November 3rd to November 7th 2025
It was another bad week for Dalal Street as the Nifty ended lower for 2nd straight week.
The silver lining, however, came from the banking space — the Bank Nifty managed to close in positive territory, aided by strong traction in PSU Bank stocks, which continued to emerge as Dalal Street’s most resilient and bullish pocket.
The Big Question: Will Nifty continue to witness sustained selling pressure and fragile sentiment?
Nifty (-0.89%, 25492)
Sensex (-0.86%, 83216)
Bank Nifty (+0.17%, 57877)
Before we start, the ‘Red Flag’: Not many bulls are out there right now.
The most bullish scenario would be that the bulls and bears could wrestle for dominance, leaving the benchmark caught in a range amid rising intraday volatility.
We say so, because of 4-key headwinds:
1) Muted Q2 earnings season back home
2) FIIs were net sellers in the week gone by to the tune of ₹1,633 crore — adding further pressure to sentiment.
3) In the US, the government shutdown shows no signs of resolution and is likely to extend into a second month, further delaying the release of key economic data.
4) Pessimism revolves around Fed Chairman Jerome Powell, saying that they are uneasy about rate cuts without inflation data, citing rising services inflation right before the shutdown.
Technically speaking, confirmation of strength now only above Nifty 25900 mark.
Weekly Recap:
Instruments LTP Weekly % Change
Nifty 25492 (-0.89%)
Sensex 83216 (-0.86%)
Bank Nifty 57877 +0.17%
Nifty Midcap 17031 +0.14%
India VIX 12.56 +3.33%
Dow 46987 (-1.21%)
Nasdaq 25060 (-3.09%)
Bovespa 154064 (+3.02%)
Crude Oil 59.75 (-2.02%)
Gold 4001 (-0.09%)
Silver 48.50 (-2.91%)
USD/INR 88.67 (-0.11%)
Here are how indices performed in the week gone by:
1) Nifty (-0.89%) ended lower for the 2nd straight week, and the negative takeaway was that the benchmark ended way below its 21-DMA at 25611 mark.
Nifty however still continues to trade above its 50 DMA (25202) and its 100 DMA (25110). Nifty’s 200 DMA at 24375 mark.
2) Bank Nifty (+0.17%) was seen consolidating despite Nifty’s sluggish action.
The positive takeaway was that Bank Nifty managed to end above the dotted lines and is flirting near its all-time-high at 58577.50 mark.
Bank Nifty’s 200-DMA is at 54003 mark.
3) Nifty Private Bank index inched 0.14% higher while Nifty PSU Bank index gained 2.05% higher.
4) The broader markets however traded with positive bias with Nifty Mid-cap 50 index ended a tad 0.01% higher while the Nifty Small-cap index slumped 1.66% lower.
Bullish Sectors:
Nifty PSU Bank (+2.05%)
Bearish Sectors:
Nifty Media (-3.17%)
Nifty Infra (-1.8%)
Nifty Metal (-1.71%)
Nifty IT (-1.67%)
Nifty FMCG (-1.37%)
Nifty Energy (-1.34%)
Nifty Realty (-0.12%)
Nifty Auto (-0.11%)
Nifty Pharma (-0.03%)
STOCK SPECIFIC NEWS:
1) CCL Products (India) (+19.24%) zoomed higher after reporting impressive Q2 financial results. Standalone net profit increased by 306% to Rs. 112.26 crores, with revenue from operations rising 28% to Rs. 559.18 crores.
2) Allied Blenders and Distillers (-2.89%) declined despite the company’s consolidated net profit stood jumped 35.21% to Rs 64.31 crore in Q2 FY26 as against Rs 47.56 crore posted in Q2 FY25. Revenue from operations (excluding excise duty) increased by 10.93% year-on-year (YoY) to Rs 962.53 crore in Q2 FY26.
3) One 97 Communications (+3.32%) gained after the company reported a consolidated net profit of Rs 21 crore in Q2 FY26, which is sharply lower as compared with the PAT figure of Rs 930 crore recorded in Q2 FY25. Revenue from operations during the period under review increased by 24% YoY to Rs 2,061 crore.
4) Interglobe Aviation(Indigo) (-0.74%) slipped after the company’s consolidated net loss widens to Rs 2,582.1 crore in Q2 FY26, compared with net loss of Rs 986.7 crore in Q2 FY25, including the impact of currency movement pertaining to dollar based future obligations. Revenue from operations increased 9.34% to Rs 18,555.3 crore in Q2 Sept 2025, driven by strong operational execution and efficient capacity deployment.
