Did Sensex and Nifty Break Their Three-Day Losing Streak?
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Synopsis
On November 10, the Indian equity markets made a remarkable recovery, breaking a three-day losing streak fueled by strong buying in key sectors. The optimism surrounding the US government shutdown resolution contributed to this surge, marking a pivotal moment for investors.
Key Takeaways
- Sensex ended at 83,535.35, up 319 points.
- Nifty closed at 25,574.35, gaining 82 points.
- Renewed buying in IT and auto sectors fueled market optimism.
- Rupee remained steady, trading around 88.66.
- Investors are anticipating CPI data releases from the U.S. and India.
Mumbai, Nov 10 (NationPress) The domestic equity markets experienced a positive turn on Monday, ending a three-day decline due to robust buying in IT, automobile, and select banking stocks. This rebound was bolstered by optimism regarding a potential resolution of the U.S. government shutdown.
The Sensex concluded the day at 83,535.35, marking an increase of 319 points or 0.38 percent. The 30-share index opened at a steady level of 83,198.20, slightly lower than the previous close of 83,216.28. However, it surged by nearly 500 points, reaching an intra-day peak of 83,754.49, driven by strong purchases in key technology and automobile stocks.
The Nifty index settled at 25,574.35, rising by 82 points or 0.32 percent.
According to Vinod Nair, Head of Research at Geojit Investments Limited, "The likely resolution of the U.S. government shutdown, combined with renewed foreign institutional investor (FII) buying due to a favorable Q2 earnings season, has fostered positive market sentiment. The uptrend in the U.S. 10-year Treasury yield indicates a growing appetite for equities in light of the impending reopening of the federal government."
Domestically, improving macroeconomic indicators are anticipated to elevate earnings projections for the latter half of FY26, he further remarked.
Prominent gainers in the Sensex included Infosys, HCL Tech, Asian Paint, Tata Motors Passenger Vehicle, TCS, Bharti Airtel, Titan, L&T, Tech Mahindra, and Maruti Suzuki. In contrast, stocks like Trent, Eternal, PowerGrid, Ultratech Cement, Mahindra and Mahindra, and Axis Bank closed in the red.
Most sectoral indices finished in positive territory, spurred by value buying. The Nifty IT index rose by 570 points or 1.62 percent, Nifty Auto climbed by 80 points or 0.30 percent, Nifty Fin Services advanced by 66 points or 0.24 percent, and the Nifty Bank index increased by 60 points or 0.10 percent. However, Nifty FMCG ended lower.
The broader indices mirrored this trend, with the Nifty Midcap 100 climbing 281 points or 0.47 percent, the Nifty Small Cap 100 increasing by 62 points or 0.35 percent, and the Nifty 100 rising by 86 points or 0.33 percent.
The rupee remained steady around 88.66, as the dollar index's decline was countered by ongoing FII selling, leading to a subdued trading session for the currency.
Jateen Trivedi from LKP Securities noted, "The RBI’s probable intervention around the 88.75–88.90 range has limited further declines, keeping the rupee within a narrow trading band. Investors are now looking forward to vital CPI data releases from both the U.S. and India this week, which are likely to influence short-term market directions. The rupee is expected to stay within a small yet volatile range, projected between 88.45 and 88.90."
Point of View
The recent recovery of the domestic equity indices is a positive sign for investors and reflects resilience in the market. The optimism surrounding international developments, especially in the US, combined with strong domestic performance, indicates a robust outlook for the economy. However, market participants should remain cautious as volatility may persist.
NationPress
10/11/2025
Frequently Asked Questions
What led to the rise in Sensex and Nifty?
The rise in Sensex and Nifty was primarily due to strong buying in IT, automobile, and selected banking stocks, along with optimism regarding the potential resolution of the US government shutdown.
What are the major gainers in Sensex?
Major gainers in Sensex included Infosys, HCL Tech, Asian Paint, Tata Motors Passenger Vehicle, TCS, Bharti Airtel, Titan, L&T, Tech Mahindra, and Maruti Suzuki.
How did the rupee perform during this trading session?
The rupee traded flat near 88.66, as the weakness in the dollar index was balanced by ongoing FII selling.
What is the market outlook for the upcoming week?
The market outlook remains cautiously optimistic, as investors await key CPI data releases from both the US and India, which are expected to influence market direction.
Which sectors showed the most growth?
The Nifty IT and Nifty Auto sectors showed significant growth, with Nifty IT rising by 1.62 percent and Nifty Auto increasing by 0.30 percent.
