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Market Outlook: Indian markets are likely to open sharply lower on 6 November, with Gift Nifty down 69.5 points (-0.28%) after a sharp overnight sell-off in global equities. The S&P 500 declined 4.35%, Dow Jones fell 3.44% and Nasdaq 100 dropped 6.36%, while Nikkei and KOSPI declined 6.96% and 8.09%, respectively. Nifty had closed at 24,536.60 on 5 November, gaining 2.40%, with immediate support at 24,361 and 24,187, while resistance is placed at 24,644 and 24,753.

FII & DII Activity: Foreign investors remained aggressive buyers on 5 November, with FII/FPI buying of Rs 14,975 crore against selling of Rs 16,823 crore, resulting in net buying of Rs 14,975 crore as reported in the fund-flow table. DIIs were net sellers of Rs 10,445 crore. Cumulative FII buying during the first three sessions of November reached approximately Rs 17,236 crore, providing strong support to the recent market recovery.

Sector Activity: Financials and automobiles led the rally on 5 November. Nifty Financial Services rose 4.24%, led by Bajaj Finance (+7.65%), 360 ONE (+6.76%), Cholamandalam Investment (+6.15%) and Shriram Finance (+6.08%). Nifty Auto gained 4.14%, driven by Uno Minda (+11.54%), Ashok Leyland (+10.50%), M&M (+5.59%) and Maruti (+5.48%). Metals also gained 0.87%, while Media declined 0.84%.

F&O Activity: Fresh long build-up was visible in Coromandel, Karur Vysya Bank, Asian Paints, Ashok Leyland and Swiggy. Fresh short build-up was seen in PI Industries, Data Patterns, Cummins India, OIL and Bharat Forge. Long unwinding emerged in Power India, GVT&D, APL Apollo, GAIL and Mankind Pharma, while short covering was seen in Uno Minda, Motilal Oswal Financial Services, Bajaj Finance, M&M and Shriram Finance.

Top 5 News:

Dr. Reddy’s Laboratories: Brazil’s ANVISA approved Dr. Reddy’s generic semaglutide injection for adults with inadequately controlled type 2 diabetes. The once-weekly product will be launched with Aché in pre-filled multidose pens, with Brazil’s semaglutide diabetes market estimated at approximately US$244.6 million.
ONGC: Q2 FY27 standalone net profit increased 57.3% YoY to Rs 15,489 crore, while gross revenue rose 32.8% to Rs 43,875 crore. ONGC declared an interim dividend of Rs 8 per share and awarded two Western Offshore development projects worth approximately Rs 11,800 crore, targeting around 22 million tonnes of oil-equivalent resources.
Bharti Airtel: Q2 FY27 consolidated revenue increased 16.7% YoY to rs 60,878 crore, with EBITDA of rs 35,240 crore and a 57.9% margin. India mobile ARPU improved to rs 271, while postpaid additions reached a record 12 lakh customers. Airtel also invested Rs 2,826 crore in land for data-centre expansion and incurred quarterly capex of Rs 12,467 crore.
Mahindra & Mahindra: Q2 FY27 consolidated revenue grew 25% YoY to Rs 57,553 crore, while attributable profit rose 25% to Rs 4,588 crore. Automotive revenue increased 39% and automotive PAT rose 55%, supported by 26% growth in total vehicle sales. Farm revenue declined 6%, with tractor sales also down 6%.
GAIL: GAIL Mangalore Petrochemicals commissioned its 1.25 MTPA PTA plant in Karnataka after acquiring and refurbishing the former JBF Petrochemicals asset. The facility will operate under the “G-Tex” brand and cater to polyester fibre, yarn and PET resin applications, with proximity to New Mangalore Port providing dedicated logistics infrastructure.

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