Markets open lower as FII selling weighs; Banking stocks show resilience

Markets opened on a subdued note on Tuesday, with benchmark indices trading in the red amid renewed foreign institutional investor selling and mixed global cues. The BSE Sensex, which closed at ₹83,978.49 in the previous session, opened at ₹84,000.64 and was trading at ₹83,807.57, down 170.92 points or 0.20 per cent. The Nifty 50 opened at 25,744.75 against its previous close of 25,763.35 and was trading at 25,701.80, lower by 61.55 points or 0.24 per cent at 9.56 am. “FIIs’ renewed selling is constraining the rally in the market. During the last four days FIIs have sold equity worth ₹14,269 crores,” said Dr. VK Vijayakumar, Chief Investment Strategist at Geojit Investments Limited. “Higher valuations in India and muted earnings growth are restraining FIIs who are more focused on cheaper markets with better earnings growth.” Foreign Institutional Investors extended their selling streak for the fourth consecutive session, offloading equities worth ₹1,883 crore on November 1. However, Domestic Institutional Investors continued their buying spree for the eighth straight session, purchasing equities worth over ₹3,500 crore on the same day, providing crucial support to the market. Among the top gainers on the Nifty 50, Bharti Airtel led with a gain of 2.23 per cent, trading at ₹2,120.20. Titan Company advanced 1.06 per cent to ₹3,764.10, while HDFC Life Insurance rose 0.63 per cent to ₹740.60. Shriram Finance gained 0.54 per cent to ₹800.75, and Adani Enterprises was up 0.42 per cent at ₹2,477.40. On the losing side, Tata Consumer Products declined 2.92 per cent to ₹1,162.50, emerging as the top loser. Power Grid Corporation fell 2.52 per cent to ₹280.75, while Eicher Motors dropped 1.52 per cent to ₹317.70. Bajaj Auto declined 1.34 per cent to ₹8,803.00, and Tata Motors passenger vehicles segment slipped 1.04 per cent to ₹412.65. “The Nifty 50 continues to find firm support around 25,660, which remains the key pivot for the ongoing structure,” said Ponmudi R, CEO of Enrich Money. “A sustained close below this zone could trigger short-term weakness toward 25,500–25,400, while holding above 25,800 may pave the way for a retest of 25,960–26,050.” The Bank Nifty showed relative strength, with analysts noting consistent buying in public sector banks and select private lenders. “The Bank Nifty maintained its positive undertone, closing above 58,100, supported by consistent buying in public sector banks and select private lenders,” Ponmudi added. Immediate resistance is seen at 58,300–58,500. Markets will remain closed on Wednesday for Guru Nanak Jayanti. “Nifty’s record peak of 26,277.35 may stay out of reach as investors turn cautious amid the Fed’s uncertain stance on a December rate cut, unclear U.S.–India trade talks, and muted Q2 earnings,” said Prashanth Tapse, Senior VP (Research) at Mehta Equities. “A significant trend in the market is the resilience of the PSU banking space. This segment is even now attractively valued in a market which is richly valued,” Dr. Vijayakumar noted. “The prospects of this segment look bright in the context of the coming merger of PSU banks.” Among individual stocks, Vodafone Idea surged 9.7 per cent after AGR dues clarity. Major Q2 results are due from SBI, M&M, Adani Ports, and IndiGo. Published on November 4, 2025