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Weak trade persists over Dalal Street in early noon deals
Oct-28-2026

A weak trade persisted over the Dalal Street in early afternoon deals, with the Sensex and Nifty both witnessing notable declines amid weakness in information technology stocks and elevated crude oil prices. The Sensex has fallen more sharply than the Nifty, reflecting selling pressure in heavyweight stocks, while the Nifty has slipped below the 22,650 mark. IT stocks were leading the losses, with Infosys, TCS and other technology shares facing considerable pressure. Traders got cautious, after rating agency Icra in its latest report has said that fresh non-performing assets (NPA) in the banking sector are expected to increase during the current fiscal (FY27), with private sector banks expected to face relatively higher pressure due to their exposure to unsecured retail and micro, small and medium enterprise (MSME) loans.

On the global front, Asian markets were trading mostly in green, as China's industrial profits increased notably in September, underpinned by robust growth in electronic and high-tech manufacturing. Industrial profits logged a year-on-year growth of 14.4 percent in September, following prior month's 4.2 percent expansion.

The BSE Sensex is currently trading at 73126.80, down by 471.87 points or 0.64% after trading in a range of 72603.57 and 73316.46. There were 9 stocks advancing against 21 stocks declining on the index.

The top gaining sectoral indices on the BSE were Healthcare up by 0.92%, Industrials up by 0.89%, Auto up by 0.74%, Consumer Durables up by 0.73% and Consumer Disc up by 0.32%, while IT down by 2.35%, TECK down by 2.15%, Energy down by 1.96%, Oil & Gas down by 1.83% and Telecom down by 1.44% were the top losing indices on BSE.

The top gainers on the Sensex were Larsen & Toubro up by 3.77%, State Bank of India up by 1.11%, Trent up by 1.06%, Interglobe Aviation up by 0.65% and Axis Bank up by 0.35%. On the flip side, Infosys down by 4.27%, TCS down by 3.00%, Tech Mahindra down by 2.65%, Reliance Industries down by 2.35% and HCL Technologies down by 1.91% were the top losers.

Meanwhile, with an aim of deepening India-Mexico economic and trade relations, both countries have signed Terms of Reference (ToR) for negotiations on a Preferential Trade Agreement (PTA). The ToR establishes the framework, scope, modalities and roadmap for negotiations aimed at creating new economic opportunities for both countries. The signing formally launches negotiations for a mutually beneficial and balanced PTA, with the potential to expand bilateral trade, create business opportunities, enhance investment flows and contribute to resilient and diversified supply chains. Further, Commerce Secretary, Shri Rajesh Agrawal held discussions with Mexican delegations on bilateral relations and opportunities to expand trade and investment flows, during his Mexico visit.

The ToR cover key negotiating areas, including market access for goods, rules of origin, customs procedures and trade facilitation, dispute settlement, sanitary and phytosanitary measures, technical barriers to trade and trade remedies. The proposed agreement seeks to leverage the complementarities between the two economies and expand opportunities for Mexican products and businesses in the Indian market. With its strong linkages to global value chains, Mexico is an important market for Indian exporters and investors. Sectors with significant potential for cooperation include automotive, chemicals, electronics, pharmaceuticals, agri-food, energy, critical minerals, medical devices and advanced manufacturing, among others.

Besides, both delegations discussed various aspects of the bilateral economic agenda, identifying opportunities to deepen trade and investment relations, strengthen cooperation and foster closer ties between the productive sectors of both countries. They also discussed the possibility of organising a Mexican business mission to India during the first quarter of 2027. The proposed mission would facilitate business-to-business meetings, help identify commercial opportunities and strengthen commercial ties between the productive sectors of the two countries. India is Mexico’s ninth largest trading partner with a bilateral trade of $11.09 billion in 2025, with Indian exports of $9.13 billion to Mexico and imports of $1.97 billion from Mexico.

The CNX Nifty is currently trading at 22649.75, down by 100.00 points or 0.44% after trading in a range of 22497.70 and 22691.50. There were 22 stocks advancing against 28 stocks declining on the index.

The top gainers on Nifty were Larsen & Toubro up by 4.02%, Apollo Hospital Ent. up by 3.19%, SBI Life Insurance up by 2.00%, BSE up by 1.53% and Interglobe Aviation up by 1.38%. On the flip side, Infosys down by 4.20%, ONGC down by 2.56%, TCS down by 2.50%, Tech Mahindra down by 2.24% and HCL Technologies down by 2.09% were the top losers.

Asian markets were trading mostly in green; KOSPI increased 374.10 points or 6.22% to 6,012.44, Taiwan Weighted added 939.35 points or 2% to 47,035.58, Nikkei 225 surged 791.63 points or 1.24% to 64,060.00, Straits Times rose 2.87 points or 0.05% to 5,399.90 and Shanghai Composite strengthened 29.58 points or 0.81% to 3,677.88, while Hang Seng declined 8.32 points or 0.04% to 23,033.00 and Jakarta Composite plunged 57.46 points or 1.09% to 5,208.67.
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