Benchmark indices closed marginally higher on Monday after recovering from intraday lows, with the Sensex ending at 83,978.49, up 39.78 points or 0.05 per cent, after falling as much as 329 points during the session. The Nifty 50 settled at 25,763.35, gaining 41.25 points or 0.16 per cent, as buying in banking and financial counters helped offset selling pressure in IT and FMCG stocks.
The recovery was led by a remarkable rally in PSU banks, with the PSU Bank Index hitting a fresh lifetime high for the second consecutive session. “PSU banks rose on the back of stronger than expected quarterly earnings, healthier asset quality, and improved credit growth prospects, which helped restore investor confidence in the sector,” said Abhinav Tiwari, Research Analyst at Bonanza. Recent government measures to boost infrastructure spending and credit availability further enhanced the outlook for public sector lenders.
Among individual stocks, Shriram Finance emerged as the top gainer on the Nifty 50, surging 6.18 per cent to close at ₹795.15, followed by Tata Consumer Products, which gained 2.62 per cent to ₹1,195.50. Apollo Hospitals added 2.00 per cent to ₹7,835, while Mahindra & Mahindra rose 1.89 per cent to ₹3,553.20. TMT Platform Services climbed 1.80 per cent to ₹417.40.
On the downside, Maruti Suzuki was the biggest loser, declining 3.41 per cent to ₹15,634, followed by ITC, which fell 1.51 per cent to ₹414. Tata Consultancy Services dropped 1.26 per cent to ₹3,019.50, while Larsen & Toubro shed 1.24 per cent to ₹3,980.90. JSW Steel declined 0.92 per cent to ₹1,194.90.
Broader markets outperformed their benchmark peers, with the Nifty Midcap 100 gaining 0.77 per cent to close at 60,287.40 and the Nifty Next 50 rising 0.94 per cent to 70,483.30. The Nifty Bank advanced 0.56 per cent to 58,101.45, while the Nifty Financial Services index added 0.62 per cent to 27,306.15.
Market breadth remained strong with 2,174 stocks advancing against 2,080 declines on the BSE, where 4,461 stocks were traded. As many as 178 stocks touched their 52-week highs, while 85 hit their 52-week lows. Eight stocks closed in the lower circuit, while no stocks hit the upper circuit.
Sectoral trends were mixed, with Nifty Realty emerging as the top performer, rallying 2.40 per cent, followed by PSU Bank and Pharma indices, which gained 1-2 per cent. “Domestic equity markets ended higher as investor sentiment improved following a private survey that signaled strong growth momentum in India’s manufacturing sector for October,” said Ponmudi R, CEO of Enrich Money.
In contrast, IT stocks faced selling pressure. “IT stocks declined amid fading expectations of a US Fed rate cut, while a trade truce between the US and China eased the demand for safe haven assets,” noted Vinod Nair, Head of Research at Geojit Investments. FMCG and consumer durable indices closed lower by 0.1-0.3 per cent.
Gold prices began November on a positive note, gaining as much as ₹800 to reach ₹1,22,150 per 10 grams on the MCX, supported by a weaker rupee. “With the ongoing US government shutdown limiting key economic data releases, focus this week will remain on Manufacturing and Non-Manufacturing PMI readings,” said Jateen Trivedi, VP Research Analyst at LKP Securities, adding that gold prices are expected to remain volatile within a range of ₹1,18,000-₹1,24,000.
Looking ahead, Sudeep Shah, Head – Technical and Derivatives Research at SBI Securities, said: “The zone of 25,640–25,610, representing the recent breakout area and aligning with the 20-day EMA, is expected to act as a crucial support for the index, followed by 25,540. On the upside, 25,940–25,960 remains the key resistance band. A sustained move above 25,960 could propel the index toward 26,040, and subsequently to 26,200 in the near term.”
Published on November 3, 2025
