Nifty 50 closed at 25,597.65, down by 165.70 points (0.64%). Bank Nifty closed at 57,827.05, down by 274 points (0.47%). Sensex closed at 83,459.15, down by 519.34 points (0.62%).
Biggest Nifty losers were Power Grid Corp, Coal India, Tata Motors Passenger Vehicles, Bajaj Auto, Eternal, while gainers included Titan Company, Bharti Airtel, Bajaj Finance, HDFC Life, M&M. Except consumer durable and telecom, all other sectoral indices ended in the red with IT, auto, FMCG, metal, power, realty, PSU indices down 0.5-1%. BSE midcap index fell 0.2% and smallcap index shed 0.7%.
US Markets
- Dow Jones Futures have plummeted by 443 points, up by 0.93%, currently trading at 47,029.00 as of November 4, 2025.
European Markets
- FTSE (UK) decreased by 113.49 points, down by 0.059%, standing at 9,579.85.
- CAC (France) decreased by 136.77 points, down by 1.69%, at 7,973.69.
- DAX (Germany) decreased by 439.70 points, down by 1.83%, at 23,690.68.
Global events/updates
- UK Chancellor Rachel Reeves hinted at upcoming tax increases in an unexpected pre-budget speech, calling for “fairness and opportunity” in her fiscal plan. The unannounced address, described by critics as an “emergency press conference,” aimed to manage public expectations ahead of the budget, signaling efforts to balance growth with responsible public finances.
- Goldman Sachs and Morgan Stanley expect a 10–20% market correction in the next 1–2 years, saying stocks have risen too fast. Warnings from the IMF, Fed Chair Jerome Powell, and Bank of England’s Andrew Bailey also point to inflated equity valuations, suggesting investors should brace for a possible pullback after recent strong market gains.
- Binance CEO Richard Teng denied reports that the exchange promoted a Trump-linked stablecoin before former CEO Changpeng Zhao’s pardon. The issue arose after Binance’s $2 billion deal with Abu Dhabi’s MGX was settled using USD1, a stablecoin created by Trump’s crypto firm. The controversy adds pressure over Trump’s growing influence in the crypto sector.
- BP reported a third-quarter profit of $2.21 billion, beating market expectations, driven by higher oil and gas production. The strong results come eight months after BP began a major strategic shift, cutting back on renewable investments to focus more on its core oil and gas business, aiming to restore investor confidence and improve profitability.
- HSBC’s Georges Elhedery and General Atlantic’s William Ford cautioned that companies are overspending on AI despite limited short-term revenue. They said returns from productivity and innovation will take years to materialize. Big Tech giants like Alphabet, Meta, Microsoft, and Amazon plan $380 billion in capex, while OpenAI’s massive $1 trillion infrastructure deals raise further concern.
Stock news
- Alembic Pharmaceuticals Ltd (↑7%): Alembic reported strong growth with revenue up 16% YoY and 12% QoQ. Net profit rose 21% YoY and 20% QoQ. EBITDA grew 31.4% YoY, and margins improved to 16.5% from 14.6%, marking a 190 bps increase.
- Indian Metals & Ferro Alloys Ltd (↑3%); IMFA’s revenue rose 3.86% YoY and 12% QoQ, though net profit fell 21% YoY and 8% QoQ. It declared a ₹5 dividend (record date: Nov 11). IMFA also acquired Tata Steel’s Kalinganagar ferrochrome plant for ₹610 crore, boosting capacity to 0.5 million tonnes.
- Arvind Smartspaces; Arvind Smartspaces expects ₹14,000 crore GDV by year-end, with ₹4,000 crore additional GDV this year. It targets 35% booking growth, focusing 40% each from Bengaluru and Gujarat, and 20% from MMR. Baroda project ticket size: ₹70 lakh; collection growth: 10–15%.
- RMC Switchgears Ltd: RMC Switchgears reported revenue growth of 13% HoH and 130% YoY, while PAT declined 10% HoH but rose 89% YoY, indicating strong yearly performance despite half-year margin pressure.
- Escorts Kubota Ltd (↓2%): Rekha Jhunjhunwala-backed Escorts Kubota saw revenue up 23% YoY and 12% QoQ, but PAT dropped sharply 77% QoQ and 2% YoY. Weakness came from the agri machinery and construction equipment segments.
- Aptech Ltd; Aptech posted 7% YoY and 12% QoQ revenue growth, with net profit rising 18% YoY but slightly down 1% QoQ, reflecting stable operational performance with modest profitability.
