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The market opened flat with Sensex at 84,000.64 compared to the previous close of 83,978.49, while Nifty opened at 25,744.75 compared to 25,763.35. However, continued selling pressure throughout the day pushed both benchmarks close to their intraday lows.
“Indian equity markets closed lower following weak global cues and broad selling, especially in IT, metals and energy sectors. FIIs extended their selling streak for the fourth consecutive session, while rising US bond yields and waning expectations of a near-term Fed rate cut limited risk appetite,” said Vinod Nair, head of research at Geojit Investments Limited.
Sectoral weakness is increasing
All major sector indices ended in the red. Nifty Metal and IT led the decline, losing nearly 1.5 percent, while defense and capital market indices also fell around 1.5 percent. Nifty Bank fell 274.40 points or 0.47 percent to 57,827.05, Nifty Financial Services fell 110.35 points or 0.40 percent to 27,195.80, and Nifty Next 50 fell 314.50 points or 0.45 percent to 70,168.80. The Nifty Midcap 100 fell 250.20 points or 0.42 percent to 60,037.20.
Among the Nifty 50 voters, Titan emerged as the biggest gainer, rising 2.30 per cent to close at ₹3,810.00, followed by Bharti Airtel, which rose 1.74 per cent to ₹2,110.00. Bajaj Finance rose 1.11 per cent to ₹1,054.70, Mahindra & Mahindra added 1.00 per cent to ₹3,584.30, and HDFC Life rose 0.92 per cent to ₹742.80.
On the losing side, Power Grid Corporation led the decline, down 3.19 percent to ₹278.80, followed by Eternal, which fell 2.82 percent to ₹313.50. Adani Enterprises fell 2.72 per cent to ₹2,399.90, Tata Motors Passenger Vehicles fell 2.40 per cent to ₹407.00, and Hindalco fell 1.93 per cent to ₹830.85.
The market breadth remained weak with 2,549 shares falling, 1,618 rising and 162 unchanged on the BSE. A total of 4,329 shares traded, with 145 hitting a 52-week high and 91 hitting a 52-week low.
Technical indicators are bearish
“The Nifty continued its lower highs and lower lows and fell below the 25,600 mark. Momentum indicators and oscillators have given a selling crossover on the daily chart, indicating near-term weakness is likely to continue. Immediate support is placed at the 21-DMA near 25,570, followed by psychological support at 25,500 levels,” said Nilesh Jain, Head of Technical and Derivatives Research at Centrum Broking Ltd.
Shrikant Chouhan, Head Equity Research at Kotak Securities, commented, “Technically, on intraday charts, the market has a lower top formation, and on daily charts, it has formed a bearish candle, indicating further weakness from current levels. As long as the market trades below 25,700/83,750, the weak sentiment is likely to continue.”
Rupee and gold slide
The rupee witnessed volatility during the session. “The rupee started the session strongly, opening around 88.40 with a gain of around 0.30 rupees, likely supported by intervention. However, initial optimism faded as the rupee lost ground and closed around 88.63 amid renewed selling pressure,” said Jateen Trivedi, VP Research Analyst at LKP Securities. He added that the expected trading range for the rupee is 88.25-88.90.
In commodities, gold prices fell by ₹500 to ₹1,20,950 per 10 gram due to a strong dollar and uncertainty over future interest rate cuts by the US Fed. “Gold is expected to remain volatile in the range of ₹1,18,500 – ₹1,24,000,” Trivedi noted.
Volatility continues
Looking ahead, volatility is expected to persist as global developments and institutional flows continue to shape the direction of the market. With major domestic earnings announcements looming and a shorter trading window due to the Guru Nanak Jayanti holiday, market liquidity could remain uneven, leading to sharp intraday moves. Traders are advised to maintain a strong focus on risk management until a clear directional trend emerges.
Published on November 4, 2025
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