Bourses trim some losses in early afternoon session

Indian markets trimmed some of their losses but remained in red during early afternoon session amid geopolitical uncertainties. U.S. President Donald Trump accused India and China of being the primary funders of Russia's war in Ukraine through their continued purchase of Russian oil. However, losses got trimmed as Organization for Economic Cooperation and Development (OECD) in its latest 'World Economic Outlook' report has raised India's Gross Domestic Product (GDP) growth by 40 bps to 6.7 per cent for fiscal year 2025-26 (FY26) from its earlier projection of 6.3 per cent in June -- driven by strong domestic demand and robust GST reforms. On the global front, Asian markets were trading mixed as Japan's private sector grew at the slowest pace in four months in September as the strong rise in services activity was partially offset by a steeper fall in manufacturing production. 

The BSE Sensex is currently trading at 81820.66, down by 281.44 points or 0.34% after trading in a range of 81607.84 and 82045.47. There were 12 stocks advancing against 18 stocks declining on the index.

The broader indices were trading in red; the BSE Mid cap index declined 0.50%, while Small cap index was down by 0.26%.

The only gaining sectoral indices on the BSE were FMCG up by 0.37% and PSU was up by 0.02%, while Realty down by 2.12%, Auto down by 0.71%, Capital Goods down by 0.70%, IT down by 0.66% and TECK was down by 0.65% were the top losing indices on BSE.

The top gainers on the Sensex were Hindustan Unilever up by 1.99%, NTPC up by 1.53%, Maruti Suzuki up by 0.94%, HCL Tech up by 0.89% and Larsen & Toubro up by 0.84%. On the flip side, Tata Motors down by 1.92%, Bharat Electronics down by 1.63%, Tech Mahindra down by 1.23%, HDFC Bank down by 1.10% and Axis Bank down by 1.03% were the top losers.

Meanwhile, ratings agency ICRA in its latest report has said that two-wheeler sales in India are estimated to grow by 6-9 per cent in FY26 as compared to the previous fiscal, riding on the recent GST rate reduction, which is anticipated to support affordability and stimulate demand, besides steady replacement demand, urban recovery and healthy rural incomes driven by a normal monsoon. It said domestic wholesale volumes grew by 7.2 per cent on a YoY basis in August 2025 to 18 lakh units, as OEMs maintained healthy dispatches ahead of the festive season. 

ICRA further said retail sales, however, grew by a marginal 2.2 per cent YoY, with growth constrained by excess rains and some purchase deferment linked to the GST rate cut; a pick-up is expected during the upcoming festive season. In the electric two-wheeler segment, it said retail volumes stood at 1,04,725 units in August 2025, showing modest sequential growth of 1.8 per cent, with penetration remaining in the 6-7 per cent range. 

On the tractors segment, the ratings agency said the recent GST rate cut on tractors to 5 per cent is expected to further support demand, particularly during the upcoming festive season. It added that the segment has demonstrated robust performance, with wholesale volumes reporting a significant growth of 28.2 per cent YoY in August 2025, building on a cumulative growth of 11.7 per cent YoY for the first five months of FY2026. It stated that tractor volumes are estimated to grow at a moderate pace of 4-7 per cent in FY2026. This growth is firmly backed by above-normal monsoons, which are expected to support agricultural production. 

It further said the early onset of monsoon has led to the country receiving rainfall at 108 per cent of the long period average until September 17, 2025. Consequently, tractor demand remained strong in August, with retail volumes rising by 30.1 per cent YoY, driven by positive farmer sentiments and adequate rainfall. It added that the industry also anticipates potential pre-buying ahead of the TREM V emission norms proposed to take effect from April 1, 2026.  

The CNX Nifty is currently trading at 25095.55, down by 73.95 points or 0.29% after trading in a range of 25027.45 and 25149.85. There were 21 stocks advancing against 28 stocks declining on the index, while 1 stock remained unchanged.

The top gainers on Nifty were Hindustan Unilever up by 2.01%, NTPC up by 1.57%, Nestle up by 1.19%, Larsen & Toubro up by 0.97% and HCL Tech up by 0.95%. On the flip side, Tata Motors down by 1.95%, Wipro down by 1.75%, Bharat Electronics down by 1.61%, Bajaj Auto down by 1.47% and Hero MotoCorp down by 1.35% were the top losers.

Asian markets were trading mixed; Hang Seng advanced 408.88 points or 1.56% to 26,568.00, Nikkei 225 surged 54.34 points or 0.12% to 45,548.00, Shanghai Composite strengthened 32.62 points or 0.85% to 3,854.45 and Jakarta Composite was up by 24.94 points or 0.31% to 8,150.14. On the flip side, Straits Times fell 12.68 points or 0.29% to 4,289.99, KOSPI dropped 14.05 points or 0.4% to 3,472.14 and Taiwan Weighted was down by 50.64 points or 0.19% to 26,196.73.