The S&P BSE Sensex tumbled 592.67 points or 0.70% to 84,404.46. The Nifty 50 index fell 176.05 points or 0.68% to 25,877.85.
Reliance Industries (down 1.04%), Bajaj Finance (down 1.04%) and HDFC Bank (down 0.97%) wee major drags today.
The broader market outperformed the frontline indices. The S&P BSE Mid-Cap index ended flat, while the S&P BSE Small-Cap index slipped 0.06%.
The market breadth was negative. On the BSE, 1,807 shares rose and 2,363 shares fell. A total of 161 shares were unchanged.
The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, rose 0.79% to 12.07.
US-China Trade Talk:
U.S. President Donald Trump hailed his meeting with Chinese President Xi Jinping on Thursday (30 October 2025) as a 'roaring success,' announcing that the U.S. would reduce tariffs on Chinese goods while Beijing agreed to resume exports of rare earth elements and purchase American soybeans.
Trump also said tariffs on fentanyl-related products from China would be lowered from 20% to 10%, bringing the overall average tariff rate on Chinese imports down from 57% to 47%.
He added that discussions included the potential export of advanced computer chips to China, with Nvidia expected to hold talks with Chinese officials. Trump said he could sign a trade deal with China 'pretty soon.'
Despite the upbeat tone, investors remained cautious, citing a lack of concrete details and Trump's history of shifting rhetoric on China as reasons for uncertainty.
Numbers to Track:
The yield on India's 10-year benchmark federal paper rose 0.57% to 6.574 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 88.7500 compared with its close of 88.2200 during the previous trading session.
MCX Gold futures for 3 October 2025 settlement rose 0.01% to Rs 120,680.
The US Dollar Index (DXY), which tracks the greenback's value against a basket of currencies, was up 0.01% to 99.04.
The United States 10-year bond yield rose 0.42% to 4.076.
In the commodities market, Brent crude for December 2025 settlement lost 38 cents or 59% to $63.94 a barrel.
Global Markets:
The US Dow Jones index futures were down 146 points, indicating a weak start for US stocks later today.
European market declined on Thursday as investors await more corporate earnings, the latest growth data and a European Central Bank rate decision, scheduled to be announced later today.
Shares in Asia ended mixed 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.
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.
Stocks in Spotlight:
Larsen & Toubro added 0.91%. The company reported a 15.6% jump in consolidated net profit to Rs 3,926.09 crore on 10.4% increase in revenue from operations to Rs 67,983.53 crore in Q2 FY26 over Q2 FY25.
Bharat Heavy Electricals (BHEL) added 6.39% after the company's consolidated net profit surged 253.17% to Rs 374.89 crore in Q2 FY26 compared with Rs 106.15 crore in Q2 FY25. Revenue from operations rose 14.06% year on year to Rs 7,511.80 crore in the quarter ended 30 September 2025.
Le Travenues Technology dropped 16.18% after the company reported consolidated net loss of Rs 3.17 crore in Q2 FY26 compared with net profit of Rs 13.08 crore posted in corresponding quarter last year. Revenue from operations jumped 36.94% YoY to Rs 282.74 crore in Q2 September 2025.
Vaibhav Global soared 6.43% after the company's consolidated net profit climbed 71.04% to Rs 47.55 crore on 10.16% jump in revenue from operations to Rs 877.31 crore in Q2 FY26 over Q2 FY25.
PB Fintech rallied 6.97% after the company's consolidated net profit surged 164.59% to Rs 134.87 crore in Q2 FY26, compared with Rs 50.98 crore in Q2 FY25. Revenue from operations climbed 38.23% to Rs 1,613.55 crore in Q2 FY26 as against Rs 1,167.23 crore recorded in the corresponding quarter previous year.
Mahanagar Gas fell 1.90% after the company's standalone net profit tanked 32.57% to Rs 193.37 crore in Q2 FY26 as against Rs 286.78 crore posted in Q2 FY25. Revenue from operations (excluding excise duty) surged by 14.72% YoY to Rs 2,049.33 crore for the quarter ended 30 September 2025.
Sagility surged 7.13% after the company's adjusted profit after tax (PAT) surged 84% YoY and 50.7% sequentially to Rs 301 crore while revenue stood at Rs 1,658.5 crore in Q2 FY26, marking a 25.2% year-on-year increase from Rs 1,325 crore in Q2 FY25 and a 7.8% sequential rise from Rs 1,538.9 crore in Q1 FY26.
United Breweries (UBL) declined 2.96% after the company's consolidated net profit tumbled 64.8% to Rs 46.52 crore in Q2 FY26, compared with Rs 132.17 crore in Q2 FY25. Revenue from operations (excluding excise duty) fell 3.02% YoY to Rs 2,052.83 crore in the September 2025 quarter.
Canara Bank rallied 3.18% after the bank's standalone net profit jumped 18.92% to Rs 4,773.96 crore on 11.17% increase in total income to Rs 35,597.73 crore in Q2 FY26 over Q2 FY25.
Capri Global Capital declined 1.24%. The company reported 143.34% surge in consolidated net profit to Rs 236 crore in Q2 FY26 as against Rs 96.98 crore reported in Q2 FY25. Revenue from operations jumped 49.28% YoY to Rs1,123.89 crore in the quarter ended 30 September 2025.
RailTel Corporation of India fell 1.13%. The company's standalone net profit jumped 4.72% to Rs 76.07 crore in Q2 FY26, compared with Rs 72.64 crore in Q2 FY25. Revenue from operations rose 12.78% YoY to Rs 951.36 crore in Q2 FY26.
Zydus Lifesciences fell 1.55%. The company announced that it has received the Establishment Inspection Report (EIR) from the U.S. Food and Drug Administration (USFDA) for its manufacturing facility located at Baddi, Himachal Pradesh.
IPO Update:
Orkla India received bids for 4,31,67,460 shares as against 1,59,99,104 shares on offer, according to stock exchange data at 16:50 IST on Thursday (30 October 2025). The issue was subscribed 2.70 times.
Studds Accessories received bids for 83,93,275 shares as against 54,50,284 shares on offer, according to stock exchange data at 16:50 IST on Thursday (30 October 2025). The issue was subscribed 1.54 times.
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