Market Close Report Today, November 9, 2026: Nifty, Sensex Post Modest Gains As Diwali Party Pauses For Breath

Mumbai, November 9: Indian equity benchmarks ended a volatile session with modest gains on Monday, recovering from steep intraday losses as buying in banking stocks, particularly public sector lenders, helped the indices finish higher. The Sensex and Nifty took their closing levels to their highest in more than eight months. 

At close, the Sensex was up 107.25 points, or 0.13%, at 81,106.65, while the Nifty gained 58.25 points, or 0.23%, to settle at 25,044.65. Both benchmarks recorded their highest closing levels since February 27, 2026. 

The indices had surged around 10.5% over seven consecutive sessions through Friday, marking their longest winning streak this year. The rally has been supported by easing crude oil prices, a revival in foreign portfolio investor (FPI) buying and a shift away from global artificial intelligence-linked investments. The special trading on Diwali saw mild profit-booking. 

Sectoral indices 

Public sector banks led sectoral gains, with the Nifty PSU Bank index surging 3.7%. The Bank Nifty advanced 1.51%, while the Nifty Pharma index gained 1.6%, supported by buying interest in pharmaceutical stocks. 

Other sectoral indices ending higher included Consumer Durables, which advanced 0.9%, and Private Bank, which rose 0.7%. Financial Services gained 0.7%, while Media and Realty advanced 0.5% and 0.8%, respectively. The Auto index edged up 0.3%. 

On the losing side, the Nifty IT index declined 1.2%, emerging as the worst-performing sector. Metals fell 0.5%, while FMCG slipped 0.1%. The Nifty Commodities and Services indices also ended lower. 

Nifty 50: Top gainers and losers 

State Bank of India (SBI) led the Nifty 50 gainers, advancing 2.6%. Trent gained 2%, while NTPC rose 1.9%. 

Among the major losers, Tata Steel declined 2.8%, while HCL Technologies fell 2.4%. UltraTech Cement shed 1.8%. Infosys and Tech Mahindra declined 1.5% and 1.4%, respectively. 

Broader markets and market breadth 

Broader market indices also ended higher, with the Nifty Midcap 100 rising 0.6% and the Nifty Smallcap 100 gaining 0.1%. However, market breadth remained negative, indicating that the recovery in benchmark indices was not broad-based. 

On the NSE, 2,316 stocks declined, compared with 1,922 advances, while 205 stocks remained unchanged. India VIX, the market’s volatility gauge, declined 5.8%. 

Foreign inflows, crude oil support market sentiment 

Foreign portfolio investors have purchased Indian equities worth more than $4.1 billion so far in November, marking their strongest monthly inflows since September 2024. The renewed foreign buying has helped domestic markets recover after a prolonged period of underperformance against global peers. 

Brent crude futures declined amid easing concerns over a further escalation of the Iran conflict, with US President Donald Trump indicating that fresh military attacks were unlikely as negotiations continued. Lower oil prices have improved the outlook for India’s external balances and inflation, making domestic equities more attractive to foreign investors. 

The changing global investment landscape has also supported the shift towards Indian equities. Concerns over the profitability of massive AI investments have triggered a sell-off in technology-heavy markets, prompting investors to reassess allocations across emerging markets. 

Global brokerages have turned more constructive on Indian equities following the recent recovery. A broker raised its end-2027 Nifty 50 target to 28,000, implying around 12% upside from the index’s previous closing level, while another upgraded its rating on Indian equities to ‘overweight’ from ‘neutral’. 

However, market participants expect stock-specific action and intermittent profit-booking to remain in focus. The ongoing corporate earnings season is also expected to influence the next leg of the market’s movement. 

Indian stock markets will remain closed on Tuesday, November 10, on account of the Diwali-Balipratipada holiday. Trading will resume on Wednesday, November 11. 

Source

•  NSE
• BSE