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Asian Paints emerged as the top gainer on the Nifty 50, surging 5.53 per cent to ₹2,624.30 from its previous close of ₹2,486.70. Reliance Industries climbed 1.79 per cent to ₹1,499.40, while IndiGo gained 1.77 per cent to ₹5,737. Mahindra & Mahindra rose 1.70 per cent to ₹3,642, and Adani Ports advanced 1.36 per cent to ₹1,464.10.
On the losing side, Hindalco led the decliners with a sharp drop of 6.15 per cent to ₹780.30 from ₹831.40. Grasim Industries fell 4.37 per cent to ₹2,756.10, while Power Grid Corporation declined 2.38 per cent to ₹272.40. Adani Enterprises slipped 1.41 per cent to ₹2,385.70, and Max Healthcare shed 1.19 per cent to ₹1,124.80.
“The Nifty 50 opened on a steady note near 25,615 after two sessions of range-bound movement, managing to hold just above its key support at 25,575,” said Ponmudi R, CEO of Enrich Money. “The broader mood remains cautious, with investors treading carefully amid mixed global cues, persistent FII outflows, and a packed earnings calendar that continues to guide near-term sentiment.”
Institutional flows remained a concern, with FIIs offloading equities worth ₹1,883 crore on November 4, marking their fourth consecutive session of selling. However, Domestic Institutional Investors (DIIs) provided support by purchasing equities worth over ₹3,500 crore for the eighth straight session.
“For the near-term, the resumption of sustained selling by FIIs (₹15,336 crores in the last five days) and increasing FII short positions will weigh on markets,” said Dr VK Vijayakumar, Chief Investment Strategist at Geojit Investments Limited. “In the coming days the focus of the market will be the developments in the US Supreme Court which is hearing the petition against Trump tariffs.”
Prashanth Tapse, Senior VP (Research) at Mehta Equities Ltd, noted that Thursday’s trade could see a rebound with optimism surrounding ongoing India-US trade negotiations. “Commerce Minister Piyush Goyal noted that talks on the proposed Bilateral Trade Agreement are progressing, though key issues remain,” he said.
Technical analysts pointed to key resistance and support levels that could determine near-term direction. “The Nifty 50 slipped just below its key support at 25,660—a zone that has consistently seen buying interest in recent sessions,” said Ponmudi R. “For sentiment to turn constructive, the index needs to reclaim and hold above 25,720 on an hourly close, which could trigger short covering and pave the way for a rebound toward 25,850–26,000.”
Amruta Shinde, Technical & Derivative Analyst at Choice Equity Broking Private Limited, advised caution. “Traders are advised to maintain a cautious buy-on-dips strategy, particularly when using leverage,” she said. “Fresh long positions should be considered only if the Nifty sustains above the 26,100 level.”
In commodities, gold found support from safe-haven buying amid political uncertainty in the United States, while crude oil remained under pressure below $60 per barrel due to rising inventories.
Published on November 6, 2025
