The Nifty traded below the 25,850 mark. FMCG shares witnessed profit booking after advancing in the past six consecutive trading sessions.

At 11:30 IST, the barometer index, the S&P BSE Sensex, declined 257.40 points or 0.31% to 84,295.44. The Nifty 50 index lost 82.75 points or 0.33% to 25,809.85.

In the broader market, the S&P BSE Mid-Cap index shed 0.06% and the S&P BSE Small-Cap index fell 0.21%.

The market breadth was negative. On the BSE, 1,615 shares rose and 2,222 shares fell. A total of 222 shares were unchanged.

Economy:

The HSBC Flash India Composite PMI Output Index fell to 59.9 in October from 61.0 in September (final), pointing to a moderation in private sector growth. The Services PMI Business Activity Index also eased to 58.8 from 60.9, while the Manufacturing PMI rose to a two-month high of 58.4 compared with 57.7 in September. The Manufacturing Output Index increased further to 62.4 from 61.1, indicating robust factory production.

The latest HSBC Flash PMI data highlighted the weakest expansions in aggregate new orders and output since May 2025, with international sales also rising to a lesser extent. Meanwhile, the rate of job creation was the joint-softest in a year-and-a-half. Price trends were mixed, with input costs increasing at the weakest pace since June and charge inflation quickening since September. Businesses remained optimistic regarding growth prospects, though sentiment faded at the start of the third fiscal quarter.

Pranjul Bhandari, Chief India Economist at HSBC, said: The HSBC flash manufacturing PMI picked up a tad, likely on the back of GST rate cuts which are buoying domestic demand and curbing cost pressures. New orders and output, both, are above the average Jan-Jul levels. However, the drag from US tariff continues to show up in new export orders and future optimism, which remain below the Jan-Jul levels.

Buzzing Index:

The Nifty FMCG index fell 1.16% to 56,112.65. The index rallied 2.96% the past six consecutive trading sessions.

Colgate-Palmolive (India) (down 3.32%), Hindustan Unilever (down 3.27%), Dabur India (down 1.80%), Patanjali Foods (down 1.68%), Varun Beverages (down 1%), Tata Consumer Products (down 0.99%), Godrej Consumer Products (down 0.99%), Emami (down 0.99%), Britannia Industries (down 0.90%) and Nestle India (down 0.69%) declined.

On the other hand, United Spirits (up 0.24%) and Marico (up 0.03%) edged higher.

Stocks in Spotlight:

Arihant Foundations & Housing dropped 4.05%. The company has recorded 13% rise in total sale value to Rs 112.9 crore in Q2 FY26 from Rs 100.2 crore posted in Q2 FY25.

South India Paper Mills surged 15.11% after the company reported consolidated net profit 2.81 crore in Q2 FY26 compared with net loss of Rs 1.21 crore in Q2 FY25. Revenue from operations increased 9.62% YoY to Rs 111.56 crore in Q2 September 2025.

Larsen & Toubro (L&T) rose 0.10%. The company's Minerals & Metals (M&M) vertical has secured multiple orders across India, with contract values ranging between Rs 2,500 crore and Rs 5,000 crore, as per the company's internal classification.

Global Markets:

Asia-Pacific markets gained on Friday following a White House announcement that U.S. President Donald Trump and China's President Xi Jinping are scheduled to hold talks the following week.

U.S. Press Secretary Karoline Leavitt reportedly confirmed that President Trump will travel to Malaysia, Japan, and South Korea, with media reports stating he will meet President Xi next Thursday. This meeting is set to occur after Trump speaks at the Asia-Pacific Economic Cooperation CEO Summit.

In Japan, the core inflation rate accelerated to 2.9% in September, marking the first increase since May and rising from 2.7% in August. Japan's core inflation metric excludes fresh food prices but includes energy costs. The country's headline inflation also climbed to 2.9% from 2.7% the previous month.

Overnight, the three major averages closed higher. The S&P 500 climbed 0.58% to close at 6,738.44, boosted by tech stocks, after a batch of strong earnings results.

The Dow Jones Industrial Average traded up 144.20 points, or 0.31%, to finish at 46,734.61. The Nasdaq Composite outperformed, rising 0.89% to settle at 22,941.80, seeing support from the gains in Nvidia, Broadcom and Amazon. A nearly 3% jump in shares of fellow artificial intelligence player Oracle also boosted sentiment.

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