Sensex drops 50 pts, Nifty below 25,900 as Bihar election results spark street caution; IT, metal stock tumble

Market Overview - The S&P BSE Sensex decreased by 0.5% to 84,317, down 420 points, while the NSE Nifty 50 fell by 0.4%, or 110 points, to 25,768 at the open [1] - By 9:51 AM, BSE Sensex was trading 350 points or 0.44% lower at 84,111, and Nifty50 dropped 111 points to 25,769 [1] - Tata Motors, Infosys, Tata Steel, ITC, Tech Mahindra, and Maruti were the main contributors to the losses, each falling between 1-3% [1] Company Performance - Tata Motors (Commercial Vehicles) shares fell over 3% after reporting a consolidated net loss of ₹867 crore for Q2, contrasting with a net profit of ₹498 crore in the same quarter last year [2] - The market reaction to the election results is expected to be temporary, with long-term trends driven by fundamentals and earnings growth [6] Institutional Investment - Foreign Institutional Investors (FIIs) sold equities worth over ₹384 crore on November 13, while Domestic Institutional Investors (DIIs) were net buyers amounting to ₹3,092 crore [8] Global Market Impact - Wall Street experienced significant declines, with the S&P 500 falling 1.66%, the Nasdaq dropping 2.29%, and the Dow Jones Industrial Average decreasing by 1.65% [9] - Gold prices retreated by 1% after reaching a three-week high, with spot gold down 1.1% at $4,151.86 per ounce [10] - Oil prices remained steady after a previous 4% drop, with Brent crude futures rising by 0.5% to $63.01 per barrel [11]