The Sensex slipped 0.11% (–94.73 points) to 83,216.28, while the Nifty 50 eased 0.07% (–17.40 points) to 25,492.30. Early on, both indices fell as much as 0.75%, so the close was notably better than the morning mood.
The broader markets told a split story. Nifty Midcap 100 rose 0.63%, while Nifty SmallCap 100 edged 0.16% lower — risk appetite stayed selective, not risk-off.
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Impact on the stock market
Sector-wise performance
- Nifty Financial Services Ex-Bank led gainers, up 2.18%. A firmer feel across diversified financiers and ancillary names helped steady sentiment despite volatility at the index level.
- Metals bounced with the Nifty Metal index up 1.41%; Tata Steel featured among the notable index gainers.
- PSU Bank added 0.87%, extending a steady run as investors stayed positioned for credit growth resilience.
On the downside:
- Consumer Durables fell 0.72%, hinting at a cool-off after festive demand.
- IT slipped 0.62%, weighed by weakness in select large caps.
- FMCG eased 0.49%, a modest give-back as defensives took a back seat to financials and cyclicals.
| Sector/Index | Performance |
| IT & BPM sector | -0.62% |
| Healthcare sector | -0.27% |
| Oil & Gas sector | 0.00% |
| Real estate sector | -0.02% |
| PSU Bank in India | 0.87% |
Top gainers today
| Company | Share Price (in ₹) | Change % |
| Shriram Finance | 816.35 | 3.01 |
| Adani Enterprises | 2,369.40 | 2.38 |
| Bajaj Finance | 1,066.60 | 2.37 |
| Tata Steel | 181.37 | 2.31 |
| M&M | 3,690.20 | 1.98 |
Top losers today
| Company | Share Price (in ₹) | Change % |
| Bharti Airtel | 2,001.20 | -4.47 |
| TATA Cons. Products | 1,167.20 | -1.95 |
| Interglobe Aviation | 5,583.50 | -1.92 |
| Tech Mahindra | 1,386.70 | -1.90 |
| Apollo Hospital | 7,642.00 | -1.80 |
Market aftermath: Impact on stocks
Bajaj Auto: Profit up 24% as exports fire, margins cross 20%
Bajaj Auto posted a sturdy Q2 FY26 print: standalone net profit rose 24% YoY to ₹2,480 crore (from ₹2,005 crore), on a 14% jump in revenue from operations to ₹14,922 crore. Management flagged a richer mix and best-ever spares sales as key drivers. Despite a supply-disrupted quarter, EBITDA crossed ₹3,000 crore for the first time, with margin at 20.5%, up 70 bps QoQ — helped by currency realisation and operating leverage.
Exports did the heavy lifting. Sector-wide two-wheeler exports were up 25% YoY; Bajaj’s exports rose 19.2%, and a little over 40% of the company’s sales volumes still come from exports. Domestic motorcycles fell 4.6%, but that was an improvement on the prior quarter’s –8%. On the EV side, Chetak regained leadership in October, after supply gaps in July–August were addressed by alternate measures that unlocked magnet availability.
The balance sheet remains robust: surplus funds of ₹14,244 crore, even after ₹5,864 crore dividends and ₹2,000+ crore infusions into subsidiaries (including the KTM Austria transaction and scaling Bajaj Auto Credit). The stock closed marginally lower at ₹8,717, with Monday (11 November) likely to be lively as investors digest the late-evening print.
Trent: Profit up 6%, revenue up 17% as Zudio and Westside keep footfall strong
Trent reported Q2 FY26 standalone net profit of ₹451 crore, +6.45% YoY (vs ₹423.44 crore). Revenue from operations climbed 17% YoY to ₹4,724 crore (vs ₹4,036 crore). The Zudio and Westside parent continues to lean on store expansion and strong value-fashion throughput.
The stock closed down a little over 1% at ₹4,618.50 on Friday ahead of the result drop in the post-market window. With the update now out, the market will watch same-store metrics, expansion cadence and festive quarter commentary when trade resumes on Monday (11 November). For Trent, the big picture remains one of scale + value execution, even as demand pockets turn more discerning.
Adani Enterprises: Copper bet lifts shares 3% after Kutch Copper–Caravel pact
Adani Enterprises rose ~3% intraday after unit Kutch Copper Ltd (KCL) signed an agreement with Caravel Minerals to advance a Western Australia copper project. Capex is estimated at A$1.7 billion (~$1.10 billion), with KCL getting first rights to participate via direct equity or project-level investments during the term. Caravel Minerals jumped 17% on the news.
The pact dovetails with Kutch Copper’s $1.2-billion facility in Gujarat, billed as the world’s largest single-location plant of its kind; the unit has applied to list as a copper-producing brand on the London Metal Exchange. With copper demand projected to surge ~50% by 2040, the linkage to critical-minerals supply chains and the India–Australia FTA makes strategic sense.
Context: earlier this week, Adani Enterprises reported a drop in adjusted Q2 profit as coal trading softened, even as the board approved a ₹25,000-crore rights issue. Revenue fell ~29% to ₹6,658 crore, with new energy up 3.7% and airports up 42.7%. The copper strategic optionality provided the stock with a timely narrative shift after five sessions of declines.
Crude oil: Prices tick up despite oversupply talk as sanctions and margins lend support
Crude inched higher on Friday morning:
- Brent (Jan): $63.75, +0.58%
- WTI (Dec): $59.82, +0.66%
- MCX Crude (Nov): ₹5,304, +0.80%; MCX Crude (Dec): ₹5,311, +0.63%
The cross-currents: US and European sanctions on Russia and Iran are disrupting flows and supporting prices even as the macro narrative debates oversupply into 2026. Refinery margins remain firm, cushioning crude despite a more bearish medium-term outlook.
On pricing levers: Saudi Aramco cut December OSPs into Asia — Arab Light lowered $1.20/bbl MoM to a +$1/bbl premium over benchmark, the lowest since January. Meanwhile, OPEC+ agreed to a 137,000 bpd supply hike for December but will pause further increases through Q1 next year given surplus concerns.
From the latest EIA weekly: US crude inventories +5.2 mn bbl, driven by higher imports (+873,000 bpd). Gasoline –4.73 mn bbl — the lowest stocks since November 2022 — and product tightness provided the more constructive signal for prices.
On the domestic board, MCX natural gas (Nov) was ₹388 (+1.86%). In agri-commodities, NCDEX turmeric (Dec) traded at ₹14,604 (–0.26%), and NCDEX jeera (Dec) at ₹20,450 (–0.24%).
Conclusion
Three sessions down, but not out. Friday saw buyers stepping in, especially in financials and metals, despite a weak start. Sensex closed at 83,216.28 (-0.11%) and Nifty at 25,492.30 (-0.07%), reflecting late-session recovery.
- Bajaj Auto: Export-driven growth with 20.5% margin and strong balance sheet.
- Trent: 17% revenue growth and steady profits from value fashion.
- Adani Enterprises: Copper project partnership adds long-term potential.
Crude oil saw a slight rise, highlighting the balance between geopolitics and refinery margins. For equity investors, the focus remains on earnings visibility, cash flow, and credible catalysts. The market may be digesting, but being selective and nimble remains key.
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