The Nifty 50 closed above the 25,550 mark, supported by gains in IT, pharma, and metal stocks. The index opened flat amid mixed global cues but gained strength through early trade, testing an intraday high of 25,653.45 before mid-session profit booking trimmed part of the advance.

The S&P BSE Sensex, climbed 319.07 points or 0.38% to 83,535.35. The Nifty 50 index added 82.05 points or 0.32% to 25,574.35. In the past three trading sessions Sensex and Nifty declined 0.91% and 1.05%, respectively.

Infosys (up 2.52%), Bajaj Finance (up 1.76%) and Reliance Industries (up 0.74%) boosted the indices today.

In the broader market, the S&P BSE Mid-Cap index advanced 0.62% and the S&P BSE Small-Cap index shed 0.28%.

The market breadth was negative. On the BSE, 1962 shares rose and 2372 shares fell. A total of 190 shares were unchanged.

The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, was down 2.05% to 12.30.

Goldman Sachs Upgrades India to 'Overweight':

Global brokerage firm Goldman Sachs has turned bullish on Indian equities, upgrading the country to 'overweight' on Monday, November 10, after maintaining a 'neutral' stance for over a year. The shift marks a renewed vote of confidence in India's growth story, coming 13 months after the brokerage had downgraded its outlook in October 2024. Goldman Sachs has now set a Nifty50 target of 29,000 by December 2026, implying a potential upside of around 14% from Friday's closing levels. However, the firm cautioned that risks such as earnings shortfalls, global macro headwinds, and investor uncertainty over the long-term impact of artificial intelligence (AI) on business models could temper near-term optimism.

Economy:

India's foreign exchange reserves fell by $5.6 billion to $689.73 billion in the week ended October 31, 2025, the Reserve Bank of India (RBI) said on Friday.

For the week ended October 31, foreign currency assets, a major component of the reserves, decreased by $1.9 billion to $564.59 billion, the RBI data showed.

The value of gold reserves declined by $3.8 billion to $101.72 billion during the week, the RBI said. The Special Drawing Rights (SDRs) were down by $19 million to $18.64 billion, the apex bank said.

Meanwhile, India's reserve position with the IMF was up by $16.4 million at $4.77 billion in the reporting week, the data showed.

Numbers to Track:

The yield on India's 10-year benchmark federal paper was down 0.38% to 6.496 as compared with previous close 6.521.

In the foreign exchange market, the rupee edged lower against the dollar. The partially convertible rupee was hovering at 88.7200 compared with its close of 88.6500 during the previous trading session.

MCX Gold futures for 5 December 2025 settlement rose 1.70% to Rs 123,125.

The US Dollar Index (DXY), which tracks the greenback's value against a basket of currencies, was up 0.02% to 99.62.

The United States 10-year bond yield rose 0.95% to 4.130.

In the commodities market, Brent crude for December 2025 settlement advanced 43 cents or 0.68% to $64.06 a barrel.

Global Markets:

The US Dow Jones index futures were up 209 points, indicating a strong start for US stocks later today.

Shares in Europe and Asia advanced on Monday amid renewed optimism that the prolonged U.S. government shutdown could soon end.

On Sunday, the U.S. Senate moved closer to voting on a bill to reopen the federal government, following encouraging bipartisan discussions led by Senate Majority Leader John Thune.

The record-long shutdown has weighed heavily on the U.S. economy, leaving federal employees across critical sectors'from aviation to defense'unpaid, while the Federal Reserve operates with limited economic data.

White House economic adviser Kevin Hassett reportedly warned that if the impasse persists, fourth-quarter GDP could turn negative. Supporting this concern, U.S. consumer sentiment fell to a near three-and-a-half-year low in early November.

In Asia, investors digested stronger-than-expected inflation data from China, where October's headline CPI rose 0.2% year-on-year, while producer prices declined 2.1%.

Meanwhile, minutes from the Bank of Japan's October meeting signaled that conditions for a rate hike have almost been met, though policymakers remained cautious about underlying inflation trends.

On Friday stateside in the U.S., the Nasdaq Composite continued to fall, but the Dow Jones Industrial Average and S&P 500 inched into positive territory after Senate Minority Leader Chuck Schumer offered up a new plan to Republicans that would enable the record-breaking U.S. government shutdown to end.

The tech-heavy index shed 0.21% to finish at 23,004.54. In contrast, the S&P 500 and the Dow Jones Industrial Average inched into the green. The broad-based index gained 0.13% to close at 6,728.80, while the 30-stock index added 74.80 points, or 0.16%, to settle at 46,987.10.

A survey from the University of Michigan revealed Friday that consumer sentiment in the country has neared its lowest level ever. The data comes just a day after the firm Challenger, Gray & Christmas reported that layoff announcements in October reached their highest level for the month in 22 years.

New Listing:

Shares of Lenskart Solutions closed at Rs 403.30 on the BSE, marking a modest 0.32% premium over its issue price of Rs 402. The stock debuted at Rs 390, a 2.99% discount to the issue price, before recovering during the session. It touched an intraday high of Rs 413 and a low of Rs 355.70, with over 93.41 lakh shares changing hands on the exchange.

