Bourses trade at day’s low levels in early afternoon session

Indian markets traded at day’s low levels in early afternoon session amid profit booking. Traders avoided to take risk ahead of second quarter earning season. Traders overlooked the report that Commerce and Industry Minister Piyush Goyal has said that India and the US are in continuous dialogue on the proposed bilateral trade agreement, and all possibilities are there to meet the November deadline for concluding the talks. Besides, Prime Minister Narendra Modi is all set to meet U.K. Prime Minister Keir Starmer on October 9, 2025. The two Prime Ministers will take stock of progress in diverse aspects of the India-UK Comprehensive Strategic Partnership in line with ‘Vision 2035’, a focused and time bound 10-year Roadmap of programmes and initiatives in key pillars of trade and investment, technology and innovation, defence and security, climate and energy, health, education and people to people relations.

On the global front, Asian markets traded in red, mirroring a downbeat session on Wall Street overnight. Sentiment was further weighed by political risks in France and Japan and the ongoing U.S. government shutdown.

The BSE Sensex is currently trading at 81662.02, down by 264.73 points or 0.32% after trading in a range of 81653.48 and 82257.74. There were 9 stocks advancing against 21 stocks declining on the index.

The broader indices were trading in red; the BSE Mid cap index declined 0.57%, while Small cap index was down by 0.42%.

The top gaining sectoral indices on the BSE were IT up by 1.10%, TECK up by 1.03%, Consumer Durables up by 0.55% and Metal was up by 0.04%, while Realty down by 1.48%, Power down by 1.38%, Utilities down by 1.21%, Capital Goods down by 1.18% and PSU was down by 0.95% were the top losing indices on BSE.

The top gainers on the Sensex were Titan Company up by 4.11%, Infosys up by 1.81%, TCS up by 1.55%, HCL Tech up by 1.00% and Tata Steel up by 0.96%. On the flip side, Ultratech Cement down by 1.88%, Bharat Electronics down by 1.74%, Tata Motors down by 1.60%, Mahindra & Mahindra down by 1.54% and Reliance Industries down by 1.33% were the top losers.

Meanwhile, rating agency ICRA in its latest report has said that the organised gold loan (GL) market is likely to reach Rs 15 trillion mark in the current financial year (FY26), a year earlier than previously expected. It said the steady uptrend in gold prices, scaling new highs, is the key reason behind the sharper than envisaged expansion. Subsequently, ICRA now estimates the GL size to rise to Rs 18 trillion in FY27.

According to the report, GLs had expanded at a compounded annual growth rate (CAGR) of about 26% during FY24-FY25 and stood at Rs 11.8 trillion as of March 2025, with banks showing a slightly higher expansion rate vis-a-vis non-banking financial company (NBFCs). Over the longer term too, i.e., during FY20–FY25 (six years), the bank GL asset under management (AUM) grew faster at around 26% relative to the 20% increase recorded by NBFCs, leading to a decline in the share of the latter in the overall organised GL AUM. It noted that growth in overall GLs was primarily fuelled by agriculture and other loans secured by gold jewellery, which were extended by banks. The same accounted for more than 70% of the overall GL as of March 2024.

However, it said this segmental growth slowed significantly in FY25 as banks imposed stricter eligibility criteria and reclassified some of these loans under the retail/personal category.  The report said consequently, the share of retail/personal gold loans by banks increased to 18% (of the overall GLs) in March 2025 from 11% in March 2024 and the share of agriculture and other loans secured by gold jewellery declined to 63%. Banks remain the dominant player with 82% market share in overall GLs with NBFCs contributing to the rest. It noted that the share of NBFCs has declined from 22% in March 2021, indicating bank’ established position in this space. The overall NBFC GL AUM stood at about Rs. 2.4 trillion as of June 2025, growing by around 41% on a YoY basis. NBFC GLs are concentrated among a few players; and their share has been steadily declining.

The CNX Nifty is currently trading at 25014.80, down by 93.50 points or 0.37% after trading in a range of 25009.35 and 25192.50. There were 13 stocks advancing against 37 stocks declining on the index.

The top gainers on Nifty were Titan Company up by 4.08%, Infosys up by 1.67%, TCS up by 1.59%, Tata Steel up by 0.92% and Tech Mahindra up by 0.86%. On the flip side, Ultratech Cement down by 1.92%, Bharat Electronics down by 1.74%, JIO Financial down by 1.73%, Tata Motors down by 1.60% and Adani Enterprises down by 1.57% were the top losers.

Asian markets traded in red; Hang Seng declined 277.77 points or 1.03% to 26,680.00, Taiwan Weighted lost 148.27 points or 0.55% to 27,063.68, Nikkei 225 slipped 98.88 points or 0.21% to 47,852.00, Jakarta Composite plunged 31.55 points or 0.39% to 8,137.73 and Straits Times was down by 18.74 points or 0.42% to 4,453.52.