Indices nudge lower in early trade; Nifty trades below 25,500 level

The domestic equity indices trade with minor losses in early trade. The Nifty traded below the 25,500 level. IT, auto and realty shares advanced while financial services, PSU bank and media shares declined.

At 09:30 IST, the barometer index, the S&P BSE Sensex, tanked 204.25 points or 0.24% to 83,331.10. The Nifty 50 index shed 49.30 points or 0.19% to 25,524.40.

In the broader market, the S&P BSE Mid-Cap index shed 0.12% and the S&P BSE Small-Cap index fell 0.16%.

The market breadth was negative. On the BSE, 1,347 shares rose and 1,802 shares fell. A total of 188 shares were unchanged.

Foreign portfolio investors (FPIs) sold shares worth Rs 4,114.85 crore, while domestic institutional investors (DIIs) were net buyers to the tune of Rs 5,805.26 crore in the Indian equity market on 10 November 2025, provisional data showed.

Stocks in Spotlight:

Bajaj Consumer Care shed 0.69%. The company reported 32.8% increase in consolidated net profit to Rs 42.29 crore in Q2 FY26 as against Rs 31.85 crore posted in Q2 FY25. Revenue from operations rose 13.3% year on year to Rs 261.41 crore in the quarter ended 30 September 2025.

Subros tanked 5.63%. The company reported 11.9% increase in consolidated net profit to Rs 40.7 crore in Q2 FY26 as against Rs 36.4 crore posted in Q2 FY25. Revenue from operations rose 6.2% year-on-year to Rs 880 crore in the quarter ended 30 September 2025.

US-India Trade Deal:

Hints of a potential trade breakthrough with the US emerged from the White House on Monday as President Donald Trump reportedly said that Washington and New Delhi are moving closer to finalising a new trade agreement, adding that the US would eventually bring down tariffs on India. Trump's remarks came during the swearing-in ceremony of Sergio Gor, the new US Ambassador to India, at the Oval Office.

"Were making a deal with India. Much different than we had. Right now they dont love me but they will love us again. Were getting a fair deal. Theyre very good negotiators, so Sergio, you will have to take a look at that. I think were pretty close to doing a deal that is good for everybody," the President reportedly said during the ceremony.

Speaking to reporters later, Trump reportedly responded to questions on whether the US would consider lowering tariffs on Indian imports. Well, right now, the tariffs are very high on India because of the Russian oil, and theyve stopped doing the Russian oil. Its been reduced very substantially. Yeah, were going to be bringing the tariffs down. At some point, were going to be bringing them down, he reportedly stated.

Numbers to Track:

The yield on India's 10-year benchmark federal paper was up 0.22% to 6.504 as compared with previous close 6.490.

In the foreign exchange market, the rupee edged higher against the dollar. The partially convertible rupee was hovering at 88.7025 compared with its close of 88.7300 during the previous trading session.

MCX Gold futures for 5 December 2025 settlement rose 0.94% to Rs 122,140.

The US Dollar Index (DXY), which tracks the greenback's value against a basket of currencies, was up 0.03% to 99.66.

The United States 10-year bond yield gained 0.22% to 4.120.

In the commodities market, Brent crude for January 2025 settlement shed 1 cents or 0.02% to $64.05 a barrel.

Global Markets:

Asia-Pacific markets rose Tuesday after Wall Street gains on revived artificial intelligence optimism and growing hopes that the U.S. government shutdown will end soon.

The Senate passed legislation on Monday night to end the nations longest government shutdown, after a critical splinter group of Democrats joined with Republicans and backed a spending package that omitted the chief concession their party had spent weeks demanding.

The 60-to-40 vote, on Day 41 of the shutdown, signaled a break in the gridlock that has shuttered the government for weeks, leaving hundreds of thousands of federal workers furloughed, millions of Americans at risk of losing food assistance and millions more facing air-travel disruptions.

Shares of Japanese financial conglomerate Orix edged higher on Tuesday after the company announced a partnership with Qatars sovereign wealth fund, Qatar Investment Authority, to launch a $2.5 billion private equity fund.

The fund will invest in Japanese companies, primarily targeting business succession, privatization of listed companies, and carve-outs, valued at least 30 billion yen (about $200 million), Orix said in a press release. Orix and QIA will contribute 60% and 40%, respectively.

On Wall Street, the US benchmarks rose Monday after the White House expressed support for the bipartisan deal to end the shutdown a key development that makes it likely the government reopens within days. Separately, President Donald Trump also floated the idea of paying $2,000 tariff dividend to US citizens.

The Dow Jones Industrial Average climbed 381.53 points, or 0.81%, to end at 47,368.63. The S&P 500 gained 1.54% to settle at 6,832.43, while the Nasdaq Composite advanced 2.27% to finish at 23,527.17.

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