Sensex Falls 500 Points, Nifty Below 25,600 as IT and Metal Stocks Drag Markets Lower

The Indian stock market witnessed a notable correction on November 4, as both benchmark indices — Sensex and Nifty — slipped amid weak global cues and investor caution ahead of key US monetary policy updates.

The Sensex fell 526.95 points (0.63%) to close at 83,451.54, while the Nifty 50 declined 175.55 points (0.68%) to end at 25,587.80. Market breadth was negative, with 2,358 stocks declining, 1,436 advancing, and 136 remaining unchanged on the BSE.

📉 Sector Performance

Selling pressure was visible across most sectors. IT, metal, banking, and auto stocks were the biggest drag on the indices, while consumer durables showed relative strength.
The midcap and smallcap indices also dipped nearly 1% each, reflecting weakness beyond frontline stocks.

Market sentiment remained subdued due to:

• Ongoing uncertainty around the US Federal Reserve’s next move on interest rates.
• Muted Q2 earnings from several major Indian corporates.
• Lack of clarity in the ongoing US–India trade discussions.

📊 Earnings Snapshot

Analysts at Motilal Oswal Financial Services said that while the overall market trend remains steady, earnings growth is concentrated in a few sectors. The Oil & Gas industry led with a nine-fold jump in profits, followed by technology, cement, capital goods, and metals, which together contributed 86% of the total earnings growth in Q2 FY25.

🔍 Market Outlook

According to ICICI Securities, the current dip is seen as a consolidation phase rather than a trend reversal. They expect the Nifty to gradually move toward its all-time high of 26,300, maintaining that the broader structure remains bullish.