The Indian benchmark indices are set to start on a tepid note, as investors tracked divergent global trends from the US and Asian markets. Wall Street closed higher on Friday, while Asian markets were moving sideways in the early hours of Monday. Investors would continue to track Q2 results and the US-India trade deal on the domestic front, while also keeping a watch on further developments in the US-China deal and global macroeconomic trends.

The Union Government's fiscal deficit for April-September 2025 was ₹5.73 lakh crore, which accounts for only 36.5% of the FY26 budget forecast. The fiscal deficit was 29% of the Budget Estimates (BE) for 2024-25 in the first six months of the previous fiscal year.

Amongst the Asian benchmark indices, Japan’s Nikkei 225 and Singapore’s Straits Times were closed due to a holiday, while South Korea’s KOSPI soared 2.07%. The Hang Seng advanced by 048%, but the Shanghai Composite was down by 0.19% ahead of China’s PMI data announcement. 

The US markets closed in the green on Friday, after recording high weekly gains and monthly winning streaks.  The S&P 500 advanced by 2.27%, the Nasdaq Composite by 4.7% and the Dow rose 2.5% over the month of October. In the past week, the S&P 500 rose 0.7%, the Nasdaq by 2.24% and the Dow rose by 0.75%. 

The S&P 500 added 17.86 points, or 0.26%, to 6,840.20, and the Nasdaq Composite was up 143.81 points, or 0.61%, at 23,724.96. The Dow Jones Industrial Average added 40.75 points, or 0.09%, to 47,562.87. 

Tracking these cues, the Gift Nifty index pointed towards a mildly positive opening, rising 35 points or 0.14% to 25,858. The Indian markets closed lower for the second consecutive session, with the Sensex declining 465.75 points, or 0.55%, to close at 83,938.71, and the Nifty 50 dipping 155.75 points, or 0.60%, to 25,722.10.

Stocks in focus:

Q2 results announcement - Bharti Airtel, Titan Company, Tata Consumer Products, Power Grid Corporation of India, Ambuja Cements, City Union Bank, JK Paper, Hitachi Energy India, Stove Kraft, TBO TEK, Westlife Foodworld, and Wockhardt

Auto stocks - Indian auto companies recorded a steep growth in sales for October, driven by the new GST reforms, which led to a reduction in prices and fueled festive demand. Maruti Suzuki, Tata Motors, Hyundai, Eicher Motors, Mahindra & Mahindra, and TVS Motor stocks will be in focus.

Godrej Consumer Products - The company reported a profit drop of 6.5% to Rs 459.3 crore, but a revenue growth of 4.3% to Rs 3,825.1 crore, vs last year’s same quarter’s Rs 3,666.3 crore.

JK Cement - The company’s profit rose 27.6% to Rs 160.5 crore, and recorded a revenue growth of 18% to Rs 3,019.2 crore.

Zen Technologies - Zen Technologies has been awarded two major contracts from the Ministry of Defence, Government of India, totalling ₹289 crores for the upgradation of its Anti-Drone Systems (ADS).

Medplus Healthcare Services - Optival Health Solutions Private Limited, a subsidiary of the company, has received a suspension order for a Drug License of a store situated in the state of Maharashtra, resulting in a potential loss of Rs 4.34 lakh in revenue.

GK Energy - GK Energy Limited has entered into a definitive agreement with a leading domestic manufacturer for the procurement of 875 MW of Solar Photovoltaic (PV) Cells under the DCR (Domestic Content Requirement) category (450 Mono PERC Solar Cells and 425 MW of Topcon Solar Cells). These supplies are scheduled for delivery up to 31st March 2027. 

Adani Enterprises - The company has divested a 50% stake in Kutch Copper Tubes Limited (KCTL) to MetTube Mauritius Private Limited (MetTube), and consequently, KCTL has ceased to be a subsidiary of the Company; and has completed the acquisition of 50% stake in MetTube Copper India Private Limited (MCIPL). Consequent to the completion of the above transactions, both the entities KCTL and MCIPL have become joint ventures of the company.