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Below the Market Commentary (closing) for 3rd November 2025 by Bajaj Broking

Market Closing Commentary

Benchmark indices traded in a range and closed marginally higher on Monday signaling a mixed but cautiously optimistic market mood. At close, the Sensex was up 39.78 points or 0.05 percent at 83,978.49, and the Nifty was up 41.25 points or 0.16 percent at 25,763.35 reflecting investors' cautious stance amid ongoing consolidation after strong gains last month. Broader market traded with positive bias as the Nifty midcap 100 and Nifty small cap 100 closed with gains 0.77% and 0.72%. On the sectoral front, pharma, telecom, realty, PSU Bank indices added 1-2%.  While IT, FMCG and consumer durable closed lower by 0.1%-0.3%. PSU banks stocks rose for the second session on the back of stronger than expected quarterly earnings, healthier asset quality, and improved credit growth prospects, which helped restore investor confidence in the sector.

Nifty Outlook

The index formed a small bull candle highlighting buying demand at lower levels near previous major high after last two sessions of corrective decline. The market overall remains in a firm up trend. The ongoing phase of consolidation in the last 8 sessions is best interpreted as a healthy retracement and time correction following a sharp 1,500-point up move in four weeks. We believe the current breather should be used to accumulate quality stocks in a staggered manner. We expect the index to maintain positive bias and head towards last two weeks high of 26,100 and then towards the all-time high of 26,277 in the coming sessions. Strong support is seen around 25,500–25,300, which is likely to hold as it is the confluence of the recent breakout zone, key retracement of previous up move and 50 days EMA.

Bank Nifty Outlook

The index snapped its two sessions corrective decline and closed above the 58,000 levels. Index has formed a bull candle which remained enclosed inside previous session high-low range signaling consolidation amid stock specific action. Going ahead, index to extend consolidation of the last two weeks in the range of 57300-58500 thus forming base after the next leg of up move. A decisive move above last two week’s high of 58,577 would confirm a breakout continuation, paving the way for a rally towards 59,000 being the 138.2% Fibonacci projection of the recent correction (57,628–53,561). On the downside, immediate support is seen around 57,300–57,500, aligning with the previous breakout zone, while a stronger support base lies near 56,800–56,500. Overall, the outlook remains positive, and any pullbacks should be viewed as buying opportunities within these support areas. PSU Banking stocks to extend the recent outperformance.

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