MUMBAI — Indian markets turned sharply lower by Monday afternoon, deepening the early-trade slide reported this morning, with the Nifty 50 falling 104.60 points, or 0.42 per cent, to 24,881.80 as of 1:21 pm after opening at 25,076, and the Sensex declining 362.13 points, or 0.45 per cent, to 80,637.27 from its previous close of 80,999.40, The Hindu BusinessLine reported in its midday update published at 1:38 pm.

Source: The Hindu BusinessLine

Selling pressure broadened across IT, metals and cement, overwhelming early gains in banking and pharma stocks. Market breadth turned negative on the BSE, where 2,517 stocks declined against 1,757 advances out of 4,530 traded, the report said. In early trade, by contrast, the Sensex had been down only about 134 points at 9:39 am, Kotak Neo's morning update showed, before the slide deepened through the session.

Source: Kotak Neo (morning session)

24,881.80Nifty 50 at 1:21 pm, down 104.60 points (0.42%)
80,637.27Sensex at midday, down 362.13 points (0.45%)
93.70Rupee per US dollar — strongest since April, a 2026 high
2,517 vs 1,757Declining vs advancing stocks on the BSE at midday

IT leads the fall, banks hold up

HCL Technologies led Nifty declines, falling 2.98 per cent to Rs 1,399, followed by Tata Steel (down 2.64 per cent), UltraTech Cement (down 2.47 per cent), Infosys (down 2.24 per cent) and Bharti Airtel (down 1.92 per cent). State Bank of India was the top Nifty gainer, rising 1.74 per cent to Rs 1,033.65, with HDFC Bank and ICICI Bank also higher, BusinessLine reported. The IT sector's weakness came against elevated US Treasury yields and rising expectations of a December Federal Reserve rate hike after Friday's stronger-than-expected US October jobs report, with Thursday's US CPI data now in focus, the report said.

Source: The Hindu BusinessLine

Rupee breaks a five-month band

The Indian rupee extended its advance, trading around 93.70 against the US dollar — its strongest level since April — after breaking below the 94.40–94.50 band that had held for nearly five months. The currency recorded its strongest weekly gain of 2026 last week, appreciating about 1.1 per cent, supported by foreign portfolio investment inflows of about $1.5 billion, BusinessLine reported, quoting Enrich Money CEO Ponmudi R, who said the RBI appeared to ease its defence of the 94.30 level.

Source: The Hindu BusinessLine

In commodities, COMEX gold advanced to around $4,130 an ounce, up about 1.3 per cent, and silver climbed about 2.2 per cent to around $53.10, while on the MCX gold traded near Rs 143,970 (up about 1 per cent) and silver near Rs 188,600 (up about 1.9 per cent), the report said. Markets are closed on Tuesday, November 10, for Diwali-Balipratipada, Kotak Neo noted.

Source: Kotak Neo