Indian equities defied a global rout, extending their winning run as investors treated the home market as a relative safe harbour amid turmoil abroad. Wall Street was hammered by a sharp tech sell-off as investors weighed the prospect of tougher regulation under Democrats.

Large private banks emerged as the prime beneficiaries, their deep liquidity and attractive valuations making them a natural home for this rotational money.

A sharp weekly slide in crude, easing U.S. Treasury yields and a firmer rupee further burnished India’s relative appeal.

With Fed officials still hinting at further hikes, the U.S. jobs report due later today will be closely watched. Still, as Samvat 2082 draws to a close, the market enters the new Samvat with foreign flows, crude and the currency finally pulling in the same direction.

The Indian equity markets closed higher for the seventh consecutive session. The Sensex closed around 81,028, up 1,718 points, while the Nifty closed at 25,030, up 494 points. Banking stocks led the rally, particularly private sector banks. However, the broader market remained under pressure, with the Nifty Midcap 100 and Smallcap indices falling around 1% each, indicating weakness beyond frontline stocks.

Among sectors, IT stocks supported the recovery as market shifted towards Indian IT companies following the global sell off in AI linked stocks. TCS, Infosys and HCL Technologies were among the key gainers.

Private banks also performed strongly, led by HDFC Bank and ICICI Bank, while PSU banks underperformed.

Stock specific action remained positive, Mahindra & Mahindra gained around 5% following its Q2 results, while Titan rose nearly 3% after reporting more than a two fold increase in quarterly profit. Overall, despite strong gains in benchmark indices, weakness in midcaps and smallcaps remains a concern. Going ahead, we will track Q2 earnings, crude oil prices and global market developments.

Indian equity indices ended on positive note on seven consecutive session on November 6 with Nifty above 24,900 .

At close, the Sensex was up 1,718.01 points or 2.17 percent at 81,028.02, and the Nifty was up 493.75 points or 2.01 percent at 25,030.35. About 1681 shares advanced, 2400 shares declined, and 148 shares unchanged.

Biggest Nifty gainers were ICICI Bank, M&M, HDFC Bank, Titan Company, Axis Bank, while losers included Eicher Motors, Power Grid Corp, Bharat Electronics, Adani Enterprises, Tata Motors Passenger Vehicles.

Among sectors, energy, media and realty down 0.9-1.5%, while consume durable, Nifty Bank, Pharma, Private Bank up 1-3%.

The Nifty midcap index ended marginally lower and smallcap index shed 0.8 percent, snapping 4-day winning streak.

The rupee slipped 9 paise to 94.50 against the dollar in early trade on Friday from Thursday’s 94.41 close, before finding support by afternoon. What changed today is that INR 14,975 crore in foreign stock buying on Thursday, the largest single-day inflow of 2026 and lifting five-day inflows to INR 35,809 crore, failed to push the currency meaningfully higher as Brent crude reclaimed the USD 100 mark on fresh Middle East tensions.

Moreover, the RBI’s decision to drain INR 25,000 crore through a reverse repo auction today offers a telling clue. Absorbing extra rupees from the banking system right as large foreign funds enter the country indicates the RBI is actively buying those incoming dollars to rebuild its reserves. Heavy equity inflows are no longer fueling a rupee rally, they are refilling India’s forex buffer.

West Coast Paper reported a net profit of Rs 111 crore in Q2 against Rs 17.5 crore in the year-ago period. Revenue increased 22.6 percent to Rs 1,279 crore from Rs 1,043 crore. EBITDA nearly tripled to Rs 194 crore from Rs 68 crore, while EBITDA margin improved to 15.2 percent from 6.5 percent YoY.

West Coast Paper Mills was quoting at Rs 748.20, down Rs 84.55, or 10.15 percent.

It has touched an intraday high of Rs 822.90 and an intraday low of Rs 719.65.

It was trading with volumes of 74,283 shares, compared to its five day average of 13,595 shares, an increase of 446.39 percent.

#1 Novelis Q2 adjusted EBITDA, excluding insurance recoveries, grew 11% YoY to $469 million

#2 Net debt/EBITDA increased to 4.7x from 4.5x QoQ; management expects it to decline to 4x by Q4FY27, alongside a return to positive free cash flow

#3 Bay Minette commissioning remains on track, with the first coil produced in September 2026

#4 Oswego insurance recoveries stood at $519 million in H1; company expects $900 million by FY27-end and $1.3 billion by next year

#5 Q2 tariff impact stood at $78 million and should ease by FY27-end as more production shifts to the US

#6 CFO will depart in mid-January 2027; replacement yet to be announced

Hindalco Industries was quoting at Rs 943.50, up Rs 3.50, or 0.37 percent.

It has touched an intraday high of Rs 944.45 and an intraday low of Rs 891.60.

It was trading with volumes of 450,970 shares, compared to its five day average of 157,080 shares, an increase of 187.10 percent.

