Post by : Bianca
Haleem
India's stock exchanges were shut on November 5 as both the Bombay Stock Exchange (BSE) and National Stock Exchange (NSE) observed Prakash Gurpurb Sri Guru Nanak Dev Jayanti. Trading in equities, derivatives, currency and interest-rate instruments was suspended for the day, while commodity derivatives resumed trading in the evening session from 5 pm.
The shutdown followed a volatile session on November 4, when widespread selling pushed the Nifty 50 below the 25,600 mark. The Sensex dropped 519 points to close at 83,459, with most sectors — apart from telecom and consumer durables — under pressure. Midcap and smallcap indices also dipped, falling about 0.2% and 0.7% respectively.
Among Nifty components, Power Grid, Coal India, Tata Motors Passenger Vehicles, Bajaj Auto and Eicher Motors were among the biggest decliners, while Titan Company, Bharti Airtel, Bajaj Finance, HDFC Life and M&M recorded gains. Sectoral weakness was seen across IT, autos, FMCG, metals, power, realty and PSU stocks, reflecting cautious investor sentiment.
Market participants attributed the pullback to weekly expiry-related flows, profit-booking in heavyweight names and a muted risk appetite amid weak global cues. Inconsistent foreign institutional investor flows added to the caution. Technical analysts warned that a sustained move below the 20-day EMA could open the way toward 25,400, with resistance expected around 25,800.
On currency markets, the Indian rupee closed at 88.65 to the US dollar, strengthening by 13 paise from the prior session. Early gains were partly pared as selling resumed, leaving volatility intact. Analysts see a likely trading band for the rupee between 88.25 and 88.90.
With markets closed for the holiday, investors will look for fresh domestic and global cues when trading recommences on November 6, seeking signs of stability after the brief pause.
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