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The Indian stock indices edged downwards once more on Friday, November 7, marking the third consecutive session of losses amid soft global sentiment and continuing foreign-fund outflows. The Sensex slipped by 95 points (-0.11 per cent) to close at 83,216.28, while the Nifty 50 hovered just beneath 25,500, finishing at 25,492.30 (-0.07 per cent). Meanwhile, the mid-cap index rose by about 0.25 per cent, and the small-cap index remained largely flat. Global Headwinds And Fund Outflows Puneet Singhania, Director of Master Trust Group, said, “The Indian benchmark indices extended their decline for the second consecutive week, with the Nifty50 slipping nearly 1 per cent or 230 points to close at 25,492.30, while the BSE Sensex fell 0.86 per cent or 722 points to settle at 83,216.28. In contrast, the Bank Nifty outperformed and ended the week with a modest gain of 0.17 per cent, supported by sustained strength in PSU banks. The broader weakness in the benchmark indices can be attributed to three key factors: Weak global cues, Persistent FII selling, and Muted Q2 earnings performance across several sectors. Global market sentiment remained subdued amid rising concerns over elevated valuations in AI-driven technology stocks.” He further added that the Nasdaq 100, in particular, declined over 3 per cent, weighing on overall risk appetite. On the sectoral front, the Capital Markets and PSU Bank indices emerged as notable gainers, rising 2.20 per cent and 2.05 per cent, respectively, while Media and Consumer Durables lagged. Optimism in capital market-related stocks strengthened after Finance Minister Nirmala Sitharaman emphasised that the government does not intend to restrict derivatives trading, but rather aims to streamline and resolve existing operational challenges. “From an institutional perspective, FIIs offloaded around Rs 1,632 crore in equities during the week, whereas DIIs recorded strong net inflows of Rs 16,677 crore, offering meaningful support to the market and helping maintain a constructive undertone despite broader volatility,” Singhania added. Near-Term Outlook: Cautious But Selective According to Singhania, Nifty ended the week lower by 0.89 per cent, marking its second consecutive week of decline after strong October gains. This healthy correction has improved risk-reward levels, offering a fresh opportunity for accumulation. The RSI has cooled off from overbought territory and now hovers near 50, indicating room for an upward move. “Technically, resistance is seen around 25,750–25,800, and a breakout above this zone could trigger a rally toward 26,100. On the downside, support is placed at 25,300–25,350, coinciding with the 55-day EMA, suggesting downside risk remains limited. Overall, the market structure stays bullish, and traders should continue to adopt a buy-on-dips approach with a positive medium-term outlook,” he added. “Bank Nifty ended the week on a flat note, marking its third consecutive week of consolidation as profit booking emerged at higher levels. The index recently retested its 21-day EMA and successfully held above it, reaffirming strength in the ongoing uptrend. It continues to trade comfortably above both the 21-day and 55-day EMAs, maintaining a bullish structure. The weekly MACD remains in positive territory, confirming the sustained positive momentum. Immediate support is placed near 57,400, with a stronger base at 57,000. On the upside, resistance lies around 58,200, and a breakout above this level could open the path toward 58,700. Overall, the structure remains constructive, and traders should continue to adopt a buy-on-dips strategy,” he concluded. Key Triggers For The Week Ahead Looking ahead, market participants will track several major catalysts: Corporate earnings: Quarterly results from companies such as Bajaj Finance, ONGC, Bajaj Finserv, Biocon, Ashok Leyland, Asian Paints, Tata Steel, BPCL, Marico and Oil India are due and will offer sectoral cues. Inflation and macro data: Domestic CPI and WPI numbers will be closely watched for any signs of inflationary pressure that could influence central-bank policy. Global trade and tech themes: Developments around AI-related stocks and global trade deals will continue to sway sentiment. IPO momentum: A busy week in the primary market, with six new IPOs (four on the mainboard and two on the SME segment), will keep investor attention divided. (Disclaimer: This article is meant solely for informational and educational purposes. The views and opinions expressed are those of individual analysts or brokerage firms and do not reflect the stance of Times Now. Readers are advised to consult certified financial experts before making any investment decisions.) Get Latest News live on Times Now along with Breaking News and Top Headlines from Business, Companies and around the world.
