India Pre-Market Report Today |kartalks

Indian Markets Pre-Market Report – Monday, 10 November 2025

🌏 Global cues & GIFT Nifty check

Wall Street ended last Friday on a mixed note. The Nasdaq slipped again, capping its worst week since April, as investors stayed nervous about stretched tech valuations and the long US government shutdown. The S&P 500 and Dow managed small gains, helped by hopes that a shutdown deal may finally come together.

In Asia this morning, the tone is a bit better. Most Asian indices are trading higher as traders react to those same shutdown-resolution headlines and slightly calmer global risk sentiment.

Europe, however, closed the previous week on a softer note. Tech stocks led declines and the STOXX 600 fell around 0.7–0.8% on Thursday, with euro-zone data still mixed.

On the derivatives side, GIFT Nifty futures are mildly positive before our open. Around 7:00 am IST, the near-month contract was hovering close to 25,590–25,595, up roughly 0.2% (about 50–55 points) from Friday’s Nifty 50 close, hinting at a slightly positive to flat start for Dalal Street.

📉 How the Indian market closed on Friday (7 Nov)

Friday was a choppy session but the indices finally stabilised:

Nifty 50 closed at 25,492.30, down 17 points (-0.07%).

Sensex ended at 83,216.28, lower by about 95 points (-0.11%).

Bank Nifty outperformed, closing near 57,876.8, up 0.56% as banking and financial names attracted buying.

Breadth was almost even with slightly more losers than gainers. Metals were the clear bright spot, while IT, FMCG, consumer durables and telecom indices slipped about 0.5%. Midcaps edged up and small caps were flat.

Stock-wise, Shriram Finance, Adani Enterprises, Tata Steel, Bajaj Finance and M&M were among Nifty gainers, while Bharti Airtel, Tata Consumer, Apollo Hospitals, Tech Mahindra and IndiGo dragged the index.

The overall message: the market defended support levels after an early sell-off but hasn’t broken out on the upside either.

📊 Key index levels – Nifty, Bank Nifty, Sensex

These zones are based on Friday’s close, recent highs/lows and nearby moving averages:

Nifty 50 (25,492)

Immediate support: 25,350–25,300 (Friday’s intraday low band and nearby support on recent charts) Deeper support: 25,150

Immediate resistance: 25,650–25,700 (close to short-term moving averages and last week’s supply area; 10-day EMA is around 25,700). Next resistance: 25,850

Bank Nifty (57,877)

Support: 57,300–57,100 (close to Friday’s low of 57,158) Next support: 56,700

Resistance: 58,200–58,500 (just above Friday’s high of 58,001 and previous swing tops)

Sensex (83,216)

Support: 82,700–82,500

Resistance: 83,800–84,000

Traders will watch whether Nifty can get back and hold above 25,650–25,700; if not, the index may spend more time consolidating in a sideways band.

📈 Derivatives: Open Interest, PCR & India VIX

The options data has cooled off a bit but is not flashing panic:

The Nifty put-call ratio (PCR) for 7 November is around 0.9, higher than the previous session’s 0.77 – that tells us put writers slowly came back on dips, but call writers are still active near the top. Institutional derivatives reports show a modest build-up in Nifty futures open interest, suggesting more positional activity rather than pure intraday noise.

Volatility is still low:

India VIX closed near 12.56 on Friday – up slightly day-on-day but still closer to the lower end of its 52-week range, which keeps option premiums relatively cheap.

Low VIX plus rising PCR usually points to a range-bound to mildly positive market, but with the global tech correction in the background, any negative global headline can quickly shake that calm.

⚖️ India–US trade talks – why the market cares

On the macro front, the India–US trade story is back in focus:

Media reports suggest India and the US are close to a long-pending trade agreement that could sharply cut US tariffs on Indian imports from around 50% to the mid-teens for some categories. Both Finance and Commerce ministries have said negotiations on a bilateral trade agreement (BTA) are “going on very well”, though sensitive issues remain.

