Nifty may lose around 170 points at open after sharp rally

SENSEX 79,310.01

+ 2,008.61

NIFTY 24,536.60

+ 576.00

CRUDEOIL 8,547.00

+ 183.00

GOLD 144,250.00

+ 1,016.00

SILVER 187,346.00

 -389.00

SENSEX 79,310.01

+ 2,008.61

NIFTY 24,536.60

+ 576.00

NIFTY 24,536.60

+ 576.00

CRUDEOIL 8,547.00

+ 183.00

CRUDEOIL 8,547.00

+ 183.00

GOLD 144,250.00

+ 1,016.00

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Infosys ADR ends higher despite selloff in Nasdaq

By KS Badri Narayanan

Updated - November 06, 2026 at 08:59 AM.

Analysts expect Indian markets to remain strong, as foreign portfolio investors turned heavy buyers.

After a stellar rally on Thursday, Indian markets are expected to open on weak note, as global markets are witnessing heavy sell-off. Gift Nifty at 24,415, signals a gap down opening of about 170 points.

Meanwhile, sell-off in artificial intelligence stocks has taken a heavy toll in global markets: Nasdaq plunged 5.52 per cent, that triggered ripple effect in South Korean markets where Kospi plunged by almost 9 per cent at the market open on Friday, triggering a trading halt on the exchange for about 20 minutes.

However, despite across-the-globe sell off, American Depository Receipts (ADR) of Infosys jumped 4.6 per cent while Wipro ended on flat note. ADRs of HDFC Bank and ICICI Banks also ended higher, signalling resilience of Indian stocks.

Analysts expect Indian markets to remain strong, as foreign portfolio investors turned heavy buyers. In fact, their Thursday’s buying of ₹14,974.68 crore is their largest single-day buying session in over six years.

Indian Inc Q2 financial performance has also helped markets stay resilient as most companies’ results were largely better than expected. 

“Global markets have come under significant selling pressure following a sharp overnight sell-off on Wall Street, triggered by a broad-based unwinding of AI-related trades and heavy losses in semiconductor stocks. The Dow Jones Industrial Average fell 3.45 per cent, while the S&P 500 and Nasdaq Composite declined 4.36 per cent and 5.52 per cent, respectively, pushing the latter two benchmarks into correction territory. The weakness extended across Asian markets, with Japan’s Nikkei 225 falling more than 5 per cent and South Korea’s KOSPI losing over 6 per cent, underscoring the extent of the risk-off sentiment across global equities,” said Ponmudi R, CEO of Enrich Money.

The sharp correction in US technology stocks and the subsequent weakness across Asian markets could spill over into domestic equities, despite improving foreign fund flows and relatively moderate crude oil prices. Investors are likely to remain cautious, with global technology valuations, the sustainability of FII buying and movements in crude oil prices emerging as key determinants of near-term market direction, he cautioned.

Meanwhile, WTI crude oil has staged a technical rebound, with prices moving towards the $91-per-barrel mark. The rebound in crude oil prices towards the $91-per-barrel mark, following a brief one-day pullback, keeps concerns over India’s energy import bill, inflationary pressures and external balances firmly in focus. 

Published on November 6, 2026

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