Sensex, Nifty snap 3-day winning streak as oil prices, global jitters weigh

The key equity benchmarks ended lower on Friday, snapping a three-session winning streak as rising crude oil prices and weak global cues dampened investor sentiment. Brent crude advanced amid fading hopes of a near-term resolution to the Iran conflict, while higher US Treasury yields strengthened the dollar and fuelled concerns over further Federal Reserve rate hikes.

Sentiment also remained fragile amid uncertainty surrounding Nvidia CEO Jensen Huang's reported sudden resignation, which added to concerns over the artificial intelligence sector. The Nifty settled below the 25,150 mark. All sectoral indices on the NSE ended in negative territory, with realty, auto and metal stocks leading the losses.

The S&P BSE Sensex declined 318.56 points or 0.39% to 81,59245. The Nifty 50 index dropped 155.05 points or 0.61% to 25,144.30. In the past three sessions, the Sensex and the Nifty jumped 1.25% and 1.21%, respectively.

Mahindra & Mahindra (down 1.94%), TCS (down 1.43%) and Larsen & Toubro (down 0.37%) were major Nifty drags today.

In the broader market, the Nifty MidCap 150 Index fell 0.35% and the Nifty SmallCap 250 Index tumble 0.30%.

The market breadth was weak. On the NSE, 1,445 shares rose and 2,179 shares fell. A total of 97 shares were unchanged.

The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, fell 5.06% to 15.78.

Numbers to Track:

In the commodities market, Brent crude for December 2026 settlement shed 54 cents or 0.56% to $95.28 a barrel.

The yield on India's 10-year benchmark federal paper rose 0.73% to 7.302 compared with the previous session close of 7.249.

In the foreign exchange market, the rupee edged lower against the dollar. The partially convertible rupee was hovering at 94.2025 compared with its close of 94.1200 during the previous trading session.

MCX Gold futures for 4 December 2026 settlement rose 0.35% to Rs 1,36,700.

The US Dollar Index (DXY), which tracks the greenback's value against a basket of currencies, was up 0.04% to 103.21.

The United States 10-year bond yield advanced 0.53% to 5.129.

Global Market:

Dow futures jumped 91 points, signalling a positive opening for US stocks.

European indices advanced on Friday despite rising global bond yields and concerns over Nvidia's leadership transition weighed on sentiment. Markets also assessed expectations of tighter US monetary policy, with Treasury yields climbing amid bets on a possible Federal Reserve rate hike in December.

Asian market ended mixed following overnight losses on Wall Street. Nvidia remained in focus after co-founder and CEO Jensen Huang stepped down on Thursday. Chief Financial Officer Colette Kress was named interim CEO as the company searches for a successor. Huang's departure raised concerns about the leadership of the AI chipmaker and its wider implications for the artificial intelligence industry.

US stocks ended lower on Thursday, as Nvidia's leadership change unsettled investors and rising oil prices added to inflation concerns. The Dow Jones Industrial Average declined 189.40 points or 0.36% to 52,297.09. The S&P 500 fell 26.98 points or 0.35% to 7,592.40, while the Nasdaq Composite dropped 100.10 points or 0.39% to 25,366.09.

The benchmarks recovered from steeper early losses but ended in negative territory. The S&P 500 had fallen nearly 1% during the session before paring its losses. Energy stocks gained 1.5%, making the sector the best performer among the major S&P 500 industry groups.

Nvidia shares fell 4.34% to $166.19 after co-founder and chief executive Jensen Huang resigned with immediate effect. The stock had plunged as much as 14.3% during the session before recovering part of its losses.

The company appointed chief financial officer Colette Kress as interim chief executive while its board searches for a permanent successor. Harvey C. Jones was appointed chairman of the board. The company did not disclose a reason for Huang's resignation in its announcement.

Nvidia's competitors Advanced Micro Devices and Broadcom gained 5.86% and 5.54%, respectively. Arista Networks advanced 5.06%.

