Indices drift lower in early trade; Nifty trades below 25,200 level; VIX spurts 9.42%

The domestic equity indices trade with moderate losses in early trade, pressured by rising global uncertainty following renewed tariff tensions between the US and China. However, investor focus remains firmly on the highly anticipated listing of Tata Capital, the largest IPO of the year.

The Nifty traded below the 25,200 level. All the sectoral indices traded in the red on the NSE.

At 09:30 IST, the barometer index, the S&P BSE Sensex, tanked 298.86 points or 0.36% to 82,201.96 The Nifty 50 index fell 100.05 points or 0.25% to 25,165.10.

The broader market underperformed the frontline indices. The S&P BSE Mid-Cap index tanked 0.67% and the S&P BSE Small-Cap index declined 0.67%.

The market breadth was negative. On the BSE, 1,150 shares rose and 2,112 shares fell. A total of 191 shares were unchanged.

Foreign portfolio investors (FPIs) bought shares worth Rs 459.20 crore, while domestic institutional investors (DIIs) were net buyers to the tune of Rs 1,707.83 crore in the Indian equity market on 08 October 2025, provisional data showed.

The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, was rallied 9.42 % to 11.11.

Stocks in Spotlight:

Avenue Supermarts (Dmart) fell 1.71%. The company?s consolidated net profit rallied 3.85% to Rs 685.01 crore on a 15.45% jump in revenue from operations to Rs 16,676.30 crore in Q2 FY26 over Q2 FY25. Earnings before Interest, Tax, Depreciation and Amortization (EBITDA) in Q2 FY26 stood at Rs 1,214 crore, registering the growth of 10.96% compared to Rs 1,094 crore recorded in the corresponding quarter of last year.

Computer Age Management Services (CAMS) shed 0.59%. The company on Friday said its board has approved a stock split in the ratio of 1:5. Each share of face value Rs 10 will be divided into five shares of Rs 2 each. The move is subject to shareholder approval through a postal ballot.

Biocon announced that it has inaugurated its first manufacturing facility in the United States, located in Cranbury, New Jersey.

Numbers to Track:

The yield on India's 10-year benchmark federal paper added 0.15% to 6.531 from the previous close of 6.521.

In the foreign exchange market, the rupee edged lower against the dollar. The partially convertible rupee was hovering at 88.7575 compared with its close of 88.7200 during the previous trading session.

MCX Gold futures for 3 December 2025 settlement added 1.45% to Rs 123,100.

The US Dollar Index (DXY), which tracks the greenback's value against a basket of currencies, was down 0.05% to 98.94.

The United States 10-year bond yield added 0.57% to 4.078.

In the commodities market, Brent crude for December 2025 settlement added 91 cents or 1.45% to $63.64 a barrel.

Global Markets:

Asian market tanked on Monday after the U.S. and China tightened trade restrictions and exchanged sharp accusations, reigniting tensions between the world?s two largest economies.

China?s Ministry of Commerce reportedly said on Sunday that the country was not afraid of? a trade war, responding to U.S. President Donald Trump?s vow to impose punitive new tariffs on Chinese imports.

Beijing also reportedly accused Washington of a textbook double standard? following Trump?s threat to levy an additional 100% tariff after China imposed fresh export controls on rare earth minerals.

In a Truth Social post later that day, Trump appeared to temper his tone, suggesting the administration ?may not follow through? with a ?massive increase of tariffs? on China. However, the remarks did little to calm markets.

On Friday, U.S. equities tumbled amid escalating trade tensions. The Dow Jones Industrial Average sank 878.82 points, or 1.9%, to close at 45,479.60. The S&P 500 slid 2.71% to 6,552.51, and the Nasdaq Composite dropped 3.56% to 22,204.43 ? marking the S&P?s steepest one-day decline since April 10.

For the week, the Dow lost 2.7%, the S&P 500 shed 2.4%, and the Nasdaq fell 2.5%. The sell-off deepened after Trump announced plans for additional tariffs and new export controls on critical U.S.-made software, a move that sent Big Tech stocks sharply lower and reignited fears of a renewed trade war with China.

Trump?s latest measures have rattled global markets and raised concerns about further deterioration in U.S.?China relations ahead of a scheduled meeting with President Xi Jinping in two weeks ? a meeting Trump now says may not take place.

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