India’s benchmark indices opened the first trading session of November largely unchanged, extending their consolidation trend after a strong rally.
The Nifty 50 started the day at 25,696.85, slipping 25.25 points (0.10%), while the BSE Sensex opened at 83,835.10, down 103.61 points (0.12%).
Sectoral performance on the NSE was mixed. Nifty PSU Bank led early gains with a 0.62% rise, while Auto inched up 0.15%. Meanwhile, IT, FMCG, and Media sectors opened lower.
Sunil Gurjar, SEBI-registered analyst and Founder of Alphamojo Financial Services, noted that the market has been moving sideways after a sustained uptrend.
“The Nifty 50 has remained flat for consecutive weeks after a strong uptrend, indicating a consolidation phase. The price is currently near the resistance level of 25,265, and a breakout above this level would signal continuation of the uptrend and a potential new all-time high,” he said.
Investors will be watching key corporate earnings today, including results from 3M India, ACME Solar Holdings, Ambuja Cements, AWL Agri Business, Bharti Airtel, Max Estates, Power Grid Corporation of India, Tata Consumer Products, TBO TEK, and Titan Company.
