Sensex slips 78 points, Nifty below 25,250 as Asian cues weigh

The key equity benchmarks traded nearly flat in afternoon trade as weakness across Asian markets weighed on domestic sentiment and prompted profit booking. Asian shares were under pressure amid concerns over the technology sector following a sharp fall in Nvidia shares and rising expectations of a US Federal Reserve rate hike. The Nifty hovered below the 25,250 mark after surrendering most of its morning gains. The index opened higher at 25,213.50 and climbed to an intraday high of 25,384.80 before gradually retreating to a low of 25,142.95 in early afternoon trade.

At 13:30 IST, the S&P BSE Sensex declined 78.11 points or 0.10% to 81,801.29. The Nifty 50 index fell 23.15 points or 0.09% to 25,231.90.

The broader market outperformed the frontline indices. The Nifty MidCap 150 Index rose 0.46% and the Nifty SmallCap 250 Index added 0.97%.

The market breadth was positive. On the NSE, 2004 shares rose and 1521 shares fell. A total of 108 shares were unchanged.

The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, fell 5.08% to 16.66.

Buzzing Index:

The Nifty Auto index declined 1.27% to 28,162.00, after rising 12.20% in the past eight sessions.

Motherson (down 2.58%), Mahindra & Mahindra (2.33%) and Hyundai Motor India (2.03%) led the losses.

Other notable decliners included TVS Motor (1.64%), Tata Motors Passenger Vehicles (1.49%), Maruti Suzuki (1.40%), Eicher Motors (1.15%) and Bajaj Auto (0.57%).

Uno Minda (up 1.32%), Bharat Forge (0.94%), Sona BLW Precision Forgings (0.15%) and Bosch (0.09%) bucked the trend.

Stocks in Spotlight:

Nava surged 5.58% after the company?s consolidated net profit surged 143.59% to Rs 315.42 crore in Q2 FY27 from Rs 129.49 crore in Q2 FY26. Revenue from operations jumped 29.94% YoY to Rs 1,252.31 crore in the quarter ended 30th September 2026.

Roto Pumps surged 12.45% after the company reported a 245.30% year-on-year increase in consolidated net profit to Rs 20.58 crore in Q2 FY27. Sequentially, net profit rose 122.49% from Rs 9.25 crore in Q1 FY27. Revenue from operations increased 54.65% year on year to Rs 100.15 crore from Rs 64.76 crore. Sequentially, revenue grew 32.47% from Rs 75.60 crore.

Global Market:

European equity indices opened higher while most Asian shares declined on Thursday as investors assessed renewed uncertainty surrounding Nvidia's leadership and persistent concerns over higher US interest rates.

The regional technology sector remained in focus following Wednesday's recovery in US semiconductor stocks. However, renewed uncertainty over Nvidia's leadership weighed on sentiment. The company's shares fell more than 8% in after-hours trading following reports that its board was considering the future of chief executive Jensen Huang. The reports cited allegations concerning his personal associations, which have not been independently established.

Japan reported an acceleration in wholesale inflation. The corporate goods price index rose 7.1% year-on-year in October, compared with 6.8% in September and market expectations of 6.5%. Higher fuel, chemical and semiconductor prices contributed to the increase. The data strengthened expectations of another Bank of Japan rate increase.

US stocks rallied on Wednesday, 11 November 2026, as a recovery in artificial intelligence and semiconductor shares helped offset concerns over higher interest rates.

The Dow Jones Industrial Average advanced 254.60 points or 0.49% to 52,486.49. The S&P 500 gained 98.45 points or 1.31% to 7,619.38, while the Nasdaq Composite jumped 400.31 points or 1.60% to 25,466.19.

Technology stocks led the advance. The Philadelphia Semiconductor Index surged 5.7%, with all its components ending higher. The S&P 500 technology sector gained 2.7%. The CBOE Volatility Index declined for a fourth consecutive session to 17.49.

CoreWeave surged 24.7% after its third-quarter results and improved financial outlook eased concerns about the sustainability of AI infrastructure spending. The company reported revenue of $3.66 billion, up 168% year-on-year, while adjusted EBITDA increased to $2.26 billion from $838 million.

The company raised its FY26 revenue guidance to $13 billion-$13.3 billion from its previous range. It also increased its adjusted operating income guidance to $1.275 billion-$1.375 billion. CoreWeave said it expected to achieve adjusted profitability in the first half of 2028.

Other AI-linked stocks also advanced. Nebius Group jumped 15.4%, while Applied Digital gained 7.4%. The strong performance reflected renewed investor interest in AI infrastructure companies following concerns over high capital expenditure and debt-funded expansion.

Anthropic's proposed public listing also remained in focus. The artificial intelligence company is targeting a valuation of up to $1.4 trillion and could raise as much as $64.4 billion through its share offering. The proposed listing is expected to test investor appetite for large AI-related offerings.

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