Benchmark indices experienced a notable recovery from their intraday lows on Friday, with the Nifty 50 reclaiming over 200 points as bargain hunters and short-covering contributed to a late-session turnaround. The Nifty closed at 25,492.30, down just 17.40 points or 0.07 percent, while the Sensex concluded at 83,216.28, a decrease of 94.73 points or 0.11 percent, having opened lower at 83,150.15.
This recovery was prompted by the Nifty finding support near its 50-day exponential moving average around the 25,300 mark, which ignited renewed buying interest in financials, metals, and banking stocks. The market breadth was evenly distributed, with 2,069 stocks advancing compared to 2,105 declining on the BSE, where a total of 4,315 stocks were traded. Of note, 132 stocks reached 52-week highs, while 209 touched 52-week lows, indicating underlying market volatility.
Financial stocks spearheaded the gains, with Shriram Finance topping the Nifty gainers list, surging 3.81 percent to ₹817.70. Bajaj Finance and Bajaj Finserv followed, rising 2.66 percent to ₹1,069.60 and 2.27 percent to ₹2,110.00, respectively. Adani Enterprises climbed 2.61 percent to ₹2,374.80, while Tata Steel increased 2.39 percent to ₹181.50, significantly bolstering the metal sector, which advanced 1.4 percent.
Conversely, Bharti Airtel saw the largest decline, falling 4.46 percent to ₹2,001.50 amid a downturn in the telecom sector. Other notable losers included Tata Consumer Products, which dipped 1.97 percent to ₹1,167.00, Tech Mahindra down 1.87 percent to ₹1,387.20, Apollo Hospitals decreasing 1.80 percent to ₹7,642.00, and IndiGo dropping 1.55 percent to ₹5,604.50.
Sectoral performance was mixed; Nifty Financial Services rose by 0.76 percent, and Nifty Bank saw a gain of 0.56 percent, closing at 57,876.80. The banking index demonstrated resilience, bouncing back from its 20-day EMA around 57,300. “Bank Nifty exhibited relative strength throughout the session, ending firmly at 57,878, maintaining its structure within a rising parallel channel,” noted Ponmudi R, CEO of Enrich Money.
The broader Nifty Midcap 100 outperformed, gaining 0.63 percent to 59,843.15, whereas the IT and FMCG sectors lagged, each suffering losses of approximately 0.5 percent.
“Domestic equities rebounded from earlier losses as buying emerged at key support levels, though it may be premature to declare a trend reversal in light of mixed earnings, cautious global cues, and ongoing FII outflows,” stated Vinod Nair, Head of Research at Geojit Investments Limited. This recovery was also buoyed by speculation regarding an increase in the FDI cap in PSU banks, which saw a rally of 0.9 percent on the day.
Technical analysts commented on the importance of the day’s market movements. “The Nifty index quickly recovered from intraday lows, filling the morning gap, yet was unable to maintain momentum at higher levels,” remarked Sudeep Shah, Head of Technical Research at SBI Securities. He added that on the daily chart, the Nifty formed a high-wave candle with long wicks on both ends, indicating increased intraday volatility.
Market sentiment reflected external pressures, according to Abhinav Tiwari, Research Analyst at Bonanza. “The flat closing was a result of mixed investor sentiment amid continued selling by FIIs, compounded by cautious DII support that limited the downside. Weak global cues, particularly from the declining technology and AI sectors in US markets, also contributed to subdued trading activity,” he noted.
The rupee exhibited volatility during the week, fluctuating between 88.40 and 88.75, as Jateen Trivedi, VP Research Analyst at LKP Securities, indicated that it experienced selling pressure from FIIs. For the upcoming week, he expects the rupee to remain volatile within the range of 88.25 to 88.90. Gold prices stabilized near ₹1,21,111 per 10 grams, supported by a weak dollar hovering around the 100 mark. Trivedi predicted that gold would remain range-bound, fluctuating between ₹1,18,500 and ₹1,24,000.
Furthermore, positive developments on the trade front boosted market sentiment. “Market sentiments improved following US President indications that trade discussions with India were progressing satisfactorily,” commented Siddhartha Khemka, Head of Research at Motilal Oswal Financial Services. The primary market also experienced robust investor interest, as Billionbrains Garage Ventures’ ₹6,600 crore IPO was oversubscribed more than 15 times. Additional relief came from SEBI’s assurance that weekly options expiry would not be abruptly halted, thereby supporting capital market stocks.
Looking forward, analysts anticipate continued volatility, paying close attention to key support and resistance levels. “The 25,600–25,620 range will serve as critical resistance, and a sustained move above this zone could rekindle upward momentum,” asserted Shah. Ajit Mishra of Religare Broking maintained a cautious outlook, noting, “Stability above the 25,600 level may help rebuild trader confidence and potentially pave the way toward the 25,800–26,000 range. On the downside, the 25,300 mark will continue to act as essential support.”
Next week, market participants will monitor developments regarding a potential US government shutdown, tariff-related news, and updates on trade talks between the US and India as well as between the US and China, alongside domestic corporate earnings and the RBI’s policy stance, to assess the sustainability of the current upward momentum.
Published on November 7, 2025.
