Stock Market Open Report November 11, 2026: Sensex Zooms 1,300 pts, Nifty Races Past 25,350 as Oil Remains Soft

Mumbai, November 11: Indian markets roared back from the Diwali-Balipratipada break on Wednesday, with the Sensex surging 1,302.86 points, or 1.61 per cent, to 82,409.51 and the Nifty 50 jumping 331.20 points, or 1.32 per cent, to 25,375.85 by about 9.20 am. It is a strong gap-up start that builds on Monday’s close, with both indices clocking their highest today since February 27. The Nifty is now about 997 points below its 52-week high of 26,373.20. 

The Nifty opened at 25,337.80, a gap-up of 293.15 points over its Monday close of 25,044.65, even bigger than the 284.85-point premium Gift Nifty had signalled in early trade. India VIX, the fear gauge, cooled 2.18 per cent to 17.04. 

Cooling crude is a key driver, with Brent at USD 92.42 a barrel, well below USD 96.93 on Monday, and WTI at USD 86.55. Cheaper oil is a big relief for India, a major importer. 

Asia is strong, with Taiwan up 2.09 per cent, South Korea’s Kospi up 1.47 per cent and Japan’s Nikkei up 0.80 per cent. Wall Street ended lower on Tuesday, but the US VIX eased 2.31 per cent to 19.46. 

US President Donald Trump has said he will hold off on fresh strikes on Iran for now, easing fears of a new escalation in the war. The US naval blockade in the Strait of Hormuz stays, and officials see no imminent deal. 

The buying is broad-based, with only three Nifty 50 stocks in the red and Mahindra & Mahindra (M&M) leading the gainers at 3.13 per cent. Nifty Auto is the top sectoral performer, up 1.53 per cent, while the Nifty Private Bank is up 1.32 per cent at 29,997.75. 

Gainers & Losers 

Mahindra & Mahindra (M&M) led the Nifty 50 gainers, rising 3.13 per cent to a last traded price (LTP) of Rs 3,393.50 from the previous close of Rs 3,290.60, a jump of Rs 102.90. InterGlobe Aviation (INDIGO), the parent of IndiGo, gained 2.62 per cent to Rs 5,572 from Rs 5,430, while Asian Paints (ASIANPAINT) rose 2.29 per cent to Rs 2,566.80 from Rs 2,509.30. SBI Life Insurance Company (SBILIFE) advanced 2.16 per cent to Rs 1,785.80 from Rs 1,748, and Eicher Motors (EICHERMOT) climbed 1.82 per cent to Rs 7,767.50 from Rs 7,629. Larsen & Toubro (LT) rose 1.67 per cent to Rs 4,254.90 from Rs 4,185, Bharti Airtel (BHARTIARTL) gained 1.34 per cent to Rs 2,099.80 from Rs 2,072.10 and Tata Steel (TATASTEEL) added 1.31 per cent to Rs 187.27 from Rs 184.85. Banking heavyweights joined the party, with Axis Bank (AXISBANK) up 1.59 per cent, HDFC Bank (HDFCBANK) up 1.48 per cent and ICICI Bank (ICICIBANK) up 1.44 per cent. 

Only three stocks were in the red, with Hindalco Industries (HINDALCO) down 0.53 per cent at an LTP of Rs 954.90 against the previous close of Rs 960, Nestle India (NESTLEIND) down 0.13 per cent at Rs 1,296.10 against Rs 1,297.80, and Apollo Hospitals Enterprise (APOLLOHOSP) down 0.01 per cent at Rs 8,549 against Rs 8,549.50. 

Broad Markets & Sectoral Indices 

Among broad market indices, the Nifty Smallcap 100 rose 1.11 per cent to 19,398.25 from 19,185.05, the Nifty 500 gained 1.01 per cent to 23,804.50 from 23,567 and the Nifty Midcap 100 added 0.74 per cent to 61,472.30 from 61,022.55, with no broad index in the red. The Nifty Bank rose 1.24 per cent to 60,483.75 and the Nifty PSU Bank also gained 1.24 per cent to 9,015.50. 

Among sectoral indices, the Nifty Auto jumped 1.53 per cent to 28,351.85, the Nifty Financial Services gained 1.44 per cent to 27,780.10 and the Nifty Consumer Durables added 1.34 per cent to 38,767.95. The Nifty Healthcare was the only sectoral index in the red, down 0.02 per cent to 17,406.85 from 17,411, while the Nifty Pharma edged up just 0.04 per cent to 28,906.30 and the Nifty IT rose a modest 0.37 per cent to 32,589.20. 