Bosch reported an 18.6 percent year-on-year rise in net profit at Rs 839.4 crore against Rs 708 crore. Revenue increased 28.2 percent to Rs 7,655 crore from Rs 5,969 crore. EBITDA rose 23.2 percent to Rs 1,037 crore from Rs 842 crore, while EBITDA margin contracted to 13.5 percent from 14 percent YoY.

Bosch was quoting at Rs 50,700, down Rs 1,750, or 3.34 percent.

It has touched a 52-week high of Rs 52,650.

It has touched an intraday high of Rs 52,650 and an intraday low of Rs 50,400.

It was trading with volumes of 3,354 shares, compared to its five day average of 3,278 shares, an increase of 2.31 percent.

Hindalco Industries reported a net profit of Rs 5,132 crore in Q2 against Rs 2,266 crore in the year-ago period. Revenue increased 42.7 percent to Rs 35,369 crore from Rs 24,780 crore. EBITDA more than doubled to Rs 7,590 crore from Rs 3,740 crore, while EBITDA margin improved to 21.5 percent from 15.1 percent YoY.

Hindalco Industries was quoting at Rs 937.75, down Rs 2.25, or 0.24 percent.

It has touched an intraday high of Rs 942.00 and an intraday low of Rs 891.60.

It was trading with volumes of 429,686 shares, compared to its five day average of 157,080 shares, an increase of 173.55 percent.

Bosch's board has approved a bonus issue in the ratio of 3:1 and a stock split in the ratio of 1:5.

Bosch was quoting at Rs 50,939.30, down Rs 1,510.70, or 2.88 percent.

It has touched a 52-week high of Rs 52,650.00.

It has touched an intraday high of Rs 52,650.00 and an intraday low of Rs 50,905.00.

It was trading with volumes of 2,700 shares, compared to its five day average of 3,278 shares, a decrease of -17.64 percent.

In the previous trading session, the share closed up 3.25 percent or Rs 1,650.00 at Rs 52,450.00.

Market capitalisation stands at Rs 150,251.07 crore.

The Nifty Private Bank index surged 2.25 percent, leading sectoral gains, while Bank Nifty advanced 1.54 percent to 58,665. Consumer Durables rose 1.08 percent and Pharma gained 1.05 percent. On the losing side, Realty declined 1.60 percent, Media fell 1.40 percent and Energy slipped 1.05 percent. Broader markets remained weak, with the Nifty Smallcap 100 falling 1.18 percent and Midcap 100 declining 0.54 percent. Meanwhile, India VIX surged 10.21 percent to 17.17, indicating a sharp rise in expected market volatility.

The Sensex jumped 1,150.83 points, or 1.45 percent, to 80,460.84, while the Nifty advanced 287.90 points, or 1.17 percent, to 24,824.50 around 2:27 pm. Gains widened further from 2:10 pm, when the Sensex was up 1,026 points and the Nifty 251 points. However, market breadth remained negative, with 2,597 shares declining against 1,386 advances, while 163 remained unchanged.

The Nifty Private Bank index surged 2.03 percent, leading sectoral gains, while Bank Nifty advanced 1.34 percent to 58,550.70. Consumer Durables gained 1.06 percent and Pharma rose 0.99 percent. On the losing side, Realty declined 1.77 percent, Media fell 1.62 percent and Energy slipped 1.05 percent. Broader markets remained weak, with the Nifty Smallcap 100 falling 1.33 percent and Midcap 100 declining 0.68 percent. Meanwhile, India VIX surged 10.40 percent to 17.20, indicating a sharp increase in expected market volatility.

#1 Q2 revenue and EBITDA at Rs 60,900 crore and Rs 34,900 crore, up 4-5% QoQ and 17-18% YoY, beating estimates

#2 India and Africa operations drove the positive surprise; India mobile revenue and EBITDA grew 3-4% QoQ and 10-11% YoY

#3 Postpaid net additions were highest ever, while ARPU rose 3% QoQ to Rs 271, now 24% above sector leader

#4 Q2 consolidated free cash flow after leases and capex stood strong at Rs 19,000 crore, while gearing remained low at 1.2x

Ratnamani Metals reported a 25 percent year-on-year decline in net profit at Rs 102 crore against Rs 136 crore. Revenue increased 13.1 percent to Rs 1,348 crore from Rs 1,192 crore. EBITDA fell 10.8 percent to Rs 189 crore from Rs 212 crore, while EBITDA margin contracted to 14 percent from 17.8 percent YoY.

Ratnamani Metals and Tubes was quoting at Rs 2,365.10, down Rs 89.90, or 3.66 percent.

It has touched an intraday high of Rs 2,464.00 and an intraday low of Rs 2,278.00.

It was trading with volumes of 1,501 shares, compared to its five day average of 1,390 shares, an increase of 8.00 percent.