Stocks to buy: After a strong rally over seven straight sessions, the Indian stock market opened higher in the ceremonial Muhurat Trading session on Diwali, i.e., 8 November 2026. However, the key benchmark indices pared early gains and ended red after the close of the ceremonial session, snapping the eight-year winning streak. The BSE Sensex edged lower by 0.04%, the Nifty 50 index lost 0.18%, whereas the Bank Nifty index nosedived 0.40%.
Among the top gainers were Divi’s Lab, Tata Steel, Vedanta Aluminium and Metal, CG Power, Sun Pharma, and Tata Motors PV, whereas the top losers are SBI Life, Tata Capital, IndiGo, DLF, BPCL, and Infosys.
Shares of Safe Enterprises Retail, Hindusthan Insulators, Finolex Cables, Banco Products India, Dhunseri Ventures, and Supriya Lifesciences are among the volume shockers during the special trading session on Diwali 2026.
Shares of ICICI Bank, Adani Ports, TVS Motor Company, Kotak Mahindra Bank, Eternal, Indian Hotels Company, Aurobindo Pharma, Ather Energy, Piramal Pharma, MCX, Shyam Metalics, JSW Steel, South Indian Bank, Marico, Divi’s Lab, Navin Fluorine, MOFSL, etc., climbed to a new 52-week high during the ceremonial session on Diwali 2026.
Stock market outlook
Pabitro Mukherjee, Deputy Vice President — Technical Research at Bajaj Broking, believes the Nifty 50 index moved above the 52-week EMA during the last week, and that the trendline joining the previous major highs of February and August 2026 is currently placed above the August 2026 high of 24,774.
Advising investors to remain cautious, the Bajaj Broking expert said, “The Nifty 50 index has seen a strong up move of more than 2500 points in the last 10 sessions. Hence, some consolidation cannot be ruled out at higher levels; stock-specific action will continue to remain in focus.”
On triggers that may dictate the Indian stock market’s movement next week, the Bajaj Broking expert said that market participants will closely monitor Brent crude prices and developments surrounding US-Iran tensions. The Q2 FY27 earnings season will remain a major focus, with corporate results and management commentary providing insights into earnings momentum and the broader business outlook.
Top 5 monthly technical picks by Bajaj Broking
Regarding stocks to buy in November 2026, Pabitro Mukherjee of Bajaj Broking recommended these five monthly technical stock picks: SBI, Swiggy, Adani Power, Lloyds Engineering, and GE Vernova.
1] SBI: Buy in ₹990 to ₹1,020 range | Target ₹1,149 | Stop Loss ₹920 | Time 12 Months;
2] Lloyds Engineering: Buy in ₹82 to ₹84 range | Target ₹99 | Stop Loss ₹72 | Time 12 Months.
3] Adani Power: Buy in ₹199 to ₹204 range | Target ₹223 | Stop Loss ₹187 | Time 6 Months.
4] Swiggy: Buy in ₹188 to ₹191 | Target ₹206 | Stop Loss ₹177 | Time 6 Months; and
5] GE Vernova: Buy in ₹3,980 to ₹4,030 range | Target ₹4,545 | Stop Loss ₹3,610 | Time 12 Months.
Disclaimer: This story is for educational and informational purposes only. The views and recommendations above are those of individual analysts or broking companies, not Mint. We advise investors to check with certified financial experts before making any investment decisions.
