The GIFT Nifty gained roughly 205 points to trade near 23,291, pointing toward a strong start for Indian indices following previous gains led by IT equities and Trent. Corporate financial reports show significant strength across heavyweights, highlighted by double-digit profit expansions at Reliance Industries, Jio Platforms, and NTPC. However, performance remains mixed across sectors, evidenced by Sun Pharma's sharp earnings contraction. Traders will assess these corporate outcomes alongside Nazara Technologies' planned $77 million investment in its UK subsidiary.
Key points
Robust quarterly profits from major energy and conglomerate heavyweights are reinforcing…: Robust quarterly profits from major energy and conglomerate heavyweights are reinforcing positive domestic market momentum.
Strong GIFT Nifty indicators suggest benchmark indices will build on Friday's gains recor…: Strong GIFT Nifty indicators suggest benchmark indices will build on Friday's gains recorded by the Sensex and Nifty.
Several major companies, including ITC and Marico, are slated to report quarterly financi…: Several major companies, including ITC and Marico, are slated to report quarterly financial results throughout the trading session.
Sources checked by our analysis pipeline: 1
Top stocks to watch today: The Indian stock market is expected to open higher on Monday, November 2, with GIFT Nifty signalling a positive start. GIFT Nifty was trading around 23,291, up nearly 205 points, or 0.89%, from the previous close of Nifty futures, indicating a potential gap-up opening for the domestic benchmark indices.
On Friday, the Sensex and Nifty extended their gains, supported by strong buying in IT stocks and earnings-driven gains in Trent, the Tata Group’s retail arm. The 30-share BSE Sensex advanced 308.49 points, or 0.42%, to close at 74,459.53. During the session, it surged as much as 591.55 points, or 0.79%, to hit an intraday high of 74,742.59. Meanwhile, the 50-share NSE Nifty gained 116.35 points, or 0.51%, to settle at 23,053.10.
Several stocks are expected to remain in focus as companies announce business updates and corporate developments. Fresh order wins, operational performance, expansion plans and other company-specific announcements could trigger stock-specific movements during Monday’s trading session.
Reliance Industries, Jio Platforms, ITC, Marico, NTPC, CSDL, SJVN among shares in focus on Monday.
A sharp retreat in battery consumption and looming trade headwinds have prompted analysts to downgrade raw material projections through the end of 2028. Upcoming regulatory changes in Europe and the rollback of tax incentives in Beijing are accelerating this downturn by dampening electric vehicle and energy-storage purchases. Consequently, end-users are expected to defer bulk orders and maintain minimal inventories, leaving near-term spot pricing under prolonged pressure.
Authorities are stepping in to halt an equity downturn after an 8.5% slide in October dragged the CSI 300 Index into bear-market territory. Financial watchdogs are exploring optimized lending initiatives for share repurchases alongside expanded funding quotas for state asset managers to directly back equities. These coordinated efforts aim to revive investor confidence amid mounting concerns over contracting economic indicators and corporate earnings.
Market participants across the region shifted into risk-on positioning, directing capital toward technology shares. This positive momentum reflects heightened investor focus on corporate earnings as quarterly results from major industry leaders loom. The resulting upward trajectory established broad support across regional exchanges during the trading session.