Nifty Reclaims 25,550 as Markets Rebound After Three-Day Fall, Led by IT Stocks

Nifty Reclaims 25,550 as Markets Rebound After Three-Day Fall; IT Stocks Lead Recovery

Indian Stock Market Snaps Three-Day Losing Streak as IT Stocks Shine

The Indian stock market started the new week on a strong note, snapping a three-day losing streak on Monday, November 10, as renewed optimism from global markets lifted investor sentiment. Nifty 50 closed above the 25,550 mark, supported by gains in IT, metal, and pharma stocks, even as mid-session profit booking trimmed some intraday momentum.

At the closing bell, the NSE Nifty 50 ended 82 points higher or 0.32% up at 25,574.35, while the BSE Sensex rose 319.07 points or 0.38% to close at 83,535.35. The broader market showed mixed trends — the BSE Midcap index gained 0.6%, while the Smallcap index slipped 0.4%.

In sectoral performance, Nifty IT surged 1.6%, becoming the top gainer of the day, followed by Pharma (up 0.95%) and Metal (up 0.55%) indices. Meanwhile, the Media sector declined 1%, and FMCG and Realty ended marginally lower.

Market Momentum: Nifty Tests Day’s High of 25,653

Despite a flat opening amid mixed global cues, buying in technology and pharma stocks propelled the Nifty to the day’s high of 25,653.45. However, mild profit-taking in the second half erased part of the gains.

Market breadth remained balanced, with 1,787 shares advancing, 2,183 declining, and 132 remaining unchanged on the BSE. The India VIX, a gauge for market volatility, declined 2.05% to settle at 12.30, indicating easing investor anxiety.

The Bank Nifty index, however, struggled to hold its early gains — it opened positive and climbed 0.10% in the morning session but later slipped into red, closing at 57,937.55.

Also Read : Gold Prices Rise to Two-Week High on Fed Rate-Cut Expectations and Slowdown Fears

IT, Metal, and Pharma Stocks Drive Market Gains

The rebound was led primarily by IT stocks, which saw renewed buying after a week of profit-booking. Infosys, HCL Technologies, TCS, and Wipro climbed between 1.8% and 2.6%, helping the Nifty IT index emerge as the session’s strongest performer.

Among individual stocks, Infosys rose 2.59% to ₹1,519.70, HCLTech gained 1.82%, and Bajaj Finance advanced 1.88%. Other top gainers included Coal India (up 1.48%) and Asian Paints (up 1.46%).

On the losing side, Trent fell sharply by 7.42%, followed by Max Healthcare (-3.13%), Tata Consumer (-2.23%), Apollo Hospitals (-1.41%), and Eternal (-1.40%).

Stock-Specific Action: Corporate Earnings Drive Moves

The trading session witnessed high stock-specific volatility amid ongoing Q2 earnings season.

• FSN E-Commerce Ventures (Nykaa) surged 5% after reporting a 243% jump in Q2 consolidated profit.

• Trent slipped 7% despite better-than-expected quarterly results, as valuations appeared stretched.

• Schneider Electric Infrastructure dropped 6% post-Q2 earnings release, while Global Health declined 5% despite improved profit figures.

• Neuland Laboratories hit a 52-week high, gaining over 5%, after its Q2 net profit soared 195% year-on-year.

• Hindustan Aeronautics Ltd (HAL) climbed 3% after signing a key agreement with General Electric (GE) of the USA, while NALCO spiked nearly 10% following strong Q2 earnings.

• Swiggy shares fell 3% amid reports of fresh fundraising plans.

More than 180 stocks hit their 52-week highs on the BSE, including NALCO, BHEL, Torrent Pharma, Laurus Labs, Asian Paints, SBI Life Insurance, Bank of India, and L&T Finance.

Lenskart Lists Flat After Weak Market Debut

In new listings, Lenskart shares made a muted debut, opening at a 3% discount to its IPO price, before recovering to end the session with marginal gains. Analysts attributed the lackluster debut to rich valuations and cautious investor sentiment in the consumer discretionary space.

Global Cues: Optimism Rises on Hopes of U.S. Shutdown Resolution

Global sentiment turned positive after the U.S. Senate advanced a measure to end the 40-day government shutdown, the longest in American history. The procedural vote, which passed 60-40, aims to fund the government through January 30, boosting confidence across world markets.

This development lifted Wall Street futures, with Nasdaq 100 futures rising 1.3%, S&P 500 up 0.8%, and Dow Jones futures gaining 0.9%. Asian markets mirrored this optimism, with Japan’s Nikkei up 1.3%, Hong Kong’s Hang Seng up 1.6%, and South Korea’s Kospi surging 3%.

