Markets opened the week on a cautious note with benchmark indices trading nearly flat as investors weighed mixed global signals and awaited fresh domestic triggers. The BSE , which closed at ₹83,938.71 on Friday, opened at ₹83,835.10 and was trading at ₹83,959.99, up 21.28 points or 0.03 per cent at 9.55 am. The 50 opened at ₹25,696.85 against its previous close of ₹25,722.10 and was trading at ₹25,748.80, up 26.70 points or 0.10 per cent.
“Markets opened on a mildly cautious note, tracking mixed cues from Asian peers. However, renewed buying interest in PSU banks and realty stocks lent early support, helping indices hold a positive bias in the opening trade and reflecting an undertone of selective optimism among investors,” said Ponmudi R, CEO of Enrich Money, a SEBI registered online trading and wealth tech firm.
Among the top gainers on the Nifty 50, surged 5.19 per cent to ₹787.75, followed by which gained 1.91 per cent to ₹3,553.70. Apollo Hospitals rose 0.68 per cent to ₹7,733.50, while advanced 0.67 per cent to ₹943.30. climbed 0.60 per cent to ₹5,659.00.
On the losing side, led the decliners, falling 2.77 per cent to ₹15,737.00. dropped 1.17 per cent to ₹3,703.00, while declined 0.97 per cent to ₹421.95. Eicher Motors slipped 0.80 per cent to ₹315.20, and Nestle India shed 0.66 per cent to ₹1,263.20.
“The Nifty 50 continues to hold firm above 25,660, a level that has now transitioned from a resistance zone to a strong support base. On the upside, resistance levels are marked at 25,870–25,960–26,050, while a decisive breakout above 26,100 could trigger a new leg of the rally toward 26,500,” Ponmudi added.
The Bank Nifty, which closed at ₹57,776 on Friday, faced repeated resistance near ₹58,500. “Support at 57,500 continues to act as a solid base, maintaining the index’s bullish undertone. A sustained move above 57,800 could reopen upside targets at 58,000–58,300,” said Ponmudi.
Last week saw heavy profit booking with the Nifty ending 0.24 per cent lower while the Sensex declined by 273 points. Among sectors, the PSU Bank index was the top performer, rallying 4.66 per cent, while the Capital Market index was the biggest loser, shedding 1.83 per cent, according to Shrikant Chouhan, Head Equity Research at Kotak Securities.
“We believe that the 25,700–25,650/83,900-83,700 zone will act as a crucial support level for traders, while 26,000/85,000 and 26,100/85,300 could serve as key resistance areas for the bulls,” Chouhan said.
Foreign Institutional Investors extended their selling streak for the third consecutive session, offloading equities worth ₹6,769 crore on October 31. In contrast, Domestic Institutional Investors continued their buying spree for the seventh straight session, purchasing equities worth over ₹7,000 crore.
“Since the FII strategy of selling in India on rallies and moving money to other better performing markets have paid them rich dividends, they can be expected to continue the same strategy now also,” said Dr VK Vijayakumar, Chief Investment Strategist at Geojit Investments Limited.
In commodities, traded with support at ₹1,20,870-₹1,20,480 and resistance at ₹1,21,890-₹1,22,300, while silver had support at ₹1,47,450-₹1,46,750 and resistance at ₹1,49,340-₹1,50,280, according to Rahul Kalantri, VP Commodities at Mehta Equities. Crude oil had support at ₹5,350-₹5,280 and resistance at ₹5,495-₹5,555.
Markets will remain closed on Wednesday for Guru Nanak Jayanti.