Stock Market Today: Sensex Rises 60 Points; Nifty Flat as Auto & FMCG Stocks Face Selling Pressure
Indian stock market opened on a muted note on Tuesday. Sensex gained 60 points while Nifty was up by just 10 points amid pressure on auto and FMCG stocks. Bank Nifty showed slight weakness as investors remained cautious ahead of key earnings.
Mumbai, November 4:
The Indian stock market opened on a sluggish note on Tuesday, with the Sensex up 60 points and the Nifty up 10 points. Despite marginal gains, auto and FMCG stocks came under selling pressure, while the Bank Nifty traded slightly lower.
Global cues and domestic earnings reports are influencing investor sentiment, prompting a cautious trading approach.
Global Market Overview:
On Monday, the Dow Jones fell by 226 points, while the Nasdaq gained 109 points, and the S&P 500 closed with minor gains. Strong buying in technology stocks helped offset losses in the banking sector.
The GIFT Nifty traded around 23,100 in early sessions, suggesting a flat opening for Indian markets. Japan’s Nikkei surged to 52,500 — up 32% so far this year — while major US indices have also gained between 11% and 24% year-to-date.
Commodity & Currency Update:
Gold prices remained steady, while silver dipped slightly. Crude oil stayed near $65 per barrel. The Dollar Index rose for the fifth consecutive session to 99.70, its highest in three months. The Indian Rupee closed at ₹88.78 per USD.
Quarterly Earnings Highlights:
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Bharti Airtel: Strong results, better than expected.
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Titan: Mixed performance.
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Power Grid: Weaker results.
Investors are now awaiting Q2 results from SBI, M&M, Adani Enterprises, Adani Ports, and IndiGo.
FII-DII Activity:
Foreign Institutional Investors (FIIs) sold equities worth around ₹4,070 crore, while Domestic Institutional Investors (DIIs) continued their 47th consecutive day of buying, lending some support to the market.
