Sensex spurts 504 pts; metal shares advance for 2nd day

The key equity indices traded with significant gains in the mid-morning trade. The Nifty traded above the 25,600 level. Metal shares extended gains for second consecutive trading session.

At 11:30 ST, the barometer index, the S&P BSE Sensex, surged 504.05 points or 0.61% to 83,720.33. The Nifty 50 index added 153.25 points or 0.60% to 25,643.65.

In the broader market, the S&P BSE Mid-Cap index rose 0.66% and the S&P BSE Small-Cap index fell 0.16%.

The market breadth was positive. On the BSE, 2,032 shares rose and 1,988 shares fell. A total of 233 shares were unchanged.

IPO Update:

Pine Labs received bids for 1,73,50,521 shares as against 9,78,93,739 shares on offer, according to stock exchange data at 11:18 IST on Monday (10 November 2025). The issue was subscribed 0.18 times. The issue opened for bidding on 7 November 2025 and it will close on 11 November 2025. The price band of the IPO is fixed between Rs 210 and 221 per share.

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.

Buzzing Index:

The Nifty Metal index added 0.71% to 10,500.70. The index rose 2.12% in the two consecutive trading session.

National Aluminium Company (up 8.15%), Hindustan Copper (up 2.66%), Hindustan Zinc (up 2.31%), NMDC (up 1.8%), Vedanta (up 1.56%), Hindalco Industries (up 0.9%), Adani Enterprises (up 0.7%), Steel Authority of India (up 0.67%), JSW Steel (up 0.5%) and Jindal Steel (up 0.34%) added.

On the other hand, Jindal Stainless (down 0.77%), Tata Steel (down 0.33%) declined.

Stocks in Spotlight:

Neuland Laboratories rose 1.44% after the company's consolidated net profit surged 194.91% to Rs 96.85 crore on a 65.45% rise in revenue from operations to Rs 514.27 crore in Q2 FY26 over Q2 FY25.

AstraZeneca Pharma slipped 1.16% after the companys standalone net profit shed 2.88% to Rs 54.22 crore in Q2 FY26 as against Rs 55.83 crore posted in Q1 FY26. Revenue from operations rose 6.22% QoQ to Rs 559.09 crore in the quarter ended 30 September 2025.

On a year on year (YoY) basis, the companys net profit surged 41.08% while revenue from operations increased 37.03% in Q2 FY26.

Force Motors rose 0.33%. The company reported a 159.68% year-on-year surge in consolidated net profit to Rs 350.7 crore in Q2 FY25, compared with Rs 135.05 crore in the corresponding quarter last year. Revenue from operations rose 7.21% to Rs 2,081.4 crore in Q2 FY26 as against Rs 1,941.33 crore in Q2 FY25.

HBL Engineering surged 12.12% 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.

Global Markets:

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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