Nifty trades below 25,450 mark; IT shares drop

The key equity indices traded with modest losses in the mid-morning trade as investors booked profits following weak global cues and continued FII outflows. However, market participants remained focused corporate earnings, global cues and crude oil prices. The Nifty slipped below the 25,450 mark

IT shares declined after witnessing gains in the past trading session.

At 11:25 IST, the barometer index, the S&P BSE Sensex declined 294.82 points or 0.35% to 83,016.03. The Nifty 50 index fell 82.10 points or 0.32% to 25,428.45.

In the broader market, the S&P BSE Mid-Cap index shed 0.28%, while the S&P BSE Small-Cap index dropped 0.48%.

The market breadth was weak. On the BSE, 1,529 shares rose and 2,303 shares fell. A total of 183 shares were unchanged.

IPO Update:

Billionbrains Garage Ventures (Groww) received bids for 91,60,45,200 shares as against 36,47,76,528 shares on offer, according to stock exchange data at 11:18 IST on Friday (7 November 2025). The issue was subscribed 2.51 times. The issue opened for bidding on 4 November 2025 and it will close on 7 November 2025. The price band of the IPO is fixed between Rs 95 and 100 per share.

Pine Labs received bids for 62,02,324 shares as against 9,78,93,739 shares on offer, according to stock exchange data at 11:18 IST on Friday (7 November 2025). The issue was subscribed 1.01 times. The issue opened for bidding on 7 November 2025 and it will close on 11 November 2025. The price band of the IPO is fixed between Rs 210 and 221 per share.

Buzzing Index:

The Nifty IT index declined 0.96% to 34,997.10. The index advanced 0.18% in the past trading sessions.

Oracle Financial Services Software (down 1.84%), Persistent Systems (down 1.57%), Coforge (down 1.55%), HCL Technologies (down 1.4%) and Tech Mahindra (down 1.32%), LTIMindtree (down 1.23%), Wipro (down 1.21%), Tata Consultancy Services (down 1.16%), Mphasis (down 0.79%) and Infosys (down 0.51%) declined.

Stocks in Spotlight:

Pricol added 4.59% after its consolidated net profit jumped 41.97% to Rs 63.99 crore in Q2 FY26 as against Rs 45.07 crore posted in Q2 FY25. Revenue from operations increased 51.97% year on year (YoY) to Rs 987.93 crore in Q2 FY26.

Amara Raja Energy & Mobility declined 1.198%. The company?s standalone net profit jumped 25.6% to Rs 302.40 crore on an 8% increase in revenue from operations to Rs 3,388.18 crore in Q2 FY26 over Q2 FY25.

Hindustan Construction Company (HCC) tanked 2.53% after the company's consolidated net profit slumped 25.26% to Rs 47.78 crore in Q2 FY25 from Rs 63.93 crore in Q2 FY25. Revenue from operations rose 31.71% to Rs 960.74 crore in Q2 FY26, compared with Rs 1,406.91 crore in Q2 FY25.

Global Markets:

Asia market declined on Friday, mirroring Wall Street?s losses as renewed concerns over stretched valuations in artificial intelligence (AI) stocks weighed on sentiment.

Investors across the region are now awaiting China?s October trade data, expected later in the day. Media reports indicate that exports may have grown just 3% year-on-year, slowing sharply from 8.3% in September, while imports are forecast to fall 3.2% after rising 7.4% previously.

The slowdown reflects weak domestic demand, prolonged pressure from the property downturn, rising job insecurity, and the fading impact of earlier consumption stimulus.

On Wall Street, AI-linked stocks extended their recent declines, dragging major indices lower. The Dow Jones Industrial Average fell 398.70 points (0.84%) to 46,912.30, while the S&P 500 dropped 1.12% to 6,720.32.

The Nasdaq Composite tumbled 1.9% to 23,053.99, with the Nasdaq 100 down more than 2% for the week ? its steepest decline since early April.

Adding to investor unease, October layoffs surged to 153,000, nearly triple September?s figure and 175% higher year-on-year, according to Challenger, Gray & Christmas.

The spike in job cuts, combined with the ongoing U.S. government shutdown, now over a month old, has further clouded the outlook for the U.S. economy.

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