Post Session: Quick Review

Indian equity benchmarks snapped their six-day winning streak on Tuesday, amid weak global cues as investors await Nvidia earnings and US jobs data. After making slightly positive start, soon indices slipped into red amid profit booking at higher levels, with the IT and metal stocks witnesses selling pressure. In afternoon session, markets erased most of their losses, but ended lower as investors remained cautious ahead of the weekly F&O expiry.

Some of the important factors in trade:

India's exports drop 11.80% in October: Traders were concerned as the government data showed that India's exports contracted 11.80 per cent to $34.38 billion in October on account of the impact of high tariffs by the US, while the trade deficit widened to a record high of $41.68 billion, mainly due to a jump in gold imports.

India’s unemployment rate remains steady at 5.2% in October: Traders took note of The Ministry of Statistics and Programme Implementation (MoSPI) in its Periodic Labour Force Survey (PLFS) has said that the rate of unemployment for those aged 15 and above remained steady at 5.2 per cent in October. 

India to gain as US rolls back tariffs on certain agricultural products: Traders overlooked Commerce Secretary Rajesh Agrawal’s statement that the first phase of the proposed India-US bilateral trade agreement (BTA) is nearing closure and would address the hefty 50 per cent tariffs imposed by the Trump administration on Indian goods, in addition to resolving America's market access issues. 

Global front: European markets were trading in red, while Asian markets ended in red ahead of upcoming Nvidia earnings and a slew of U.S. economic data, including the delayed jobs report, which will be released almost seven weeks behind schedule due to the government shutdown.

The BSE Sensex ended at 84673.02, down by 277.93 points or 0.33% after trading in a range of 84558.36 and 85042.41. There were 7 stocks advancing against 23 stocks declining on the index. (Provisional)

The broader indices ended in red; the BSE Mid cap index fell 0.70%, while Small cap index was down by 0.85%. (Provisional)

The only gaining sectoral index on the BSE was Consumer Durables up by 0.21%, while Realty down by 1.98%, IT down by 1.15%, Metal down by 1.07%, Basic Materials down by 0.95% and Capital Goods down by 0.94% were the top losing indices on BSE. (Provisional)

The top gainers on the Sensex were Bharti Airtel up by 1.78%, Axis Bank up by 1.28%, Asian Paints up by 0.64%, Titan Company up by 0.37% and Power Grid Corp up by 0.24%. On the flip side, Tech Mahindra down by 2.20%, Infosys down by 1.46%, Bajaj Finserv down by 1.25%, Eternal down by 1.15% and Bajaj Finance down by 1.11% were the top losers. (Provisional)

Meanwhile, India and Russia have held high-level interagency consultations in New Delhi to review the full spectrum of maritime cooperation. The discussions reaffirmed the deep and enduring Special and Privileged Strategic Partnership between India and Russia, grounded in mutual trust, respect and a shared vision for long-term economic and strategic cooperation. 

Both sides acknowledged the strong guidance provided by Prime Minister Narendra Modi and President Vladimir Putin, which continues to shape the expanding India-Russia partnership. It discussed multiple issues to explore possible collaboration as well as cooperation including shipbuilding, trade economic, scientific and technical cooperation.

Both sides expressed satisfaction with the comprehensive and forward-looking discussions and reaffirmed their commitment to deepen cooperation across shipbuilding, port development, maritime logistics, Arctic operations, research and training. The meeting concluded with a shared resolve to build a more resilient, efficient and sustainable maritime partnership that contributes to the long-term prosperity of both nations and strengthens regional and global connectivity.

The CNX Nifty ended at 25910.05, down by 103.40 points or 0.40% after trading in a range of 25876.50 and 26029.85. There were 9 stocks advancing against 41 stocks declining on the index. (Provisional)

The top gainers on Nifty were Bharti Airtel up by 1.75%, Axis Bank up by 1.26%, Asian Paints up by 0.63%, Maruti Suzuki up by 0.33% and Shriram Finance up by 0.28%. On the flip side, Interglobe Aviation down by 2.27%, Tech Mahindra down by 2.12%, Tata Consumer Products down by 2.10%, JIO Financial Services down by 1.94% and Infosys down by 1.41% were the top losers. (Provisional)

European markets were trading lower; France’s CAC fell 117.32 points or 1.45% to 8,001.70, Germany’s DAX lost 312.42 points or 1.32% to 23,278.10 and UK’s FTSE 100 decreased 100.93 points or 1.04% to 9,574.50.

Asian markets settled lower on Tuesday tracking Wall Street’s fall overnight ahead of a slew of US economic data, including the delayed jobs report, which could influence the Federal Reserve’s policy decisions next month. Seoul shares fell, led by decline in tech shares on valuation concerns. Chinese and Hong Kong shares plunged weighed down by new energy shares and as diplomatic tensions between China and Japan deepened. Japanese shares dropped as tourism-related shares continued to fall after China advised citizens to avoid travel and study in Japan amid rising political tensions, while the yen soared on intervention fears.