Post by : Badri Ariffin

Mumbai, November 7 — India’s equity markets commenced trading on a downturn Thursday, as investors engaged in profit-taking after substantial October gains. Despite favorable corporate earnings and advancements in India-US trade discussions lending some support, market sentiment turned bearish.

By 11:35 am, the BSE Sensex registered a decline of 0.21%, sitting at 83,134.30 points, while the Nifty 50 dropped 0.22% to 25,454.35 points. Over the course of the week, both indices have experienced an approximate 1.5% dip, following a 4.5% surge in October. Notably, all major sectors opened the day in negative territory.

In the Nifty 50 basket, leading decliners included Bharti Airtel, HCL Technologies, Tech Mahindra, NTPC, TCS, and Maruti Suzuki. Conversely, ITC, ICICI Bank, and Eternal Ltd. registered slight increases. Shares of Bharti Airtel plummeted nearly 4% due to a block deal involving 5.1 crore shares, coinciding with reports of Singapore’s Singtel reducing its stake at a 3.1% discount.

Amber Enterprises saw a sharp decline of 12.5% after revealing a Q2 FY26 loss, attributed to a slowdown in the consumer durables sector, while Crompton Greaves fell 2% following a drop in quarterly profits. In contrast, Lupin rose by 1.3%, and LIC of India recorded a 1% increase in light of robust quarterly results.

Retail investors maintained their presence in the market, as domestic institutions bought stocks valued at ₹5,283.91 crore. In contrast, foreign investors sold off equities worth ₹3,263.21 crore, contributing to the downward pressure on the indices.

Investor sentiment remains cautious while they evaluate global interest rate developments and domestic growth indicators. Although the potential for short-covering exists to trigger a market rebound, no definitive catalysts have emerged to alter the prevailing downward trend.

#India News