For markets, any concrete deal would be positive for export-oriented sectors – textiles, engineering, pharma, IT services and specialised manufacturing – but timelines are still uncertain, so traders will treat it more as a medium-term theme than a one-day trigger.

📜 New SEBI rules – what’s changing in F&O

SEBI continues to tighten the derivatives framework, with a clear focus on risk control and protecting retail traders:

From 1 October 2025, single-stock derivative exposure per entity is capped at 10% of MWPL for individual traders, 20% for proprietary brokers, and 30% for FPIs and brokers combined. SEBI has also rolled out fresh eligibility criteria for index derivatives, so only indices with sufficient liquidity and size can have F&O contracts listed. A new pre-open session for F&O is scheduled to start in December, aimed at reducing wild opening gaps. Recent commentary from the SEBI chairman confirms there will be no outright ban on weekly options, but changes will arrive in a calibrated way.

For day-traders, this means: lower leverage, more margin discipline and a stronger push towards risk-managed strategies instead of lottery-style weekly options punting.

💰 FII–DII flows

Friday’s cash-market flows were actually supportive:

FIIs bought roughly ₹18,485 crore and sold around ₹13,904 crore, for a net buy of about ₹4,581 crore.

DIIs purchased about ₹19,470 crore and sold around ₹12,795 crore, giving a net buy of nearly ₹6,675 crore.

So, despite the cautious headline indices, both foreign and domestic institutions were net buyers, which is mildly comforting for bulls.

🪙 Commodities & currency check

Gold & Silver (India)

24K gold is around ₹12,100 per gram, while 22K is near ₹11,184 per gram.

Silver is quoting close to ₹1,47,800 per kg (about ₹148 per gram).

Prices have corrected from recent highs, which is good news for jewellery demand but also signals some cooling of global risk hedging.

Crude oil

Brent crude is trading around $63 -64 per barrel in early Asian trade, up roughly 0.7% this morning as traders bet on a resolution to the US government shutdown and reassess demand worries.

Lower-60s Brent is broadly positive for India’s macros – it keeps inflation and the current account under control.

USD–INR

The rupee closed Friday near 88.66 per US dollar, almost flat versus the previous day, and live interbank data shows it still hovering around the 88.6–88.7 zone.

Stable currency plus softer crude gives RBI some breathing room.

📌 IPO & primary market update

The big talking point in the primary market is the Groww (BillionBrains Garage Ventures) IPO:

The issue saw strong demand, with overall subscription around 17.6× on Day 3. The allotment is scheduled to be finalised today (10 November). The grey-market premium (GMP) has cooled off and is currently around ₹5, signalling a more sober listing expectation.

On the pipeline side, broker and exchange notes highlight upcoming IPOs such as Emmvee Photovoltaic and PhysicsWallah, both opening this week, which will keep sentiment active in the broader market.

🧭 Short-term trading view

For today’s session:

With GIFT Nifty mildly green and volatility still low, the base case is a range-bound to slightly positive open, unless overnight global headlines flip risk sentiment.

Day-trade range for Nifty: Support 25,350–25,300 Resistance 25,650–25,700 Day-trade range for Bank Nifty: Support 57,300–57,100 Resistance 58,200–58,500

Short-term traders can look for buy-on-dip opportunities in themes that were strong on Friday – metals and select financials/PSU banks – as long as Nifty holds above 25,300. A clean break below that zone would argue for lightening leverage and waiting closer to 25,150.

🪙 Investment view – short term vs long term

Short term (days to weeks)

Focus on sector rotations rather than chasing gap-ups. Metals and PSUs are enjoying tailwinds from both results and policy hopes; private banks are key for any sustainable up-move. Avoid over-leveraging in weekly options; the new SEBI rules and low VIX can make sudden spikes more painful for naked sellers.

Long term (1–3 years and beyond)

FIIs turning net buyers again, stable crude, and progress on trade deals continue to support the India structural growth story. Long-term investors can use any meaningful correction towards strong supports to accumulate quality large caps in financials, IT services, manufacturing, and consumption, rather than trying to time every small swing.