Benchmarks trade higher; European mrkt advance

The domestic equity indices traded with significant gains in afternoon trade, mirroring positive global cues. However, investors will track corporate earnings, crude oil prices, other global developments and slew of key economic data scheduled for release later this week. The Nifty traded above the 25,600 level.

IT, Pharma and metals shares led the rally while media and PSU Bank shares capped some of the gains.

At 13:25 IST, the barometer index, the S&P BSE Sensex rose 472.80 points or 0.57% to 83.703.37. The Nifty 50 index added 148.25 points or 0.58% to 25,639.40.

In the broader market, the S&P BSE Mid-Cap index rose 0.62%, while the S&P BSE Small-Cap index shed 0.24%.

The market breadth was negative. On the BSE, 2,013 shares rose and 2,192 shares fell. A total of 204 shares were unchanged.

Economy:

Indias foreign exchange reserves fell by $5.6 billion to $689.73 billion in the week ended October 31, 2025, the Reserve Bank of India (RBI) said on Friday.

For the week ended October 31, foreign currency assets, a major component of the reserves, decreased by $1.9 billion to $564.59 billion, the RBI data showed.

Value of gold reserves declined by $3.8 billion to $101.72 billion during the week, the RBI said.

The Special Drawing Rights (SDRs) were down by $19 million to $18.64 billion, the apex bank said.

Meanwhile, India's reserve position with the IMF was up by $16.4 million at $4.77 billion in the reporting week, the data showed.

Gainers & Losers:

Infosys (up 2.86%), Grasim Industries (up 1.98%), HCL Technologies (up 1.72%), Asian Paints (up 1.67%) and Coal India (up 1.61%) were the major Nifty50 gainers.

Trent (down 7.38%), Tata Consumer Products (down 1.92%), Max Healthcare Institute (down 1.39%), Apollo Hospitals Enterprise (down 1.01%) and Eternal (down 0.93%) were the major Nifty50 losers.

Trent slumped 7.38% after the company reported a steady performance for the September quarter. Its consolidated revenue from operations rose 16% year-on-year to Rs 4818 crore and EBITDA increased 14% to Rs 575 crore, while profit after tax grew 11% to Rs 373 crore. The company clarified that its consolidated revenue excludes sales from the Trent Hypermarket business due to accounting standards, though its share of profit from the venture is included under the equity method.

Stocks in Spotlight:

FSN E-Commerce Ventures (Nykaa) rallied 6.83% after the company reported a 242.9% surge in consolidated net profit to Rs 34.43 crore on 25.1% increase in revenue from operations to Rs 2,345.98 crore in Q2 Sept 2025 over Q2 Sept 2024.

Shipping Corporation of India tanked 5.55% after it has reported 35.09% decrease in consolidated net profit to Rs 189.16 crore in Q2 FY26 as against Rs 291.44 crore posted in Q2 FY25. Revenue from operations declined 7.71% year on year to Rs 1,338.87 crore in the quarter ended 30 September 2025.

HPL Electric & Power surged 7.27% after the company said that the HPL Group and its promoters have signed a settlement agreement with Havells India. This settlement agreement resolves all pending disputes and litigations related to the use of word/ mark 'HAVELLS', including suits filed in various courts including the Delhi High Court and various special leave petitions (SLPs) filed in the Supreme Court.

As part of the settlement, the HPL Group has acknowledged that Havells India & its promoters absolute rights to the 'HAVELLS' mark since 1971.

Transformers and Rectifiers (India) hit a lower limit of 20% after the company reported a soft set of numbers for Q2 FY26. On a consolidated basis, revenue from operations stood at Rs 460 crore, nearly unchanged from Rs 462 crore in Q2 FY25. Profit after tax (PAT) fell 19% YoY to Rs 37.5 crore, with PAT margin narrowing to 7.9%, down from 9.7% last year.

HBL Engineering surged 9.96% after the company reported a more than fourfold jump in consolidated net profit to Rs 387.27 crore in Q2 FY26, compared with Rs 87.26 crore in the same quarter last year. Revenue from operations surged 134.7% YoY to Rs 1,222.90 crore in Q2 September 2025.

National Aluminium Company (NALCO) surged 8.79% after the company reported a strong performance for the September quarter (Q2 FY26), driven by improved operational efficiency, higher alumina output, and cost optimization initiatives. On a standalone basis, the companys net profit surged 34.93% year-on-year to Rs 1,433.17 crore on a 7.27% rise in revenue from operations to Rs 4,292.34 crore in Q2 FY26 over Q2 FY25.

Global Markets:

Europe and Asia-Pacific markets advanced on Monday amid renewed optimism that the prolonged U.S. government shutdown could soon end.

On Sunday, the U.S. Senate moved closer to voting on a bill to reopen the federal government, following encouraging bipartisan discussions led by Senate Majority Leader John Thune.

The record-long shutdown has weighed heavily on the U.S. economy, leaving federal employees across critical sectorsfrom aviation to defenseunpaid, while the Federal Reserve operates with limited economic data.

White House economic adviser Kevin Hassett reportedly warned that if the impasse persists, fourth-quarter GDP could turn negative. Supporting this concern, U.S. consumer sentiment fell to a near three-and-a-half-year low in early November.

In Asia, investors digested stronger-than-expected inflation data from China, where Octobers headline CPI rose 0.2% year-on-year, while producer prices declined 2.1%.

Meanwhile, minutes from the Bank of Japans October meeting signaled that conditions for a rate hike "have almost been met," though policymakers remained cautious about underlying inflation trends.

On Friday stateside in the U.S., the Nasdaq Composite continued to fall, but the Dow Jones Industrial Average and S&P 500 inched into positive territory after Senate Minority Leader Chuck Schumer offered up a new plan to Republicans that would enable the record-breaking U.S. government shutdown to end.

The tech-heavy index shed 0.21% to finish at 23,004.54. In contrast, the S&P 500 and the Dow Jones Industrial Average inched into the green. The broad-based index gained 0.13% to close at 6,728.80, while the 30-stock index added 74.80 points, or 0.16%, to settle at 46,987.10.

A survey from the University of Michigan revealed Friday that consumer sentiment in the country has neared its lowest level ever. The data comes just a day after firm Challenger, Gray & Christmas reported that layoff announcements in October reached their highest level for the month in 22 years.

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