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Sensex climbs over 300 points, Nifty tops 25,600 as earnings boost investor mood
The Economic Timesยท 2025-11-06 04:14
Market Performance - The NSE Nifty 50 opened at 25,623.90, up 0.10%, while the BSE Sensex started at 83,788.18, gaining 329.03 points or 0.39% [1][15] - Broader markets were subdued, with mid-cap and small-cap stocks trading largely flat [2][15] - Sun Pharmaceutical Industries rose 1.5%, and Britannia Industries surged 4% after reporting higher second-quarter profits [2][15] Institutional Activity - Foreign Institutional Investors (FIIs) sold equities worth over Rs 1,067 crore on November 4, while Domestic Institutional Investors (DIIs) were net buyers of Rs 1,203 crore [11][15] - The sustained selling by FIIs, totaling Rs 15,336 crore in the last five days, is expected to weigh on markets [7][15] Global Market Influence - Asian shares rebounded, with Japan's Nikkei climbing 1.5% and South Korea's Kospi jumping over 2% due to stronger-than-expected U.S. economic data [8][9][15] - U.S. Treasury yields held overnight gains, with traders reducing bets on a Federal Reserve rate cut next month, keeping the dollar near a five-month high [9][15] Economic Indicators - U.S. services activity reached an eight-month peak in October, and private payrolls rose by 42,000, exceeding expectations [9][15] - Oil prices remained steady, with Brent crude futures at $63.54 per barrel and U.S. West Texas Intermediate at $59.60 [12][15] Currency Movement - The Indian rupee strengthened by 8 paise to 88.62 against the U.S. dollar, supported by a softer dollar and lower global crude prices [13][15]