Indian equity indices closed marginally higher on November 14, following a highly volatile session driven by the dual pressures of the Bihar election outcome and weak global cues. For most of the day, markets oscillated between losses and brief recoveries before a strong late-afternoon rebound pushed them into the green.
At the close, the Sensex ended 84 points (0.1%) higher at 84,563, while the Nifty finished 31 points up at 25,910. Global sentiment was jittery after Wall Street fell sharply overnight, led by declines in tech majors like Nvidia, as investors moderated hopes for near-term interest rate cuts amid lingering inflation worries.
Sectoral trends were mixed, reflecting high selectivity. PSU banks led the gains at 1.17%, followed by firm moves in pharma and FMCG. Energy and infrastructure also saw mild upticks. Conversely, IT declined by 1.03%, with auto, metal, and realty sectors ending lower. The broader markets showed resilience, with the Nifty Small-cap 100 rising 0.38% and the Midcap 100 gaining 0.08%.
Technically, the Nifty showed strong signs of a pullback, forming a bull candle on the weekly chart after two weeks of corrective decline. The bias remains positive, with a sustained move above the last month’s high of 26,100 expected to open upside toward the previous all-time high of 26,277. Key short-term support for the Nifty is placed at the 25,500–25,300 range.
The Bank Nifty also signals a continuation of its positive bias, having recently rallied to a fresh all-time high of 58,615. The index is consolidating within the 57,200–58,600 range and is expected to break the upper band and head towards 59,200 in the coming sessions. Strong support for the Bank Nifty is situated at 57,300–57,100.
