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The market opened flat with Sensex at 84,000.64 against its previous close of 83,978.49, while Nifty opened at 25,744.75 compared to 25,763.35. However, sustained selling pressure through the day dragged both benchmarks to close near their intraday lows.
“Indian equity markets ended lower, tracking weak global cues and broad-based selling, particularly across IT, metal, and power sectors. FIIs extended their selling streak for the fourth consecutive session, as rising US bond yields and waning expectations of a near-term Fed rate cut curtailed risk appetite,” said Vinod Nair, Head of Research, Geojit Investments Limited.
Sectoral weakness deepens
All major sectoral indices ended in the red. Nifty Metal and IT led the decline, shedding nearly 1.5 per cent, while defence and capital market indices also dropped around 1.5 per cent. Nifty Bank declined 274.40 points or 0.47 per cent to 57,827.05, Nifty Financial Services dropped 110.35 points or 0.40 per cent to 27,195.80, and Nifty Next 50 fell 314.50 points or 0.45 per cent to 70,168.80. Nifty Midcap 100 fell 250.20 points or 0.42 per cent to 60,037.20.
Among the Nifty 50 constituents, Titan emerged as the top gainer, surging 2.30 per cent to close at ₹3,810.00, followed by Bharti Airtel, which rose 1.74 per cent to ₹2,110.00. Bajaj Finance gained 1.11 per cent to ₹1,054.70, Mahindra & Mahindra added 1.00 per cent to ₹3,584.30, and HDFC Life climbed 0.92 per cent to ₹742.80.
On the losing side, Power Grid Corporation led the decline, plunging 3.19 per cent to ₹278.80, followed by Eternal, which dropped 2.82 per cent to ₹313.50. Adani Enterprises fell 2.72 per cent to ₹2,399.90, Tata Motors Passenger Vehicles declined 2.40 per cent to ₹407.00, and Hindalco slipped 1.93 per cent to ₹830.85.
Market breadth remained weak, with 2,549 stocks declining, 1,618 advancing, and 162 unchanged on the BSE. A total of 4,329 stocks were traded, with 145 hitting 52-week highs and 91 touching 52-week lows.
Technical indicators bearish
“The Nifty continued its lower highs and lower lows formation, slipping below the 25,600 mark. Momentum indicators and oscillators have given a sell crossover on the daily chart, indicating that short-term weakness is likely to persist. Immediate support is placed at the 21-DMA near 25,570, followed by psychological support at 25,500 levels,” said Nilesh Jain, Head of Technical and Derivatives Research at Centrum Broking Ltd.
Shrikant Chouhan, Head Equity Research at Kotak Securities, noted, “Technically, on intraday charts, the market is holding a lower top formation, and on daily charts, it has formed a bearish candle, which indicates further weakness from the current levels. As long as the market is trading below 25,700/83,750, weak sentiment is likely to continue.”
Rupee and gold slide
The rupee witnessed volatility during the session. “Rupee started the session on a strong note, opening near 88.40 with gains of about 0.30 rupees, likely supported by intervention. However, the initial optimism faded with the rupee losing ground to close near 88.63 amid renewed selling pressure,” said Jateen Trivedi, VP Research Analyst at LKP Securities. He added that the expected trading range for the rupee is 88.25-88.90.
In commodities, gold prices declined by ₹500 to ₹1,20,950 per 10 grams on the back of a firm dollar and uncertainty over the US Fed’s future rate cuts. “Gold is expected to remain volatile within the range of ₹1,18,500–₹1,24,000,” Trivedi noted.
Volatility to persist
Looking ahead, volatility is expected to persist as global developments and institutional flows continue to drive market direction. With key domestic earnings announcements due and a shorter trading window because of the Guru Nanak Jayanti holiday, market liquidity could remain uneven, leading to sharp intraday moves. Traders are advised to maintain a strong focus on risk management until a clear directional trend emerges.
Published on November 4, 2025
