Markets make recovery to trade higher in late trade

Indian equity markets traded higher in late afternoon session as buying in IT and Auto stocks helped markets to wipe-out all of initial losses. The US President Donald Trump comments that the US was ‘pretty close’ to a trade deal with New Delhi, sparked optimism about India-US trade deal. Besides, the report released by the Ministry of Statistics showing a decline in India’s unemployment rate (UR), has kept the sentiments upbeat. The report showed that the unemployment rate (UR) in India among persons of age 15 years and above declined to 5.2 per cent in July-September this year from 5.4 per cent in the previous quarter of April-June. 

On the global front, Asian equity markets were trading mixed as investors contemplated the implications of President Trump's dividend plan for Americans and the possible effects on stock and crypto markets. European equity markets were trading higher after the U.S. Senate passed a short-term funding bill to end the longest government shutdown in U.S, history.

The BSE Sensex is currently trading at 83859.77, up by 324.42 points or 0.39% after trading in a range of 83124.03 and 83877.27. There were 24 stocks advancing against 6 stocks declining on the index.

The broader indices were trading mixed; the BSE Mid cap index gained 0.11%, while Small cap index was down by 0.15%.

The top gaining sectoral indices on the BSE were Telecom up by 1.52%, TECK up by 1.07%, Capital Goods up by 0.99%, IT up by 0.94% and Metal up by 0.88%, while Healthcare down by 0.30% and Realty down by 0.04% were the only losing indices on BSE.

The top gainers on the Sensex were Bharat Electronics up by 2.40%, Adani Ports & SEZ up by 1.92%, Eternal up by 1.82%, HCL Technologies up by 1.76% and Mahindra & Mahindra up by 1.71%. On the flip side, Bajaj Finance down by 7.45%, Bajaj Finserv down by 6.29%, Tata Motors Passenger Vehicles down by 0.89%, Power Grid Corporation down by 0.48% and Kotak Mahindra Bank down by 0.08% were the top losers.

Meanwhile, Indian exporters from the engineering sector will participate in the four-day exhibition in Moscow this week with an aim to boost the country's outbound shipments amid steep tariffs imposed by the US on domestic goods. The delegation is led by Federation of Indian Export Organisations (FIEO) President SC Ralhan.

Ralhan said that the MITEX 2025 will provide a platform for domestic exporters to showcase their quality goods to the global buyers. He said Commerce Secretary Rajesh Agrawal will chair a buyer-seller meeting in Moscow on November 14, 2025. He said over 20 Indian companies are expected to showcase a wide spectrum of products, including Hand Tools, Engineering Goods, Industrial Hardware, Machinery Parts, Fasteners and related industrial solutions.

He said Russia has been an important business partner for India, and the engineering and tools sector presents significant potential for collaboration. He said ‘our engineering exports to Russia are growing rapidly and expected to reach $1.75 billion this year. He said India's participation at MITEX aims to deepen commercial ties and promote Indian manufacturing excellence in the Russian market, thereby further helping in boosting bilateral trade between both the nations.

The CNX Nifty is currently trading at 25696.70, up by 122.35 points or 0.48% after trading in a range of 25449.25 and 25699.90. There were 42 stocks advancing against 8 stocks declining on the index.

The top gainers on Nifty were Interglobe Aviation up by 3.03%, Bharat Electronics up by 2.37%, JSW Steel up by 2.15%, Adani Ports & SEZ up by 1.94% and Eternal up by 1.91%. On the flip side, Bajaj Finance down by 7.45%, Bajaj Finserv down by 6.25%, ONGC down by 1.15%, Tata Motors Passenger Vehicles down by 0.90% and Max Healthcare Inst down by 0.59% were the top losers.

Asian equity markets were trading mixed; Hang Seng advanced 52.94 points or 0.2% to 26,702.00, Straits Times rose 51.48 points or 1.15% to 4,539.61 and KOSPI increased 33.15 points or 0.81% to 4,106.39, while Nikkei 225 slipped 270.76 points or 0.53% to 50,641.00, Taiwan Weighted lost 84.56 points or 0.3% to 27,784.95, Shanghai Composite weakened 15.84 points or 0.4% to 4,002.76 and Jakarta Composite plunged 37.09 points or 0.44% to 8,354.15.

European equity markets were trading higher; UK’s FTSE 100 increased 96.9 points or 0.99% to 9,884.05, France’s CAC rose 105.33 points or 1.31% to 8,055.51 and Germany’s DAX gained 47.01 points or 0.2% to 24,007.00.