Nifty trades below 25,850 mark; auto shares slide

The headline equity indices traded with moderate losses in early-afternoon trade, as investors kept a close eye on the Bihar Election results. The Nifty traded below the 25,850 mark. Auto shares declined for the second consecutive trading session.

At 12:30 ST, the barometer index, the S&P BSE Sensex, declined 152.97 points or 0.18% to 84,325.70. The Nifty 50 index slipped 50.20 points or 0.19% to 25,828.75.

In the broader market, the S&P BSE Mid-Cap index rose 0.02% and the S&P BSE Small-Cap index added 0.25%.

The market breadth was positive. On the BSE, 1,949 shares rose and 1,998 shares fell. A total of 213 shares were unchanged.

Derivatives:

The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, shed 0.12% to 12.15. The Nifty 25 November 2025 futures were trading at 25,917.90 at a premium of 89.15 points as compared with the spot at 25,828.75.

The Nifty option chain for the 25 November 2025 expiry showed a maximum call OI of 72.9 lakh contracts at the 26,000 strike price. Maximum put OI of 48.3 lakh contracts was seen at the 26,000 strike price.

Economy:

The annual inflation rate, based on the All-India Wholesale Price Index (WPI), declined by 1.21% (provisional) in October 2025 compared with October 2024. This negative inflation reading was primarily driven by a decrease in the prices of food articles, crude petroleum and natural gas, electricity, mineral oils, and basic metals.

Bihar Election:

The counting of votes for the Bihar Assembly Election 2025 began at 8 AM across 46 counting centres in all 38 districts, and trends are now available for all 243 seats.

The National Democratic Alliance (NDA) is leading with Bharatiya Janata Party (BJP) on 85 seats, Janata Dal (United) [JD(U)] on 76 seats, Lok Janshakti Party (Ram Vilas) [LJPRV] on 20 seats, Rashtriya Lok Morcha [RSHTLKM] on 4 seats, and Hindustani Awam Morcha (Secular) [HAMS] on 4 seats.

The Mahagathbandhan (MGB) alliance has Rashtriya Janata Dal (RJD) leading on 35 seats, Indian National Congress (INC) on 6 seats, Communist Party of India (Marxist-Leninist) Liberation [CPI(ML)(L)] on 7 seats, Communist Party of India (Marxist) [CPI(M)] on 1 seat, and All India Majlis-E-Ittehadul Muslimeen (AIMIM) on 3 seats. The Communist Party of India (CPI) and Bahujan Samaj Party (BSP) are each leading on 1 seat.

This round of counting reflects one of the most competitive and high-turnout elections Bihar has witnessed, with a voter turnout recorded at 66.91%, where more than 7.45 crore voters decided the fate of 2,616 candidates across 243 seats.

Buzzing Index:

The Nifty Auto index slipped 0.58% to 27,223.55. The index fell 0.95% in two consecutive trading sessions.

Eicher Motors (down 2.20%), TVS Motor Company (down 1.64%), Sona BLW Precision Forgings (down 1.57%), Bosch (down 1.48%), Tata Motors Passenger Vehicles (down 1.29%), Maruti Suzuki India (down 1.01%), Bajaj Auto (down 0.80%), Ashok Leyland (down 0.79%), Bharat Forge (down 0.78%) and Uno Minda (down 0.51%) declined.

On the other hand, Hero MotoCorp (up 1.65%), Samvardhana Motherson International (up 1.18%) and Tube Investments of India (up 0.63%) edged higher.

Stocks in Spotlight:

Tolins Tyres dropped 8.20% after the company reported a 27.60% decline in consolidated net profit to Rs 6.95 crore in Q2 FY26 as against Rs 9.60 crore posted in Q2 FY25. Revenue from operations fell 14.02% year-on-year (YoY) to Rs 66.10 crore in the quarter ended 30 September 2025.

PTC Industries shed 0.64%. The company reported 4.79% growth in consolidated net profit to Rs 18.14 crore in Q2 FY26 as against Rs 17.31 crore posted in Q2 FY25. However, revenue from operations surged 72.21% year-on-year (YoY) to Rs 124.63 crore in the quarter ended 30 September 2025.

Muthoot Finance soared 9.32% after the company?s consolidated net profit jumped 90.4% to Rs 2,420.63 crore on 47.9% increase in total income to Rs 7,332.59 crore in Q2 FY26 over Q2 FY25.

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