Indian equity benchmarks failed to hold their heads above their respective neutral lines during early afternoon deals, and came back in red again, despite positive cues from other Asian markets. Both indices, Sensex and Nifty, were witnessing fluctuations after opening on a positive note, as profit-booking in select heavyweight stocks, particularly IT and Telecom counters, weighed on overall market sentiment. However, buying interest in banking and pharmaceutical stocks helped limit the downside. The street took a note of reports that India and Hungary are exploring avenues to expand trade, investment and industrial partnerships across several high-potential sectors. In this regard, Minister of State for Commerce and Industry, and Electronics and Information Technology, Jitin Prasada, visited Hungary from November 4-6, 2026.
On the global front, Asian markets were trading mostly in green, after overall consumer prices in China were flat on a seasonally adjusted monthly basis in September. That was in line with expectations following the 0.2 percent increase in September. On a yearly basis, inflation rose 0.7 percent - shy of expectations for 0.8 percent and down from 0.9 percent in the previous month.
The BSE Sensex is currently trading at 80687.49, down by 311.91 points or 0.39% after trading in a range of 80519.31 and 81339.41. There were 9 stocks advancing against 21 stocks declining on the index.
The top gaining sectoral indices on the BSE were Healthcare up by 1.15%, Bankex up by 0.62%, PSU up by 0.57% and Realty up by 0.50%, while Telecom down by 2.14%, TECK down by 2.00%, IT down by 1.99%, Basic Materials down by 0.78% and FMCG down by 0.64% were the top losing indices on BSE.
The top gainers on the Sensex were Trent up by 1.98%, State Bank of India up by 1.59%, HDFC Bank up by 1.21%, Larsen & Toubro up by 0.91% and NTPC up by 0.79%. On the flip side, HCL Technologies down by 2.98%, Infosys down by 2.59%, Tata Steel down by 2.40%, Ultratech Cement down by 2.36% and Bajaj Finance down by 1.86% were the top losers.
Meanwhile, Union Minister G Kishan Reddy has said that India aims to increase its annual steel production to 300 million tonnes by 2030 and 500 million tonnes by 2047. He noted that India currently produces around 168 million tonnes of steel annually, and stressed that higher production would help make steel affordable for the common man.
On growing steel demand, he said that the growing demand for steel is linked to the aspirations of people across income groups to own a house, with steel being an essential component of construction. He also emphasized that affordable availability of steel and cement is crucial to fulfilling people’s aspirations whether it is a house built under the Pradhan Mantri Awas Yojana or an individual home. Besides, he highlighted governments efforts to increase iron ore production across the country to ensure adequate raw material availability for the steel industry.
He added that Goa could play an important role in this effort by expanding its mining activities, subject to applicable Supreme Court restrictions. Moreover, he called for the utilisation of old mining dumps in Goa, pointing out that considerable quantities of iron ore could still be extracted from them. He said that the central government will extend all possible assistance to the Goa government to increase mining activities, generate employment and strengthen the state's contribution to the country's mineral and steel sector.
The CNX Nifty is currently trading at 24903.40, down by 83.00 points or 0.33% after trading in a range of 24838.75 and 25084.05. There were 15 stocks advancing against 35 stocks declining on the index.
The top gainers on Nifty were State Bank of India up by 2.01%, Trent up by 1.45%, HDFC Bank up by 1.23%, Hindalco Industries up by 1.21% and NTPC up by 1.01%. On the flip side, HCL Technologies down by 3.10%, Tata Steel down by 2.66%, Infosys down by 2.40%, Ultratech Cement down by 2.34% and Bharti Airtel down by 1.96% were the top losers.
Asian markets were trading mostly in green; Jakarta Composite gained 40.28 points or 0.8% to 5,090.71, Nikkei 225 surged 1365.23 points or 2.32% to 58,800.00, Shanghai Composite strengthened 11.61 points or 0.32% to 3,660.79 and Taiwan Weighted added 1960.06 points or 4.7% to 41,661.70, while KOSPI dropped 40.84 points or 0.81% to 5,018.85 and Hang Seng declined 0.86 points or 0% to 24,481.00.