Indian shares edge lower as market consolidates after last week's surge

Indian equities slipped on Monday morning as investors paused after a strong advance the previous week, Business Recorder reported. By 9:35 a.m. IST, the Nifty 50 and Sensex were each down 0.2%, at 24,931.2 and 80,837.24. Both indexes had gained about 10.5% over seven sessions through Friday, their longest winning run this year.

Foreign investors have put more than $4.1 billion into Indian shares so far in November, the largest monthly total since September 2024. Falling oil prices and those inflows had supported the rally, while Monday saw ten of 16 major sectors decline; small-caps and mid-caps also eased. Brent traded near $98 a barrel, and the pharmaceutical index advanced 1.6% as Divi’s Laboratories rose 4.6% after reporting a 64% year-on-year rise in quarterly profit.