- Adani Ports & SEZ Ltd: Adani Ports reported 30% YoY revenue growth and 29% YoY profit rise, though profit fell 5.7% QoQ. Operating capacity is 633 MTPA, targeting 1 billion tonnes by 2030. Mundra Port ranked 25th globally in World Bank’s 2024 index.
- Solarium Green Energy Ltd (↑2.3%) Solarium signed MOUs worth ₹140 crore for 100 MW solar PV module supply with multiple partners. The 1.41 lakh advanced G12/G12R modules will be produced in-house at ₹14 per watt, with 10% advance and 90% pre-dispatch payment terms.
- Khaitan Chemicals & Fertilizers Ltd; Shares rose after promoter group firm The Majestic Packaging Co. bought 60,000 shares on November 4. The move signals promoter confidence, pushing the stock up 9% intraday.
- JK Paper Ltd : JK Paper’s revenue declined 4% YoY and 4.5% QoQ, while net profit fell 40% YoY and 8% QoQ, reflecting continued pricing and demand pressure in the paper segment.
- Route Mobile Ltd : Route Mobile’s revenue rose 0.5% YoY and 6.5% QoQ, but it swung to a ₹19 crore loss from ₹107 crore profit YoY. Announced ₹3 dividend; record date: Nov 10, 2025.
- Black Box Ltd: India Opportunities Growth Fund sold 20 lakh shares around ₹550 each, worth over ₹110 crore. Despite this, the stock remains stable as investors rotate holdings amid institutional reshuffling.
- BlackRock – Sammaan Capital: BlackRock increased its stake in Sammaan Capital to 5.33% from 4.86% after purchasing 38.75 lakh shares, crossing the 5% ownership mark in the Indian NBFC.
- BMW Ventures Ltd (↑3%): The company secured a ₹9.94 crore order for Indian Railways for steel girder fabrication. Work will be executed in 90 days at its RDSO-approved facility, boosting its order book.
- Dynamatic Technologies Ltd (↑7%): Dynamatic joined L&T and BEL in developing India’s 5th Gen AMCA fighter jet. Its aerostructures expertise strengthens India’s aerospace ecosystem and domestic defence manufacturing capabilities.
- One Mobikwik Systems Ltd (↓6%): Mobikwik’s revenue dipped 0.4% QoQ and 7% YoY to ₹270.2 crore, though losses narrowed to ₹29 crore from ₹41.9 crore last quarter, reflecting cost control efforts amid slower growth.
- Cipla Ltd: Cipla will acquire 100% of Inzpera Healthsciences for ₹110.65 crore. Inzpera, focused on paediatric and wellness products, will become a wholly owned subsidiary, expanding Cipla’s specialty pharma footprint.
- Narayana Hrudalaya Ltd (↑4%): Narayana Hrudalaya set a medium-term RoCE target of 20–22% by FY30 after acquiring UK-based Practice Plus Group. The £183 million leveraged deal has no impact on its India balance sheet.
- Bharti Airtel Ltd (↑2.24%): Airtel posted 25.7% YoY revenue growth and 5.4% QoQ rise, with net profit surging 108% YoY and 16.5% QoQ, driven by strong subscriber growth and improved ARPU across markets.
Brokerage Recommendations
Automotive Axles
- Target Price:- Rs 1,950 apiece
- Upside:- 17.55%
- By Axis Direct
Dhanuka Agritech
- Target Price:- Rs 1,640 apiece
- Upside:- 24.55%
- By Axis Direct
GMR Infra
- Target Price:- Rs 123 apiece
- Upside:- 30%
- By Elara Capital
R R Kabel
- Target Price:- Rs 1,820 apiece
- Upside:- 28.65%
- By Choice Equity Broking Private Ltd
Top gainer/Top loser (Nifty 500)
| Top gainers | Top losers |
| 3M India Ltd. (17%) | Blue Jet Healthcare (-10%) |
| Hitachi Energy (13.06%) | Reliance Power (-7.5%) |
| City Union Bank (8.41%) | Transformers & Rectifiers(-6.01%) |
| TBO Tek (6.42%) | Reliance Infra(-5%) |
| Jyoti CNC Automation (6.36%) | Netweb Technologies (-4.85%) |
Conclusion:- Markets ended lower amid broad-based selling, with Nifty closing below 25,600 as most sectors, except telecom and consumer durables, declined. Global cues remained weak as European indices fell and U.S. futures turned volatile. Despite select stock-specific gains in Titan, Airtel, and Bajaj Finance, investor sentiment stayed cautious amid correction warnings from global financial institutions.
Written by Abhishek Singh
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