Monday, 2 November 2026. GIFT Nifty was at 23,254 at 8:07 AM, 152.5 points (0.66%) above its level at 3:30 PM on Friday. On Wall Street, Friday ended with a sell-off in technology shares: the Nasdaq Composite fell 2.86% after Intel lost 28.6%. Friday's 0.51% gain in the Nifty is covered in the post-market report for 30 October.
GIFT Nifty was still trading when Wall Street closed at 1:30 AM India time. Its Friday night session ran to 2:45 AM on Saturday and ended at 23,242.5. It reopened at 23,266 at 6:30 AM today, touched 23,310 and dipped to 23,212.5 in the 7:15 AM quarter-hour (what GIFT Nifty can and cannot tell you).
Intel's 28.6% drop leads a chip sell-off
Intel fell 28.6% on Friday after a profit forecast below analysts' estimates, Trading Economics reported; the Associated Press called it the company's worst day since 1974. The selling spread across chip makers: AMD lost 11%, Broadcom 5.5% and Nvidia 4.2%. Amazon, whose results came out on Thursday evening, closed 1.4% lower. The AP said worries had grown that the rush into artificial intelligence had pushed prices too high.
| US index | Friday 30 October close | Change |
|---|---|---|
| Dow Jones | 51,770.31 | −572.25 (−1.09%) |
| S&P 500 | 7,580.07 | −140.32 (−1.82%) |
| Nasdaq Composite | 25,437.00 | −747.73 (−2.86%) |
| Russell 2000 | 2,811.84 | −47.37 (−1.66%) |
Energy companies went the other way, with ExxonMobil up 2.2% and Chevron 1.7%. The 10-year Treasury yield closed little changed at 4.93% and was 4.94% this morning; Trading Economics puts its fall over October at about 36 basis points.
Tokyo followed Wall Street down. The Nikkei 225 was at 63,050 this morning, 240.11 points (0.38%) lower, with Kioxia down 13%, Ibiden 6% and Screen Holdings 5.8%, Trading Economics reported. Banks fell too: Mitsubishi UFJ was 2.3% lower.
Brent slips back below $111
Brent's January contract settled at $113.43 a barrel on Friday, up $2.63, FinanceFeeds reported, and WTI at $104.12. The December Brent contract expired the same day at $117.64, so the headline price dropped by the difference when quotes moved to January. Brent gained 13.6% over October.
This morning Brent was at $110.37, down $3.06 (2.70%), and WTI at $101.01, down 2.99%, according to Trading Economics, which linked the fall to reports of diplomatic efforts to end the Middle East conflict. Brent's four-year high, $116.72, was set on 23 October.
At an online meeting on Sunday the seven OPEC+ members that have been adjusting output (Saudi Arabia, Russia, Iraq, Kuwait, Algeria, Kazakhstan and Oman) left their December production targets unchanged, FinanceFeeds reported.
Reliance's refining profit rises 68%
Reliance Industries reported after Friday's close. Net profit attributable to owners was ₹25,548 crore for the September quarter, up 41% from ₹18,165 crore, on revenue from operations of ₹3,32,861 crore, up 28.5%, Upstox reported. EBITDA rose 24% to ₹62,409 crore.
Most of the increase came from oil-to-chemicals, whose revenue rose 44.2% and EBITDA 68% to ₹25,203 crore from ₹15,008 crore. That is the refining and petrochemicals business; Upstox quoted the company as citing tight fuel markets and better petrochemical margins.
Jio Platforms, in its first results since listing on 28 October, reported net profit of ₹8,389 crore, up about 14%, on revenue of ₹40,475 crore, up 11.4%. Average revenue per user was ₹218.8 a month, according to Upstox.
Foreign investors turn buyers on Friday
NSE's provisional data show foreign institutions bought a net ₹3,598.50 crore of shares on Friday, after net selling of ₹943.60 crore on Thursday. Domestic institutions sold a net ₹817.50 crore, against net buying of ₹1,924.40 crore the day before (how to read FII and DII data).
| Friday 30 October | Close | Change |
|---|---|---|
| Nifty 50 | 23,053.10 | +116.35 pts (+0.51%) |
| Sensex | 74,459.53 | +308.49 pts (+0.42%) |
| Bank Nifty | 54,686.95 | −222.70 pts (−0.41%) |
| India VIX | 15.30 | +0.18 (+1.19%) |
I could not find a published close for the rupee against the dollar on Friday, and Kite does not carry the spot rate, so it is left out.
A week of results, an election and a holiday
- Results today: ITC, Marico and Petronet LNG, according to both Upstox and Business Upturn. Business Upturn also lists Escorts Kubota, UPL, Container Corporation of India and National Aluminium Company.
- Results on Tuesday: State Bank of India, Bajaj Finserv, Lupin and Multi Commodity Exchange, per Business Upturn.
- Data today: the final October reading of India's manufacturing PMI. The reading published on 23 October was 54.9, against 55.1 in September. Services and composite PMIs follow on Wednesday.
- Overseas: Apple reports after the US close tonight, which is early Tuesday in India. US midterm elections are on Tuesday, 3 November, and the US jobs report on Friday, 6 November.
- Expiry: none today. The weekly Nifty F&O contracts expire on Tuesday, 3 November.
- Holidays: NSE is shut on Tuesday, 10 November and Tuesday, 24 November. The November monthly expiry moves to Monday, 23 November.
At 9:00
- GIFT Nifty against Friday's 3:30 PM level, and Brent's price at 9:00.
- The rupee's opening rate, which I could not source for Friday.
- Whether NSE's own page confirms Friday's provisional flow figures.
Sources
- GIFT Nifty, Nifty 50, Sensex, Bank Nifty and India VIX: Zerodha Kite market data
- FII and DII flows: NSE provisional data via 5paisa
- US index closes and Intel's worst day since 1974: Associated Press via La Nación
- Individual US stocks: Trading Economics; 10-year yield: Trading Economics; Tokyo: Trading Economics
- Oil: FinanceFeeds for settlements and OPEC+; Trading Economics for this morning's prices
- Reliance results: Upstox; Jio Platforms: Upstox and The Tribune
- Results calendar: Business Upturn and Upstox; PMI: Trading Economics; Apple: MacTrast
- 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.