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Below the Quote on Daily Market Commentary for November 06th 2026 by Siddhartha Khemka - Head of Research, Wealth Management, Motilal Oswal Financial Services Ltd

Indian equities are expected to maintain a positive bias in the near term, supported by strong FII inflows, currency appreciation and resilient domestic fundamentals. Nifty extended its winning streak to seven consecutive sessions, gaining 8.6% in the first week of November. FIIs made net purchases of Rs 14,975 crore on Thursday, their largest single-day buying in over a year, while the rupee strengthened to a six-month high against the US dollar (93.9/USD). India's relative resilience amid the sharp sell-off across global technology stocks has also attracted investor interest, with its relatively limited exposure to the AI trade benefiting from a shift in global allocations away from AI-heavy markets. Expectations of a more measured US approach to trade and tariffs following the midterm elections have further supported sentiment. Meanwhile, diplomatic efforts to end the West Asia conflict are underway, although no formal agreement has been reached, keeping developments around the Strait of Hormuz in focus. Improving Q2FY27 earnings and healthy domestic demand continue to underpin the domestic outlook. The Nifty 50 closed 2% higher at 25,030, reclaiming the 25,000 mark for the first time in over eight months. However, broader markets underperformed, with the Nifty Midcap 100 ending flat, while the Nifty Smallcap 100 declined 0.8%. Among sectors, Private Banks, Consumer Durables and Pharma led the gains, while Media was the major laggard. Brent crude traded near US$100/bbl. On the domestic policy front, the government approved 12 proposals worth over Rs7,500 crore under the Electronics Components Manufacturing Scheme, covering materials and capital goods. It also launched the Semicon 2.0 portal under the Semicon India Programme to strengthen India's domestic electronics and semiconductor manufacturing ecosystem. Investors will track the Q2 results Divi's Laboratories, Tata Steel, HBL Engineering and Tata Chemicals among others over the weekend, along with Park Medi World, R M Drip and Sprinkler Systems, Nicco Parks and Resorts and Medico Remedies are scheduled to report their results on Monday, among others

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