The key domestic indices ended with moderate losses, extending their losing streak for the second consecutive trading session. Investors' sentiment dampened due to softer economic data. Investors track Q2 earnings reports and global cues for further direction. The Nifty ended below the 25,550 mark after touching day's high of 25,679.15 in early trade.

Media, metal and realty shares declined while IT and auto shares advanced.

As per provisional closing data, the barometer index, the S&P BSE Sensex declined 148.14 points or 0.18% to 83,311.01. The Nifty 50 index fell 87.95 points or 0.34% to 25,509.70. In the past two trading session Sensex and Nifty declined 0.79% and 0.98%, respectively.

The broader market underperformed the headline indices. The S&P BSE Mid-Cap index declined 1.19% and the S&P BSE Small-Cap index dropped 1.53%.

The market breadth was weak. On the BSE, 1,619 shares rose and 2,540 shares fell. A total of 177 shares were unchanged.

New Listing:

Shares of Orkla India ended at Rs 713.40 on the BSE, representing a discount of 2.27% as compared with the issue price of Rs 730.

The stock was listed at Rs 751.50, exhibiting a premium of 2.95% to the issue price.

The stock has hit a high of 755 and a low of 715. On the BSE, over 11.05 lakh shares of the company were traded in the counter.

IPO Update:

Billionbrains Garage Ventures (Groww) received bids for 54,21,91,950 shares as against 36,47,76,528 shares on offer, according to stock exchange data at 15:42 IST on Thursday(6 November 2025). The issue was subscribed 1.49 times. The issue opened for bidding on 4 November 2025 and it will close on 7 November 2025. The price band of the IPO is fixed between Rs 95 and 100 per share.

Economy:

The seasonally adjusted HSBC India Services PMI Business Activity Index stood at 58.9 in October from 60.9 in September, comfortably above both the neutral mark of 50.0 and its long-run average of 54.3. October data showed softer, although still substantial, expansions in Indian services output and new business. While factors like demand buoyancy and GST (Goods and Services Tax) relief reportedly led to an improvement in operating conditions, competition and heavy rains constrained growth.

HSBC India Composite PMI Output Index fell to 60.4 in October from 61.0 in September. There was also a weaker, albeit still substantial, upturn in aggregate sales. The rate of expansion was the softest in five months. For new orders and output, the slowdowns in growth were centred on the service economy as manufacturers actually registered quicker rates of expansion.

Buzzing Index:

The Nifty Media index declined 2.07% to 1,493.60. The index declined 3.08% in the two consecutive trading sessions.

Saregama India (down 6.43%), Tips Music (down 3.25%), Network 18 Media & Investments (down 2.84%), Nazara Technologies (down 2.65%), Hathway Cable & Datacom (down 2.64%) were the top losers. Among the other losers were Sun TV Network (down 2.38%), Zee Entertainment Enterprises (down 2.08%), Prime Focus (down 1.66%), D B Corp (down 1.45%) and PVR Inox (down 1.2%) declined.

Stocks in Spotlight:

Interglobe Aviation(Indigo) added 1.11%. The company's consolidated net loss widens to Rs 2,582.1 crore in Q2 FY26, compared with net loss of Rs 986.7 crore in Q2 FY25, including the impact of currency movement pertaining to dollar based future obligations. Revenue from operations increased 9.34% to Rs 18,555.3 crore in Q2 Sept 2025, driven by strong operational execution and efficient capacity deployment.

Zydus Lifesciences declined 3.82%. The company reported 38.12% jump in consolidated net profit to Rs 1,258.60 crore in Q2 FY26, compared with Rs 911.2 crore posted in Q2 FY25. Revenue from operations increased 18.07% year on year (YoY) to Rs 6,037.9 crore in Q2 FY26.

Sun Pharmaceutical Industries shed 0.25%. The company has reported 2.6% rise in consolidated net profit to Rs 3,118 crore on a 8.6% increase in revenue to Rs 14,405.2 crore in Q2 FY26 as compared with Q2 FY25.

Britannia Industries advanced 2.35% after its consolidated net profit increased 23.14% to Rs 654.47 crore on 3.70% jump in total revenue from operations to Rs 4,840.63 crore in Q2 FY26 over Q2 FY25.

Delhivery slumped 9.99% after the company reported a consolidated net loss of Rs 50.37 crore in Q2 FY26, compared with a net profit of Rs 10.20 crore in Q2 FY25. Revenue from operations increased 16.87% year on year to Rs 2,559.32 crore in Q2 FY26.

Avanti Feeds rallied 2.03% after the company's consolidated net profit jumped 34.87% to Rs 153.29 crore in Q2 FY26 as against Rs 113.65 crore in Q2 FY25. Revenue from operations increased 19.04% year on year to Rs 1,609.69 crore in the quarter ended 30 September 2025.

Garden Reach Shipbuilders & Engineers rose 1.08% after its standalone net profit surged 57.28% to Rs 153.78 crore in Q2 FY26, compared with Rs 97.77 crore in Q2 FY25. Revenue from operations jumped 45.48% YoY to Rs 1,677.38 crore during the quarter ended 30 September 2025.

Hindalco Industries fell 6.10% after the company's wholly owned subsidiary Novelis Inc. warned of a $550-650 million negative free cash flow impact in FY26 following a fire at its Oswego plant in New York. The company disclosed in a regulatory filing that the incident, which occurred on 16 September 2025, may also result in an adjusted EBITDA hit of $100-150 million for the fiscal year. Hindalco said it has recognized $21 million in related charges in Q2 FY26, though it expects 70-80% of the losses to be recoverable through insurance in future periods.

Grasim Industries declined 5.86% after Rakshit Hargave, CEO, Birla Opus Paints, stepped down to pursue opportunities outside the company. Meanwhile, the company 's consolidated net profit jumped 75.91% to Rs 553.48 crore on 16.59% increase in revenue from operations to Rs 39,899.58 crore in Q2 FY26 over Q2 FY25.

Global Markets:

European markets declined as investors awaited central bank decisions from Norway and U.K. on Thursday.

Asia-Pacific markets ended higher on Thursday, tracking Wall Street gains after AMD's third-quarter earnings beat, which lifted artificial intelligence (AI) stocks.

U.S. equity futures were little changed in early Asian hours after the Supreme Court expressed skepticism over President Donald Trump's tariffs, and as AI stocks recovered following a sell-off on valuation concerns.

Overnight, the Dow Jones Industrial Average gained 225.76 points, or 0.48%, to close at 47,311.00. The S&P 500 rose 0.37% to finish at 6,796.29, while the Nasdaq Composite advanced 0.65% to settle at 23,499.80.

Investors were paying attention to the Supreme Court hearing Wednesday regarding President Donald Trump's tariffs. At issue is whether the president had the authority to impose such duties under the International Emergency Economic Powers Act, or IEEPA.

The high court's justices focused their questions on the legality of the sweeping tariffs, with both conservative and liberal members asking Solicitor General D. John Sauer about the Trump administration's justification.

Equity investors received some encouraging data on the economy Wednesday with better ADP payrolls data and a stronger ISM services economy reading.

Payroll growth at private companies turned slightly stronger than expected in October, providing some hope that the labor market isn't in danger of sinking, ADP reported Wednesday. Companies added 42,000 jobs for the month, following a decline of 29,000 in September. A revision for September showed 3,000 fewer jobs lost, the payrolls processing firm said.

Service-sector activity picked up in October, pushed by new orders and general business activity as imports receded,

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