Stock Market Open Report November 9, 2026: Sensex, Nifty Slip in Morning Trade as Profit-Booking Hits IT Stocks; Investors Stay Cautious

Mumbai, November 9: Indian equity benchmarks traded lower on Monday as profit-booking after a sharp rally and a cautious investor mood weighed on sentiment. The Sensex was at 80,798.83, down 200.57 points, or 0.25 per cent, at 10:03 am, while the Nifty 50 was at 24,928.25, down 58.15 points, or 0.23 per cent, at 10:04 am. Indian equity benchmarks, the Nifty 50 and BSE Sensex, witnessed mild profit-booking during Sunday’s special Diwali trading session, taking a breather after a seven-session rally. The broader Nifty 500 was down 0.18 per cent at 23,446.45. 

The Sensex opened 60 points, or 0.07 per cent, lower at 80,939 as indices took a breather after a sharp run-up. The Nifty opened at 25,076.40 and touched a high of 25,084.05 before sliding to a low of 24,874.85, slipping back below the 25,000 mark. Nifty Bank, up 0.50 per cent at 59,142.40, limited the damage. 

Profit-booking was the main trigger. The Nifty ended last week with gains of around 8.58 per cent. In the seven sessions to Friday, the Sensex rallied 7,781.99 points, or 10.62 per cent, while the Nifty gained 2,331.5 points, or 10.27 per cent. Both indices gave up early gains in Sunday’s Muhurat session, with the Sensex falling 28.62 points and the Nifty 43.95 points. The Nifty has risen 10.66 per cent in 30 days but is still 5.5 per cent below its 52-week high of 26,373.20. 

IT stocks are dragging. The Nifty IT index fell the most, down 1.7 per cent, and HCL Tech, Tech Mahindra, Infosys and TCS were the top four Sensex losers at the open. The index had gained 13.51 per cent in 30 days, and traders are now cashing in on the stocks that led the rally. 

Investors are also cautious. India VIX, the fear gauge, stood at 17.53, down 4.88 per cent from 18.43 but well above 14.38 a week ago. Traders are assessing the US-Iran talks and the Nifty’s ability to hold near 25,000 before adding fresh positions, and the VIX is still 40 per cent above its level a month ago. 

On the bright side, oil prices are easing, with Brent crude down 0.25 per cent at $98.07 a barrel. Asian stocks rebounded, led by the Nikkei, up 3.44 per cent, and the Kospi, up 1.81 per cent, and hopes persist for a deal to end the Iran war. Foreign institutional investors bought equities worth ₹13,749.82 crore on Friday, which has kept the dip shallow. Gains of more than 0.8 per cent in State Bank of India, HDFC Bank and ICICI Bank also offered support. 

Gainers & Losers 

Only 15 of the 50 Nifty stocks were in the green. State Bank of India (SBIN) led the gainers, rising 2.48 per cent, or ₹25.20, to a last traded price (LTP) of ₹1,041.20 from the previous close of ₹1,016. Apollo Hospitals Enterprise (APOLLOHOSP) gained 1.22 per cent, or ₹103, to ₹8,533 from ₹8,430, and HDFC Bank (HDFCBANK) rose 1.03 per cent, or ₹8.05, to ₹792.15 from ₹784.10. Dr Reddy’s Laboratories (DRREDDY) added 0.96 per cent, or ₹13.10, to ₹1,383.10 from ₹1,370, while ICICI Bank (ICICIBANK) climbed 0.86 per cent, or ₹13.50, to ₹1,578.50 from ₹1,565. 

On the losing side, HCL Technologies (HCLTECH) fell 1.86 per cent, or ₹26.80, to an LTP of ₹1,415.20 from ₹1,442, and Bharti Airtel (BHARTIARTL) slipped 1.79 per cent, or ₹37.30, to ₹2,048.20 from ₹2,085.50. SBI Life Insurance Company (SBILIFE) declined 1.74 per cent, or ₹30.70, to ₹1,733.50 from ₹1,764.20, Infosys (INFY) lost 1.66 per cent, or ₹19.40, to ₹1,152.20 from ₹1,171.60, and Bajaj Finance (BAJFINANCE) dropped 1.30 per cent, or ₹14.05, to ₹1,067.70 from ₹1,081.75. Volumes underline the pressure on banks and IT: about 97.74 lakh SBI shares and 2.25 crore HDFC Bank shares changed hands, against 19.77 lakh Infosys shares and 12.69 lakh Bharti Airtel shares. 

