Indian equity markets extended their winning streak for the third consecutive session on Monday, with the Nifty 50 closing at 23,440.80, marking a robust gain of +1.68%. This rally, fueled by significant buying in index heavyweights, particularly Reliance Industries, alongside cooling crude oil prices, reflects a broader confidence in domestic economic indicators. Despite mixed signals from global markets, the domestic indices have maintained their upward trajectory, with the Nifty 50 currently trading at its 20-session high of 23,440.80.
The 60-Second Version
- The Nifty 50 index concluded at 23,440.80, reflecting a gain of +1.68%.
- Banking and auto sectors led the market gains, while IT and pharma faced mild pressure.
- Reliance Industries surged +11.60%, emerging as the top gainer for the session.
- Institutional investors have shown sustained confidence, with a net inflow of ₹5,770 crore from FIIs over the last three sessions.
- Thirty-three Nifty 500 companies are scheduled to report their quarterly results today, including Bajaj Finserv and Bata India.
Market Snapshot
The markets have demonstrated consistent strength, with the Nifty 50 rising +3.02% over the last five sessions. The current closing level of 23,440.80 places the index at its 20-session high, a clear indicator of the bullish sentiment currently dominating the trading floor. The 20-session range has fluctuated between 22,231.80 and 23,440.80, underscoring the recent recovery.
| Index | Last |
|---|---|
| Nifty 50 | 23,440.80 (+1.68%) |
| Nifty Bank | 55,002.20 (+0.58%) |
| Nifty Midcap 100 | 57,983.40 (+1.19%) |
Where the Money is Flowing
Institutional participation remains a key driver of the current market momentum. Foreign Institutional Investors (FIIs) have been net buyers, injecting significant liquidity into the market, which has helped sustain the rally over the last three trading sessions. Domestic Institutional Investors (DIIs) have also contributed positively, reinforcing the stability of the current uptrend.
| Period | FII Net (₹ Cr) | DII Net (₹ Cr) |
|---|---|---|
| Last 3 Sessions | +5,770 | +715 |
Sectors and Movers
Sectoral performance was largely positive, with PSU Bank and Auto sectors leading the charge. The Nifty PSU Bank index rose +1.36%, while the Nifty Auto index gained +1.33%. Conversely, the Nifty IT index saw a decline of -0.50%, and the Nifty Pharma index dipped slightly by -0.07%, indicating some rotation in investor interest.
| Sector | Last |
|---|---|
| Nifty PSU Bank | 8,346.95 (+1.36%) |
| Nifty Auto | 25,761.00 (+1.33%) |
| Nifty Realty | 822.25 (+1.03%) |
| Nifty FMCG | 43,974.65 (+0.84%) |
| Nifty Financial Services | 24,899.05 (+0.76%) |
| Nifty Pharma | 27,105.00 (-0.07%) |
| Nifty IT | 32,442.50 (-0.50%) |
Reliance Industries was the standout performer, surging +11.60% following its quarterly earnings announcement. Steel manufacturers also saw significant gains, with Tata Steel and JSW Steel both finishing in the green.
| Symbol | Company | Last |
|---|---|---|
| RELIANCE | Reliance Industries Ltd. | 1,300.00 (+11.60%) |
| TATASTEEL | Tata Steel Ltd. | 177.37 (+5.83%) |
| JSWSTEEL | JSW Steel Ltd. | 1,309.90 (+5.13%) |
| COALINDIA | Coal India Ltd. | 408.00 (+4.88%) |
| SHRIRAMFIN | Shriram Finance Ltd. | 863.35 (+4.88%) |
| INFY | Infosys Ltd. | 1,161.00 (-2.03%) |
| ICICIBANK | ICICI Bank Ltd. | 1,387.40 (-0.76%) |
| DRREDDY | Dr. Reddy’s Laboratories Ltd. | 1,342.00 (-0.74%) |
| KOTAKBANK | Kotak Mahindra Bank Ltd. | 458.35 (-0.70%) |
| AXISBANK | Axis Bank Ltd. | 1,209.00 (-0.66%) |
The World and the Economy
Global markets provided a mixed backdrop, with technology stocks in the US facing some headwinds. However, for Indian markets, the decline in global crude oil prices has been a significant positive, easing concerns over domestic inflation. Union Minister of Commerce and Industry Piyush Goyal recently highlighted that India’s ongoing trade pacts are expected to open up preferential access to markets with a combined GDP of $85 trillion, a long-term structural positive for the economy.
Companies, Results and IPOs
- Garden Reach Shipbuilders secured a ₹32,000 crore contract from the Indian Navy for five Next Generation Corvettes.
