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Sensex, Nifty widen losses amid feeble global cues
Nov-04-2025

A selling pressure continued to hit the Dalal Street in early afternoon session, with both Sensex and Nifty extending their losses, amid feeble global cues and lack of major market moving triggers. Heavy selling at Utilities, Metal and IT counters dragged the markets down, while Power Grid was among the major losers on the Sensex. Traders took a note of reports that a senior team of negotiators from the European Union (EU) is in New Delhi from November 3 to 7, 2025 for negotiations with Indian counterparts on the proposed India-EU Free Trade Agreement (FTA). The engagements aim to resolve key outstanding issues and advance the agreement toward a balanced and equitable framework that benefits both sides.

On the global front, Asian markets were trading mostly in red, as the manufacturing sector in Japan continued to contract in October, and at a faster pace, with a manufacturing PMI score of 48.2. That missed expectations for 48.3 and was down from 48.5 in September. It also moves further beneath the boom-or-bust line of 50 that separates expansion from contraction.

The BSE Sensex is currently trading at 83729.36, down by 249.13 points or 0.30% after trading in a range of 83653.66 and 84068.01. There were 8 stocks advancing against 22 stocks declining on the index.

The broader indices were trading in red; the BSE Mid cap index was down by 0.21%, while Small cap index down by 0.40%.

The only gaining sectoral indices on the BSE were Telecom up by 1.09%, Consumer Durables up by 0.44% and Capital Goods up by 0.14%, while Utilities down by 1.33%, Metal down by 1.12%, IT down by 1.01%, PSU down by 0.90% and Basic Materials down by 0.78% were the top losing indices on BSE.

The top gainers on the Sensex were Titan up by 2.36%, Bharti Airtel up by 2.04%, Bajaj Finance up by 0.58%, Mahindra & Mahindra up by 0.39% and Adani Ports & SEZ up by 0.38%. On the flip side, Power Grid down by 2.76%, Tata MotorsPassenger down by 1.85%, Eternal down by 1.67%, Tata Steel down by 1.40% and Bharat Electronics down by 1.23% were the top losers.

Meanwhile, the Gem and Jewellery Export Promotion Council (GJEPC) has said that India needs to establish an efficient and trade-friendly business environment to remain globally competitive with leading trade hubs and accelerate exports. GJEPC Chairman Kirit Bhansali has said that ‘India's gem and jewellery sector has achieved remarkable growth and ease of doing business. We are confident of surpassing $100 billion in exports and building a $500 billion domestic market by 2047, making India the global hub for gems and jewellery’. To achieve this, he said policy reforms are needed to boost India's competitiveness in global trade.

He further said to enhance ease of doing business in the sector, the government needs to make amendment of Customs Act, 1962 and modernisation of the Customs Act, 1962, which include implementation of a Risk Management System, and AI-based digital appraisals. He noted that these measures will make customs procedures faster, more transparent, and cost-efficient - significantly enhancing India's ease of doing business and global competitiveness. Facilitating affordable credit for export business in the sector is another measure, which is enjoyed by exporters in competing economies, will help the sector, especially the MSME units.

He proposed the formulation of a National Gem and Jewellery Park Policy, similar to those existing for the textile and leather sectors, to strengthen domestic manufacturing ecosystems and attract global investment into India's gem and jewellery value chain. He further urged for a White Paper on Gems and Jewellery Sector based on the inputs recently submitted by GJEPC to NITI Aayog. Additionally, GJEPC has asked the Ministry of Finance to simplify export-import procedures and customs processes for the gem and jewellery sector. He added that such measures are vital to ensure ease of doing business on par with leading global trading destinations.

The CNX Nifty is currently trading at 25680.50, down by 82.85 points or 0.32% after trading in a range of 25648.90 and 25787.40. There were 14 stocks advancing against 36 stocks declining on the index.

The top gainers on Nifty were Titan up by 2.44%, Bharti Airtel up by 2.03%, HDFC Life Insurance up by 1.41%, Max Healthcare up by 0.70% and Bajaj Finance up by 0.66%. On the flip side, Power Grid down by 2.76%, Coal India down by 2.41%, Tata Consumer Products down by 2.32%, Bajaj Auto down by 2.03% and Tata MotorsPassenger down by 1.85% were the top losers.

Asian markets were trading mostly in red; KOSPI dropped 100.13 points or 2.43% to 4,121.74, Nikkei 225 slipped 556.34 points or 1.07% to 51,855.00, Taiwan Weighted lost 218.03 points or 0.78% to 28,116.56, Hang Seng declined 154.36 points or 0.59% to 26,004.00, Straits Times fell 23.31 points or 0.52% to 4,421.02 and Shanghai Composite weakened 19.08 points or 0.48% to 3,957.44, while Jakarta Composite gained 27.11 points or 0.33% to 8,302.19.
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