IPO Update:

Pine Labs received bids for 5,30,42,895 shares as against 9,78,93,739 shares on offer, according to stock exchange data at 16:42 IST on Monday (10 November 2025). The issue was subscribed 0.54 times. The issue opened for bidding on 7 November 2025 and it will close on 11 November 2025. The price band of the IPO is fixed between Rs 210 and 221 per share.

Buzzing Index:

The Nifty IT index advanced 1.62% to 35,688.25. The index staged a strong comeback on Monday as investors engaged in value-buying following a recent correction, recovering part of its 2.8% decline from the recent high of 36,090.10 hit on 29 October 2025.

Infosys led the IT rally, climbing 2.59%, followed by HCL Technologies which rose 1.82%, and Persistent Systems gaining 1.7%. LTIMindtree advanced 1.48%, while Mphasis and Wipro added 1.43% and 1.42%, respectively. Oracle Financial Services Software (OFSS) gained 1.41%, Tata Consultancy Services (TCS) moved up 1.11%, Coforge added 0.91%, and Tech Mahindra edged 0.73% higher, signaling steady buying interest across leading IT stocks.

Investor sentiment was buoyed by optimism over a potential resolution to the US government shutdown, which has lasted for over 40 days. The US Senate recently advanced a measure to reopen the federal government by funding it until January 30, alongside approving three full-year appropriations bills. President Donald Trump signaled that the shutdown might be nearing its end, telling reporters, It looks like we're getting very close to the shutdown ending.

Stocks in Spotlight:

Trent slumped 7.41% after the company reported a steady performance for the September quarter. Its consolidated revenue from operations rose 16% year-on-year to Rs 4818 crore and EBITDA increased 14% to Rs 575 crore, while profit after tax grew 11% to Rs 373 crore.

The company's Q2 results drew a mixed response from brokerages, with most flagging slowing revenue momentum and margin pressures. Some brokerages highlighted weak consumer sentiment, unseasonal rains, and intensifying competition as near-term headwinds, even as cost-saving initiatives and network expansion are expected to support medium-term earnings recovery.

Uno Minda surged 7.13% after the company reported a strong Q2 FY26 performance. Consolidated revenue from operations came in at Rs 4,814 crore, up 13% year-on-year and 9% sequentially. The growth was driven by multiple segments led by switches, lighting, casting & seating business. Profit before tax increased 20% YoY and 22% sequentially to Rs 346 crore, while profit after tax (PAT) grew 27% YoY and 27% QoQ to Rs 304 crore, compared with Rs 239 crore in Q2 FY25 (excluding exceptional income) and Rs 239 crore in Q1 FY26.

FSN E-Commerce Ventures (Nykaa) rallied 5.98% after the company reported a 242.9% surge in consolidated net profit to Rs 34.43 crore on 25.1% increase in revenue from operations to Rs 2,345.98 crore in Q2 Sept 2025 over Q2 Sept 2024.

Shipping Corporation of India tanked 5.08% after it has reported 35.09% decrease in consolidated net profit to Rs 189.16 crore in Q2 FY26 as against Rs 291.44 crore posted in Q2 FY25. Revenue from operations declined 7.71% year on year to Rs 1,338.87 crore in the quarter ended 30 September 2025.

HPL Electric & Power surged 8.40% after the company said that the HPL Group and its promoters have signed a settlement agreement with Havells India. This settlement agreement resolves all pending disputes and litigations related to the use of word/ mark 'HAVELLS', including suits filed in various courts including the Delhi High Court and various special leave petitions (SLPs) filed in the Supreme Court.

As part of the settlement, the HPL Group has acknowledged that Havells India & its promoters' absolute rights to the 'HAVELLS' mark since 1971.

Transformers and Rectifiers (India) hit a lower limit of 20% after the company reported a soft set of numbers for Q2 FY26. On a consolidated basis, revenue from operations stood at Rs 460 crore, nearly unchanged from Rs 462 crore in Q2 FY25. Profit after tax (PAT) fell 19% YoY to Rs 37.5 crore, with PAT margin narrowing to 7.9%, down from 9.7% last year.

HBL Engineering surged 12.27% after the company reported a more than fourfold jump in consolidated net profit to Rs 387.27 crore in Q2 FY26, compared with Rs 87.26 crore in the same quarter last year. Revenue from operations surged 134.7% YoY to Rs 1,222.90 crore in Q2 September 2025.

National Aluminium Company (NALCO) surged 9.81% after the company reported a strong performance for the September quarter (Q2 FY26), driven by improved operational efficiency, higher alumina output, and cost optimization initiatives. On a standalone basis, the company's net profit surged 34.93% year-on-year to Rs 1,433.17 crore on a 7.27% rise in revenue from operations to Rs 4,292.34 crore in Q2 FY26 over Q2 FY25.

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