Barometers nudge lower; breadth negative

The domestic equity benchmarks traded with moderate losses in early trade. The Nifty traded below the 26,000 level. Barring the Nifty PSU Bank index, all other sectoral indices on the NSE traded in the red, with the Realty, Metal and IT indices declining the most.

At 09:30 IST, the barometer index, the S&P BSE Sensex, declined 161.81 points or 0.19% to 84,789.14. The Nifty 50 index lost 53.60 points or 0.19% to 25,957.95.

In the broader market, the S&P BSE Mid-Cap index shed 0.34% and the S&P BSE Small-Cap index slipped 0.45%.

The market breadth was negative. On the BSE, 1,323 shares rose and 1,776 shares fell. A total of 195 shares were unchanged.

Foreign portfolio investors (FPIs) bought shares worth Rs 442.17 crore, while domestic institutional investors (DIIs) were net buyers to the tune of Rs 1,465.86 crore in the Indian equity market on 17 November 2025, provisional data showed.

Stocks in Spotlight:

WPIL jumped 6.42% after the company informed that its South African subsidiary has secured a contract from METSI KE MATLA JV for complete electromechanical and instrumentation works under the MCWAP2 project of the Trans Caledon Tunnel Authority, South Africa. The order is valued at Rs 426 crore, with commissioning scheduled in 48 months.

Emcure Pharma dropped 4.10%. The company said that Bain Capital, through BC Investments IV, will sell shares worth Rs 492.7 crore via block deals. The offer comprises about 38 lakh shares, representing 2% equity, at Rs 1,296.51 per share, a discount of around 7% to Mondays closing price.

AstraZeneca Pharma India added 1.47% after the company announced a second brand partnership with Sun Pharmaceutical Industries for Sodium Zirconium Cyclosilicate (SZC) in India. Under the agreement, both companies will promote, market, and distribute SZC under separate brand namesAstraZeneca will market it as Lokelma, while Sun Pharma will sell it as Gimliand. SZC is indicated for the treatment of hyperkalemia in adults.

Numbers to Track:

The yield on India's 10-year benchmark federal paper was up 0.20% to 6.549 as compared with previous close 6.527.

In the foreign exchange market, the rupee edged lower against the dollar. The partially convertible rupee was hovering at 88.6650 compared with its close of 88.5900 during the previous trading session.

MCX Gold futures for 5 December 2025 settlement fell 1.24% to Rs 1,21,370.

The US Dollar Index (DXY), which tracks the greenback's value against a basket of currencies, was down 0.05% to 99.44.

The United States 10-year bond yield shed 0.22% to 4.122.

In the commodities market, Brent crude for January 2025 settlement lost 30 cents or 0.47% to $63.90 a barrel.

Global Markets:

Asia-Pacific markets fell Tuesday, following a tech-led slide on Wall Street.

Overnight in the U.S., stocks pulled back, plagued once again by declines in tech, as Wall Street awaited key releases this week, including Nvidia earnings and the September jobs report.

The Dow Jones Industrial Average lost 557.24 points, or 1.18%, to close at 46,590.24, as losses in the artificial intelligence chip darling, along with Salesforce and Apple, pushed the blue-chip index lower. The S&P 500 sank 0.92% to end the day at 6,672.41, while the Nasdaq Composite tumbled 0.84% to settle at 22,708.07.

The AI sector faced market pressure, with Nvidia dropping nearly 2% ahead of its third-quarter results scheduled for Wednesday after the market close. This decline, shared by other AI-related stocks, reflected growing investor anxiety regarding stretched valuations within the chipmaker and related technology companies.

The concern also impacted financial institutions linked to the sector. Blue Owl Capital, a private credit lender, shed nearly 6% amid worries surrounding its substantial lending exposure to the ongoing AI data center buildout.

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