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Indian Railway Finance Corporation (IRFC) and four other companies set November 12th as the record date for dividend eligibility. IRFC announced a dividend of Rs 0.8 per share. Other companies, including D-Link (India), Indraprastha Gas, PDS Ltd, and POWERGRID Infrastructure Investment Trust, also declared dividends.

In the first five trading sessions of November, FPIs sold equities worth ₹19,993.7 crore ($2,374.6 million) net according to the data from NSDL. This compares with a massive selling of ₹44,914 crore ($5,352.1 million) in the first five sessions of the previous month, forming nearly half of the total selling worth ₹94,017 crore ($11,195.4 million) for the whole month.

The results were marked by a 5.4% drop in consolidated revenues to ₹8,003 crore and a 480 basis points decline in operating margin to 15.5%. Consolidated net profit dropped 44% to ₹694 crore.

PFC directors questioned the legal constraints on transferring Tata Sons shares in the event of a default. ET had earlier reported that Tata Trusts had stated that Tata Sons shares are not freely transferable.

Australian shares fell while futures in Tokyo and Hong Kong signal losses after China’s 10 trillion yuan ($1.4 trillion) plan to help local governments deal with hidden debt stopped short of including new measures to boost domestic demand. US contracts edged higher after the S&P 500 rose 0.4% on Friday to cap stocks’ best week this year in anticipation of Trump’s pro-growth agenda.

Shares of Hyundai, Nykaa, General Insurance, Zydus, BSE will be in focus as the companies will announce their second quarter results today.

Economists predict that the Reserve Bank of India may postpone a rate cut until February. This delay is attributed to concerns about rising inflation and global market instability. The central bank is closely monitoring food inflation, particularly in edible oils and vegetables. Despite these concerns, some analysts anticipate a rate cut in December, citing slowing economic growth.

The ECB has already lowered borrowing costs three times since June and is widely expected to do so again next month. Holzmann is one of the most hawkish officials and was the sole dissenter on the initial rate cut.

“The shift in stock sentiment was observed after the company reported a net profi t jump of 145% and asset quality improvement,’’ said Rajesh Palviya, head of technical and derivatives research at Axis Securities. Traders can buy in the range of Rs 105-103 with a stop loss of Rs 100 for a target of Rs 110-112, he said.

There is possibility of more consolidation or minor weakness towards the key supports of 23,900-23,800. One may expect emergence of buying again from near the supports.