SENSEX gains 600 points; NIFTY50 opens at 23,582 level; IndiGo, Shriram Finance, Asian Paints lead pack of gainers

Index heavyweight stocks like IndiGo, Shriram Finance, Asian Paints, HDFC Bank, and Bajaj Finance were leading the pack of gainers as of the early trade on November 3.

At 9:15 am (IST), the NIFTY50 index rose 0.60% or 141 points to open at 23,582.25 points on Tuesday’s market, in comparison to 23,440.80 at the previous equity market close, according to NSE data.

The BSE SENSEX gained 0.79% or 595 points to open at 76,288.65 points on November 3, in comparison to 75,692.78 points at the previous stock market close, as per the exchange data.

Before the opening bell on Tuesday, the GIFT NIFTY futures were trading 1.37% higher or 319 points higher at around 23,559 level, indicating elevated buying interest among investors in the market.

Equity market investors are expected to focus on the buying momentum after major selling pressure in the tech and chipmaking stocks on Wall Street and Asian markets over rising concerns about AI technology and risk.

Key focus will also remain on crude oil prices and geopolitical developments from West Asia amid reports of the latest attack on Monday evening, and the US midterm elections scheduled this week.

Data showed that global crude oil prices were trading slightly elevated near $109 per barrel (bbl), in comparison to the previous market close, as commodity market investors focused on the latest reports about the United States attacking Qeshm Island, Iran, on Monday evening, reported the news portal WSJ, citing officials aware of the development.

The report suggests that America secretly attacked Iran at a time when the markets were preparing for a further escalation attempt from US President Donald Trump. However, no official confirmation about the attack has been provided so far.

Asian equities were witnessing overall selling pressure from investors during the morning market hours on Tuesday over weak cues from Wall Street and rising fears over winding down AI trade.

US Treasury yields have remained steady for the last few days, at near 4.91% levels amid the tech selloff.

Foreign institutional investors (FIIs) purchased around ₹3,114.68 crore worth of capital market assets across the exchanges on Monday, November 2.

Top gainers & losers on Tuesday

Stocks like InterGlobe Aviation (IndiGo), Shriram Finance, Asian Paints, Tata Consumer Products, HDFC Bank, and Bajaj Finance were among the top gainers during the morning market hours on Tuesday, November 3.

IndiGo was up 3%, Shriram Finance was up 2.4%, Asian Paints was up 1.8%, Tata Consumer Products was up 1.6%, HDFC Bank was up 1.5%, and Bajaj Finance was up 1.3%, according to the NSE data.

Others like ONGC, Power Grid Corp., Apollo Hospitals, NTPC, Cipla, and Sun Pharma were among the top losers on the NIFTY50 index as of the morning trade.

ONGC was down 2%, Power Grid Corp. down 1.3%, Apollo Hospitals down 1.3%, NTPC down 1%, Cipla down 0.9%, and Sun Pharma down 0.95%.

Out of the 50 stocks listed on the NIFTY50 index, 34 stocks were trading in positive territory as of the morning hours, while the remaining 16 stocks were down in the red, according to the exchange data.