Oil Prices 

Brent crude rose USD 0.93, or 1.02 per cent, to USD 92.42 a barrel, while West Texas Intermediate (WTI) gained USD 0.51, or 0.59 per cent, to USD 86.55, a modest bounce after Tuesday’s sharp fall. Murban crude was quoted at USD 92.07 on November 10, down USD 7.10, or 7.16 per cent, and the OPEC basket slipped 1.31 per cent to USD 91.99. Mars crude eased 2.55 per cent to USD 117.38 and WTI Midland lost 1.03 per cent to USD 86.48. Natural gas rose 0.30 per cent to USD 3.306, gasoline gained 0.87 per cent to USD 2.632 and heating oil advanced 0.88 per cent to USD 4.167. 

Asian Markets 

Asian stocks were mostly higher on Wednesday morning, with Taiwan up 2.09 per cent at 43,605.79, South Korea’s Kospi up 1.47 per cent at 5,316.23 and Japan’s Nikkei up 0.80 per cent at 60,942.48. Singapore’s Straits Times rose 0.33 per cent to 5,276.02 and Australia’s ASX 200 added 0.16 per cent to 9,144, while Thailand’s SET was flat at 1,496.31. On the weaker side, Hong Kong’s Hang Seng fell 0.74 per cent to 24,375.38, Malaysia lost 0.59 per cent to 1,594.63, and Shanghai and Shenzhen slipped 0.22 per cent and 0.28 per cent. 

US Markets 

US stocks ended lower on Tuesday, with the Nasdaq Composite down 187.26 points, or 0.74 per cent, at 25,065.87 and the S&P 500 down 29.01 points, or 0.38 per cent, at 7,520.93. The Dow Jones Industrial Average fell 157.86 points, or 0.30 per cent, to 52,231.89, while the Nasdaq 100 lost 0.60 per cent and the Russell 2000 small-cap index dropped 0.68 per cent. The NYSE Composite was nearly flat, down 0.04 per cent, transport stocks rose 0.10 per cent and the VIX volatility index fell 2.31 per cent to 19.46. 

Middle East Conflict 

Trump said on Monday he plans to hold off on new strikes against Iran for the time being after appeals from Qatar, Saudi Arabia, the UAE, Bahrain, Kuwait and other regional countries, but he will keep the naval blockade in the Strait of Hormuz, Reuters reported. He met Qatari Prime Minister Sheikh Mohammed bin Abdulrahman Al-Thani, a key mediator, and Vice President JD Vance will also meet him, although Washington has repeatedly rejected Iran’s truce plan, which seeks an end to the US blockade, some sanctions relief and a halt to bombing. Secretary of State Marco Rubio said a diplomatic breakthrough was not imminent, and a senior UAE official, Anwar Gargash, urged the region to prepare for a long period of uncertainty, even as Iraq said it has reached understandings with the US to allow its oil exports through Hormuz via a shipping lane near Oman. Attacks continue, with Iranian media reporting US strikes on Qeshm island overnight and tanker attacks running at the highest rate since the war began on February 28. 

Monday’s Close 

Indian equity benchmarks ended modestly higher on Monday, with the Sensex up 107.25 points, or 0.13 per cent, at 81,106.65 and the Nifty 50 up 58.25 points, or 0.23 per cent, at 25,044.65. Both closed at their highest levels since February 27, after surging about 10.5 per cent over seven sessions through Friday, their longest winning streak this year. Public sector banks led, with the Nifty PSU Bank index jumping 3.7 per cent, the Bank Nifty gaining 1.51 per cent and the Nifty Pharma index rising 1.6 per cent, while the Nifty IT index fell 1.2 per cent, and the Nifty Midcap 100 rose 0.6 per cent, though market breadth stayed negative. State Bank of India (SBIN) rose 2.6 per cent, Trent (TRENT) 2 per cent and NTPC (NTPC) 1.9 per cent, while Tata Steel (TATASTEEL) fell 2.8 per cent and HCL Technologies (HCLTECH) 2.4 per cent. 

Sources

• NSE data
• BSE data
• CNBC
• OilPrice.com
• Reuters