Nifty opens in red as Wall Street tech sells off; IT stocks under pressure

SENSEX 79,795.25

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NIFTY 24,618.75

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CRUDEOIL 8,613.00

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GOLD 141,826.00

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SILVER 184,000.00

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SENSEX 79,795.25

+ 485.24

NIFTY 24,618.75

+ 82.15

NIFTY 24,618.75

+ 82.15

CRUDEOIL 8,613.00

+ 53.00

CRUDEOIL 8,613.00

+ 53.00

GOLD 141,826.00

 -2,269.00

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Heavy losses in US technology stocks triggered widespread Asian selling, even as sustained foreign fund inflows offered some support to Indian equities.

By Anupama Ghosh

Updated - November 06, 2026 at 11:13 AM.

Indian benchmark indices opened mixed on Friday as Wall Street’s technology sell-off rattled Asian markets, even as sustained FII buying offered some support to domestic equities.

Benchmark indices opened lower on Friday, November 6, 2026, as a sharp overnight sell-off on Wall Street dragged Asian markets into a broad risk-off session. The Nifty 50 opened at 24,538.20 and slipped to 24,484.95, down 51.65 points or 0.21 per cent, from its previous close of 24,536.60. The Sensex, which had closed at 79,310.01, opened at 79,413.66 and was trading at 79,349.62, up a marginal 39.61 points or 0.05 per cent at 9.18 am, reflecting mixed early trade.

The gap-down start was widely anticipated after Gift Nifty signalled an opening around 24,415, down approximately 184 points. The previous session on November 5 had seen the Nifty surge 576 points, or 2.40 per cent, in its sixth consecutive winning session, with the Sensex gaining 2,009 points.

Wall Street rout rattles global markets

The global trigger was a severe technology-led selloff on Wall Street, where the Nasdaq tumbled 5.52 per cent, the S&P 500 fell 4.36 per cent, and the Dow Jones Industrial Average lost 3.45 per cent. Nearly ₹1.3 trillion in market capitalisation was erased within 30 minutes of the US market opening. SanDisk fell 15 per cent, AMD dropped 12 per cent, and Tesla shed 10 per cent, while Nvidia, TSMC, and Broadcom also faced significant selling pressure.

The rout was linked to concerns over tighter regulation of artificial intelligence infrastructure following Democratic gains in the US midterm elections. “The big rout of 5.6 per cent in Nasdaq was triggered on concerns of big slowdown in data centre spending since the Democrats are opposed to massive data centre investment,” said Dr V K Vijayakumar, Chief Investment Strategist at Geojit Investments Limited. “This tech rout, particularly the sharp deceleration in AI trade, will turn out to be beneficial for India.”

Asian markets suffer steep losses

Asian markets bore the brunt of the selloff. Japan’s Nikkei 225 plunged about 5.9 per cent, nearing bear-market territory after falling roughly 20 per cent from its June peak. South Korea’s Kospi fell more than 8.5 per cent, triggering a circuit breaker that briefly halted trading. Samsung Electronics and SK Hynix each fell more than 9 per cent. Taiwan’s benchmark index declined 7.5 per cent.

Financials, auto stocks lead previous session’s rally

Domestically, buying across financials and auto stocks drove Thursday’s session. The Capital Market and Financial Services indices rallied over 4 per cent, while the Auto index gained 4.14 per cent. The Defence index was the notable laggard, losing 1.70 per cent.

Among Nifty 50 gainers on Thursday, TCS rose 2.38 per cent to ₹2,555, Infosys climbed 2.10 per cent to ₹1,191.90, and HCL Technologies gained 1.99 per cent to ₹1,459. Mahindra & Mahindra advanced 1.96 per cent to ₹3,188.90, while Bharti Airtel added 1.84 per cent to ₹2,094.80.

On the losing side, Hindalco fell 3.93 per cent to ₹901, Shriram Finance dropped 3.11 per cent to ₹934, and Asian Paints declined 2.62 per cent to ₹2,457.60. BEL shed 2.29 per cent to ₹386.05, and Tata Steel slipped 1.92 per cent to ₹178.51.

FII buying supports domestic market

Foreign institutional investors have been net buyers for five consecutive sessions, with ₹14,975 crore in net equity purchases recorded on November 5 alone — the largest single-day inflow during the period. Domestic institutional investors, however, remained net sellers with outflows of ₹10,444 crore. “FIIs have bought equities for ₹35,781 crores in the last five trading days,” noted Vijayakumar. “Despite selling and profit booking by DIIs, the market is likely to remain resilient since FII buying will continue in the changed global market construct.”

Crude oil, gold and silver in focus

On commodities, Brent crude was approaching the $100-per-barrel mark, while WTI recovered toward $91 per barrel. Gold futures on MCX were trading at ₹1,43,970 per 10 grams, up 0.51 per cent, while silver futures fell 0.44 per cent to ₹1,86,901 per kg. “The divergence between gold and silver calls for caution,” said Vikram Subburaj, CEO of Giottus. “Avoid chasing short-term price moves.”

Nifty support at 24,300–24,350; resistance at 24,700–24,800

Technically, the Nifty’s RSI stood at 74.69 in the previous session, indicating stretched bullish momentum. “Despite the sharp overnight global weakness and lower Gift Nifty indication, the domestic technical structure remains strongly bullish, supported by consecutive gains, major trendline breakouts and substantial FII inflows,” said Hitesh Tailor, Technical Research Analyst at Choice Broking. Key support for the Nifty is placed at 24,300–24,350, with resistance at 24,700–24,800. Bank Nifty, which closed at 57,773.65 on Thursday, faces resistance at 58,000–58,290, with support at 57,250.

“India may initially demonstrate relative resilience amid the global market correction,” cautioned Hariselvan Radhakrishnan, Founder and CEO of HST Wealth, “although this should not be mistaken for immunity to broader risk aversion.”

Published on November 6, 2026

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