PSU bank shares declined after advancing in the past trading session.

At 14:30 IST, the barometer index, the S&P BSE Sensex, declined 409.21 points or 0.48% to 84,148.25. The Nifty 50 index fell 110.30 points or 0.43% to 25,781.75.

In the broader market, the S&P BSE Mid-Cap index fell 0.30% and the S&P BSE Small-Cap index fell 0.27%.

The market breadth was negative. On the BSE, 1,638 shares rose and 2,459 shares fell. A total of 185 shares were unchanged.

The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, was shed 0.93% to 11.62.

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 PSU Bank index fell 1.01% to 7,795.60. The index rose 0.28% in the past trading session.

UCO Bank (down 2.20%), Indian Overseas Bank (down 1.69%), Bank of Maharashtra (down 1.55%), Bank of India (down 1.54%), Punjab National Bank (down 1.41%), Punjab & Sind Bank (down 1.35%), Central Bank of India (down 1.24%), Indian Bank (down 1.14%), Union Bank of India (down 1.12%) and State Bank of India (down 1.05%) declined.

Numbers to Track:

The yield on India's 10-year benchmark federal paper rose 0.15% to 6.549 from the previous close of 6.538.

In the foreign exchange market, the rupee edged higher against the dollar. The partially convertible rupee was hovering at 87.7900 compared with its close of 87.8850 during the previous trading session.

MCX Gold futures for 5 December 2025 settlement fell 1.64% to Rs 122,050.

The US Dollar Index (DXY), which tracks the greenback's value against a basket of currencies, was up 0.11% to 98.84.

The United States 10-year bond yield gained 0.58% to 4.013.

In the commodities market, Brent crude for December 2025 settlement rose 5 cents or 0.08% to $66.04 a barrel.

Stocks in Spotlight:

Vinyas Innovative Technologies shed 0.76%. The company announced that it has received purchase orders worth Rs 33.15 crore from a domestic customer.

Refex Industries advanced 2.59% after bagging an order worth Rs 300 crore from a large mining entity in Jharkhand for removal of overburden (OB), excavation, and transportation of coal.

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