The Indian equity markets ended the week on a cautious note as investors turned defensive amid global uncertainties and profit booking in mid and small-cap counters. After two weeks of consecutive gains, the broader indices snapped their winning streak, while PSU banks emerged as the lone bright spot.
Smallcap stocks tumbled sharply — some plunging up to 46% from recent highs — as valuation concerns triggered heavy selling across speculative counters. Both the Nifty Smallcap 250 and Midcap 100 indices ended the week deep in the red, reflecting the rising risk aversion in the broader market.
The Nifty 50 index remained under pressure, closing below 25,500, with analysts now advocating a “sell on rise” strategy unless the index decisively breaks above 25,600. Weak global cues, higher US bond yields, and persistent FII outflows kept sentiment muted.
On the other hand, PSU Banks defied the broader trend, gaining nearly 2% as investors rotated funds into value-driven sectors. Bank Nifty found short-term support near 57,300, with analysts suggesting that a sustained close above 58,200 could signal renewed momentum in banking stocks.
Auto, FMCG, and Metal indices declined sharply, while IT stocks also faced pressure due to weak global tech spending outlooks.
Bajaj Auto Q2 Profit Jumps 24% YoY
Two-wheeler major Bajaj Auto reported a 24% YoY rise in net profit to ₹2,480 crore for the September quarter, driven by strong exports and margin expansion. Revenue growth was supported by strong performance in the premium and export segments, signaling resilience in the face of domestic demand moderation.
Trent Continues Its Retail Surge
Trent Ltd, the retail arm of the Tata Group and parent of Zudio, posted a 6% YoY rise in profit to ₹451 crore, backed by a 17% increase in revenue. This company continues to expand its store network aggressively across Tier-II and Tier-III cities, capitalizing on India’s consumption growth story. Such initiatives typically drive long-term value creation.
ABB India Eyes Post-Capex Revival
Engineering major ABB India reported 13% base-order growth in Q2 and expects strong momentum ahead, particularly in energy automation and motion segments. The management expressed optimism about a revival in private Capex once global macro conditions stabilize.
Adani Enterprises Strikes Copper Deal
Shares of Adani Enterprises gained over 3% after its subsidiary signed a planned copper supply agreement with Australia’s Caravel Minerals. The move strengthens Adani’s foothold in non-energy businesses and supports India’s ambitions in renewable and EV infrastructure.
The IPO market is gaining traction as investors prepare for a busy fortnight of new listings.
- Capillary Technologies IPO opens on November 14, featuring a ₹345 crore fresh issue and an OFS of 92.28 lakh shares. The company’s focus on AI-driven loyalty and marketing automation positions it well in the digital transformation space.
- Tenneco Clean Air India IPO has set its price band at ₹378–₹397 per share, with a listing expected on November 19. This firm’s presence in emission control and clean energy solutions has attracted strong pre-IPO interest.
- PhysicsWallah and Emmvee Photovoltaic are generating buzz in the grey market, with rising GMPs suggesting solid listing-day sentiment.
In addition, Groww’s IPO continues to make headlines as sovereign funds from Norway, Abu Dhabi, and Singapore line up to participate — making it one of 2025’s largest tech offerings.
The week was also marked by several key regulatory developments:
- SEBI issued a warning against unregulated digital gold platforms, naming major jewelry and bullion players such as Tanishq and MMTC. This regulator emphasized that digital gold lacks SEBI oversight, urging investors to stay cautious.
- Swiggy’s board approved a ₹10,000 crore fundraising plan through a Qualified Institutional Placement (QIP). The move follows its recent ₹2,400 crore stake sale in Rapido, signaling a broader push toward strengthening balance sheets ahead of a potential IPO.
- SEBI Chief Madhabi Puri Buch reaffirmed that weekly F&O contracts will continue, despite concerns from retail investors. The regulator emphasized that derivatives remain essential for market liquidity and price discovery.
This corporate world saw major leadership transitions this week. Panasonic India Chairman Manish Sharma resigned after a decade-long stint, having overseen a major expansion in India’s manufacturing market presence.
Meanwhile, Britannia Industries appointed Rakshit Hargave — former CEO of Aditya Birla’s Birla Opus — as Executive Director & CEO, strengthening its next growth phase in packaged foods.
United Spirits announced a planned review of its stake in Royal Challengers Bengaluru (RCB), both IPL and WPL teams, hinting at possible restructuring in its sports and entertainment investments.
Sterlite Technologies is navigating a 50% US tariff on fiber optics but remains bullish on AI-driven telecom demand, as its order book nearly doubled in H1 FY26.
Indian Hotels Company (IHCL) posted a softer Q2 but maintained a double-digit growth outlook for FY26, supported by strong occupancy and upcoming luxury property launches.
SJS Enterprises sustained earnings momentum, projecting 2.5x industry growth in FY26, aided by design-led product diversification in the auto and appliance segments.
Global auto players continue to strengthen their India focus. Toyota and Honda are expanding domestic production as part of a planned shift away from China, driven by cost advantages and political stability.
Nissan, on the other hand, sold its global HQ to Minth Group for $630 million to cut costs and manage debt.
Akasa Air plans to begin international operations to Kenya and Egypt, supported by a steady inflow of Boeing aircraft.
Meanwhile, Maruti Suzuki maintained leadership with strong product pipelines and GST relief, keeping its growth trajectory steady.
Sun Pharma announced plans to expand manufacturing in the US, targeting the launch of its cancer drug UNLOXCYT in H2 FY26.
In tech, OpenAI’s CFO highlighted a massive $1.4 trillion global AI infrastructure commitment, calling for “more exuberance” despite the lack of short-term profitability — a signal of continued optimism in AI-driven economies.
Tata Motors made global headlines by acquiring Iveco for €3.8 billion, marking its largest overseas acquisition since Jaguar Land Rover. Italy approved the deal conditionally, with Iveco’s defense arm to be sold separately to Leonardo.
Meanwhile, Reliance Jio was valued at up to $170 billion by global bankers — potentially placing it among India’s top three companies by market capitalization. This strategic step could enhance market positioning.
Market experts believe Indian equities are entering a healthy consolidation phase after a prolonged rally. With festive demand supporting consumption, PSU strength in banking, and global rate-cut hopes in 2026, the long-term trend remains positive.
However, short-term traders are advised to stay cautious as volatility may persist amid earnings-driven movements, IPO overhang, and FII outflows.
Published by Barawakar |Market Wrap– 08 Nov 2025
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