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Stock market prediction for Monday, 9 November, 2026: The Indian stock market is likely to open on a higher note as GIFT Nifty signalled a gap-up opening on Monday, 9 November, after both indices Sensex and Nifty wiped out their initial gains and ended lower on Sunday's Muhurat Trading session, marking the first instance in nine years that the benchmark indices closed in the red during the special Diwali trading session.
Meanwhile, Asian markets mostly fell on Monday; however, US stock futures were slightly higher on Sunday evening as investors await the release of key inflation data and earnings from major AI companies.
The benchmark indices began the special one-hour trading session on a positive note on Sunday but lost momentum towards the close, slipping into negative territory and ending near the day's lows. The Sensex declined nearly 29 points to settle at 80,999, while the Nifty 50 fell 44 points to close at 24,986.
The decline also brought an end to the six-session winning streak of both Sensex and Nifty. In the previous week, the Sensex had rallied a massive 6,569 points, while the Nifty had climbed nearly 9%.
The benchmark indices last ended a Muhurat Trading session in the red in 2017, when the Sensex registered a decline of 0.6%. Before that, both Sensex and Nifty had posted marginal losses in 2016. Overall, the indices have finished lower in just two of the past 10 special Muhurat Trading sessions.
"The Indian market closed marginally lower on Sunday’s special Muhurat Trading session, snapping its seven-session winning streak that had powered the strongest weekly rally since February 2021. The Nifty 50 declined 0.18% to close at 24,986.40, slipping just below the psychological 25,000 mark after opening higher at 25,070 and touching an intraday high of 25,132. The Sensex similarly eased 28.62 points (0.04%) to settle at 80,999.
Despite the mild pullback, selling pressure remained moderate and orderly, with sectoral performance mixed; Media and Pharma stood out as clear outperformers, both gaining over 1%, while most other sectors traded with a soft bias," Ponmudi added.
Gift Nifty was trading around the 25,018 level, up nearly 38 points or 0.15% from the Nifty futures’ previous close, indicating a positive start for the Indian stock market indices.
On the Sensex outlook, Ponmudi said that the index has moved above its 20-day, 50-day, 100-day and 200-day EMAs, indicating a substantial improvement in its technical structure. The immediate resistance is placed around 81,200–81,300, followed by 82,000. A sustained move above these levels could open the way for further upside.
“On the downside, 80,500–80,300 forms the immediate support zone, followed by 80,000–79,700. Holding above the immediate support range will be important to preserve the prevailing positive momentum. However, after the sharp weekly advance, some consolidation and profit-booking may emerge at higher levels. The near-term outlook remains bullish, while the elevated RSI warrants caution against chasing the rally at stretched levels,” he said.
On the Nifty 50 outlook, Ponmudi added that the index opened on a marginally higher note near 25,070, touched an intraday high of 25,132, before closing around 24,986, down 44 points. Immediate resistance remains placed in the 25,150–25,200 band, followed by 25,500, which carries heavy Call OI concentration.
“A sustained move above this zone could support further advancement, while remaining below would likely keep the index in consolidation or attract renewed profit-booking. On the downside, 24,800 remains immediate support, followed by the 24,600 zone. Momentum indicators remain largely unchanged, with the RSI still in the mid-70s, a level that continues to suggest overbought conditions following the week’s sharp advance, warranting some caution against chasing further upside without a broader base-building phase,” Ponmudi said.
US markets' future remained mixed on Sunday evening, with Nasdaq remaining weak; meanwhile, Dow Jones and S&P 500 traded flat-to-positive.
Dow Jones futures advanced 150 points in early trading on Sunday. The underlying 30-stock index had plunged more than 2,000 points over Thursday and Friday amid a broader market sell-off following the US midterm election results, which saw Democrats sweep both the House of Representatives and the Senate.
Nasdaq futures declined by as much as 150 points on Sunday evening (US local time) as trading resumed following the weekend break. The weakness came amid concerns surrounding Nvidia co-founder and CEO Jensen Huang, who is reportedly under investigation over his alleged links with a Chinese spy. The development has raised concerns about its potential implications for the broader technology sector.
The S&P 500 futures are trading just below the flat line.
South Korea’s Kospi index opened lower on Monday despite a recovery in US semiconductor stocks during early trading. However, it soon reversed its losses to trade 0.22% higher, holding above the 5,000 mark.
Japan's stock market advanced on Monday, with the Nikkei 225 rising 2.05% to 58,614.33, supported by bargain-hunting and a rebound in oversold stocks.
On the other hand, the Taiwan stock market also opened in the green, with the Taiex index surging over 3% in early trading on Monday.
Disclaimer: This story is for educational purposes only. Please consult with an investment advisor before making any investment decisions.
Vaamanaa covers business and stock market news. Started in 2020, she has been producing news on digital platforms for over 4.5 years now. She writes on markets, commodities, IPOs, and industry. She has worked for news channels like Jagran New Media and Business Insider India. You can reach out to her at vaamanaa.sethi@htdigital.in.
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