The Indian markets exhibited a bullish sentiment on November 10, snapping a three-day losing streak amid positive global cues from the potential resolution of the US government shutdown and improved corporate earnings. Key themes included a rebound in IT stocks, upgrades from global brokerages like Goldman Sachs, and regulatory developments from SEBI and RBI. Overall, the session was marked by optimism driven by sectoral gains and foreign investor inflows.
The Indian equity benchmarks ended higher on November 10, with the Sensex climbing 319 points to 83,535 and the Nifty 50 rising 82 points to 25,574. This rebound was primarily driven by strong performances in IT stocks, which snapped a six-day losing streak for the Nifty IT index. Positive global cues, including hopes for the end of the US government shutdown, contributed to the upbeat mood. Broader markets also advanced, with midcap and smallcap indices up 0.47% and 0.32% respectively. Foreign institutional investors showed renewed interest, supporting the recovery. Trading volumes were moderate, reflecting cautious optimism amid the ongoing earnings season.
| Index | Close | Change (Points) | % Change | Day's Range |
|---|---|---|---|---|
| Sensex | 83,535.35 | 319.07 | 0.38% | 83,216 - 83,718 |
| Nifty 50 | 25,574.35 | 82.05 | 0.32% | 25,503 - 25,653 |
| Nifty Bank | 57,885.00 | 57.95 | 0.10% | 57,700 - 58,000 |
| BSE SmallCap | 52,142.65 | 181.85 | 0.35% | 51,900 - 52,300 |
| BSE Midcap | 46,827.05 | 220.5 | 0.47% | 46,600 - 47,000 |
| BSE-500 | 38,412.90 | 203.25 | 0.53% | 38,200 - 38,600 |
| Nifty 500 | 24,112.45 | 199.8 | 0.83% | 23,900 - 24,300 |
| India VIX | 12.41 | -0.26 | -2.07% | 12.15 - 12.67 |
Goldman Sachs upgraded Indian stocks from neutral to overweight, citing strengthening earnings momentum and positive growth prospects. The brokerage set a 2026 year-end target of 29,000 for the Nifty 50, implying a 14% upside from current levels. This reversal comes just a month after a downgrade, highlighting improved macroeconomic indicators. The move is expected to boost investor confidence and attract more foreign inflows. Sectors like financials and IT are highlighted as top picks amid the upgrade. This development underscores India's resilience in a volatile global environment. Business Standard, https://www.business-standard.com/markets/news/goldman-sachs-upgrades-indian-stocks-to-overweight-on-growth-momentum-125111000496_1.html
Indian markets opened higher and sustained gains, influenced by expectations of a swift resolution to the US government shutdown. This global cue alleviated concerns over international trade disruptions affecting India. Coupled with improving corporate earnings, the sentiment turned positive, leading to broad-based buying. The rupee strengthened slightly against the dollar, supporting equity inflows. Analysts note this could mark the beginning of a short-term recovery rally. However, volatility remains due to upcoming macroeconomic data releases. Reuters, https://www.reuters.com/world/india/india-stocks-set-open-higher-us-government-reopening-hopes-earnings-optimism-2025-11-10/
The high-level committee on conflict of interest and disclosures submitted its report to SEBI Chairman on November 10. The panel, formed to address governance issues in market intermediaries, focused on members and corporations. Recommendations include enhanced transparency and stricter disclosure norms to prevent misuse. This move aims to strengthen investor protection in India's capital markets. Implementation could lead to regulatory changes in the coming months. The report was presented at SEBI headquarters in Mumbai. Business Standard, https://www.business-standard.com/markets/news/sebi-expert-group-on-conflict-of-interest-submits-its-report-to-chairman-125111001837_1.html
SEBI cautioned investors against unregulated digital gold products offered by online platforms. Highlighting operational, counterparty, and liquidity risks, the advisory urges avoidance of such schemes. Digital gold lacks regulatory oversight, potentially exposing buyers to fraud or default. This follows the increased promotion of these products as alternatives to physical gold. Investors are advised to stick to regulated avenues like gold ETFs or sovereign gold bonds. The warning aims to protect retail participants in volatile markets. NDTV, https://www.ndtv.com/india-news/sebi-warns-investors-on-digital-gold-risks-what-it-is-9606238
The Reserve Bank of India announced that silver can now be used as collateral for loans, effective from April 2026. This expands options for borrowers, particularly in rural and jewelry sectors. The move aligns with updated lending guidelines to enhance financial inclusion. Limits and valuation norms will be specified to mitigate risks. Banks are expected to adapt policies accordingly. This could boost silver demand and market liquidity in India. Angel One, https://www.angelone.in/news/personal-finance/rbi-introduces-silver-as-loan-collateral-under-new-lending-rules-effective-april-2026
Bajaj Finance reported a 22% year-on-year increase in net profit for Q2 FY26, reaching robust figures driven by higher loan disbursals. Assets under management grew significantly, reflecting expansion in consumer and SME segments. Net interest margins remained stable despite competitive pressures. Provisions for bad loans were contained, indicating improved asset quality. The company anticipates continued growth in FY26. Shares reacted positively in trading sessions. Money Control, https://www.moneycontrol.com/news/business/earnings/q2-results-2025-live-updates-bajaj-finance-ongc-vodafone-idea-reliance-power-hudco-ather-energy-kec-international-quarterly-earnings-today-10-november-2025-liveblog-13663325.html
Vodafone Idea reduced its quarterly loss in Q2 FY26, aided by subscriber additions and tariff hikes. Revenue from operations increased modestly year-on-year. ARPU improved due to premium plan uptake. The company continues network investments to compete with rivals. Debt remains high, but fundraising plans are in progress. Market response was mixed amid telecom sector challenges. Hindustan Times, https://www.hindustantimes.com/business/q2-results-today-live-updates-10-nov-2025-101762767373926.html
Oil and Natural Gas Corporation (ONGC) announced Q2 FY26 results, showing steady profit amid fluctuating crude prices. Revenue was supported by higher output from key fields. Exploration costs were managed effectively. The company plans increased capex for offshore projects. Global oil dynamics influenced margins. Shares traded flat post-announcement. Business Standard, https://www.business-standard.com/companies/quarterly-results/q2-results-today-ongc-vodafone-idea-reliance-power-and-more-on-nov-10-125111000162_1.html
The Nifty IT index rose over 1% on November 10, ending a prolonged decline, driven by gains in majors like Infosys and HCL Tech. Positive US tech cues and earnings optimism fueled the sector rebound. This contributed significantly to the broader market recovery. Analysts expect continued momentum if global demand sustains. Mid-tier IT firms also participated in the upmove. Volume spikes indicated strong buying interest. Samco, https://www.samco.in/knowledge-center/articles/it-stocks-surge-as-nifty-it-snaps-6-day-losing-streak-infosys-hcl-tech-lead-gains/