📈 DAILY MARKET UPDATE
📅 Date – 02 November 2026
1️⃣ VERY IMPORTANT NEWS
• Government is reportedly seeking feedback on reducing Long-Term Capital Gains (LTCG) tax and providing relief on STCG tax to improve foreign investor sentiment.
• October GST collection increased 23% YoY to ₹2.31 lakh crore, indicating strong economic activity.
• Reliance Industries reported a strong Q2 result, with consolidated net profit increasing over 40% YoY to ₹25,500 crore.
🌍 GLOBAL MARKET
✔️ US Markets:
• Dow Jones: -1.09%
• S&P 500: -1.82%
• Nasdaq: -2.86%
• Semiconductor index declined over 8%. Intel fell nearly 30%, while Nvidia and Broadcom declined around 5%.
✔️ Asia Market Update:
• Asian market cues are mixed amid global uncertainty and elevated crude oil prices.
✔️ Gift Nifty Signal:
• Trading near 23,242.
• Indicating a positive gap-up opening of more than 100 points (early indication).
✔️ Crude Oil:
• Brent Crude: $113/barrel.
• WTI Crude: $103/barrel.
🇮🇳 INDIAN MARKET OVERVIEW
✔️ Sector Trend:
• Auto sector may remain in focus due to strong October sales.
• Banking and Energy stocks may benefit from improving foreign investor sentiment.
• IT sector may remain under pressure due to negative ADR indications.
✔️ Market Sentiment / Trend:
• Nifty and Sensex closed around 0.5% higher on Friday.
• Midcap declined nearly 1% and Smallcap fell around 2%.
• Positive opening expected, supported by large-cap stocks and domestic developments.
💰 FII & DII DATA
✔️ FIIs:
• Net Buyers: ₹3,600 crore.
✔️ DIIs:
• Net Sellers: More than ₹800 crore.
📊 COMMODITIES UPDATE
✔️ Crude:
• Brent Crude: $113/barrel.
• WTI Crude: $103/barrel.
• Brent crude increased around 13.6% during October.
📊 OPTIONS DATA (OI BUILD-UP)
✔️ Call OI:
• Maximum Call OI: 23,500.
• Followed by 23,400 and 23,200.
• Fresh Call writing: 23,000, 23,050 and 23,200.
✔️ Put OI:
• Maximum Put OI: 22,700.
• Followed by 22,800.
• Fresh Put writing: 23,000 and 22,900.
✔️ PCR:
• Increased to 1.37 from 1.27.
• Indicates improvement in bullish positioning.
📈 NIFTY LEVELS
✔️ Trend: Short-term recovery, but broader trend remains cautious.
• Immediate Support: 23,000
• Major Support: 22,850
• Immediate Resistance: 23,150–23,200
• Strong Resistance: 23,200
📉 BANK NIFTY LEVELS
✔️ Trend: Weak / Bearish.
• Immediate Support: 54,500
• Major Support: 54,300
• Immediate Resistance: 54,700–54,800
• Strong Resistance: 55,000
📊 STOCKS / SECTORS IN NEWS
• Reliance Industries: Q2 net profit increased over 40% YoY to ₹25,500 crore.
• Auto Sector: Maruti Suzuki, Tata Motors and TVS Motor reported around 20% YoY sales growth.
• Hyundai: October sales increased 18% YoY.
• Mahindra & Mahindra: Auto sales increased 9%, but domestic tractor sales declined 13%.
• IT Sector: Infosys and Wipro ADRs showed negative arbitrage of around 5%.
🎯 EXPECTED TRADING RANGE TODAY
✔️ Nifty Range: 22,800 – 23,200
✔️ Bank Nifty Range: 54,300 – 55,000
📅 IMPORTANT DATA / EVENTS TODAY
• India Manufacturing PMI – 10:30 AM.
• US Manufacturing PMI – After market closing.
• Results scheduled: SBI, ITC, Marico, UPL, Petronet LNG, NALCO and Escorts Kubota.
• US midterm election and developments regarding the US-Iran negotiations.
📌 QUICK SUMMARY
• Positive opening expected due to Gift Nifty, strong GST collections, auto sales and Reliance results.
• FII buying of ₹3,600 crore and PCR at 1.37 indicate improved sentiment.
• High crude oil prices, negative US markets and geopolitical uncertainty remain major concerns.
• Nifty: 22,800–23,200 | Bank Nifty: 54,300–55,000.