Market View 06th November, 2026

View on market: Volatility persists, eagerly searching for growth:

Asian markets traded mixed, following a rebound in US technology stocks. Japan’s markets remained under pressure, while South Korea’s Kospi gained. However, weakness in the technology sector weighed on the broader regional sentiment, with Hong Kong markets also traded lower. US markets declined sharply after the opening bell, giving up some of their recent gains following the Democrats’ victory in the midterm elections. Selling pressure in technology stocks and cautious investor sentiment weighed on all major indices. Indian benchmark indices extended their winning streak for the sixth consecutive session, supported by strong buying in auto, financial and banking stocks. The positive momentum continued despite the weekly expiry of Sensex contracts, reflecting strong investor confidence. Crude oil prices moved higher after declining for two consecutive sessions, as uncertainty surrounding US-Iran peace negotiations continued to support prices.

Key Quarterly Results for Today:

3MINDIA, AJAXENGG, ALEMBICLTD, APOLLOIN, ASTERDM, AUTOIND, BAIKAKAJI, BANCOINDIA, BLUEDART, BOMDYEING, BOSCHLTD, CARRARO, CHOLAHLDNG, CMRGREEN, DATAPATTNS, EUROTEXIND, GODREJAGRO, GRERENEW, HINDALCO, INDOAMIN, JUBLFOOD, NUVAMA, NVENTURES, RAMKY, RICOAUTO, ROSSTECH, SCODATUBES, SIEMENS, STARCEMENT, SUDARSCHEM, TCMLMTD, ZODIACLOTH.

Economic Calendar:

• USD: Non-Farm Payrolls and Unemployment Data on 06^th November 2026.
• IND: CPI on 12^th November 2026.
• USD: ADP Employment Change Data and CPI Oct on 10^th November 2026.
• IND: Bank Deposit & Loan Growth Rate and Foreign Reserves Data on 13^th November 2026.

BROKERAGE

JEFFERIES ON ENTERO HEALTHCARE:

Target ₹2,100 Earlier Target ₹1,800 Recommendation Buy, Targets 23% FY27 revenue growth, with potential upside from acquisitions, Expects 20% revenue CAGR and EBITDA margins above 6% over three years, MedTech expansion, organic growth and working capital efficiency support profitability.

JEFFERIES ON PI INDUSTRIES:

Target ₹2,070 Earlier Target ₹2,910 Recommendation Buy, CSM exports face persistent pricing pressure and weak volume growth, Biologicals and new innovator molecules offer medium-term growth opportunities, Cuts FY27-28 EPS estimates by 40% and 35% amid margin pressure and pharma losses.

KOTAK ON SKF INDIA:

Target ₹1,300 Recommendation Sell, Expects 10% revenue CAGR over FY26-29, supported by automotive demand, EV bearing content, aftermarket gains and industrial localisation support growth, Margins likely to remain at 13-14%, with commodity costs and product mix limiting recovery.

KOTAK ON BALKRISHNA INDUSTRIES:

Target ₹2,200 Earlier Target ₹2,125 Recommendation Sell, India demand remains strong, while US and European OHT outlook stays mixed, Domestic TBR, PCR and two-wheeler expansion carries execution and margin risks, Higher rubber and freight costs could keep FY27-28 EBITDA Margins below 21%.

International Markets:

U.S & Europe:

*As per 06^th November.

Asian markets

Stocks strong on Chart:

Commodities & Currency:

FIIs & DIIs:

FII & DII Data in Cr.

News Updates:

Disclaimer:

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Disclosure Appendix
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Vindhyachal Prasad, InCred Markets Limited, vindhyachal@elitestock.com
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