- UPL reported a -24% decline in its consolidated net profit for the second quarter.
- Tencent Holdings exited its stake in Swiggy, selling shares worth ₹981.79 crore.
- Johnsoncab Electricals, Vectras Enprocon, Maxwell Engineering Solutions, and HGS (India) are closing their IPO bidding processes today.
- BLS Polymers, SFC Environmental Technologies, and Wiscon Industries are scheduled to list on the exchanges today.
Today on the Calendar
The earnings season continues with 33 Nifty 500 companies scheduled to hold board meetings today, including Bajaj Finserv, Bajaj Holdings & Investment, Bata India, BLS International Services, Asahi India Glass, and Anthem Biosciences. Additionally, shares of Infosys, Gravita India, Mazagon Dock Shipbuilders, and RR Kabel will trade ex-dividend today.
The Nifty 50’s close at its 20-session high, coupled with strong FII inflows, signals a robust bullish trend that continues to defy external geopolitical uncertainties.
| Index | Close | Change | Change % |
|---|---|---|---|
| Nifty Bank | 55,002.20 | +315.25 | +0.58% |
| Nifty 50 | 23,440.80 | +387.70 | +1.68% |
| NIFTY Midcap 100 | 57,983.40 | +682.15 | +1.19% |
Nifty 50: the bigger picture
| Measure | Value |
|---|---|
| Last 5 sessions | +3.02% |
| Last 20 sessions | +4.54% |
| 20-session high | 23,440.80 |
| 20-session low | 22,231.80 |
| Below the 20-session high | At the high |
| Current run | 3 sessions up in a row |
| Stock | Price | Change % |
|---|---|---|
| Reliance Industries Ltd. | ₹1,300 | +11.60% |
| Tata Steel Ltd. | ₹177.37 | +5.83% |
| JSW Steel Ltd. | ₹1,309.9 | +5.13% |
| Coal India Ltd. | ₹408 | +4.88% |
| Shriram Finance Ltd. | ₹863.35 | +4.88% |
| Stock | Price | Change % |
|---|---|---|
| Infosys Ltd. | ₹1,161 | −2.03% |
| ICICI Bank Ltd. | ₹1,387.4 | −0.76% |
| Dr. Reddy’s Laboratories Ltd. | ₹1,342 | −0.74% |
| Kotak Mahindra Bank Ltd. | ₹458.35 | −0.70% |
| Axis Bank Ltd. | ₹1,209 | −0.66% |
| Sector index | Change % |
|---|---|
| +1.36% | |
| +1.33% | |
| +1.03% | |
| +0.84% | |
| +0.76% | |
| −0.07% | |
| −0.50% |
| Session | FII net | DII net |
|---|---|---|
| 2 Nov | +3,115 | −392 |
| 30 Oct | +3,599 | −818 |
| 29 Oct | −944 | +1,924 |
| Last 3 sessions | +5,770 | +715 |
On the calendar today, Tuesday, 3 November
| Company | Also considering a dividend |
|---|---|
| AIA Engineering Ltd. | — |
| Authum Investment & Infrastructure Ltd. | — |
| Anthem Biosciences Ltd. | — |
| Asahi India Glass Ltd. | — |
| Bajaj Finserv Ltd. | — |
| Bajaj Holdings & Investment Ltd. | — |
| Bata India Ltd. | — |
| BLS International Services Ltd. | — |
| Chambal Fertilisers and Chemicals Ltd. | Yes |
| Clean Max Enviro Energy Solutions Ltd. | — |
| Emcure Pharmaceuticals Ltd. | — |
| Endurance Technologies Ltd. | — |
| Company | What happens |
|---|---|
| Johnsoncab Electricals Ltd. Price band ₹190 to ₹200 | Last day to bid |
| Vectras Enprocon Ltd. Price band ₹99 to ₹105 | Last day to bid |
| Maxwell Engineering Solutions Ltd. Price band ₹150 to ₹158 | Last day to bid |
| HGS (India) Ltd. Price band ₹114 to ₹120 | Last day to bid |
| BLS Polymers Ltd. Price band ₹142 to ₹150 | Lists on the exchanges |
| SFC Environmental Technologies Ltd. Price band ₹313 to ₹330 | Lists on the exchanges |
| Wiscon Industries Ltd. Price band ₹194 to ₹204 | Lists on the exchanges |
| Company | Event | Detail |
|---|---|---|
| Gravita India Ltd. | dividend | ₹7.7 per share |
| Infosys Ltd. | dividend | ₹26 per share |
| Mazagon Dock Shipbuilders Ltd. | dividend | ₹5 per share |
| RR Kabel Ltd. | dividend | ₹6.5 per share |