Mid Session Commentary


Indices tumble in early trade; breadth weak
(09:31, 07 Nov 2025)
The key equity benchmarks traded with substantial losses in early trade, supported by weak global cues. Investors will keep a close watch on the ongoing Q2 earnings season, crude oil prices and other global developments. The Nifty slipped above the 25,350 mark.

All the sectoral indices on the NSE were traded in red with IT, consumer durables and PSU Bank shares declining the most.

At 09:25 IST, the barometer index, the S&P BSE Sensex, declined 448.20 points or 0.54% to 82,862.81. The Nifty 50 index fell 173.75 points or 0.68% to 25,335.85.

The broader market underperformed the frontline indices. The S&P BSE Mid-Cap index fell 0.96% and the S&P BSE Small-Cap index tumbled 1.18%.

The market breadth was weak. On the BSE, 869 shares rose and 2,141 shares fell. A total of 147 shares were unchanged.

Foreign portfolio investors (FPIs) sold shares worth Rs 3,263.21 crore, while domestic institutional investors (DIIs) were net buyers to the tune of Rs 5,283.91 crore in the Indian equity market on 06 November 2025, provisional data showed.

Numbers to Track:

The yield on India's 10-year benchmark federal paper rose 0.14% to 6,523 from the previous close of 6.514.

In the foreign exchange market, the rupee edged lower against the dollar. The partially convertible rupee was hovering at 88.6550 compared with its close of 88.6300 during the previous trading session.

MCX Gold futures for 5 December 2025 settlement rose 0.25% to Rs 120,911.

The US Dollar Index (DXY), which tracks the greenback's value against a basket of currencies, was up 0.08% to 99.79.

The United States 10-year bond yield fell 0.07% to 4.090.

In the commodities market, Brent crude for December 2025 settlement advanced 19 cents or 0.30% to $63.57 a barrel.

Stocks in Spotlight:

GlaxoSmithKline Pharmaceuticals fell 1.45%. The company reported a 2% year-on-year increase in consolidated net profit to Rs 257 crore for the quarter, compared with Rs 253 crore in the same period last year. Revenue from operations declined 3.1% to Rs 980 crore from Rs 1,011 crore a year ago.

Crompton Greaves Consumer Electricals declined 1.53% after the company reported a 43% year-on-year decline in consolidated net profit to Rs 71.2 crore for the quarter, compared with Rs 125 crore in the same period last year. Revenue rose 1% to Rs 1,916 crore from Rs 1,896 crore a year ago.

GMM Pfaudler fell 2.81%. The company reported a sharp rise in consolidated net profit to Rs 41.4 crore for the quarter, compared with Rs 15.2 crore in the corresponding period last year. Revenue grew 12% year-on-year to Rs 902 crore from Rs 805 crore.

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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