Stock Market Open Report November 6, 2026: Sensex Flatlines, Nifty Edges Down; Benchmarks Avoid Global Meltdown As IT Rises Amid AI Selloff Abroad

Mumbai, November 6: Indian equity benchmarks were mixed on Friday as stocks avoided a global carnage after a six-session rally with investors dumping AI abroad for Indian IT. The Sensex was at 79,344.27, up
34.26 points, or 0.04 per cent, while the Nifty 50 was at 24,484.10, down 52.50 points, or 0.21 per cent, at 9:25 am. 

Brent crude rose 1.65 per cent to USD 99.91 a barrel, reversing part of the steep fall of recent days. Iran has sent the US a nuclear proposal via Qatar, but there is no breakthrough in the war, reported Reuters. 

Asian stocks fell sharply on Friday morning, with Japan’s Nikkei down 5.27 per cent and South Korea’s Kospi down 3.85 per cent. Wall Street ended sharply lower on Thursday, with the S&P 500 down 4.36 per cent and the Nasdaq 100 down 6.36 per cent. 

Broader markets were weaker, with the Nifty Midcap 100 down 1.17 per cent and the Nifty Smallcap 100 down 1.67 per cent. The India VIX, the market’s fear gauge, rose 5.74 per cent to 16.48. 

Information technology stocks led the gainers, with the Nifty IT index up 1.74 per cent to 33,408.10. Tata Consultancy Services (TCS) and Infosys (INFY) gained about 2 per cent each, while Hindalco Industries (HINDALCO) fell 4.32 per cent and the Nifty Metal index lost 2.34 per cent. 

Bharti Airtel (BHARTIARTL) rose 1.85 per cent after a 31 per cent jump in Q2 profit to Rs 8,887.5 crore, and Titan Company (TITAN) gained 1.23 per cent after a 54 per cent rise in profit to Rs 1,722 crore. ONGC (ONGC) fell 1.33 per cent even as its consolidated profit rose 46.9 per cent to Rs 18,534.82 crore. 

Gainers & Losers 

Mahindra & Mahindra (M&M) led the Nifty 50 gainers, rising 2.41 per cent, or Rs 75.50, to Rs 3,203 against its previous close of Rs 3,127.50. Tata Consultancy Services (TCS) gained 2.26 per cent, or Rs 56.40, to Rs 2,552.10 from Rs 2,495.70, Infosys (INFY) rose 2.02 per cent, or Rs 23.60, to Rs 1,191 from Rs 1,167.40, HCL Technologies (HCLTECH) added 1.89 per cent, or Rs 27.10, to Rs 1,457.60 from Rs 1,430.50, and Bharti Airtel (BHARTIARTL) climbed 1.85 per cent, or Rs 38.10, to Rs 2,095 from Rs 2,056.90. 

On the other side, Hindalco Industries (HINDALCO) was the top loser, down 4.32 per cent, or Rs 40.55, at Rs 897.30 against Rs 937.85. Shriram Finance (SHRIRAMFIN) fell 2.78 per cent, or Rs 26.80, to Rs 937.20 from Rs 964, Asian Paints (ASIANPAINT) slipped 2.65 per cent, or Rs 66.80, to Rs 2,457 from Rs 2,523.80, Bajaj Finance (BAJFINANCE) dropped 1.99 per cent, or Rs 21.30, to Rs 1,048.70 from Rs 1,070, and Bharat Electronics (BEL) lost 1.97 per cent, or Rs 7.80, to Rs 387.30 from Rs 395.10. Shriram Finance, Asian Paints and Bajaj Finance had gained 6 per cent, 4.4 per cent and 7.6 per cent on Thursday. 

Broad Markets & Sectoral Indices 

No size-based broad index was in the green, and the Nifty Top 10 Equal Weight (up 0.35 per cent to 8,948.85), the Nifty Top 20 Equal Weight (up 0.32 per cent to 9,096.70) and the Nifty Top 15 Equal Weight (up 0.31 per cent to 10,048.60) were the best performers. The Nifty Smallcap 100 fell 1.67 per cent to 18,812.20, the Nifty Smallcap 50 lost 1.61 per cent to 9,544.35 and the Nifty Smallcap 250 declined 1.46 per cent to 17,280.55. Among sectoral indices, the Nifty IT rose 1.74 per cent to 33,408.10, the Nifty Media gained 0.17 per cent to 1,699.15 and the Nifty Private Bank added 0.14 per cent to 28,623.35. The Nifty Metal fell 2.34 per cent to 12,300.15, the Nifty Energy lost 1.69 per cent to 36,260.60 and the Nifty Chemicals declined 1.39 per cent to 27,275.20. 

