The frontline indices continued to trade with modest losses in the mid-morning trade as persistent selling by foreign institutional investors (FIIs) and weak global cues weighed on investor sentiment. The Nifty traded below the 25,800 level, while metal stocks extended losses for the second consecutive trading session.
At 11:30 IST, the barometer index, the S&P BSE Sensex, tumbled 235.34 points or 0.28% to 84,169.12. The Nifty 50 index fell 80.05 points or 0.31% to 25,797.80.
The broader market outperformed the frontline indices. The S&P BSE Mid-Cap index shed 0.02%, while the S&P BSE Small-Cap index slipped 0.09%.
The market breadth was negative. On the BSE, 1,795 shares rose and 2,016 shares fell. A total of 220 shares were unchanged.
Buzzing Index:
The Nifty Metal index declined 0.89% to 10,633.90. The index fell 1.33% in the two consecutive trading session.
Jindal Stainless (down 2.18%), Vedanta (down 2.15%), National Aluminium Company (down 1.51%), Hindalco Industries (down 1.31%) and Tata Steel (down 1.08%), Lloyds Metals & Energy (down 1.04%), Adani Enterprises (down 0.94%), Jindal Steel (down 0.8%), NMDC (down 0.7%) and Steel Authority of India (down 0.36%) tumbled.
Stocks in Spotlight:
Gravita India jumped 5.03% after the company’s consolidated net profit jumped 33.31% to Rs 95.99 crore on 11.65% increase in revenue from operations to Rs 1,035.50 crore in Q2 FY26 over Q2 FY25.
United Spirits rallied 5.11% after the company’s standalone net profit increased 47.5% to Rs 494.22 crore in Q2 FY25, compared with Rs 335 crore in Q2 FY25. Revenue from operations (excluding net excise duty) jumped 11.5% to Rs 3,170 crore in Q2 September 2025
Global Markets:
Most Asian shares traded lower on Friday despite easing tensions between Washington and Beijing after the meeting between U.S. President Donald Trump and Chinese President Xi Jinping.
During their high-stakes discussions in South Korea on Thursday, both leaders reached a partial trade agreement, averting a potential escalation in their dispute over rare earth exports—an issue that had threatened to reignite a full-blown trade war between the world’s two largest economies.
Meanwhile, China's factory activity shrank for a seventh month in October, an official survey showed on Friday, keeping alive calls for further stimulus to boost domestic demand, with efforts to ship goods abroad merely exporting price wars.
The official purchasing managers' index (PMI) fell to 49.0 in October from 49.8 in September, a six-month low, the National Bureau of Statistics' survey showed on Friday. It remained below the 50-mark separating growth from contraction.
On Wall Street, however, major U.S. indexes slipped as investors digested mixed Big Tech earnings and the outcome of the Trump–Xi talks. The S&P 500 fell 0.99% to 6,822.34, the Nasdaq Composite declined 1.57% to 23,581.14, and the Dow Jones Industrial Average eased 0.23% to 47,522.12.
As part of the agreement, the U.S. reduced tariffs on Chinese fentanyl-related imports to 10%, bringing overall tariffs on Chinese goods down to 47% from 57%. In return, Beijing pledged to curb fentanyl flows into the U.S. and increase purchases of American soybeans and other agricultural products. China also postponed new restrictions on rare earth exports by a year.
However, key sticking points remain unresolved—including the export of Nvidia chips and the ongoing TikTok divestiture dispute. China’s Ministry of Commerce said it remains open to discussions with Washington on TikTok but offered no further details.