BSE & NSE Closed Today; Nifty Faces Weekly Pressure

India’s stock markets took a pause on November 5, as both the Bombay Stock Exchange (BSE) and National Stock Exchange (NSE) remained closed for Prakash Gurpurb Sri Guru Nanak Dev Jayanti. Trading in equities, derivatives, currency, and interest rate instruments halted for the day, while commodity derivatives resumed only in the evening session from 5 pm onwards.

The pause comes after a turbulent session on November 4, when Indian equity indices witnessed broad-based selling, with the Nifty 50 closing below 25,600. The Sensex fell 519 points, ending at 83,459, as most sectors except telecom and consumer durables faced pressure. Midcap and smallcap stocks also recorded losses, slipping 0.2% and 0.7% respectively.

Among Nifty constituents, Power Grid, Coal India, Tata Motors Passenger Vehicles, Bajaj Auto, and Eicher Motors were the top laggards, while Titan Company, Bharti Airtel, Bajaj Finance, HDFC Life, and M&M managed to register gains. Sectoral trends highlighted declines across IT, auto, FMCG, metals, power, realty, and PSU indices, reflecting a cautious investor sentiment.

The market downturn was partly influenced by weekly expiry dynamics, profit-booking by heavyweight stocks, and subdued risk appetite amid weak global cues. Investors also remained cautious due to inconsistent foreign institutional investor (FII) flows. Technical analysts noted that a sustained move below the 20-day EMA could signal further corrective trends toward 25,400, while resistance is seen near 25,800.

In the currency market, the Indian rupee ended at 88.65 per US dollar, up 13 paise from the previous day. Early gains were partially offset as selling pressure resumed, keeping the rupee movement volatile. The expected trading range for the rupee is projected between 88.25 and 88.90, reflecting ongoing market sensitivity.

As markets remain closed today, investors are awaiting fresh cues from domestic sectors and global markets when trading resumes on November 6, hoping for stability after a brief holiday break.