The Indian stock market witnessed a muted start to November trading on Monday. The BSE Sensex settled the session near 84K, climbing 40 points, while the NSE Nifty50 rang the closing bell a little under 25,800, rising nearly 50 points.
On the 30-share Sensex, M&M, Tata Motors Passenger Vehicles, Eternal, SBI, and Bharti Airtel settled among the gainers. Meanwhile, the laggards included Maruti, ITC, L&T, TCS, and BEL.
In the broader markets, the Nifty Microcap250 stood out with gains of 1.07 per cent. Sectorally, the Realty index dominated across the board after it closed more than 2 per cent higher.
Both benchmarks slipped in early trade today morning as investors weighed mixed global signals amid a lack of strong domestic triggers. Selling pressure was visible across most sectors, barring public sector banks, which continued to attract buying interest.
While the Sensex opened trading under 83,900, the Nifty began the day on a nearly flat note. As trading progressed, both indices managed to recover from the morning blues and ended marginally higher.
Market analysts attributed the muted start to profit booking and renewed foreign institutional investor (FII) selling, which have capped upside momentum in recent sessions.
Analysts also pointed out that demand for automobiles, particularly in the small car segment, continues to exceed expectations, signalling steady consumer confidence despite broader macroeconomic uncertainty.
Manufacturing Sector Adds to Optimism
Meanwhile, the manufacturing sector reported robust growth in October today as the HSBC India Manufacturing Purchasing Managers’ Index (PMI) soared to 59.2 in the month.
The manufacturing sector recorded its fastest growth in five years last month, according to a survey by S&P Global. This surge was driven by strong domestic demand, tax relief, and improved productivity. The survey highlighted that the sharp rise in new orders was the key driver of expansion, with firms citing robust consumer sentiment, effective advertising, and benefits from Goods and Services Tax (GST) reforms. Domestic orders powered much of the growth, while export orders rose at a slower pace compared to earlier in the year. Input purchases also accelerated, marking the fastest pace since May 2023.
Global Markets
Overseas cues offered limited direction. On Friday, US stocks ended higher, with the Nasdaq gaining 0.61 per cent, the S&P 500 rising 0.26 per cent, and the Dow Jones Industrial Average adding 0.09 per cent.
Notably, in the last trading session on Friday, FIIs dumped Indian shares worth Rs 6,769 crore, while domestic institutional investors (DIIs) emerged as net buyers for the seventh consecutive session with an infusion of Rs 7,068 crore.
