Sensex, Nifty extend losses for second day on negative global cues
After a positive start, markets failed to hold on to early gains and slipped into negative territory during the mid-session. Selling pressure intensified in the latter half, dragging indices to the day?s lows by the close. The Nifty 50 ended slightly above the 25,750 mark, with sharp losses in metal and healthcare stocks pulling the index lower. However, PSU bank stocks defied the trend.
The S&P BSE Sensex tumbled 465.75 points or 0.55% to 83,938.71. The Nifty 50 index fell 155.75 points or 0.60% to 25,722.10. In two consecutive trading sessions, the Sensex declined 1.24% while the Nifty fell 1.27%.
Adani Enterprises (down 1.82%), ICICI Bank (down 1.28%) and HDFC Bank (down 1.05%) were major drags today.
In the broader market, the S&P BSE Mid-Cap index declined 0.55% and the S&P BSE Small-Cap index shed 0.40%.
The market breadth was negative. On the BSE, 1,784 shares rose and 2,370 shares fell. A total of 166 shares were unchanged.
The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, rose 0.70% to 12.15.
Numbers to Track:
The yield on India's 10-year benchmark federal paper shed 0.50% to 6.540 from the previous close of 6.574.
In the foreign exchange market, the rupee edged lower against the dollar. The partially convertible rupee was hovering at 88.7000 compared with its close of 88.6900 during the previous trading session.
MCX Gold futures for 5 December 2025 settlement rose 16% to Rs 121,700.
The US Dollar Index (DXY), which tracks the greenback's value against a basket of currencies, was up 0.04% to 99.38.
The United States 10-year bond yield rose 0.27% to 4.108.
In the commodities market, Brent crude for December 2025 settlement lost 41 cents or 64% to $63.96 a barrel.
Global Markets:
European market traded lower on Friday as investors reacted to a swathe of earnings this week and the European Central Bank?s decision to hold rates steady.
The euro zone economy grew a better-than-expected 0.2% in the third quarter, narrowly beating estimates of 0.1%.
The European Central Bank, meanwhile, held its key deposit facility rate at 2% for the third consecutive time, having last cut rates in June.
Asian shares ended mixed despite easing tensions between Washington and Beijing after the meeting between U.S. President Donald Trump and Chinese President Xi Jinping.
During their high-stakes discussions in South Korea on Thursday, both leaders reached a partial trade agreement, averting a potential escalation in their dispute over rare earth exports?an issue that had threatened to reignite a full-blown trade war between the world?s two largest economies.
Meanwhile, China's factory activity shrank for a seventh month in October, an official survey showed on Friday, keeping alive calls for further stimulus to boost domestic demand, with efforts to ship goods abroad merely exporting price wars.
The official purchasing managers' index (PMI) fell to 49.0 in October from 49.8 in September, a six-month low, the National Bureau of Statistics' survey showed on Friday. It remained below the 50-mark separating growth from contraction.
On Wall Street, however, major U.S. indexes slipped as investors digested mixed Big Tech earnings and the outcome of the Trump?Xi talks. The S&P 500 fell 0.99% to 6,822.34, the Nasdaq Composite declined 1.57% to 23,581.14, and the Dow Jones Industrial Average eased 0.23% to 47,522.12.
As part of the agreement, the U.S. reduced tariffs on Chinese fentanyl-related imports to 10%, bringing overall tariffs on Chinese goods down to 47% from 57%. In return, Beijing pledged to curb fentanyl flows into the U.S. and increase purchases of American soybeans and other agricultural products. China also postponed new restrictions on rare earth exports by a year.
However, key sticking points remain unresolved?including the export of Nvidia chips and the ongoing TikTok divestiture dispute. China?s Ministry of Commerce said it remains open to discussions with Washington on TikTok but offered no further details.
The US Federal Reserve, led by Jerome Powell, cut interest rates by 25 basis points to a range of 3.75%-4.00% after its two-day meeting on October 29, 2025. The Fed said future rate decisions will depend on the balance of risks in the economy, as well as evolving data and the overall economic outlook.
Stocks in Spotlight:
ITC rose 0.37%. The company reported a 4.17% jump in consolidated net profit to Rs 5,186.55 crore despite 1.3% decline in revenue from operations to Rs 21,255.86 crore in Q2 FY26 over Q2 FY25.
Vedanta declined 2.62%. The company?s consolidated revenue rose 6% YoY to Rs 39,218 crore in Q2 FY26, up from Rs 37,171 crore in Q2 FY25, driven by higher LME prices, improved premiums, and forex gains, partially offset by lower volumes. Sequentially, revenue increased 5% from Rs 37,434 crore in Q1 FY26, aided by higher LME, premia, forex gain and higher volume. However, profit after tax (PAT) declined 38% YoY to Rs 3,479 crore, compared to Rs 5,603 crore in Q2 FY25, due to exceptional losses of Rs 1,547 crore during the quarter. Sequentially, PAT dropped 22% from Rs 4,457 crore in Q1 FY26.
