Indices drift lower; breadth negative
Barring pharma all the sectoral indices on the NSE were traded in red with private bank , auto and PSU bank shares leading the fall.
At 09:25 IST, the barometer index, the S&P BSE Sensex declined 499.96 points or 0.61% to 81,417.83. The Nifty 50 index fell 179 points or 0.69% to 25,126.
In the broader market, the BSE 150 MidCap Index dropped 0.29% and the BSE 250 SmallCap Index shed 0.22%.
The market breadth was negative. On the BSE, 1,269 shares rose and 1,779 shares fell. A total of 229 shares were unchanged.
Foreign portfolio investors (FPIs) bought shares worth Rs 7,830.60 crore, while domestic institutional investors (DIIs) were net sellers of Rs 6,331.17 crore in the Indian equity market 12 November 2026, according to provisional data.
Numbers to Track:
The yield on India's 10-year benchmark federal paper rose 0.10% to 7.224 compared with the previous session close of 7.224.
In the foreign exchange market, the rupee edged higher against the dollar. The partially convertible rupee was hovering at 94.0700 compared with its close of 94.1200 during the previous trading session.
MCX Gold futures for 4 December 2026 settlement rose 0.81% to Rs 1,37,319.
The US Dollar Index (DXY), which tracks the greenback's value against a basket of currencies, was down 0.02% to 103.16.
The United States 10-year bond yield declined 0.43% to 5.124.
In the commodities market, Brent crude for December 2026 settlement declined 33 cents or 0.34% to $95.49 a barrel
Stocks in Spotlight:
Manappuram Finance shed 0.73%. The NBFC reported a 222.7% jump in consolidated net profit to Rs 701 crore in Q2 FY27 from Rs 217.3 crore in Q2 FY26. Revenue from operations increased 44.7% to Rs 1,958.7 crore from Rs 1,353.6 crore.
EIH added 2.10% after the company reported a 19.9% rise in consolidated net profit to Rs 136.4 crore in Q2 FY27 from Rs 113.8 crore in Q2 FY26. Revenue increased 16.1% to Rs 694.2 crore from Rs 597.9 crore.
TD Power Systems reported a 105.6% surge in consolidated net profit to Rs 123.75 crore in Q2 FY27 from Rs 60.2 crore in Q2 FY26. Revenue from operations increased 85.94% to Rs 841.3 crore from Rs 452.5 crore.
Global Market:
Dow futures rose 87 points, signalling a positive opening for US stocks.
Asian indices traded mixed on Friday amid overnight losses on Wall Street. Investors continued to assess the leadership change at Nvidia after co-founder and chief executive Jensen Huang resigned. Technology shares remained in focus as market participants evaluated the potential implications for the artificial intelligence industry.
US stocks ended lower on Thursday, as Nvidia's leadership change unsettled investors and rising oil prices added to inflation concerns. The Dow Jones Industrial Average declined 189.40 points or 0.36% to 52,297.09. The S&P 500 fell 26.98 points or 0.35% to 7,592.40, while the Nasdaq Composite dropped 100.10 points or 0.39% to 25,366.09.
The benchmarks recovered from steeper early losses but ended in negative territory. The S&P 500 had fallen nearly 1% during the session before paring its losses. Energy stocks gained 1.5%, making the sector the best performer among the major S&P 500 industry groups.
Nvidia shares fell 4.34% to $166.19 after co-founder and chief executive Jensen Huang resigned with immediate effect. The stock had plunged as much as 14.3% during the session before recovering part of its losses.
The company appointed chief financial officer Colette Kress as interim chief executive while its board searches for a permanent successor. Harvey C. Jones was appointed chairman of the board. The company did not disclose a reason for Huang's resignation in its announcement.
Nvidia's competitors Advanced Micro Devices and Broadcom gained 5.86% and 5.54%, respectively. Arista Networks advanced 5.06%.
AI infrastructure stocks, however, faced selling pressure. Nebius Group plunged 16.84% after lowering its 2026 revenue outlook to the lower end of its previous guidance range of $3 billion-$3.4 billion.
US initial jobless claims increased by 9,000 to 200,000 in the week ended 7 November 2026, compared with economists' expectations of 195,000. The previous week's reading was revised to 191,000.
Continuing claims declined by 20,000 to 1.697 million in the week ended 31 October 2026. The figures indicated that layoffs remained relatively low despite higher borrowing costs and uncertainty surrounding the economic outlook.
Separately, existing home sales declined 5.5% in October to an annualised rate of 3.75 million units, compared with the market expectation of 3.85 million. This was the lowest level since August 2010. Sales also declined 8.8% year-on-year as higher mortgage rates weighed on housing demand.
Investors continued to price in further Federal Reserve tightening following stronger-than-expected inflation data earlier in the week. Market expectations indicated a near-certain 25-basis-point rate increase in December, with some pricing for a larger move.
The US Producer Price Index for October is scheduled for release later on Friday. Economists expect headline producer inflation to rise 0.4% month-on-month and 6.6% year-on-year, compared with increases of 1.3% and 6.3%, respectively, in September. These are forecasts, not released figures.
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