Nifty 50 closed at 25,030.35, up 2.01%; Banks leads, Paints & Building Materials lags

The session

Key drivers

Market breadth

Currency, commodities & rates

Currency, commodities and rates

• USD/INR: 93.91, rupee firmer by 0.64% on the session
• India VIX: 17.47 (+12.1%)
• Gold (rupee terms): -1.63% on the session, +0.8% over five sessions

Key drivers

Markets

• Sensex stocks Adani Ports, TechM at new highs; Eternal, ICICI Bk near peaks. In the past two weeks, the market price of Eternal, the parent firm of food-delivery marketplace Zomato and quick commerce platform Blinkit surged 18% on the BSE. (Business Standard Mkts)
• Sensex up 6,064 pts in six days; eyes strongest pre-Diwali rally in 35 yrs. The BSE Sensex and NSE Nifty rallied 8.3% and 8.1% in the last six trading sessions, and are on course to log the best 7-day pre-Diwali rally since the inception of Muhurat trading on the NSE in 1992. (Business Standard Mkts)
• Sensex Today | Nifty 50 | Stock Market Live Updates: Sensex trades choppy, Nifty below 24,500; Power Grid drops 3%, M&M up 2%. (ET Stocks)
• Nifty, Sensex escape Wall Street, Asia rout that wipes out over $2 trillion; IT stocks rally; here's why. The BSE Sensex was quoting at 79,460.30, up 150.29 points or 0.19 per cent. Nifty was down 20.50 points, or 0.08 per cent, at 24,516.10. (Business Today Mkts)

Read more Sensex stocks Adani Ports, TechM at new highs; Eternal, ICICI Bk near peaks · Sensex up 6,064 pts in six days; eyes strongest pre-Diwali rally in 35 yrs · Sensex Today | Nifty 50 | Stock Market Live Updates: Sensex trades choppy, Nifty below 24,500; Power Grid drops 3%, M&M up 2% · Nifty, Sensex escape Wall Street, Asia rout that wipes out over $2 trillion; IT stocks rally; here's why

Economy & policy

Economy and policy

• Sebi allows mutual fund schemes to net cash market fund settlements. Sebi’s move changes the treatment of fund obligations for eligible mutual fund transactions, without altering the requirement for securities to be settled on a gross basis. (LiveMint Markets)
• 'No reason to go elsewhere': Zerodha CEO Nithin Kamath welcomes SEBI's NRI KYC changes. Zerodha CEO Nithin Kamath welcomed SEBI’s eased digital KYC rules for overseas investors, saying eligible NRIs and OCIs can now complete account opening from abroad in days instead of weeks. (LiveMint Markets)
• Nithin Kamath Says No Reason For NRIs To Invest Elsewhere, As SEBI Simplifies Account Opening. From December 3, NRIs and OCIs living in FATF-compliant countries will be able to complete digital KYC entirely from abroad. Something that took weeks can now be done in 2-3 days. (NDTV Profit)
• Sebi eases investor accreditation norms, lets fund managers certify status. Sebi has allowed AIF, SIF and portfolio managers to certify investor accreditation, simplifying the process while retaining verification and record-keeping requirements. (Business Standard Mkts)

Read more Sebi allows mutual fund schemes to net cash market fund settlements · 'No reason to go elsewhere': Zerodha CEO Nithin Kamath welcomes SEBI's NRI KYC changes · Nithin Kamath Says No Reason For NRIs To Invest Elsewhere, As SEBI Simplifies Account Opening · Sebi eases investor accreditation norms, lets fund managers certify status

