Bourses trade near neutral line in early afternoon session

Indian markets continued to trade near neutral line with positive bias in early afternoon session as traders were cautious ahead of RBI interest rate decision, which is going to be out in next week. Investors were braced for winter session of parliament will be held from December 1 to 19. However, buying in metal sector’s stock helped markets to trade slightly in green. Traders took note of finance ministry's latest report stating that the GST rate rationalisation gave a measurable boost to consumption, and the Indian economy is on a stable footing to navigate risks and maintain growth momentum through the current fiscal. It stated said that with inflationary pressures easing and recent tax reforms boosting household disposable incomes, the near-term consumption outlook appears increasingly positive. On the global front, Asian markets were trading mixed as China's industrial profits declined for the first time in three months in October. Industrial profits fell 5.5 percent year-on-year in October after rising 21.6 percent in September and 20.4 percent in August. 

The BSE Sensex is currently trading at 85760.20, up by 39.82 points or 0.05% after trading in a range of 85577.82 and 85969.89. There were 13 stocks advancing against 17 stocks declining on the index.

The broader indices were trading in red; the BSE Mid cap index declined 0.08%, while Small cap index was down by 0.14%.

The top gaining sectoral indices on the BSE were Metal up by 0.84%, Auto up by 0.54%, Basic Materials up by 0.42%, Consumer Discretionary up by 0.19% and Bankex was up by 0.16%, while Oil & Gas down by 0.92%, Energy down by 0.53%, Power down by 0.47%, Telecom down by 0.39% and PSU was down by 0.29% were the top losing indices on BSE.

The top gainers on the Sensex were Mahindra & Mahindra up by 1.92%, Adani Ports up by 1.21%, Kotak Mahindra Bank up by 0.98%, Sun Pharma up by 0.91% and SBI up by 0.79%. On the flip side, Power Grid down by 1.02%, Bharti Airtel down by 0.65%, Trent down by 0.64%, Bajaj Finserv down by 0.51% and Axis Bank down by 0.49% were the top losers.

Meanwhile, government has approved the Textiles Focused Research, Assessment, Monitoring, Planning and Start-up (Tex-RAMPS) Scheme, to strengthen research, innovation and competitiveness in textiles sector.

The scheme, with a total outlay of Rs 305 crore for the period FY 2025-26 to FY 2030-31, is co-terminus with the upcoming Finance Commission cycle and will be implemented as a Central Sector Scheme, fully funded by the Ministry of Textiles. Aimed at future-proofing India's textiles and apparel ecosystem, Tex-RAMPS is designed to address critical gaps in research, data systems, innovation support and capacity development. The Tex-RAMPS Scheme marks a significant step toward building a resilient, future-ready, and globally competitive textile ecosystem for India.

Union Minister of Textiles Giriraj Singh said that the Tex-RAMPS scheme brings together research, data, and innovation to empower India’s textile sector and position the nation as a global leader in sustainability, technology, and competitiveness. 

The CNX Nifty is currently trading at 26222.60, up by 7.05 points or 0.03% after trading in a range of 26172.40 and 26280.75. There were 22 stocks advancing against 28 stocks declining on the index.

The top gainers on Nifty were Adani Enterprises up by 2.75%, Mahindra & Mahindra up by 1.95%, Adani Ports up by 1.25%, Kotak Mahindra Bank up by 1.00% and JSW Steel up by 0.92%. On the flip side, HDFC Life Insurance down by 1.56%, SBI Life down by 1.50%, Shriram Finance down by 1.32%, Power Grid down by 0.99% and Trent down by 0.63% were the top losers.

Asian markets were trading mixed; Taiwan Weighted added 71.95 points or 0.26% to 27,626.48, Nikkei 225 surged 52.9 points or 0.11% to 50,220.00, Straits Times rose 17.53 points or 0.39% to 4,526.87 and Shanghai Composite was up by 13.34 points or 0.34% to 3,888.60. On the flip side, Hang Seng declined 24.93 points or 0.1% to 25,921.00, Jakarta Composite plunged 27.88 points or 0.33% to 8,517.99 and KOSPI was down by 60.32 points or 1.54% to 3,926.59.