Muted start seen for Sensex, Nifty; Lenskart, Swiggy, Force Motors, Nykaa shares in focus

Indian equities are expected to start the week on a muted note, undermining firm cues from global peers. At 7:15 AM, Gift Nifty futures were trading 6.5 points higher at 25,584, indicating a flat opening for the BSE Sensex and NSE Nifty.

On the global front, U.S. stocks ended on mixed note on Friday, weighed down by losses in artificial intelligence stocks, while the ongoing government shutdown added to investors’ fears. The tech-heavy Nasdaq Composite fell 0.2%, while the S&P 500 and Dow Jones Industrial Average pared losses to close up by 0.1% each. 

Meanwhile, Asian markets started the day on a firm note, with the Japan’s Nikkei 225 rallying nearly 1% in the early trade. South Korea’s KOSPI was best performer in the region, surging over 2%, while markets in China and Hong Kong were also trading higher.

According to Ajit Mishra, SVP – Research, Religare Broking, this week will be crucial for the market, with key CPI and WPI inflation data due, alongside quarterly results from heavyweights like Bajaj Finance, ONGC, Bajaj Finserv, Biocon, Ashok Leyland, Asian Paints, Tata Steel, BPCL, Marico, and Oil India will be released. Global cues from AI-driven market movements and trade developments will also shape investor sentiment.

Markets are likely to stay volatile amid global uncertainty and a heavy earnings calendar. He advised a stock-specific approach, with preference for banking (especially PSU banks), auto, and select metal stocks showing relative strength.

“Traders should maintain hedged positions and avoid speculative bets. Investors, meanwhile, should focus on companies with strong earnings quality and long-term growth visibility,” he added.

Market extended weekly losses

Indian equities ended lower for the second straight week as persistent foreign fund outflows, mixed corporate earnings, and cautious global cues weighed on sentiment. Despite optimism over progress in India–U.S. trade talks, investors remained guarded through the holiday-shortened week.

Both benchmark indices fell more than 0.8%, with the Sensex closing at 83,216.28 and the Nifty50 settling at 25,492.30, marking their second consecutive weekly decline.

Most sectors ended in the red, led by losses in metal, IT, and FMCG counters. Selective strength in financials and banking provided some cushion. Among the broader indices, the midcap index ended flat while the smallcap index declined 1.7%, reflecting profit booking in the broader market.

FIIs selling spree continue

Foreign investors have resumed heavy selling in November after turning net buyers in October.

“While October witnessed net FII buying of ₹3,902 crore, November has started with FIIs turning sellers on every trading day so far. The net sell figure through exchanges till November 8 stood at ₹13,367 crore,” said V.K. Vijayakumar, Chief Investment Strategist, Geojit Financial Services.

This takes total FII outflows in 2025 to a massive ₹2.07 lakh crore, explaining India’s relative underperformance compared to global peers this year.

Stocks to watch today

Lenskart: Shares of Lenskart Solutions will make its debut on the BSE and NSE today. The company’s ₹7,278 crore IPO, comprising a Rs 600 crore fresh issue and a Rs 6,678 crore offer for sale, was subscribed a decent 28 times.

Swiggy: The board of the company has approved raising up to ₹10,000 crore via a qualified institutional placement (QIP).

Nykaa: FSN E-Commerce Ventures Ltd, which operates under the Nykaa brand, reported a sharp improvement in quarterly performance. Net profit rose to ₹34.4 crore from ₹10 crore a year earlier, while revenue grew 25.1% to ₹2,346 crore. EBITDA surged 53% to ₹158.5 crore, and operating margin improved to 6.7% from 5.5%, driven by strong growth across both beauty and fashion segments.

Patanjali Foods: The company has declared an interim dividend of ₹1.75 per equity share for FY2025–26. The record date for determining eligible shareholders is November 13, and the dividend will be paid on or before December 7, 2025, the company said in a regulatory filing.

Force Motors: The auto firm delivered a robust performance in the September quarter, with net profit surging to ₹350.6 crore from ₹135 crore a year ago. Revenue grew 7.2% year-on-year to ₹2,081 crore, while EBITDA rose 28.3% to ₹362.1 crore.

Bajaj Auto: The firm posted a 23.6% year-on-year increase in consolidated net profit at ₹2,479 crore for the September quarter, while revenue climbed 13.7% to ₹14,922 crore.

Shipping Corporation of India: The PSU reported weaker Q2 earnings, with net profit falling 35% year-on-year to ₹189 crore from ₹291 crore in the corresponding period last year. Revenue declined 7.7% to ₹1,338.8 crore, while EBITDA dropped 23.7% to ₹406 crore.

Ashoka Buildcon: The firm has secured a letter of acceptance from North Western Railway, Ajmer, for a project valued at ₹539.35 crore.

Trent: Retail chain operator reported an 11.3% year-on-year rise in net profit to ₹373 crore for the September quarter. Revenue increased 15.9% to ₹4,817 crore, while EBITDA jumped 26.5% to ₹816.9 crore.

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