The positive global momentum helped Indian equities extend gains, supported by foreign inflows. Foreign Institutional Investors (FIIs) turned net buyers for the first time in over a week, purchasing ₹4,581 crore worth of equities on November 7.

Additionally, Goldman Sachs upgraded India’s rating to ‘Overweight’ from ‘Neutral’, citing stable earnings growth, resilient domestic demand, and easing inflation as key factors supporting medium-term bullishness.

Nifty Faces Key Resistance Around 25,600

Technically, analysts say the Nifty’s close at 25,574, slightly below its 20-day EMA (25,587), indicates a near-term consolidation phase. As long as the index holds above 25,300, the uptrend remains intact.

“A sustained move above 25,600 could trigger a rally towards the 25,800–26,000 zone,” said a senior technical analyst at a domestic brokerage. “However, a decisive break below 25,300 might invite profit-taking and drag the index lower to 25,150.”

Market experts recommend a stock-specific approach, advising traders to accumulate quality largecaps on dips and maintain selective short positions as a hedge against volatility.

Sector Snapshot: Broad Gains Across Key Indices

The day’s performance across major sectors highlighted broad-based recovery momentum:

• IT Index: +1.62% — led by Infosys, HCL Tech, and Wipro

• Pharma Index: +0.95% — aided by Cipla and Dr. Reddy’s Labs

• Metal Index: +0.55% — supported by Hindalco and Tata Steel

• Consumer Durables: +0.38%

• Auto: +0.30%

• Media: -1.04% (laggard of the day)

• Realty: -0.24%

• FMCG: -0.19%

Market Breadth and Statistics

• Stocks Traded: 3,233

• Advances: 1,502

• Declines: 1,637

• Unchanged: 94

• 52-Week Highs: 85

• 52-Week Lows: 149

• Volatility (India VIX): 12.30 (-2.05%)

Market May Consolidate Before Fresh Rally

The market’s rebound from a three-day fall reflects improving global sentiment and renewed foreign inflows. However, analysts caution that near-term volatility cannot be ruled out as investors await key macro data releases — India’s CPI on November 12, M3 money supply, and WPI inflation on November 14.

In the coming sessions, the focus will likely remain on large-cap stocks from IT, banking, and pharma, along with key earnings announcements from Bajaj Finance, ONGC, and Vodafone Idea, which could influence the next leg of market movement.

For now, Nifty’s close above 25,550 signals resilience amid global uncertainty, while the recovery in IT and metal stocks has reignited optimism for the week ahead.

• Nifty 50
• Bank Nifty
• Sensex

FAQs on Market Rebound and Nifty’s Performance

Why did the Indian stock market rebound after three consecutive sessions of losses?
The Indian market bounced back due to renewed optimism in global markets, strong buying in IT and metal stocks, and easing concerns over the U.S. government shutdown. Foreign Institutional Investors (FIIs) also turned net buyers, which helped lift investor sentiment and support the market’s recovery.

What led to IT stocks driving the market rally today?
IT stocks gained momentum on expectations of stable global demand and improved outlooks from major firms like Infosys, HCL Tech, and Wipro. A weaker U.S. dollar and optimism surrounding the Federal Reserve’s rate-cut stance also added to positive sentiment in the technology sector.

How did the Nifty 50 and Sensex perform in today’s trading session?
The Nifty 50 ended the day at 25,574.35, gaining 0.32%, while the Sensex closed 319 points higher at 83,535.35. The indices were boosted by strength in IT, pharma, and metal sectors, marking a clear turnaround after a three-day losing streak.

Which stocks were the top gainers and losers in today’s market session?
Top gainers included Infosys, Bajaj Finance, HCL Tech, Coal India, and Asian Paints, while Trent, Max Healthcare, Tata Consumer, Apollo Hospitals, and Eternal were among the top losers. The gains were largely driven by positive Q2 results and sectoral strength in IT and financials.

What sectors contributed most to today’s market gains?
The IT sector led the rally with a 1.62% rise, followed by pharma (+0.95%) and metal (+0.55%). On the downside, media (-1.04%), realty (-0.24%), and FMCG (-0.19%) ended slightly lower due to profit booking and subdued demand outlook.

What are the technical levels to watch for Nifty in the coming sessions?
Experts suggest that as long as Nifty stays above 25,300, it may consolidate before the next upward move. A sustained rally above 25,600 could push the index towards the 25,800–26,000 zone, while a fall below 25,300 might trigger short-term profit booking.

How are global cues impacting Indian equity markets currently?
Positive global cues — including progress toward resolving the U.S. government shutdown and gains in Wall Street and Asian markets — have boosted investor confidence in Indian equities. This has also led to renewed foreign inflows and strong performance across large-cap IT and banking stocks.