some 179 stocks remained unchanged.

8. 193 stocks hit 52-week highs

Shriram Finance, SBI Life Insurance Company, Indian Oil Corporation, Canara Bank, and AU Small Finance Bank were among 193 stocks that hit their 52-week highs in intraday trade on the BSE.

9. Nearly 200 stocks hit 52-week lows

As many as 199 stocks, including Trent, Westlife Foodworld, Tejas Networks, Godrej Agrovet, Deepak Nitrite, and Clean Science and Technology, hit their 52-week lows in intraday trade on the BSE.

10. Nifty's technical outlook

According to Sudeep Shah, the head of technical and derivatives research at SBI Securities, the zone of 25,660-25,700 will be the crucial hurdle for the Nifty 50.

"A sustained move above the 25,700 mark could trigger a sharp upside rally, potentially extending towards the 25,850 level. On the downside, immediate support is seen in the 25,480–25,450 range. Any weakness below this support zone may invite further correction," said Shah.

Rupak De, Senior Technical Analyst at LKP Securities, pointed out that the Nifty 50 traded within a narrow range of 25,500–25,650 during the session. On the higher side, it encountered resistance near the 50 EMA, while failing to sustain above the 21 EMA on a closing basis — a signal that a weakness may persist over the next one to two sessions.

"From a broader perspective, the index has taken support along the upper band of the falling channel on the daily timeframe, suggesting that the broader structure remains intact. However, a decisive move above 25,600 will be crucial to confirm the resumption of a directional upmove. Until then, the index is likely to continue its sideways consolidation phase," said De.

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Disclaimer: This story is for educational purposes only. The views and recommendations expressed are those of individual analysts or broking firms, not Mint. We advise investors to consult with certified experts before making any investment decisions, as market conditions can change rapidly and circumstances may vary.