Companies

• NSE Market Cap Crosses $50 Billion As Stock Price Jumps Over 3%. At today's highest price, the market capitalization of recently-listed NSE surpassed $50 billion, or Rs 4.84 lakh crore, making it the seventh biggest listed company, surpassing the giants like Infosys, Hindustan Unilever, LIC and ITC. (NDTV Profit)
• ICICI Bank extends rally, soars 10% in 4 days; market cap nears ₹11 trn. ICICI Bank's market cap touched ₹10.96 trillion on the BSE in intraday trade on Friday, BSE data shows. (Business Standard Mkts)
• BSE Capital Goods index slips 4%; Thermax, Apar, Astral tank up to 20%. At 12:24 PM on Friday, the BSE Capital Goods index was the top loser among sectoral indices down 3.3 per cent, while the BSE Sensex gained 0.84 per cent. (Business Standard Mkts)
• Great Diwali stock hunt: HAL, Eternal, 5 other stocks with upside of up to 75%. Kotak Neo has spotlighted seven stocks that show considerable growth potential, given India's stable economic forecast. APL Apollo Tubes and Eternal Limited are highlighted for their promising growth trajectory in the coming years. (Economic Times Markets)

Read more NSE Market Cap Crosses $50 Billion As Stock Price Jumps Over 3% · ICICI Bank extends rally, soars 10% in 4 days; market cap nears ₹11 trn · BSE Capital Goods index slips 4%; Thermax, Apar, Astral tank up to 20% · Great Diwali stock hunt: HAL, Eternal, 5 other stocks with upside of up to 75%

Companies

New issues

• Maxwell Engineering shares list at 90% premium. Here's how HGS, other 2 SME issues debuted. Maxwell Engineering Solutions, HGS (India), Vectras Enprocon, and Johnsoncab Electricals recently marked their presence on the stock exchange, collectively raising around Rs 201 crore via their IPOs. (ET Stocks)
• Coal India's IPO-bound arms see sharp decline in coal e-auction premiums. E-auction premiums at Coal India's MCL and SECL declined sharply between FY24 and FY26 despite higher coal volumes being offered, as booking rates weakened at both subsidiaries (BS Companies)
• AI backlash could threaten Anthropic IPO timing, potential investors say. Investors are pushing for a more attractive valuation to commit to the offering, with some viewing the recently discussed $1.5 trillion valuation as being at the high end of expectations, the people told Reuters. (Economic Times Markets)
• Sitaram Denims India files IPO papers with Sebi. Sitaram Denims India Ltd plans to launch an initial public offering with two components. The IPO includes a fresh issue of equity shares and an offer for sale by promoters. (Economic Times Markets)

Read more Maxwell Engineering shares list at 90% premium. Here's how HGS, other 2 SME issues debuted · Coal India's IPO-bound arms see sharp decline in coal e-auction premiums · AI backlash could threaten Anthropic IPO timing, potential investors say · Sitaram Denims India files IPO papers with Sebi

Currency, commodities & rates

World

• 'Anti-AI' trade puts Indian stocks ahead of Asian peers amid global selloff. Indian equities are headed for their biggest weekly gain in over five years, as a global selloff in AI stocks, falling crude oil prices and improving earnings prospects boost the market's appeal (Business Standard Mkts)
• India bonds emerge as top Asian performers as oil, Treasury yields decline. This week, Indian government bonds saw a positive trend following a Democratic win in the U.S. midterm elections. The reduction in oil prices and Treasury yields eased rupee pressure, boosting investor confidence. (Economic Times Markets)
• India-US trade deal: Democrats may challenge Trump's tariff policies, but will exporters get relief?. The Democratic takeover of the US Congress could intensify scrutiny of Trump's trade and tariff policies, but immediate relief for Indian exporters remains uncertain. (Business Today Mkts)
• 'Democrats sceptical of Trump's Pakistan tilt': US expert sees stronger India ties after midterms. There's been a bipartisan interest in continuing the India-US relationship, and you're going to continue to see the Democrats lean in in terms of the Quad relationships, says Vinay Singh, Managing Director of Primus Partners USA (Business Today Mkts)

Read more 'Anti-AI' trade puts Indian stocks ahead of Asian peers amid global selloff · India bonds emerge as top Asian performers as oil, Treasury yields decline · India-US trade deal: Democrats may challenge Trump's tariff policies, but will exporters get relief? · 'Democrats sceptical of Trump's Pakistan tilt': US expert sees stronger India ties after midterms

What matters next