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Markets wipe out opening losses to trade higher in early deals
Oct-31-2025

Indian equity benchmarks made slightly negative start on Friday following the broadly negative cues from Wall Street overnight and mixed cues from Asian counterparts amid renewed uncertainty about the outlook for interest rates after Fed Chair Jerome Powell said a further reduction in rates in December is 'not a foregone conclusion. However, soon markets witnessed recovery and entered into green terrain amid strong corporate earnings and easing global trade tensions. Sensex and Nifty were trading marginally higher in early deals amid healthy buying in Auto, Realty and FMCG stocks. Some support came as Engineering Exports Promotion Council (EEPC) India said that India's engineering goods exports maintained a growth trajectory for the fourth consecutive month in September, with a 2.93 per cent rise year-on-year to $10.11 billion. Traders took note of report that some Indian companies have got approval from China to import rare earth magnets, to be used in automotive and electronics industries.

The BSE Sensex is currently trading at 84587.29, up by 182.83 points or 0.22% after trading in a range of 84258.91 and 84712.79. There were 20 stocks advancing against 10 stocks declining on the index.

The broader indices were trading in green; the BSE Mid cap index rose 0.25%, while Small cap index was up by 0.35%.

The top gaining sectoral indices on the BSE were Auto up by 0.91%, Realty up by 0.78%, FMCG up by 0.61%, Industrials up by 0.51% and Consumer Discretionary up by 0.49%, while Utilities down by 0.73%, Power down by 0.55%, Metal down by 0.26%, Healthcare down by 0.26% and Telecom down by 0.14% were the top losing indices on BSE.

The top gainers on the Sensex were ITC up by 1.48%, Maruti Suzuki up by 1.45%, Bajaj Finance up by 1.15%, Tata Motors Passenger Vehicles up by 0.99% and TCS up by 0.93%. On the flip side, NTPC down by 1.70%, Kotak Mahindra Bank down by 0.70%, Eternal down by 0.50%, Bharti Airtel down by 0.32% and Tata Steel down by 0.22% were the top losers.

Meanwhile, the Engineering Exports Promotion Council (EEPC) has said that India’s engineering goods exports maintained a growth trajectory for the fourth consecutive month in September, with a 2.93 per cent rise year-on-year to $10.11 billion. It said despite a sharp 9.4 per cent decline in shipments to the US, the largest market for Indian exporters of engineering goods, the growth was achieved. According to the EEPC, while overall exports crossed the $10 billion mark for the second time this fiscal, the growth rate moderated from the nearly 5 per cent witnessed in August 2025.

It said the US, which remains the top destination for Indian engineering goods, saw imports drop to $1.4 billion in September from $1.55 billion in the same month last year, reflecting the ‘impact of punitive tariffs imposed by the Donald Trump administration’. Shipments to the second-largest market, the UAE, also declined to $636.86 million from $672.39 million a year ago. However, a 14.4 per cent year-on-year jump in exports to China, which reached $302.21 million, and decent growth in shipments to ASEAN, North-East Asia, Sub-Saharan Africa, Latin America, and South Asia helped the sector stay in positive territory.

EEPC India chairman Pankaj Chadha said it is a ‘good sign’ that overall engineering exports grew despite the tariff-related challenges in the US market. He said ‘In the coming years, South-South trade will be a major driver of global trade, and India is in the right direction as it negotiates key FTAs (free trade agreements) with Latin American countries such as Chile, Peru, and MERCOSUR (South American trade bloc) and GCC (Gulf Cooperation Council) countries’. However, he flagged several challenges for the sector, including high raw material prices, lack of access to export funding, and export controls by other countries on critical raw materials, such as ‘the rare-earth export controls by China’.

The CNX Nifty is currently trading at 25926.65, up by 48.80 points or 0.19% after trading in a range of 25822.10 and 25953.75. There were 32 stocks advancing against 18 stocks declining on the index.

The top gainers on Nifty were Eicher Motors up by 2.12%, Maruti Suzuki up by 1.33%, ITC up by 1.31%, Bajaj Finance up by 1.13% and Tata Motors Passenger Vehicles up by 1.03%. On the flip side, Cipla down by 2.08%, NTPC down by 1.68%, Max Healthcare Inst down by 1.60%, Interglobe Aviation down by 0.86% and Kotak Mahindra Bank down by 0.74% were the top losers.

Asian markets are trading mixed; Hang Seng declined 212.69 points or 0.82% to 26,070.00, Shanghai Composite weakened 25.28 points or 0.63% to 3,961.62, Straits Times fell 14.16 points or 0.32% to 4,423.28 and Jakarta Composite plunged 5.26 points or 0.06% to 8,178.80. On the other hand, Nikkei 225 surged 911.39 points or 1.78% to 52,237.00, Taiwan Weighted rose 44.9 points or 0.16% to 28,332.43 and KOSPI was up by 24.70 points or 0.6% to 4,111.59.
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