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Sensex, Nifty extend opening losses in early deals
Oct-30-2025

Indian equity benchmarks made a negative start on Thursday following broadly negative cues from Wall Street overnight after the Federal Reserve rate cut. There was some cautiousness as Fed Chair Jerome Powell's post-meeting comments triggered doubts about the likelihood of a rate cut in December. Sensex and Nifty added losses and were trading with cut of over half a percent each in early deals amid foreign fund outflows. Foreign Institutional Investors (FIIs) were net sellers, offloading equities worth Rs 2,540.2 crore on October 29. Traders remained on sidelines as commerce and industry minister Piyush Goyal said a team of negotiators from the European Union (EU) will visit New Delhi next week for the 15th round of negotiations for a trade deal. Traders overlooked Chief Economic Advisor V Anantha Nageswaran’s statement that the Indian economy has responded quite satisfactorily to global headwinds, and exuded confidence that real GDP growth is likely to touch 7 per cent in FY26. On the global front, Asian markets were trading mostly higher amid optimism about a potential trade deal between the U.S. and China as US President Donald Trump and Chinese President Xi Jinping meet. 

The BSE Sensex is currently trading at 84558.07, down by 439.06 points or 0.52% after trading in a range of 84548.22 and 84906.95. There were 2 stocks advancing against 28 stocks declining on the index.

The broader indices were trading in red; the BSE Mid cap index fell 0.19%, while Small cap index was down by 0.11%.

The sole gaining sectoral indices on the BSE was Industrials up by 0.39%, while Telecom down by 2.53%, TECK down by 0.99%, Healthcare down by 0.98%, Metal down by 0.80%, FMCG down by 0.68% were the top losing indices on BSE.

The only gainers on the Sensex were Larsen & Toubro up by 2.32% and Maruti Suzuki up by 0.16%. On the flip side, Sun Pharma down by 1.86%, Bharti Airtel down by 1.59%, Tata Steel down by 1.05%, Power Grid down by 1.05% and ITC down by 1.00% were the top losers.

Meanwhile, exuding confidence that real Gross Domestic Product (GDP) growth of India is likely to touch 7 per cent in FY26, Chief Economic Advisor (CEA) V Anantha Nageswaran has said the Indian economy responded quite satisfactorily to global headwinds. He said three global rating agencies have recently upgraded their ratings on India, and if the country continues on the same track, India can ‘soon’ break into the 'A' rating category. He noted that the resilience shown by the economy, coupled with measures by the government and the Reserve Bank of India (RBI), places the Indian economy in a ‘comfortable position’.

He added the policy measures, including relief in income tax and the recent GST rationalization ‘have combined to improve the economic growth prospects for this year to near or around 7 per cent in real terms for FY26’. In February, he had estimated that real GDP growth may fall to as low as 6.3 per cent for FY26, and the US' tariff moves led them to further revise their expectation down to 6 per cent.

Regarding the critique of sluggish bank credit growth, he said one must look at the total resource mobilization in the economy, including the money raised through nonbank lenders, commercial paper, certificate of deposits, equity markets etc, to arrive at a conclusion. Citing RBI data, he said the total resource mobilization in the economy has increased by 28.5 per cent per annum over the last six years.

The CNX Nifty is currently trading at 25921.55, down by 132.35 points or 0.51% after trading in a range of 25915.30 and 26032.05. There were 6 stocks advancing against 44 stocks declining on the index.

The top gainers on Nifty were Larsen & Toubro up by 2.24%, Shriram Finance up by 0.83%, JIO Financial Services up by 0.29%, Interglobe Aviation up by 0.25% and Coal India up by 0.24%. On the flip side, Dr. Reddy's Lab down by 4.66%, Sun Pharma down by 1.91%, HDFC Life Insurance down by 1.60%, Bharti Airtel down by 1.52% and Max Healthcare Inst down by 1.30% were the top losers.

Asian markets are trading mostly in green; Nikkei 225 surged 195.35 points or 0.38% to 51,503.00, Hang Seng advanced 171.86 points or 0.65% to 26,518.00, Taiwan Weighted strengthened 47.72 points or 0.17% to 28,342.46, KOSPI increased 32.11 points or 0.79% to 4,113.26, Jakarta Composite gained 18.04 points or 0.22% to 8,184.26 and Shanghai Composite added 2.53 points or 0.06% to 4,018.86, while Straits Times fell 11.58 points or 0.26% to 4,428.63.
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