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Domestic indices remain in red in late morning deals
Oct-28-2025

Indian equity markets remained in red and were trading lower with cut of over quarter percent in late morning deals on account of selling by funds and retail investors. Selling in Bajaj Finserv, ICICI Bank, Bajaj Finance, Titan and Tech Mahindra companies’ stocks dragged the markets lower. Further, weaknesses in other Asian markets weighed on the domestic sentiments. Cautiousness also came in markets as the NCAER in its latest Survey said that business sentiments in India moderated in Q2FY26, following three consecutive quarters of improvement, amid high global uncertainties, including additional US tariffs. 

On the global front, Asian markets were trading mostly in red as traders remained cautious and were reluctant to take major positions ahead of the monetary policy announcements from the European Central Bank, the US Fed and the Bank of Japan this week. Back home, on the BSE sectoral front, traders were seen pilling up positions in Metal, Basic Materials, Industrials and Telecom, while selling was witnessed in Consumer Durables, Realty, IT, Utilities and FMCG.

The BSE Sensex is currently trading at 84442.40, down by 336.44 points or 0.40% after trading in a range of 84297.91 and 84986.94. There were 9 stocks advancing against 21 stocks declining on the index.

The broader indices were trading in green; the BSE Mid cap index was up by 0.04%, while Small cap index up by 0.19%.

The top gaining sectoral indices on the BSE were Metal up by 0.96%, Basic Materials up by 0.48%, Industrials up by 0.09% and Telecom up by 0.07%, while Consumer Durables down by 0.84%, Realty down by 0.73%, IT down by 0.70%, Utilities down by 0.49% and FMCG down by 0.47% were the top losing indices on BSE.

The top gainers on the Sensex were Tata Steel up by 2.38%, Eternal up by 0.60%, Kotak Mahindra Bank up by 0.40%, Adani Ports up by 0.21% and Larsen & Toubro up by 0.14%. On the flip side, Bajaj Finserv down by 1.73%, ICICI Bank down by 1.24%, Bajaj Finance down by 1.16%, Titan down by 1.11% and Tech Mahindra down by 1.03% were the top losers.

Meanwhile, the finance ministry in its latest report has suggested that India’s growth outlook for FY26 remains strong, supported by domestic demand, lower inflation, monetary easing, and the positive effects of GST reforms despite global economic and trade policy uncertainties. It added that despite of global uncertainties, country’s economy gained momentum in Q2 FY26. Further, various supply-side High Frequency Indicators (HFIs) have displayed healthy trends while demand conditions continued to improve with the GST reforms and festive season sentiments spurring consumption. It highlighted that the IMF and the RBI have revised their FY26 growth forecasts for India upwards from 6.4% and 6.5% to 6.6% and 6.8%, respectively.

On the trade front, it said that India's trade performance remains robust, with strong services exports effectively offsetting the merchandise trade deficit. It noted that while trade deal negotiations with the US continue, the merchandise trade data for September 2025 has presented early evidence of diversification of export destinations. With regard to foreign investments, it said the increase in gross FDI inflows signals the country's appeal as an attractive investment destination. Besides, recent policy measures, including GST rate rationalisation, are expected to keep inflation moderate while supporting consumption demand. It added that the overall prices are likely to remain soft in FY26. Also, it noted that kharif sowing has been successfully completed, with cereals and pulses recording healthy growth, reflecting favourable growing conditions. On financial sector, it said despite a moderation in the growth of bank credit, the overall flow of financial resources to the commercial sector continues to rise as non-bank sources of funding are gaining prominence and offsetting the decrease in the flow of bank credit.

Looking ahead, it said the lower GST rate is expected to support a positive demand outlook by reducing the tax burden on consumers and businesses, stimulating consumption and investment across sectors and boosting employment generation in the economy. Besides, a strong performance in the industries and services sector, along with a stable labour market, will further enhance domestic demand. However, global uncertainties warrant caution and will continue to affect external demand, presenting downside risks to the growth outlook. The ministry added that the implementation of various growth-enhancing structural reforms and government initiatives, including GST 2.0, is expected to mitigate some of the negative impacts of these external challenges.

The CNX Nifty is currently trading at 25880.20, down by 85.85 points or 0.33% after trading in a range of 25839.85 and 26041.70. There were 15 stocks advancing against 35 stocks declining on the index.

The top gainers on Nifty were Tata Steel up by 2.17%, SBI Life up by 1.65%, HDFC Life Insurance up by 1.20%, Eicher Motors up by 1.11% and JSW Steel up by 0.96%. On the flip side, Bajaj Finserv down by 1.72%, ICICI Bank down by 1.31%, Nestle down by 1.18%, Bajaj Finance down by 1.13% and Titan down by 1.12% were the top losers.

Asian markets were trading mostly in red; Nikkei 225 slipped 366.32 points or 0.73% to 50,146.00, Taiwan Weighted lost 44.52 points or 0.16% to 27,949.11, Jakarta Composite plunged 28.35 points or 0.35% to 8,088.80, Shanghai Composite weakened 6.57 points or 0.16% to 3,990.37, KOSPI dropped 41.26 points or 1.02% to 4,001.57 and Hang Seng declined 53.7 points or 0.2% to 26,380.00. However, Straits Times rose 19.72 points or 0.44% to 4,460.02.
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