Oil Prices 

Brent crude rose USD 1.62, or 1.65 per cent, to USD 99.91 a barrel, while West Texas Intermediate (WTI) gained USD 1.13, or 1.25 per cent, to USD 91.65. Murban crude was quoted at USD 95.89, down USD 5.00, or 4.96 per cent, on Thursday’s data, and the OPEC basket stood at USD 96.87, down 6.43 per cent a day earlier. Crude had plunged in recent days as traders wagered that President Donald Trump, chastened by voters, may be less likely to restart strikes on Iran, Reuters reported, and Brent is still about 15 per cent below the six-month high of USD 118. The rebound is a concern for India, a major crude importer, as higher prices can widen the import bill, stoke inflation and pressure the rupee. 

Asian Stocks 

Asian stocks fell sharply on Friday morning after Wall Street’s rout. Japan’s Nikkei plunged 5.27 per cent to 57,858.61, South Korea’s Kospi dropped 3.85 per cent to 5,176.68 and Taiwan lost 3.51 per cent to 40,117.44. Singapore’s Straits Times fell 2.36 per cent to 5,171.49, Shenzhen slid 1.78 per cent to 11,266.80, Australia’s ASX 200 declined 1.07 per cent to 8,968.10, Shanghai shed 1.00 per cent to 3,653.16 and Hong Kong’s Hang Seng slipped 0.53 per cent to 24,666.69. 

US Markets 

Wall Street ended sharply lower on Thursday in a sell-off led by stocks tied to AI data centres, with the S&P 500 down 334.89 points, or 4.36 per cent, to 7,353.73, its worst day since April 2025, according to the Associated Press. The Dow Jones Industrial Average fell 1,833.06 points, or 3.44 per cent, to 51,523.06, while the Nasdaq 100 sank 6.36 per cent and the Russell 2000 lost 4.45 per cent. The VIX, Wall Street’s fear gauge, surged 69.66 per cent to 28.18, erasing the previous session’s gains. 

Middle East Conflict 

Iran has sent the US a nuclear proposal via Qatar, to be discussed only after Washington meets Tehran’s seven demands, a senior Iranian official told Reuters on Thursday, adding that the US was reviewing it. Security chief Mohsen Rezaei said Iran would neither open the Strait of Hormuz nor hold negotiations until those conditions, which include lifting US sanctions, releasing frozen assets and war reparations, are met, while Washington says nuclear issues must be part of any initial talks. Iran reported three more tankers damaged in the Strait of Hormuz on Thursday, with its Revolutionary Guards saying two struck naval mines and another caught fire, and UKMTO has logged incidents on at least five vessels since Sunday. Mediators fear the war could reignite after the US midterms, with Trump declining to rule out resuming combat operations and Iran planning wider retaliation, while Iranian officials have met Qatari mediators since last week without any announced breakthrough. 

Thursday’s Close 

The Sensex jumped 2,008.61 points, or 2.60 per cent, to 79,310.01 and the Nifty 50 gained 576 points, or 2.40 per cent, to 24,536.60 on Thursday, a sixth straight gain and its first close above 24,500 since August 7. Both indices have risen more than 8 per cent in six sessions, the longest winning streak in a year, but remain down 6.9 per cent and 6.2 per cent for 2026. Breadth was firmly positive, with 2,868 shares advancing, 1,384 declining and 169 unchanged on the BSE, the Nifty Midcap index rose 1.4 per cent and the Nifty Smallcap index 1.1 per cent, and 14 of 16 sectoral indices ended higher, led by Nifty Auto, up 4.14 per cent, and Nifty Financial Services, up 4 per cent. Foreign portfolio investors bought shares worth Rs 7,284 crore on Wednesday, the biggest single-day purchase since October 2025 and a fourth straight session of net buying, as Brent crude slumped 8.7 per cent to a two-month low after the Democrats won both chambers of the US Congress. 

Sources

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