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Market Outlook: Indian markets are likely to open marginally higher on 9 November, with Gift Nifty at 25,036, up 0.18%. Global cues were mixed, with the S&P 500 gaining 0.31% and Nasdaq 100 rising 1.35%, while the Dow Jones declined 0.46%. The Nifty closed at 24,986 and India VIX rose 6.01% to 19, indicating some increase in near-term volatility.

FII & DII Activity: On 8 November, FII/FPI activity was broadly neutral, with purchases of Rs 52.4 crore against sales of Rs 52.6 crore, resulting in net selling of Rs 0.3 crore. DIIs remained net sellers, with buying of Rs 331.1 crore and selling of rs 1,031.4 crore, resulting in net selling of Rs 700.3 crore. On a longer-term basis, cumulative FII flows remain negative, while DII flows continue to provide support.

Sector Activity: Pharma and healthcare led sectoral performance, with Nifty Pharma rising 1.74%, driven by Divi’s Laboratories (+7.52%), PPL Pharma (+3.25%), Sun Pharma (+2.96%) and Wockhardt (+2.74%). Nifty Healthcare gained 1.48%, while Media rose 1.71%. Realty declined 0.65% and Nifty Bank fell 0.40%, dragged by Federal Bank, IndusInd Bank, PNB and Axis Bank.

F&O Activity: Fresh long build-up was seen in Divi’s Laboratories, Ashok Leyland, Motilal Oswal Financial Services, Tata Steel and Navin Fluorine. Fresh short build-up was visible in Data Patterns, Amber Enterprises, Prestige Estates, LTF and Jubilant FoodWorks. Long unwinding was seen in Voltas, IndusInd Bank, Jindal Steel, PG Electroplast and Uno Minda, while short covering was observed in Siemens, Sun Pharma, Astral, ONGC and E&R.

Top 5 News:

Tata Motors Gains Iveco Control: Tata Motors’ subsidiary is set to increase its holding in Iveco to 96.29% following provisional tender results. The reopened offer attracted 1.83 crore shares for approximately €263.65 million at €14.40 per share. Payment is scheduled for 13 November, after which the subsidiary plans to initiate a Dutch legal squeeze-out of the remaining shareholders.
Hindalco Reports Strong Q2: Hindalco’s Q2 FY27 consolidated revenue increased 39% YoY to Rs 91,708 crore, while PAT rose 59% to rs 7,533 crore and EBITDA increased 42% to rs 13,757 crore. Aluminium upstream EBITDA grew 55% to Rs 7,009 crore, while copper EBITDA surged 164% to Rs 1,673 crore. Net debt-to-EBITDA increased to 1.80x from 1.23x a year earlier.
Tata Steel EBITDA Improves: Tata Steel reported Q2 FY27 consolidated revenue of Rs 65,436 crore, with EBITDA rising 17% YoY to rs 10,665 crore and PAT at Rs 3,700 crore. India deliveries increased 16% sequentially to 5.98 million tonnes, with EBITDA of Rs 17,790 per tonne. Netherlands EBITDA recovered to €72 million, while the UK reported an EBITDA loss of £56 million.
Adani Expands Data Centre Footprint: AdaniConneX completed the acquisition of 100% of Vizag Mega Data Center Park for Rs 1,085.51 crore. The acquired company owns a sizeable land parcel and has secured key infrastructure-development licences, although it has not yet commenced commercial operations and reported nil turnover.
Data Patterns Q2 Declines: Data Patterns reported a 56.7% YoY decline in Q2 FY27 revenue to Rs 133.25 crore, while PAT fell 55.3% to Rs 21.97 crore. EBITDA declined to Rs 31.44 crore, although the margin improved to 23.6% from 22.3%. Firm orders on hand stood at rs 1,742 crore, with another rs 956 crore under negotiation, while Q2 order inflows were Rs 929 crore.

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