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Indian Markets Open Cautious After October Rally
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Indian stock indices dipped slightly as profit-booking hit pharma and financials, while PSU banks showed strong momentum.
On Nov 1, Indian stock indices saw mild declines after an October rally. Nifty closed at 25,722.10 (-0.60%) and Sensex at 83,938.71 (-0.55%). Profit-booking hit pharma and financials, while PSU banks and metals showed strength. DIIs absorbed FII selling amid low volatility (India VIX at 12). Markets are expected to stay range-bound with key support at 25,700. Analysts suggest a 'buy on dips' strategy, focusing on PSU and IT sectors for near-term opportunities.