Benchmarks erase early gains; Nifty dips under 25,850 mark

Domestic equity benchmarks reversed early gains and slipped into moderate losses in morning trade after the government refrained from confirming reports of a potential US-India trade deal, weighing on market sentiment.

The Nifty traded below the 25,850 mark. Metal shares extended gains for the third consecutive trading session.

At 10:30 IST, the barometer index, the S&P BSE Sensex, lost 205.35 points or 0.24% to 84,356.36. The Nifty 50 index lost 69.10 points or 0.26% to 25,823.10.

In the broader market, the S&P BSE Mid-Cap index rose 0.14% and the S&P BSE Small-Cap index shed 0.08%.

The market breadth was negative. On the BSE, 1,684 shares rose and 1,946 shares fell. A total of 220 shares were unchanged.

New Listing

Shares of Midwest were currently trading at Rs 1,155 at 10:20 IST on the BSE, representing a premium of 8.45% as compared with the issue price of Rs 1,065.

The stock was listed at Rs 1,165.10, exhibiting a premium of 9.4% to the issue price.

So far, the stock has hit a high of 1,189.50 and a low of 1,146.70. On the BSE, over 3.25 lakh shares of the company were traded in the counter so far.

Buzzing Index:

The Nifty Metal index jumped 2.02% to 10,448.50. The index rallied 2.51% in three consecutive trading sessions.

National Aluminium Company (up 4.43%), Hindalco Industries (up 4.13%), Hindustan Copper (up 3.75%), Vedanta (up 3.18%), Hindustan Zinc (up 2.61%), Steel Authority of India (up 1.58%), Lloyds Metals & Energy (up 1.36%), Jindal Stainless (up 1.21%), Tata Steel (up 0.94%) and NMDC (up 0.93%) advanced.

On the other hand, Welspun Corp (down 1.11%) and Adani Enterprises (down 0.19%), edged lower.

Stocks in Spotlight:

NTPC Green Energy rose 0.30%. The company announced that a part capacity of 9.9 MW of its 92.4 MW wind power project at Bhuj, Gujarat, has been declared commercially operational with effect from 25 October 2025.

PTC India Financial Services soared 13.17% after the NBFC's consolidated net profit jumped 86.18% to Rs 88.14 crore in Q2 FY26 from Rs 47.34 crore reported in Q2 FY25. However, total revenue from operations declined 19.32% year on year to Rs 131.84 crore in the quarter ended 30 September 2025.

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