Indian stock markets opened the first trading session of November on a flat note, continuing their consolidation phase.

The Nifty 50 index opened at 25,696.85, down by 25.25 points or 0.10 per cent, while the BSE Sensex began at 83,835.10, slipping 103.61 points or 0.12 per cent.

Market experts said promoters are capitalising on high valuations to monetise holdings, as the month witnesses a strong pipeline of initial public offerings (IPOs).

Banking and market expert Ajay Bagga said Indian markets are currently seeing promoters, private equity funds, and foreign portfolio investors encashing their holdings, while domestic retail flows through mutual funds and insurance are providing liquidity. He noted that the Indian market has seen 13 months of underperformance, adding that a phase of

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