The week saw Donald Trump returning to power in the US election amid a second consecutive rate cut by Fed this year, as the Indian stock market continued to experience consolidation due to heightened selling pressure from foreign institutional investors (FIIs).

This broad-based correction is particularly evident in sectors with excessive valuations, according to experts.

However, despite the massive FII selling, the stock market is resilient since the valuations are fair and every selling is being absorbed by domestic institutional investors (DIIs) and individual investors, particularly high-net-worth individuals (HNIs).

DIIs have been a strong buyer absorbing the selling and mitigating the fall. They infused more than Rs 1 lakh crore in Indian equities in October, keeping the stock market healthy compared to its global peers.

The Indian stock market closed in red on Thursday as there was heavy selling in all sectors except PSU banks.

The Indian benchmark indices closed down by more than 1 per cent.

Sensex fell 836 points, or 1.04 per cent, to 79,541.79 at the end of trading.

Gold prices continue to fall after the US presidential election and on Thursday, the December future contracts of gold on MCX opened with a decline of 0.37 per cent at Rs 76,369 per 10 grams, while silver December future contracts were trading 0.24 per cent low at Rs 90,601 per kg.

After the US elections, in the last two days, gold prices have fallen by Rs 2,100 per 10 grams and silver prices by Rs 4,050 per kg.

According to the India Bullion and Jewellers Association Ltd (IBJA), the price of 24-carat gold is Rs 76,570 per 10 grams, the price of 22-carat gold is Rs 74,720 per 10 grams, the price of 20-carat gold is Rs 68,130 per 10 grams and the price of 18-carat gold is Rs 62,201 per 10 grams.

Pranav Mer, Vice President, EBG-Commodity & Currency Research, JM Financial Services said that gold and most other commodities are trading in the negative territory, weighed by a strong US dollar as Donald Trump won the presidential race.

After a historic test flight of Starship last month, SpaceX on Thursday announced the sixth, aiming to launch on November 18.

During Starship’s fifth test flight in October, the Super Heavy booster successfully returned to the launch site and was caught by the “chopstick arms” and catch tower at Starbase.

For the next flight, the world's largest and most powerful rocket “aims to expand the envelope on ship and booster capabilities and get closer to bringing reuse of the entire system online”, SpaceX said in a statement.

While it once again aims to return to the launch site for the catch, other objectives include “reigniting a ship Raptor engine while in space”. It also plans to test “a suite of heatshield experiments and manoeuvring changes for ship reentry and descent over the Indian Ocean”.

The Indian stock market opened in red on Thursday as heavy selling was seen in metal, auto, financial service, pharma, FMCG, energy, private bank and infrastructure sectors in early trade.

Sensex was trading at 79,549 after falling more than 800 points or 1 per cent. At the same time, Nifty was trading at 24,241 after falling over 250 points or 1 per cent.

However, the market trend remained positive. On the National Stock Exchange (NSE), 1,250 stocks were trading in green, while 999 stocks were trading in red.

Nifty Bank was at 52,061.85 after falling 255.55 points or 0.49 per cent. Nifty Midcap 100 index was trading at 57,4.350 after rising 87.70 points or 0.15 per cent. At the same time, Nifty Small cap 100 index was at 18,886.40 after slipping 19.70 points or 0.10 per cent.

The air quality in Delhi-NCR remained alarmingly poor on Thursday, approaching 'severe' levels in multiple areas, with the average Air Quality Index (AQI) in the city recorded at 362, according to the Central Pollution Control Board (CPCB).

Several areas in Delhi exceeded the 400 AQI mark, which falls under the 'severe' category. Anand Vihar reported an AQI of 422, Jahangirpuri 431, and Wazirpur 428. Other localities, including Ashok Vihar (416), Mundka (421), and Rohini (403), also indicated dangerously high levels of pollution.

Meanwhile, most other regions in Delhi recorded AQI levels above 300, indicating 'very poor' air quality, with Alipur at 387, Burari Crossing at 377, and North Campus DU at 372, among others.

The Indian benchmark indices on Wednesday welcomed Donald Trump's convincing victory in the US presidential elections as both Sensex and Nifty gained more than 1 per cent amid heavy buying in the IT sector.

The Sensex closed at 80,378.13, up 901.50 points or 1.13 per cent.

On the other hand, Nifty closed at 24,484 after gaining 270.75 points or 1.12 per cent. The Nifty Bank rose 110.15 points or 0.21 per cent to 52,317.40. The Nifty Midcap 100 index closed at 57,355.80 at the end of trading after gaining 1240.35 points or 2.21 per cent. Nifty Smallcap 100 index closed at 18,906.10 after gaining 402.65 points or 2.18 per cent.

Reserve Bank of India Governor Shaktikanta Das on Wednesday said that although the central bank had shifted towards a softer neutral monetary policy stance to spur growth, this did not mean that an interest rate cut would happen immediately.

Addressing a media event here, the RBI Governor said: "A change in stance doesn't mean there will be a rate cut in the very next monetary policy meeting."

He said there were still significant upside risks to inflation and "a rate cut at this stage would be very risky".

The RBI, at its monetary policy review, kept interest rates unchanged for the 10th straight meeting, but switched its monetary policy stance to "neutral" from "withdrawal of accommodation".

This had led to speculation that the way had been paved for an interest rate cut.

The Indian stock market closed in green on Tuesday as investors set their eyes on the closely-contested US presidential election.

At the end of trading, buying was seen in all sectors, except FMCG and media.

The Sensex closed up 694.39 points or 0.88 per cent.

On the other hand, NSE's Nifty closed at 24,213.30 after rising 217.95 points or 0.91 per cent. The Nifty Bank rose 992 points or 1.94 per cent to 52,207.25. Nifty Midcap 100 index closed at 56,115.45 at the end of trading after rising 330.90 points or 0.59 per cent. The Nifty Smallcap 100 index closed at 18,503.45 after gaining 78.80 points or 0.43 per cent.

Sensex shed more than 900 points on Monday, as both Sensex and Nifty saw a decline of more than 1 per cent each, amid uncertainty over the results of the US presidential election and the Federal Reserve's monetary policy meeting this week.

There was some recovery in the market at the end of trading after the Sensex tanked more than 1,300 points in the morning trade.

The BSE Sensex closed down 941.88 points or 1.18 per cent. On the other hand, the NSE Nifty closed at 23,995.35 after falling 309 points or 1.27 per cent.

Mid and small cap indices also fell by 2 per cent. Nifty Bank fell 458.65 points or 0.89 per cent to 51,215.25. The Nifty Midcap 100 index closed at 55,784.55 after falling 711.50 points or 1.26 per cent at the end of trading. The Nifty Small cap 100 index closed at 18,424.65 after rising 370.25 points or 1.97 per cent.