Closing Bell: Sensex Falls 519 Points, Nifty Slips Below 25,600 Amid Broad Market Weakness

The Indian stock market closed lower on Tuesday, November 4, as selling pressure weighed across most sectors. The Sensex dropped 519 points to settle at 83,459.15, while the Nifty slipped 165 points to close at 25,597.65, dragged down by IT, metal, auto, FMCG, and power stocks.

Among the biggest Nifty losers were Power Grid Corp, Coal India, Tata Motors Passenger Vehicles, Bajaj Auto, and NTPC, while Titan Company, Bharti Airtel, Bajaj Finance, HDFC Life, and M&M managed modest gains. All sectoral indices ended in the red except consumer durables and telecom. The BSE Midcap index fell 0.2%, and the Smallcap index declined 0.7%.

According to Rupak De of LKP Securities, Nifty moved toward its support zone around 25,525, indicating weak momentum and a bearish crossover on RSI. If the index slips below 25,590, the decline may extend toward 25,500–25,525, with resistance near 25,700.

Sudeep Shah of SBI Securities noted that Nifty’s losing streak continued, with the index closing below its 20-EMA and forming a bearish candle on the daily chart. Profit booking was seen in frontline stocks, while Titan and Bharti Airtel were top gainers. Broader markets also corrected after hitting recent highs, with market breadth remaining weak—only 143 of the Nifty 500 stocks ended higher.

Nagaraj Shetti of HDFC Securities observed that Nifty formed a long bearish candle, signaling profit booking. The index may test 25,400–25,500 levels before finding support for a potential rebound. Despite the short-term weakness, the medium-term trend remains positive.

In the Bank Nifty, the index remained range-bound but relatively resilient, supported by PSU banks. The 57,400–57,450 range is seen as key support, while resistance is placed between 58,250–58,350.

Vishnu Kant Upadhyay of Master Capital Services highlighted that the NSE’s plan to introduce a pre-open session for the F&O segment from December 8 is a positive step toward improving price discovery and liquidity. However, overall market sentiment remained soft, with metals and IT under pressure and consumer durables being the only bright spot.

Ajit Mishra of Religare Broking added that the markets faced broad-based selling amid weak global cues and inconsistent FII flows. Technically, Nifty’s break below the 20-day EMA suggests a potential extension of the correction toward 25,400, while resistance is capped at 25,800.

Overall, Tuesday’s session reflected cautious investor sentiment, with traders opting for profit booking ahead of key macroeconomic data and global market triggers.