At 1:30 ST, the barometer index, the S&P BSE Sensex, declined 243.55 points or 0.29% to 84,235.12. The Nifty 50 index slipped 71.90 points or 0.28% to 25,808.50.

In the broader market, the S&P BSE Mid-Cap index shed 0.17% and the S&P BSE Small-Cap index added 0.10%.

The market breadth was negative. On the BSE, 1,848 shares rose and 2,184 shares fell. A total of 179 shares were unchanged.

The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, fell 1.23% to 12.01.

Economy:

The annual inflation rate, based on the All-India Wholesale Price Index (WPI), declined by 1.21% (provisional) in October 2025 compared with October 2024. This negative inflation reading was primarily driven by a decrease in the prices of food articles, crude petroleum and natural gas, electricity, mineral oils, and basic metals.

Bihar Election:

The counting of votes for the Bihar Assembly Election 2025 began at 8 AM across 46 counting centers in all 38 districts, and trends are now available for all 243 seats.

The National Democratic Alliance (NDA) is leading with the Bharatiya Janata Party (BJP) on 85 seats, Janata Dal (United) [JD(U)] on 76 seats, Lok Janshakti Party (Ram Vilas) [LJPRV] on 20 seats, Rashtriya Lok Morcha [RSHTLKM] on 4 seats, and Hindustani Awam Morcha (Secular) [HAMS] on 4 seats.

The Mahagathbandhan (MGB) alliance has Rashtriya Janata Dal (RJD) leading on 35 seats, Indian National Congress (INC) on 6 seats, Communist Party of India (Marxist-Leninist) Liberation [CPI(ML)(L)] on 7 seats, Communist Party of India (Marxist) [CPI(M)] on 1 seat, and All India Majlis-E-Ittehadul Muslimeen (AIMIM) on 3 seats. The Communist Party of India (CPI) and Bahujan Samaj Party (BSP) are each leading on 1 seat.

This round of counting reflects one of the most competitive and high-turnout elections Bihar has witnessed, with a voter turnout recorded at 66.91%, where more than 7.45 crore voters decided the fate of 2,616 candidates across 243 seats.

Gainers & Losers:

Adani Enterprises (up 2.13%), Axis Bank (up 1.19%), Jio Financial Services (up 1.26%), Oil & Natural Gas Corporation (up 1.06%) and Sun Pharmaceutical Industries (up 0.99%) were the major Nifty50 gainers.

Infosys (down 3.11%), Eicher Motors (down 2.28%), Tata Steel (down 1.95%), Tech Mahindra (down 1.66%) and JSW Steel (down 1.54%) were the major Nifty50 losers.

Stocks in Spotlight:

KRBL soared 12.06% after the company's consolidated net profit climbed 67.6% to Rs 172.11 crore on an 18.9% rise in revenue from operations to Rs 1,511.08 crore in Q2 Sept 2025 over Q2 Sept 2024.

Muthoot Finance soared 9.40% after the company's consolidated net profit jumped 90.4% to Rs 2,420.63 crore on a 47.9% increase in total income to Rs 7,332.59 crore in Q2 FY26 over Q2 FY25.

MAN Industries (India) jumped 13.41% after the company reported a 16.1% rise in consolidated net profit to Rs 37 crore on a 3.5% increase in revenue from operations to Rs 834 crore in Q2 FY26 as compared with Q2 FY25.

Titagarh Rail Systems rose 0.25%. The company reported a 54.26% decline in consolidated net profit to Rs 36.90 crore in Q2 FY26 as against Rs 80.69 crore posted in Q2 FY25. Revenue from operations decreased 24.40% year-on-year (YoY) to Rs 799.03 crore in the quarter ended 30 September 2025.

Global Markets:

European stocks opened lower as concerns over an AI-driven tech selloff, weak economic data from China, and diminishing expectations of an imminent US Fed rate cut weighed on global investor sentiment.

Asian markets slipped, tracking losses on Wall Street, as technology stocks weakened and uncertainty over potential US Fed rate cuts weighed on sentiment.

The South Korean won strengthened against the dollar after the finance minister said Friday that the country's FX authorities will consult major market players, including the national pension fund and key exporters, on ways to stabilize the won, according to media reports.

According to the report, Finance Minister Koo Yun-cheol told senior economic officials that steps were needed to tackle the structural mismatch in U.S. dollar supply and demand, amid growing concerns over currency market volatility.

In China, fixed-asset investment, which includes real estate, contracted 1.7% for the first ten months of the year, steepening from a 0.5% decline in the January-to-September period.

Industrial output expanded 4.9% year-on-year in October, slowing down from a 6.5% rise in the prior month.

Retail sales climbed 2.9% in October from a year earlier, softening from a 3% year-on-year rise in September.

Overnight in the U.S., all three major averages closed lower as investors continued to sell shares of technology companies, especially those in the artificial intelligence trade, amid worries about their valuations. The Nasdaq Composite pulled back 2.29% to close at 22,870.36.

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