Indian equities opened weak on Friday, with the Sensex losing nearly 300 points and the Nifty slipping below 25,800 as caution set in ahead of the Bihar election results. The four-day rally paused, dragged down by declines in metal, IT, auto and FMCG stocks.
Among major movers, Pine Labs made a firm debut with a 9.5% premium, while Muthoot Finance surged nearly 10% after reporting strong Q2 earnings. Tata Motors’ commercial vehicles arm fell around 3% after posting a ₹867-crore net loss in its first quarterly results post-listing.
On the macro front, India’s retail inflation eased sharply to 0.25% in October, strengthening expectations of a possible RBI rate cut in December. IPO sentiment stayed strong, with large issues seeing healthy demand.
In the Nifty 50, Asian Paints led the gainers with a rise of about 3.7%, followed by Hindalco and ICICI Bank. On the losing side, M&M, Bharat Electronics and other metal-linked stocks featured among the top drags.
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