Nifty 50 opens from 23,053.10 after a 0.51% gain

The session

Where the market stands

Key drivers

Market breadth

Currency, commodities & rates

Currency, commodities and rates

• USD/INR: 94.95, rupee firmer by 0.27% on the session
• India VIX: 15.30 (+1.2%)
• Gold (rupee terms): -0.98% on the session, -0.6% over five sessions

Key drivers

Markets

• Stocks in news: Reliance Industries, Jio Platforms, M&M, CDSL, ITC, NTPC, IOCL and Hero MotoCorp. Indian equity benchmarks closed higher on Friday, with significant gains recorded in the Nifty 50 and BSE Sensex. Several major companies, including Reliance Industries and Jio Platforms, published positive quarterly earnings results. (Economic Times Markets)
• Nifty IT’s 18% rally may mark a durable leadership cycle; 35,000 next: LKP's Vatsal Bhuva. Nifty IT’s 18% October rally could signal a sustained leadership cycle, supported by improving momentum, a bullish RSI crossover and capital rotation from global AI stocks. Analyst Vatsal Bhuva sees the index targeting 35,000. (Economic Times Markets)
• Nifty faces key 23,200 hurdle, analysts remain cautious. Nifty has recently surged by nearly 2%, approaching the resistance level at 23,200. Analysts recommend building long positions to capitalize on a potential breakout. Support is set between 22,600 and 22,800, serving as a buffer. (Economic Times Markets)
• Ahead of Market: 10 things that will decide stock market action on Monday. Sensex and Nifty ended the week up about 0.5%, supported by resilient large-cap, IT and healthcare stocks. However, midcap and smallcap indices fell as much as 2% amid rising crude oil prices, inflation concerns and a global technology sell-off. (ET Stocks)

Read more Stocks in news: Reliance Industries, Jio Platforms, M&M, CDSL, ITC, NTPC, IOCL and Hero MotoCorp · Nifty IT’s 18% rally may mark a durable leadership cycle; 35,000 next: LKP's Vatsal Bhuva · Nifty faces key 23,200 hurdle, analysts remain cautious · Ahead of Market: 10 things that will decide stock market action on Monday

Economy & policy

Economy and policy

• Sebi bars EKI Energy, MD Dabkara, others from market; imposes penalty. Markets regulator Sebi has barred EKI Energy Services Ltd and its Managing Director Manish Kumar Dabkara from the securities market for two months and 12 months, respectively, for misrepresenting financial statements of the carbon credits trading firm and… (Business Standard Mkts)
• 19% Credit vs 10% GDP: Prof Flags Inflation>Rupee Risk, Urges RBI To Rein In Bank Credit. Bank credit growth has reached 19.1%, significantly exceeding nominal GDP growth of approximately 10-11%. ISB professor Prasanna Tantri has warned that the widening gap could fuel inflationary pressures. (NDTV Profit)
• Sebi working to delist companies with no economic activity: Chairman. The Securities and Exchange Board of India (SEBI) is working towards removing companies with no economic activity from the stock exchanges, as their continued presence in the listed space poses a potential risk to investors, a top official said. (Business Standard Mkts)
• Sebi extends digital accessibility compliance deadline to January 31. Sebi has extended the deadline for regulated entities to complete key digital accessibility compliance requirements to January 31 next year, following requests from market participants. (Business Standard Mkts)

Read more Sebi bars EKI Energy, MD Dabkara, others from market; imposes penalty · 19% Credit vs 10% GDP: Prof Flags Inflation>Rupee Risk, Urges RBI To Rein In Bank Credit · Sebi working to delist companies with no economic activity: Chairman · Sebi extends digital accessibility compliance deadline to January 31

