The key equity benchmarks traded with modest cuts in early trade. The Nifty traded below the 26,000 level. Pharma, metal and FMCG shares declined, while media stocks advanced.

At 09:30 IST, the barometer index, the S&P BSE Sensex, dropped 303 points or 0.36% to 84,694.13. The Nifty 50 index fell 111.85 points or 0.43% to 25,952.70.

The broader market outperformed the frontline indices. The S&P BSE Mid-Cap index shed 0.10% and the S&P BSE Small-Cap index rose 0.06%.

The market breadth was negative. On the BSE, 1,704 shares rose and 1,283 shares fell. A total of 191 shares were unchanged.

Foreign portfolio investors (FPIs) sold shares worth Rs 2,540.16 crore, while domestic institutional investors (DIIs) were net buyers to the tune of Rs 5,692.81 crore in the Indian equity market on 29 October 2025, provisional data showed.

Stocks in Spotlight:

Infosys shed 0.32%. The company extended its strategic partnerships with Metro Bank and Workday to support the transition of finance operations, enhancing efficiency and digital transformation initiatives.

Titan Company shed 0.02%. The company announced that Ambuj Narayan has resigned as the chief executive officer of its Indian Dress Wear Division.

Wipro rose 0.06%. The company announced a multi-year partnership with HanesBrands Inc. to drive GenAI-led IT 2.0 transformation, aimed at accelerating digital innovation and operational efficiency.

Numbers to Track:

The yield on India's 10-year benchmark federal paper rose 0.35% to 6.560 from the previous close of 6.537.

In the foreign exchange market, the rupee edged lower against the dollar. The partially convertible rupee was hovering at 88.4000 compared with its close of 88.2200 during the previous trading session.

MCX Gold futures for 5 December 2025 settlement fell 1.24% to Rs 119,240.

The US Dollar Index (DXY), which tracks the greenback's value against a basket of currencies, was down 0.06% to 99.09.

The United States 10-year bond yield rose 0.30% to 4.071.

In the commodities market, Brent crude for December 2025 settlement shed 12 cents or 0.18% to $64.80 a barrel.

Global Markets:

Asia-Pacific markets traded mixed on Thursday, after U.S. Federal Reserve Chair Jerome Powell indicated that a rate cut in December was far from a 'foregone conclusion.'

The US Fed on Wednesday slashed the benchmark federal funds rate by 25 basis points, as expected, to bring it to 3.75%-4%.

Japan's central bank kept its benchmark interest rate unchanged at 0.5% in its first policy meeting after Sanae Takaichi assumed office as prime minister earlier this month.

Inflation in Japan has remained above the Bank of Japan's 2% target for the 41st consecutive month.

Investors await signals from the first in-person meeting between U.S. President Donald Trump and Chinese President Xi Jinping since Trump began his second term.

Overnight in the U.S., the Dow Jones Industrial Average closed lower Wednesday after Powell's remarks, having hit a record high earlier in the session.

The Dow Jones Industrial Average closed down 0.2% at 47,632.00, while the S&P 500 ended marginally lower at 6,890.59. However, the Nasdaq Composite gained 0.55% to a fresh record close of 23,958.47, supported by gains in Nvidia.

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