AI infrastructure stocks, however, faced selling pressure. Nebius Group plunged 16.84% after lowering its 2026 revenue outlook to the lower end of its previous guidance range of $3 billion-$3.4 billion.

US initial jobless claims increased by 9,000 to 200,000 in the week ended 7 November 2026, compared with economists' expectations of 195,000. The previous week's reading was revised to 191,000.

Continuing claims declined by 20,000 to 1.697 million in the week ended 31 October 2026. The figures indicated that layoffs remained relatively low despite higher borrowing costs and uncertainty surrounding the economic outlook.

Separately, existing home sales declined 5.5% in October to an annualised rate of 3.75 million units, compared with the market expectation of 3.85 million. This was the lowest level since August 2010. Sales also declined 8.8% year-on-year as higher mortgage rates weighed on housing demand.

Investors continued to price in further Federal Reserve tightening following stronger-than-expected inflation data earlier in the week. Market expectations indicated a near-certain 25-basis-point rate increase in December, with some pricing for a larger move.

The US Producer Price Index for October is scheduled for release later on Friday. Economists expect headline producer inflation to rise 0.4% month-on-month and 6.6% year-on-year, compared with increases of 1.3% and 6.3%, respectively, in September. These are forecasts, not released figures.

Stocks in Spotlight:

MSTC hit upper circuit of 20% after the company's consolidated net profit rose 57.73% to Rs 74.92 crore while net sales rose 29.42% to Rs 110.02 crore in Q2 September 2026 over Q2 September 2025.

Vodafone Idea fell 3.08% after the telecom operator reported a wider consolidated net loss of Rs 5,975 crore in Q2 FY27, compared with Rs 5,524 crore in the corresponding quarter last year. The loss also widened from Rs 3,754 crore in Q1 FY27. Revenue from operations increased 6.2% year on year to Rs 11,884 crore from Rs 11,195 crore. Sequentially, revenue grew 1.7% from Rs 11,689 crore in Q1 FY27.

Ola Electric Mobility fell 3.05% after the company reported a 39% year-on-year decline in consolidated revenue from operations to Rs 421 crore in Q2 FY27. Revenue also declined 7.5% sequentially from Rs 455 crore in Q1 FY27. The consolidated net loss narrowed to Rs 362 crore from Rs 418 crore a year earlier. However, the loss widened from Rs 336 crore in the previous quarter.

Hitachi Energy India surged 10.68% after the company reported a 20.5% year-on-year increase in standalone net profit to Rs 318.5 crore in Q2 FY27. Sequentially, net profit increased 8.3% from Rs 294.2 crore in Q1 FY27. Revenue from operations surged 63.5% year on year to Rs 2,996.5 crore from Rs 1,832.6 crore. Sequentially, revenue grew 20.2% from Rs 2,493.7 crore.

Fiem Industries surged 9.77% after the company reported a 31.9% year-on-year increase in consolidated net profit to Rs 84 crore in Q2 FY27. Sequentially, net profit rose 29.5% from Rs 64.88 crore in Q1 FY27. Revenue from operations increased 31% year on year to Rs 937.34 crore from Rs 715.39 crore. Sequentially, revenue grew 20.9% from Rs 775.39 crore.

Amber Enterprises India rose 9.07% after the company reported a 60% year-on-year increase in consolidated revenue to Rs 2,627 crore in Q2 FY27. Operating EBITDA increased 30% year on year to Rs 127 crore from Rs 98 crore. However, the operating EBITDA margin declined to 4.8% from 5.9% a year earlier. Margins were impacted due to commodity inflation, foreign currency fluctuation, minimum wage revision and Sri City new plant cost which is under ramp-up phase. The company reported an adjusted net loss of Rs 57 crore, compared with Rs 32 crore in Q2 FY26. Pre-tax loss was at Rs 87 crore compared with a loss of Rs 48 crore.

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