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Late recovery lifts Sensex, Nifty into green terrain amid easing crude prices
Nov-09-2026

Indian markets recovered from their intra-day losses to end Monday’s range-bound session in positive territory, as buying interest in banking, PSU and healthcare stocks outweighed weakness in telecom and technology shares. Markets initially witnessed selling pressure as investors booked profits following the previous week’s sharp rally. However, easing crude oil prices provided some support to domestic market sentiment. Brent crude prices slipped below the $97 per barrel mark, while WTI crude traded below $90 per barrel, after the US President indicated that renewed US attacks on Iran were ‘highly unlikely’.

Some of the important factors in trade:

India, EU conclude negotiations on Euro 93.5 billion Horizon Europe Programme: India and the European Union (EU) have finalised negotiations on India’s association with Horizon Europe, the Euro 93.5 billion European Union research and innovation programme. The development comes weeks before India and the 27-nation bloc are set to seal a landmark free trade agreement.

India explores business, investment opportunities with Hungary during high-level meetings: India and Hungary are exploring avenues to expand trade, investment and industrial partnerships across several high-potential sectors. In this regard, Minister of State for Commerce and Industry, and Electronics and Information Technology, Jitin Prasada, visited Hungary from November 4-6, 2026. 

India's forex reserves drop by $2.69 billion to $717 billion: Traders overlooked that RBI said India's forex reserves dropped by $2.691 billion to $717.056 billion during the week ended October 30. In the previous week, the forex kitty had reduced by $1.269 billion to $719.748 billion. 

Auto stocks remain in focus: Federation of Indian Automobile Dealers' Association (FADA) in its data has showed that India’s electric vehicle (EV) sales increased 45 per cent to 3,54,625 units in October 2026 as compared to 2,44,764 units in October 2025, led by electric two-wheeler sales. 

Global front: European markets were trading higher on Monday, led by banks as dealmaking involving Credit Agricole and Banco BPM and strong results from Italy's UniCredit lifted the sector. Asian markets ended mostly in green amid a fall in oil prices offering some comfort to world markets.

Finally, the BSE Sensex rose 107.25 points or 0.13% to 81,106.65 and the CNX Nifty was up by 58.25 points or 0.23% to 25,044.65.

The BSE Sensex touched high and low of 81339.41 and 80519.31, respectively. There were 12 stocks advancing against 18 stocks declining on the index.

The top gaining sectoral indices on the BSE were Bankex up by 1.41%, PSU up by 1.29%, Healthcare up by 1.10%, Realty up by 0.66% and Power up by 0.57%, while Telecom down by 1.54%, IT down by 1.31%, TECK down by 1.19%, Metal down by 0.70% and Basic Materials down by 0.56% were the top losing indices on BSE.

The top gainers on the Sensex were State Bank of India up by 2.43%, Trent up by 2.13%, Larsen & Toubro up by 1.96%, NTPC up by 1.59% and HDFC Bank up by 1.52%. On the flip side, HCL Technologies down by 2.49%, Tata Steel down by 2.43%, Ultratech Cement down by 2.00%, Bajaj Finance down by 1.83% and Tech Mahindra down by 1.75% were the top losers.

Meanwhile, Union Minister G Kishan Reddy has said that India aims to increase its annual steel production to 300 million tonnes by 2030 and 500 million tonnes by 2047. He noted that India currently produces around 168 million tonnes of steel annually, and stressed that higher production would help make steel affordable for the common man.  

On growing steel demand, he said that the growing demand for steel is linked to the aspirations of people across income groups to own a house, with steel being an essential component of construction. He also emphasized that affordable availability of steel and cement is crucial to fulfilling people’s aspirations whether it is a house built under the Pradhan Mantri Awas Yojana or an individual home.  Besides, he highlighted governments efforts to increase iron ore production across the country to ensure adequate raw material availability for the steel industry. 

He added that Goa could play an important role in this effort by expanding its mining activities, subject to applicable Supreme Court restrictions. Moreover, he called for the utilisation of old mining dumps in Goa, pointing out that considerable quantities of iron ore could still be extracted from them. He said that the central government will extend all possible assistance to the Goa government to increase mining activities, generate employment and strengthen the state's contribution to the country's mineral and steel sector.

CNX Nifty touched high and low of 25084.05 and 24838.75, respectively. There were 21 stocks advancing against 28 stocks declining, while 1 stock remained unchanged on the index.

The top gainers on Nifty were State Bank of India up by 2.56%, Trent up by 2.02%, Nestle India up by 1.91%, NTPC up by 1.87% and Larsen & Toubro up by 1.82%. On the flip side, Tata Steel down by 2.81%, HCL Technologies down by 2.43%, Ultratech Cement down by 1.79%, ITC down by 1.64% and Bajaj Finance down by 1.56% were the top losers.

European markets were trading higher; UK’s FTSE 100 increased 75.57 points or 0.71% to 10,749.51, France’s CAC rose 45.6 points or 0.56% to 8,184.60 and Germany’s DAX gained 234.24 points or 0.91% to 26,054.60.

Asian markets settled mostly higher on Monday as AI stocks rebounded from last week’s global sell-off which was triggered by regulatory fears over data centers, energy use, and rising development costs. Sentiments improved further after US President Donald Trump stated that renewed US military strikes on Iran are highly unlikely as long as ongoing negotiations make progress toward an agreement on Iran's nuclear program and the reopening of the Strait of Hormuz. Meanwhile, investors braced for key US inflation readings and earnings from major AI firms, including CoreWeave, Cisco and Applied Materials, due later in the week. 

Chinese markets gained after the release of October inflation data and a renewed pledge from Beijing to stabilize capital markets. Japanese market rallied, bouncing back sharply after a heavy technology sell-off pushed benchmark indices into a technical bear market late last week. However, South Korea’s Kospi declined amid market jitters surrounding Nvidia Corp after the company announced an internal investigation into allegations that CEO Jensen Huang was targeted by a suspected Chinese spy. The stock markets of Singapore and Malaysia were closed today in observance of the Deepavali (Diwali) public holiday.

Asian Indices

Last Trade            

Change in Points

Change in %      

Shanghai Composite

3,660.79

11.62

0.32

Hang Seng

24,448.95

-32.91

-0.13

Jakarta Composite

5,073.77

23.34

0.46

KLSE Composite

--

--

--

Nikkei 225

58,775.50

1,340.73

2.33

Straits Times

--

--

--

KOSPI Composite

5,018.85

-40.84

-0.81

Taiwan Weighted

41,661.70

1,960.06

4.94
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