Broad Markets & Sectoral Indices 

The market breadth stayed weak. In the broader markets, only two indices were in the green: the Nifty Next 50 rose 0.44 per cent to 72,307.40 and the Nifty Smallcap 50 gained 0.07 per cent to 9,748.45. The weakest were the Nifty Microcap 250, down 0.63 per cent at 25,089.35, the Nifty Smallcap 500, down 0.41 per cent at 20,010.20, and the Nifty Smallcap 250, down 0.32 per cent at 17,537.40. 

Among sectoral indices, the Nifty PSU Bank gained 2.11 per cent to 8,766.55, the Nifty Pharma, up 30.9 per cent in a year, rose 2.09 per cent to 29,020.55 and the Nifty Healthcare added 1.67 per cent to 17,469.10. The Nifty IT, still down 7.63 per cent over a year, fell 1.32 per cent to 32,436.55, the Nifty Cement dropped 1.13 per cent to 14,462.60 and the Nifty Metal declined 0.67 per cent to 12,637.70. 

Oil Prices 

Brent crude was at $98.07 a barrel, down 0.25 per cent, while West Texas Intermediate (WTI) rose 0.18 per cent to $90.99. The OPEC basket fell 6.25 per cent to $90.82, and Mars crude declined 3.93 per cent to $123.54. Murban crude gained 3.42 per cent to $99.17 as of Friday, and natural gas rose 0.67 per cent to $3.018. Iraq’s oil exports recovered to about 3.5 million barrels per day in October from 2.65 million in September, according to Iraqi energy officials. 

Asian & US Markets 

Asian markets were mostly higher on Monday morning as technology shares rebounded from last week’s selloff. Taiwan surged 5.9 per cent to 42,044.46, the Nikkei gained 3.44 per cent to 59,411.34 and the Kospi added 1.81 per cent to 5,151.43, while Hong Kong’s Hang Seng rose 0.52 per cent to 24,609.54, Shanghai gained 0.67 per cent to 3,673.50 and Australia’s ASX 200 was nearly flat, down 0.04 per cent at 9,017.30. Singapore’s Straits Times fell 2.21 per cent to 5,179.17 and Malaysia lost 1.18 per cent to 1,616.58. 

US markets ended mostly higher on Friday, with the S&P 500 up 0.31 per cent at 7,376.86 and the Nasdaq 100 up 1.35 per cent at 26,989.99. The Dow Jones Industrial Average fell 237.33 points, or 0.46 per cent, to 51,285.73, as the transport index slid 1.56 per cent, while the small-cap Russell 2000 gained 0.89 per cent to 2,754.11. The Cboe Volatility Index dropped 9.01 per cent to 25.64, while the US 10-year Treasury yield rose to 4.882 per cent and the 2-year yield to 4.543 per cent. 

Iran War 

US President Donald Trump said on Sunday that fresh attacks on Iran were highly unlikely as long as talks to end the conflict progress, adding that this depends on Tehran signing a very strong agreement, as reported by CNN. He said the US had identified potential infrastructure targets, including 38 bridges that could be knocked down in an hour. Iraq has reached understandings with the US to allow its oil exports through the Strait of Hormuz via a shipping lane near Oman, Foreign Minister Fuad Hussein said. He said Iraq’s losses from the Iran war and export disruptions had reached $60 billion, underlining the economic cost of the conflict for the region. 

Previous Trading 

The Sensex ended marginally lower in Sunday’s special Muhurat session, falling 28.62 points, or 0.04 per cent, to 80,999.40, with 16 constituents higher and 14 lower. It had touched a high of 81,442.11, up 414.09 points, or 0.51 per cent, before profit-taking set in after the seven-day rally, as Samvat 2083 began after a year in which the Sensex lost 3,398.32 points, or 4 per cent, and the Nifty 838.25 points, or 3.24 per cent. The Nifty declined 43.95 points, or 0.18 per cent, to 24,986.40, after Friday’s final session of Samvat 2082, when the Sensex jumped 1,718.01 points, or 2.17 per cent, to 81,028.02 and the Nifty rallied 493.75 points, or 2.01 per cent, to 25,030.35. Mahindra & Mahindra, InterGlobe Aviation, Trent, Infosys, Bharti Airtel and Axis Bank were among the laggards, while Sun Pharma, Tata Steel, Maruti and Power Grid gained.