Post Session: Quick Review

Indian equity benchmarks extended their losing streak for a fourth consecutive session, dragged by selling in IT and Banking stocks. Markets made negative start amid renewed trade tensions and U.S. President Donald Trump blaming China and India during his UN General Assembly address, calling the two nations the primary funders of the Ukraine war. In last leg of trade, indices ended near day’s low points.

Some of the important factors in trade:

Foreign fund outflows: Sentiments remained downbeat as Foreign institutional investors offloaded shares worth Rs 3,551.19 crore on a net basis on Tuesday. 

OECD raises India’s 2025 GDP growth forecast to 6.7%: Traders overlooked the Organization for Economic Cooperation and Development’s (OECD) report in which it 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. 

Indian delegation visits UK to deepen trade textile trade: Trader took note of Indian delegation led by Neelam Shami Rao, Secretary, Ministry of Textiles, Government of India, is visiting London to showcase India's strength across the textile value chain and to deepen India-UK trade engagement.

Global front: European markets were trading red, after Federal Reserve Chair Jerome Powell in a speech last night said that equity prices are fairly highly valued by many measures. Asian markets ended mixed after several Federal Reserve officials, including Fed Chair Jerome Powell reiterated caution over further policy easing. 

The BSE Sensex ended at 81715.63, down by 386.47 points or 0.47% after trading in a range of 81607.84 and 82045.47. There were 8 stocks advancing against 22 stocks declining on the index. (Provisional)

The broader indices ended in red; the BSE Mid cap index was down by 0.85%, while Small cap index down by 0.50%. (Provisional)

The only gaining sectoral index on the BSE was FMCG up by 0.11%, while Realty down by 2.47%, Utilities down by 1.19%, Capital Goods down by 1.09%, Auto down by 1.06%, and Power down by 1.06% were the top losing indices on BSE. (Provisional)

The top gainers on the Sensex were Power Grid Corp up by 1.54%, Hindustan Unilever up by 1.48%, NTPC up by 1.36%, HCL Technologies up by 0.96% and Maruti Suzuki up by 0.88%. On the flip side, Tata Motors down by 2.57%, Bharat Electronics down by 2.18%, Ultratech Cement down by 1.60%, Tech Mahindra down by 1.20% and Mahindra & Mahindra down by 0.89% were the top losers. (Provisional)

Meanwhile, S&P Global Ratings in its Economic Outlook Asia-Pacific Q4 2025: Growth To Ease On External Strain report has retained India's  gross domestic product (GDP) growth forecast at 6.5% in the current fiscal. India's GDP grew at 7.8% in the April-June quarter. It stated ‘We forecast India's GDP growth to hold steady at 6.5 per cent this fiscal year (year ending March 31, 2026). We expect domestic demand to remain strong, supported by a largely benign monsoon season, cuts in the income and the goods and services tax, and accelerating government investment.’

Further, it said a sharper-than-expected decrease in food inflation will help keep inflation low in the current year. It added ‘This leaves room for further monetary policy adjustments, and we anticipate a 25 bps rate cut by the Reserve Bank of India this fiscal year.’

Besides, it said that across the region, relatively resilient domestic demand should dampen the impact from stronger external headwinds following the increase in US import tariffs and slower global growth. U.S. tariffs on imports from different Asian economies will shape both their export outlook and their role in regional supply chains.

The CNX Nifty ended at 25056.90, down by 112.60 points or 0.45% after trading in a range of 25027.45 and 25149.85. There were 15 stocks advancing against 35 stocks declining on the index. (Provisional)

The top gainers on Nifty were Power Grid Corp up by 1.63%, NTPC up by 1.34%, Hindustan Unilever up by 1.08%, Tata Consumer Products up by 1.03% and Maruti Suzuki up by 0.94%. On the flip side, Tata Motors down by 2.62%, Bharat Electronics down by 2.23%, Adani Enterprises down by 2.11%, Wipro down by 2.02% and Indusind Bank down by 1.92% were the top losers. (Provisional)

European markets were trading lower; UK’s FTSE 100 decreased 9.47 points or 0.1% to 9,213.85, France’s CAC fell 26.92 points or 0.34% to 7,845.10 and Germany’s DAX lost 36.53 points or 0.15% to 23,574.80.

Asian markets settled mixed on Wednesday tracking Wall Streets’ overnight fall after several Federal Reserve officials, including Fed Chair Jerome Powell reiterated caution over further policy easing. Powell said the Federal Reserve is facing a challenging situation and that there is no risk-free path to achieve the central bank's dual mandate of maintaining full employment and price stability in the US economy. Meanwhile, Japanese shares rose slightly as traders returned to their desks after a public holiday and shrugged off data that showed Japanese manufacturing activity shrank more than expected in September to hit a six-month low. Chinese shares jumped, led by gains in technology shares amid renewed enthusiasm for artificial intelligence and semiconductors.