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Markets extend losses in late trade
Nov-04-2025

Indian equity markets extended losses in late trade amid weak global cues. Besides, traders remained cautious amid fund outflows from foreign institutional investors (FIIs). The FIIs were the net sellers on Monday’s trade offloading equities worth Rs 1,883.78. Further, lack of cues about India-US bilateral trade deal and uncertainties over Federal reserve’s future rate cut have weighed on investors’ sentiments. Meanwhile, markets participants overlooked commerce ministry’s statement that officials of India and New Zealand started the fourth round (November 3 to 7, 2025) of negotiations in Auckland for the proposed free trade agreement (FTA).  

On the global front, all Asian equity markets were trading lower as a tech rally fizzled out due to valuation concerns. All European equity markets were trading lower as mixed earnings and weak U.S. manufacturing data soured investors' appetite for riskier assets.

The BSE Sensex is currently trading at 83553.83, down by 424.66 points or 0.51% after trading in a range of 83473.75 and 84068.01. There were 5 stocks advancing against 25 stocks declining on the index.

The broader indices were trading in red; the BSE Mid cap index declined 0.34%, while Small cap index was down by 0.66%.

The only gaining sectoral indices on the BSE were Telecom up by 0.85% and Consumer Durables up by 0.09%, while Utilities down by 1.45%, Metal down by 1.35%, IT down by 1.12%, Basic Materials down by 1.06% and Power down by 0.96% were the top losing indices on BSE.

The top gainers on the Sensex were Titan Company up by 2.25%, Bharti Airtel up by 1.66%, Mahindra & Mahindra up by 1.53%, Bajaj Finance up by 1.28% and SBI up by 0.71%. On the flip side, Power Grid Corporation down by 3.23%, Eternal down by 2.57%, Tata Motors Passenger Vehicles down by 2.45%, Tata Steel down by 1.94% and Maruti Suzuki down by 1.62% were the top losers.

Meanwhile, the Ministry of Steel, Government of India, is all set to launch the Third Round (PLI 1.2) of the Production Linked Incentive (PLI) Scheme for Specialty Steel, one of the key initiatives under the Government’s Atmanirbhar Bharat vision. 

The PLI Scheme for Specialty Steel, approved by the Union Cabinet in July 2021 with an overall outlay of Rs 6,322 crore, seeks to transform India into a global hub for production of high-value and advanced steel grades. The scheme incentivizes incremental production and investment in identified product categories, thereby enhancing value addition within the country and reducing import dependence in critical sectors such as defence, power, aerospace and infrastructure.

So far, the PLI Scheme has attracted a committed investment of Rs 43,874 crore, with Rs 22,973 crore already invested and over 13,000 jobs created under the first two rounds. The scheme covers 22 product sub-categories including super alloys, CRGO, alloy forgings, stainless steel (long and flat), titanium alloys, and coated steels. Incentive rates range from 4% to 15%, applicable for five years starting FY 2025-26, with disbursal beginning in FY 2026-27. The base year for pricing has also been updated to FY 2024-25 to better reflect current trends.

The CNX Nifty is currently trading at 25619.35, down by 144.00 points or 0.56% after trading in a range of 25592.65 and 25787.40. There were 9 stocks advancing against 41 stocks declining on the index.

The top gainers on Nifty were Titan Company up by 2.35%, Bharti Airtel up by 1.64%, Mahindra & Mahindra up by 1.52%, Bajaj Finance up by 1.25% and HDFC Life Insurance up by 0.88%. On the flip side, Power Grid Corporation down by 3.21%, Coal India down by 3.01%, Eternal down by 2.68%, Tata Motors Passenger Vehicles down by 2.46% and Bajaj Auto down by 2.05% were the top losers.

All Asian equity markets were trading lower; Nikkei 225 slipped 556.34 points or 1.07% to 51,855.00, Hang Seng declined 190.36 points or 0.73% to 25,968.00, Taiwan Weighted lost 218.03 points or 0.78% to 28,116.56, Straits Times fell 26.6 points or 0.6% to 4,417.73, Shanghai Composite weakened 16.33 points or 0.41% to 3,960.19, Jakarta Composite plunged 21.21 points or 0.26% to 8,253.87 and KOSPI dropped 100.13 points or 2.43% to 4,121.74.

All European equity markets were trading lower; UK’s FTSE 100 decreased 96.62 points or 1% to 9,604.75, France’s CAC fell 113.49 points or 1.4% to 7,996.30 and Germany’s DAX lost 397.71 points or 1.65% to 23,734.70.
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