The BSE Sensex dropped by 662.87 points, closing at 79,402.29, a 0.83% decline, while the Nifty50 slipped below the crucial 24,200 mark to end at 24,180.80, down 218.63 points (0.9%).
Broader markets also showed signs of stress as the BSE MidCap index declined by 1.48% and the SmallCap index by 2.4%, edging closer to a ‘correction’ zone as both indices approached a 9% weekly decline.
Impact on the stock market
The decline was felt across various sectors, with the Nifty Auto, Media, Metal, and PSU Bank indices each recording a 2% drop. These sectors saw the most significant pullbacks, driven by weak quarterly performances and broader market sentiment.
Some defensive sectors like Pharma and FMCG managed minor gains. Nifty Pharma and FMCG indices were up by as much as 0.88%, suggesting a degree of resilience in these traditionally stable sectors.
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| Sector/Index | Performance |
| IT & BPM sector | -0.21% |
| Healthcare sector | +0.43% |
| Oil & Gas sector | -2.54% |
| Real estate sector | -1.17% |
| PSU Bank in India | -2.27% |
Top gainers today
| Company | Price | Change % |
| ITC Share Price | 482.30 | +2.25 |
| Axis Bank Share Price | 1,189.35 | +1.88 |
| Britannia Share Price | 5,669.40 | +1.02 |
| HUL Share Price | 2,528.05 | +0.92 |
| Sun Pharma Share Price | 1,860.40 | +0.62 |
Top losers today
| Company | Price | Change % |
| IndusInd Bank Share Price | 1,041.60 | -18.63 |
| Adani Enterpris Share Price | 2,693.45 | -4.83 |
| BPCL Share Price | 306.30 | -4.71 |
| Shriram Finance Share Price | 3,092.65 | -4.70 |
| M&M Share Price | 2,720.85 | -3.73 |
Market aftermath: Impact on stocks
DCB Bank – A 10% Surge on Positive Quarterly Results
Shares of DCB Bank rose by a robust 10%, closing at ₹121 per share, as investors cheered the bank’s Q2 FY25 results. The bank reported a 22.6% YoY increase in net profit, reaching ₹155.5 crore, alongside a 7% growth in net interest income (NII) at ₹509.2 crore.
The bank’s asset quality showed slight improvement, with net non-performing assets (NNPA) reducing to 1.17% from 1.18% in the previous quarter. “Our growth momentum remains strong across both deposits and advances,” noted Praveen Kutty, Managing Director and CEO, as he highlighted the bank’s ongoing focus on analytics, customer engagement, and improved fee income.
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Bikaji Foods International – Snack Maker’s Stock Gains 10%
Bikaji Foods International, a leading player in India’s ethnic snacks market, experienced a 10% stock price increase after announcing strong Q2 earnings. The company, the third-largest ethnic snacks maker in India, saw its net profit rise by 14.7% YoY to ₹68.6 crore, with revenue climbing 19% to ₹721.2 crore.
Operational growth was also evident as EBITDA grew by 22% YoY to ₹106.7 crore, and the EBITDA margin expanded slightly to 14.8%. This financial performance reflects the company’s solid positioning in both domestic and international markets, as well as its standing as the second fastest-growing company in the Indian organised snacks sector.
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Bharat Electronics Ltd (BEL) – Defence Stock Resilience
Defence PSU Bharat Electronics Ltd (BEL) managed to withstand some of the market’s pressures, rebounding from early losses to post mild gains. The company’s Q2 earnings report showed a notable 34% increase in net profit, which came in at ₹1,091.27 crore. Standalone turnover rose by 14.8% YoY to ₹4,425.29 crore.
BEL’s strong order book, now standing at ₹74,595 crore, underpins its future revenue potential. The company’s shares have gained 47% YTD, making it one of the most resilient stocks on the Nifty50 index. With an EPS increase to ₹1.49 from ₹1.11 per share a year ago, BEL continues to attract investor interest, bolstered by its recent entry into the Nifty50.
Crude Oil: Modest Gains Amid Middle East Tensions
The commodities market saw a minor uptick in crude oil prices, as traders kept a close eye on geopolitical developments in West Asia. December Brent crude oil futures inched up by 0.16% to $74.50 per barrel, while December WTI crude traded at $70.28 per barrel, up 0.13%.
These gains came amid renewed concerns over potential supply disruptions following escalating tensions between Israel and Iran. Although US officials have attempted to mediate, fears of a protracted conflict continue to weigh on market sentiment. Meanwhile, crude demand from China remains sluggish despite recent stimulus measures, as markets await the outcome of a November meeting by China’s National People’s Congress on potential fiscal spending initiatives.
Additionally, aluminium futures dipped by 1.32% to ₹238.65, while agricultural commodities like jeera and turmeric fell by 1.26% and 1.68%, respectively, on the National Commodities and Derivatives Exchange (NCDEX).
Conclusion
In summary, the Indian stock market witnessed another turbulent day with the benchmark indices suffering extended losses. The Sensex and Nifty closed sharply lower, signalling ongoing concerns over quarterly results, foreign outflows, and sector-specific weaknesses. Yet, stocks like DCB Bank, Bikaji Foods, and Bharat Electronics demonstrated resilience, posting gains that reflect strong quarterly results and sectoral strength.
The slight uptick in crude oil prices amidst global tensions and the mixed performance across other commodities further add to the complexity of today’s market. As investors brace for more developments, particularly in West Asia and China’s economic policy, the market’s direction will likely remain volatile in the near term.
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