5) Arvind Ltd (+2.98%) gained on reporting a 70% year-on-year rise in consolidated net profit to ₹106.74 crore for the second quarter of the financial year 2025–26 (Q2FY26), driven by higher revenue and the absence of a deferred tax expense recorded in the previous year.
6) GlaxoSmithKline Pharmaceuticals slipped 1.17% after the company posted a modest 2% year-on-year rise in consolidated net profit at ₹257 crore for the quarter, up from ₹253 crore a year earlier. However, revenue from operations declined 3.1% to ₹980 crore compared with ₹1,011 crore in the same period last year.
7) Crompton Greaves Consumer Electricals edged 1.96% lower as quarterly consolidated net profit tumbled 43% YoY to ₹71.2 crore from ₹125 crore a year ago. Revenue, however, inched up 1% YoY to ₹1,916 crore from ₹1,896 crore.
8) GMM Pfaudler dropped 4.6% despite reporting a robust jump in consolidated net profit to ₹41.4 crore for the quarter, compared with ₹15.2 crore in the same period last year. Revenue rose 12% YoY to ₹902 crore from ₹805 crore.
9) Redington (+15.07%) surged after its consolidated revenue for Q2 FY26 stood at Rs 29,118 crore, up 17% year-on-year, driven by robust demand across India, the Middle East, and Africa. Net profit jumped 32% YoY to Rs 388 crore, while EBITDA rose 23% YoY to Rs 632 crore.
10) Astral (+7.39%) zoomed higher after its revenue from operations rose 15.1% year-on-year to Rs 1,577.4 crore, up from Rs 1,370.4 crore in Q2 FY25, driven by sustained demand in both core segments.
11) Delhivery (-7.81%) slumped after the company reported a consolidated net loss of Rs 50.37 crore in Q2 FY26, compared with a net profit of Rs 10.20 crore in Q2 FY25.
4) Avanti Feeds (+0.08%) consolidated after the company’s consolidated net profit jumped 34.87% to Rs 153.29 crore in Q2 FY26 as against Rs 113.65 crore in Q2 FY25.
In the week gone by, notable gainers amongst Nifty 50 were:
SHRIRAM FINANCE (+9.01%)
M&M (5.82%)
ASIAN PAINTS (+1.40%)
HDFC LIFE (+2.38%)
BAJAJ FINANCE (+2.28%)
And the losers were:
HINDALCO (-6.78%)
GRASIM (-5.78%)
POWERGRID (-5.60%)
ADANI ENTERPRISES (-4.5%)
MARUTI (-4.37%)
WHAT’S NEXT FOR NIFTY?
A much-awaited rebound could be on the cards next week as Nifty bulls look to take cues from Wall Street’s roaring comeback from steep losses in Friday’s session.
The 2-big questions:
1) Are Nifty and its stocks already priced to perfection?
2) The return of risk?
The Street continues to show signs of fatigue after a barrage of below-expectation Q2 corporate results.
What’s dampening sentiment further is that Dalal Street is underperfoing its peers and most importantly, a time when confidence in earnings is showing cracks.
Still, a phase of mild uncertainty and consolidation might be exactly what the market needs before the next leg of the rally.
Near-term cues to watch include Q2 India corporate earnings,
Sunday (November 9): JYOTI CNC, VLS FIANANCE
Monday (November 10): SYRMA SGS TECHNOLOGIES, VODAFONE IDEA, V-MART RETAIL.
Tuesday (November 11): VESUVIUS, ZAGGLE PREPAIDYATRA ONLINE, TORRENT POWER, TRANSRAIL LIGHTING, VINDHYA TELELINKS, ZUARI INDUSTRIES
Wednesday (November 12): YUKEN INDIA, WANBURY, TEGA INDUSTRIES
Thursday (November 13): VIPUL ORGANICS,
Friday (November 14): V2 RETAIL, UNIPARTS
Last but not least, on the technical front, the Nifty will look to defend 100-DMA support at 25110 while on the upside targets remain at Nifty’s psychological 26000 mark and then all bullish eyes on Nifty’s all-time-high at 26277.35 mark.
Disclaimer/ Disclosure: The investments & trading ideas recommended in the market analysis, research reports, etc. may not be suitable for all investors. This article or data points does not construe investment advice as stock market investments are subject to market risks so please refer to your financial consultant advice before Investing or trading. All information is a point of view, and is for educational, Learning and informational use only. The author or the group admin accepts no liability for any interpretation of articles or comments on this platform being used for actual investments. Registration granted by SEBI and certification from NISM in no way guarantee performance of the intermediary or provide any assurance of returns to investors. Investors must make their own investment decisions based on their specific investment objectives, goals and financial position only after consulting with registered market intermediaries.