Companies

• Banks report 10-50% gains in productivity, turnaround time and costs from AI-led initiatives. Several banks in India have implemented artificial intelligence initiatives that have increased productivity and efficiency significantly. Notably, Kotak Mahindra Bank has improved its handling of corporate servicing volumes by 20-30% with the same workforce. (Economic Times Markets)
• IOC, BPCL, HPCL clock Rs 30,106 cr Q2 profit, nearly 39 pc of last year's annual earnings. In the third quarter, spanning July to September, India's three major state-run fuel retailers announced a combined net profit of Rs 30,106 crore, reversing a previous loss of Rs 18,150 crore. (ET Stocks)
• ITC Q2 Results Preview: Profit seen falling nearly 30% YoY as cigarette tax hikes bite. ITC is expected to report a weak Q2, with brokerages forecasting an 8% decline in cigarette volumes and a drop of up to 29% in cigarette operating profit following tax hikes. Nuvama expects consolidated revenue to fall 3% YoY and EBITDA to decline 20%. (Economic Times Markets)
• Bank of Baroda plans overseas expansion, targets wholesale banking in developed markets. India's second-largest public sector lender is weighing retail banking in emerging economies as it builds on strong international growth; it also expects margins to improve in the December quarter. (LiveMint Companies)

Read more Banks report 10-50% gains in productivity, turnaround time and costs from AI-led initiatives · IOC, BPCL, HPCL clock Rs 30,106 cr Q2 profit, nearly 39 pc of last year's annual earnings · ITC Q2 Results Preview: Profit seen falling nearly 30% YoY as cigarette tax hikes bite · Bank of Baroda plans overseas expansion, targets wholesale banking in developed markets

Companies

New issues

• Global beverage majors advance India IPO plans, from DRHP filing to board approval. Carlsberg has filed an updated draft red herring prospectus for its potential IPO in India. Pernod Ricard continues to prepare for its proposed listing while awaiting board approval for its Indian business. (Economic Times Markets)
• IPO Calendar: Primary market cools after Jio frenzy, but 13 listings lined up. India’s IPO market is set for a quiet week, with just one fresh issue worth Rs 56.68 crore opening for subscription and no mainboard launches. Vedant Poly Fabs will be the only new IPO, while 13 companies are expected to list. (Economic Times Markets)
• IPO Buzz: BLS Polymers, Four Other Companies To Get Listed On BSE. NSE This Week - Check Dates. The five IPOs represent a combined issue size of Rs 2,580.99 crore. EAAA India Alternatives accounts for the largest share at Rs 1,200 crore, followed by SFC Environmental Technologies at Rs 667.53 crore. (NDTV Profit)
• Bonus share: Just single issue with record date this week: Pharma firm's free shares with 68% returns since IPO; ratio. Concord Biotech has set November 4 as the record date for its 1:1 bonus issue. Investors must hold shares by November 3 to qualify. The stock closed 1.25% higher at ₹1,245.30 on October 30, though it has fallen about 14.28% over the past year. (LiveMint Markets)

Read more Global beverage majors advance India IPO plans, from DRHP filing to board approval · IPO Calendar: Primary market cools after Jio frenzy, but 13 listings lined up · IPO Buzz: BLS Polymers, Four Other Companies To Get Listed On BSE. NSE This Week - Check Dates · Bonus share: Just single issue with record date this week: Pharma firm's free shares with 68% returns since IPO; ratio

Currency, commodities & rates

World

• Solex Energy eyeing US market for international debut, says chairman. Eyeing a footprint in the global renewable energy market, homegrown Solex Energy plans to establish solar module and cell manufacturing capacities in the US as part of its USD 1.5 billion investment roadmap through 2030. (BS Companies)
• Gold, silver rates approaching Dec 2025 levels; energy prices, inflation, Fed weighing on investor sentiments - Details. Gold and silver prices fell sharply in India on November 1, with gold dropping ₹3,200 to ₹1,42,000 per 10 grams and silver declining to ₹1,86,000 per kilogram. Check key factors which are dragging gold and silver prices. (LiveMint Markets)
• Banks are safe; AI bubble is the risk for global markets: Julius Baer CEO Stefan Bollinger. Stefan Bollinger highlights the potential risk of an AI bubble affecting global markets significantly. He notes that India's equity valuation correction is healthy, maintaining the country's growth story. (Economic Times Markets)

Read more Solex Energy eyeing US market for international debut, says chairman · Gold, silver rates approaching Dec 2025 levels; energy prices, inflation, Fed weighing on investor sentiments - Details · Banks are safe; AI bubble is the risk for global markets: Julius Baer CEO Stefan Bollinger

What matters next