By Bharath Rajeswaran and Vivek Kumar M
(Reuters) -India’s equity benchmarks were little changed on Monday with analysts expecting consolidation after strong gains last month, while stock-specific reactions to quarterly earnings supported broader market activity.
The Nifty 50 rose 0.16% to 25,763.35, while the BSE Sensex added 0.05% to 83,978.49.
Thirteen of the 16 major sectors logged gains. The small-caps and mid-caps rose 0.7% and 0.8%, respectively.
The 50-stock index gained 4.5% in October – its best performance since March.
“We expect November to be a slow and steady consolidation month for the markets. While earnings have not disappointed, the expectation was low,” said Dharmesh Kant, head of equity research at Cholamandalam Securities.
“Investors will watch whether the strong consumption trend seen during festival season last month sustains.”
Two other analysts also said there will be further consolidation near current levels until investors get clarity on the global trade front.
State-owned lenders rose 1.9%, leading sectoral gains and extending last week’s 4.7% rally, amid reports of a possible hike in foreign investment.
Bank of Baroda surged 4.6% after posting a stronger-than-expected quarterly profit.
Shriram Finance jumped 6.4% to a record high on solid earnings and reports of MUFG’s interest in buying a stake. The company has denied the reports.
Tata Consumer advanced 2.8% after a profit beat, while Vodafone Idea soared 9.3% after a court clarification raised hopes for relief on its AGR dues.
Godrej Consumer rose 5.5% after analysts reaffirmed their positive outlook for earnings in the second half of fiscal 2026, despite a decline in September-quarter profit caused by sales disruptions from GST cuts.
Cement maker Ambuja Cements and lifestyle company Arvind Fashions climbed 2.1% and 8.6% after posting a rise in September quarter profit.
Maruti Suzuki India fell 3.3% after Jefferies cut its rating to “hold” on market share concerns.
(Reporting by Vivek Kumar M and Bharath Rajeswaran; Editing by Sumana Nandy and Nivedita Bhattacharjee)
