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* Equity benchmark Nifty declined by over 100 points, finishing below the 26,000 mark as concerns over FII selling and a delay in the US–India trade agreement weighed on market sentiment. Selling pressure was widespread as traders remained cautious ahead of the November series expiry for Nifty, Bank Nifty, and Fin Nifty scheduled for tomorrow.

* The advance–decline ratio for Nifty 500 stocks stood at 1:4, reflecting profit booking in mid-cap and small-cap counters. Realty, Oil & Gas, Metal, and Defence indices dropped 1–2% due to profit-taking. In contrast, IT stocks emerged as the day's key performers on the back of bargain buying, with the Nifty IT index climbing nearly 1%. Tech Mahindra, Wipro, Persistent Systems, and Mphasis rose between 1–2%. Overall, Nifty ended 108 points lower, down 0.4%, at 25,959.

* Meanwhile, global markets were upbeat, with Asian and European indices gaining 1–2% as renewed expectations of a US interest-rate cut helped soothe nerves after last week’s volatility driven by tech-bubble concerns.

Technical Outlook:

* Nifty index opened on a flattish note and traded within a narrow 100-point band of 26050–26150 for most of the session. Buying interest remained limited, and the index struggled to generate decisive momentum on either side through the first half of the day. However, in the last hour, bears turned active as profit booking from higher levels dragged the index below key support of 26050 and pushed it towards the 25950 zone. With monthly expiry around the corner, the index may continue to witness volatile twoway swings. On the daily chart, Nifty formed a bearish candle and has been forming lower lows for the last three sessions, indicating a temporary cooling-off phase within the broader uptrend.

* Now it has to cross and hold above 26000 zones for an up move towards 26100 then 26250 zones while a hold below the same could see some weakness towards 25850 then 25750 levels

Derivative Outlook

* Nifty future closed negative with losses of 0.44% at 25962 levels. Positive setup seen in AB Capital, Federal Bank, MCX, LTF, Eicher Motors, AU bank, Persistent, Shriram Finance and Canara Bank while weakness in CG Power, Delhivery, Oberoi Realty, JSW Steel, Mazdock, BHEL, Bel, Lupin, Trent, Lodha, Grasim and Colpal.

* On option front, Maximum Call OI is at 26100 then 26200 strike while Maximum Put OI is at 26000 then 25900 strike. Call writing is seen at 26100 then 26200 strike while Put writing is seen at 26000 then 25950 strike. Option data suggests a broader trading range in between 25500 to 26400 zones while an immediate range between 25700 to 26200 levels.

* Coforge – Company has introduced Forge-X, a new engineering and delivery platform designed to support large-scale AI-driven software development. The company says the platform is built on agent-based AI principles and is meant to change how software is planned, built, tested, and maintained across the full development lifecycle.

* Dilip Buildcon – Company has emerged as the lowest bidder (L-1) for a Rs 5,000 crore contract from National Aluminium Company Limited (NALCO) to develop and operate the Pottangi bauxite mines and construct an associated Overland Conveyor Corridor (OLCC) and other allied facilities

* Mahindra Logistics - Company and L'Oréal India have partnered to launch a groundbreaking initiative in Indore, Madhya Pradesh - India's first fully women-operated warehouse. This innovative facility marks a significant step towards gender inclusivity in the logistics and supply chain sector.

* India, Canada Revive Trade Talks With Goal of Doubling Commerce by 2030 - India and Canada have agreed to resume negotiations for a comprehensive economic partnership agreement, marking the first major step toward repairing ties after talks were frozen in 2023 • Embassy Developments to Launch Six New Residential Projects in North Bengaluru – Company will launch six new residential projects valued at Rs10300cr in North Bengaluru, for the remainder of fiscal 2026 ending March next year

* InfoEdge - The Government implemented four labour codes to simplify and streamline labour laws.New labour laws are now in effect. Fixed-term employees receive full benefits and gratuity in 1 year instead of 5 years. These reforms will also ensure free annual health check-ups for workers above 40 years of age, double wages for overtime, full coverage health security for workers in hazardous sectors and guarantee of social justice for workers as per international standards

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