Nifty Outlook for November 12: Index, Nifty Bank see first signs of exhaustion at higher levels; what happens next?

Résumé détaillé

Wednesday's rally, driven largely by renewed buying from foreign institutional investors (FIIs), prompted some profit booking at higher levels. Overseas investors bought another ₹12,563 crore worth of Indian shares today.

After a couple of sessions of consolidation, the Nifty staged a spectacular comeback on Wednesday, climbing to an intraday high of 25,424. However, heightened volatility and late-session profit booking prevented the index from sustaining its gains near the day's highs.

The rally, driven largely by renewed buying from foreign institutional investors (FIIs), also prompted some profit booking at higher levels.

Overseas investors bought another ₹12,563 crore ($1.34 billion) worth of Indian shares on Wednesday, taking their net purchases in November so far to $7.3 billion, according to provisional exchange data.

Among Nifty constituents, M&M and IndiGo led the gains, while Adani Ports and Tech Mahindra were among the major laggards.

Sectorally, PSU Bank and Auto stocks attracted renewed buying interest, whereas IT and Realty remained under pressure.

The recovery was more pronounced in the broader markets, with the Nifty Midcap 100 advancing 0.81% and the Nifty Smallcap 100 outperforming with a 1.59% gain, breaking out of its recent consolidation phase.

Looking ahead, Indian equities are likely to retain their positive bias, supported by an improving corporate earnings trajectory, a sharp correction in crude oil prices and a strong resurgence in foreign investor flows.

The Q2FY27 earnings season is increasingly delivering results ahead of expectations, strengthening confidence in a corporate earnings recovery and providing fundamental support to the ongoing market rally.

On the macroeconomic front, Brent crude has eased to around $93 per barrel, hovering near a two-month low and offering meaningful relief. Foreign investors have also returned decisively, investing approximately ₹71,000 crore in Indian equities over the past 15 sessions.

Début de l'article, extrait de CNBC-TV18. Pour lire la suite, ouvrez l'article chez le média.