Motilal Oswal Financial Services (MOFSL) fell 4.68%. The company's consolidated total income tumbled 34.9% year-on-year to Rs 1,859.87 crore in Q2 FY26, compared with Rs 2,856.44 crore in Q2 FY25. Sequentially, total income slipped 32.2% from Rs 2,744.15 crore in Q1 FY26. Profit after tax (PAT) slumped 67.6% YoY to Rs 362.42 crore, down from Rs 1,120.08 crore a year earlier, and fell 68.8% sequentially from Rs 1,162.06 crore in Q1 FY26.
Swiggy fell 1.93% after the company?s consolidated net loss widens to Rs 1,092 crore in Q2 FY26 from net loss of Rs 623 crore in Q2 FY25. Revenue from operations jumped 54.4% YoY to Rs 5,561 crore in Q2 FY26.
Meanwhile, the company?s board is scheduled to meet on 7 November 2025 to consider and approve the raising of funds up to Rs 10,000 crore through public or private offerings, including one or more qualified institutional placements (QIPs) or other permitted modes.
Bandhan Bank slumps 8.18% after reporting a sharp decline in profitability for the September 2025 quarter, weighed down by higher provisions. The bank?s net profit plunged 88.1% year-on-year to Rs 112 crore in Q2 FY26 from Rs 937 crore in Q2 FY25, primarily due to a steep rise in provisions. Net total income declined 11.5% YoY to Rs 3,135 crore from Rs 3,543 crore in the corresponding quarter last year.
United Spirits rallied 2.51% after the company?s standalone net profit increased 47.5% to Rs 494.22 crore in Q2 FY25, compared with Rs 335 crore in Q2 FY25. Revenue from operations (excluding net excise duty) jumped 11.5% to Rs 3,170 crore in Q2 September 2025.
Bharat Electronics (BEL) rallied 3.95% after its consolidated net profit jumped 17.87% to Rs 1,287.77 crore on 25.78% rise in revenue from operations to Rs 5,792.09 crore in Q2 FY26 over Q2 FY25.
Strides Pharma Science surged 9.97% after the company?s consolidated net profit jumped 81.98% to Rs 131.52 crore on 4.62% increase in revenue from operations to Rs 1220.83 crore in Q2 Sept 2025 over Q2 Sept 2024.
Cipla declined 2.52% after the company announced that its MD and Global CEO, Umang Vohra, will not seek reappointment. The company stated that Achin Gupta, its current Global COO, will take over as CEO for a five-year term starting 1 April 2026. The appointment will be proposed to the shareholders for their approval. Achin has been appointed as MD & GCEO Designate from 1 January 2026.
Further, the company also announced its Q2 results on Thursday. On a consolidated basis, the drug major reported a 3.7% increase in net profit to Rs 1,353.37 crore on a 7.6% rise in total revenue from operations to Rs 7,589.44 crore in Q2 FY26 over Q2 FY25.
Dabur India fell 2.68%. The company?s consolidated net profit jumped 6.48% to Rs 452.55 crore in Q2 FY26, compared with Rs 425 crore in Q2 FY25. Revenue from operations was at Rs 3,191.32 crore in the second quarter of FY26, up 5.37% year on year.
ASK Automotive fell 3.60%. The company reported an 18.60% rise in consolidated net profit to Rs 79.80 crore in Q2 FY26, compared with Rs 67.28 crore in Q2 FY25. Revenue from operations increased 8.19% YoY to Rs 1,053.70 crore in the quarter ended 30 September 2025.
IPO Update:
Lenskart Solutions received bids for 11,21,52,698 shares as against 9,97,61,257 shares on offer, according to stock exchange data at 16:50 IST on Friday (31 October 2025). The issue was subscribed 1.12 times. The issue opened for bidding on 31 October 2025 and it will close on 4 November 2025. The price band of the IPO is fixed between Rs 382 and 402 per share.
Studds Accessories received bids for 2,73,34,500 shares as against 54,50,284 shares on offer, according to stock exchange data at 16:50 IST on Friday (31 October 2025). The issue was subscribed 5.02 times. The issue opened for bidding on 30 October 2025 and it will close on 3 November 2025. The price band of the IPO is fixed between Rs 557 and 585 per share.
Orkla India received bids for 77,92,13,160 shares as against 1,59,99,104 shares on offer, according to stock exchange data at 16:50 IST on Friday (31 October 2025). The issue was subscribed 48.70 times. The issue opened for bidding on 29 October 2025 and it will close on 31 October 2025. The price band of the IPO is fixed between Rs 695 and 730 per share.
Powered by Capital Market - Live News