Wednesday, 11 November 2026. Indian markets reopen after Tuesday's Diwali Balipratipada holiday, and GIFT Nifty, which traded through it, was at 25,329.5 at 8:05 AM: 292 points (1.17%) above its level at 3:30 PM on Monday and 36.5 points (0.14%) below its level at 3:30 PM on Tuesday. Overnight, US consumer prices rose faster than economists had forecast for October, Treasury yields jumped and all three major Wall Street indexes fell. Monday's session, when banks carried the Nifty 0.23% higher, is in the post-market report for 9 November.
Two days of GIFT Nifty against one Nifty close
The Nifty 50 last closed at 25,044.65 on Monday. GIFT Nifty is now 284.85 points above that close, and most of the gap opened during Tuesday's Indian holiday, when its 15-minute bars reached as high as 25,372. Since 3:30 PM on Tuesday it has drifted lower. GIFT Nifty is a futures price, so its distance from the spot index is not a measure of where the Nifty will open (what GIFT Nifty can and cannot tell you).
October CPI: 0.4% against a forecast of 0.3%
The US Bureau of Labor Statistics said on Tuesday that consumer prices rose 0.4% in October on a seasonally adjusted basis, and 0.3% excluding food and energy. The median forecast in a Bloomberg survey, reported by Business Standard on Sunday, had been 0.3% for the headline figure, after a 0.6% rise in September. The bureau did not publish year-on-year rates this month: it said October 2025 prices were never collected because of the government funding lapse that year.
The 10-year Treasury yield closed at 4.99%, from 4.90% in the previous session, according to Trading Economics, which said the inflation data had firmed up bets on further Fed rate increases. It also reported comments from two Federal Reserve officials: Governor Christopher Waller said he would back a 50 basis point increase in December if inflation kept accelerating, and Dallas Fed President Lorie Logan supported at least two more 25 basis point increases. The Fed's next decision is due on 9 December.
| US index | Tuesday 10 November close | Change |
|---|---|---|
| Dow Jones | 52,231.89 | −157.86 (−0.30%) |
| S&P 500 | 7,520.93 | −29.01 (−0.38%) |
| Nasdaq Composite | 25,065.87 | −187.26 (−0.74%) |
Among the large technology companies, Nvidia fell 5.47% and Microsoft 2.20%, Trading Economics reported.
Tokyo went the other way this morning. The Nikkei 225 was at 60,911, up 451.42 points (0.75%), with Taiyo Yuden 3.6% higher; Trading Economics tied the gain to stronger-than-expected results from the cloud computing company CoreWeave.
Brent holds near ten-week lows
Brent crude was at $92.35 a barrel this morning, up $0.86 (0.94%), and WTI at $86.58, up $0.54 (0.63%), Trading Economics reported. The small bounce follows a 5.9% drop on Monday. Brent is 13.41% lower than a month ago, and it was at $110.37 as recently as the morning of 2 November.
Trading Economics put the slide down to signs of easing tension between the United States and Iran: President Trump has suggested further strikes on Iran may not be needed, and oil shipments from the Middle East are close to their pre-war levels. Iran wants US sanctions and the naval blockade eased before it agrees to peace talks.
Foreign funds bought ₹7,212 crore on Monday
NSE's provisional data show foreign institutions bought a net ₹7,212.20 crore of Indian shares in the cash market on Monday, 9 November. Domestic institutions sold a net ₹7,172.50 crore, almost exactly offsetting them (how to read FII and DII data).
| Monday 9 November | Close | Change |
|---|---|---|
| Nifty 50 | 25,044.65 | +58.25 pts (+0.23%) |
| Sensex | 81,106.65 | +107.25 pts (+0.13%) |
| Bank Nifty | 59,741.25 | +890.60 pts (+1.51%) |
| India VIX | 17.42 | −1.01 (−5.48%) |
Changes are against Sunday's Muhurat trading session. I could not source a spot close for the rupee; the November dollar-rupee futures contract last traded at 94.03 on Monday, per Zerodha Kite market data.
Results, expiries and the next holiday
- Results today: Tata Power, Hindustan Copper, Garden Reach Shipbuilders & Engineers, Cupid and Triveni Turbine are among the companies reporting September-quarter numbers, according to both Business Upturn and Upstox.
- Expiry: none today. Tuesday's holiday moved this week's weekly Nifty expiry to Monday; the next one is on Tuesday, 17 November.
- Holidays: NSE is shut again on Tuesday, 24 November, so the November monthly expiry falls on Monday, 23 November.
Worth checking at 9:00
- Where GIFT Nifty stands against the Nifty's Monday close of 25,044.65, given two days of overseas news since then.
- How US Treasuries trade in Asian hours after Tuesday's inflation report.
- NSE's final flow figures for Monday, against the provisional numbers above.
Sources
- GIFT Nifty, Nifty 50, Sensex, Bank Nifty, India VIX and USD/INR futures: Zerodha Kite market data
- FII and DII flows: NSE provisional data via 5paisa
- US index closes: Associated Press via La Nación
- US inflation: US Bureau of Labor Statistics; forecast and September figure: Business Standard
- 10-year yield and Fed comments: Trading Economics; Fed meeting date: Regards of Wall Street
- US stocks: Trading Economics; Tokyo: Trading Economics; oil: Trading Economics
- Results calendar: Upstox and Business Upturn
- Holidays and expiry: NSE holiday list and expiry rules
This note summarises public news and data for information only. It is not investment advice or a recommendation to buy or sell any security, and I don't publish levels, targets or trade ideas. I am not registered with SEBI as an investment adviser or research analyst.