Sensex slumps 340 pts; consumer durables shares decline
At 11:30 ST, the barometer index, the S&P BSE Sensex, tanked 340.08 points or 0.41% to 83,195.27. The Nifty 50 index fell 101.75 points or 0.40% to 25,471.40.
The broader market underperformed the frontline indices. The S&P BSE Mid-Cap index shed 0.55% and the S&P BSE Small-Cap index fell 0.46%.
The market breadth was weak. On the BSE, 1,550 shares rose and 2,318 shares fell. A total of 221 shares were unchanged.
IPO Update:
Physicswallah received bids for 18,62,04,143 shares as against 25,17,238 shares on offer, according to stock exchange data at 11:15 IST on Tuesday (11 November 2025). The issue was subscribed 0.01 times. The issue opened for bidding on 11 November 2025 and it will close on 13 November 2025. The price band of the IPO is fixed between Rs 103 and 109 per share.
Emmvee Photovoltaic Power received bids for 23,87,469 shares as against 7,74,27,183 shares on offer, according to stock exchange data at 11:15 IST on Tuesday (11 November 2025). The issue was subscribed 0.03 times. The issue opened for bidding on 11 November 2025 and it will close on 13 November 2025. The price band of the IPO is fixed between Rs 206 and 217 per share.
Pine Labs received bids for 5,58,89,457 shares as against 9,78,93,739 shares on offer, according to stock exchange data at 11:15 IST on Tuesday (11 November 2025). The issue was subscribed 0.57 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.
US-India Trade Deal:
Hints of a potential trade breakthrough with the US emerged from the White House on Monday as President Donald Trump reportedly said that Washington and New Delhi are moving closer to finalising a new trade agreement, adding that the US would eventually bring down tariffs on India. Trump's remarks came during the swearing-in ceremony of Sergio Gor, the new US Ambassador to India, at the Oval Office.
We?re making a deal with India. Much different than we had. Right now they don?t love me but they will love us again. We?re getting a fair deal. They?re very good negotiators, so Sergio, you will have to take a look at that. I think we?re pretty close to doing a deal that is good for everybody, the President reportedly said during the ceremony.
Speaking to reporters later, Trump reportedly responded to questions on whether the US would consider lowering tariffs on Indian imports. ?Well, right now, the tariffs are very high on India because of the Russian oil, and they?ve stopped doing the Russian oil. It?s been reduced very substantially. Yeah, we?re going to be bringing the tariffs down. At some point, we?re going to be bringing them down,? he reportedly stated.
Buzzing Index: The Nifty Consumer Durables index fell 0.83% to 37,446.15. The index rose 0.38% in the previous trading session.
Whirlpool of India (down 1.88%), Voltas (down 1.86%), Kalyan Jewellers India (down 1.63%), Crompton Greaves Consumer Electricals (down 1.52%), Havells India (down 1.24%), Titan Company (down 1%), V-Guard Industries (down 0.6%), Blue Star (down 0.51%), Kajaria Ceramics (down 0.5%) and Dixon Technologies (India) (down 0.48%) declined.
On the other hand, Amber Enterprises India (up 2.03%) ,Cera Sanitaryware (up 0.31%) and PG Electroplast (up 0.1%) added.
Stocks in Spotlight:
Sula Vineyards declined 2.32% after the company?s consolidated net profit tumbled 58.43% to Rs 6.02 crore on 1.1% fall in revenue from operations to Rs 139.66 crore in Q2 FY26 over Q2 FY25.
KEC International rose 3.18% after the company reported an 88.21% surge in consolidated net profit to Rs 160.75 crore on a 19.13% increase in revenue from operations to Rs 6,091.56 crore in Q2 FY26 over Q2 FY25.
Britannia Industries fell 4.80% after the company announced that Varun Berry, its vice-chairman, managing director and chief executive officer, has resigned with immediate effect.
Global Markets:
Asia-Pacific markets rose Tuesday after Wall Street gains on revived artificial intelligence optimism and growing hopes that the U.S. government shutdown will end soon.
The Senate passed legislation on Monday night to end the nation?s longest government shutdown, after a critical splinter group of Democrats joined with Republicans and backed a spending package that omitted the chief concession their party had spent weeks demanding.
The 60-to-40 vote, on Day 41 of the shutdown, signaled a break in the gridlock that has shuttered the government for weeks, leaving hundreds of thousands of federal workers furloughed, millions of Americans at risk of losing food assistance and millions more facing air-travel disruptions.
Shares of Japanese financial conglomerate Orix edged higher on Tuesday after the company announced a partnership with Qatar?s sovereign wealth fund, Qatar Investment Authority, to launch a $2.5 billion private equity fund.
The fund will invest in Japanese companies, ?primarily targeting business succession, privatization of listed companies, and carve-outs,? valued at least 30 billion yen (about $200 million), Orix said in a press release. Orix and QIA will contribute 60% and 40%, respectively.
On Wall Street, the US benchmarks rose Monday after the White House expressed support for the bipartisan deal to end the shutdown ? a key development that makes it likely the government reopens within days. Separately, President Donald Trump also floated the idea of paying $2,000 tariff ?dividend? to US citizens.
The Dow Jones Industrial Average climbed 381.53 points, or 0.81%, to end at 47,368.63. The S&P 500 gained 1.54% to settle at 6,832.43, while the Nasdaq Composite advanced 2.27% to finish at 23,527.17.
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