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WEEKLY REPORT
The Indian benchmark indices ended lower for the second consecutive week on mixed corporate earnings, persistent FII selling, and uncertainty over tariff discussions with the US.
For the week, the BSE Sensex index fell 722.43 points or 0.86 percent to finish at 83,216.28, and Nifty50 shed 229.8 points or 0.89 percent to end at 25,492.30.
Among the broader market indices, all the indices ended in red with the BSE Large-cap index, BSE Mid-cap index, and the Small-cap indices went down 1.0, 0.,6 and 1.5 percent this week.
During the week, Bharti Airtel lost the most in terms of market value, followed by Tata Consultancy Services, Maruti Suzuki India, and Larsen & Toubro. On the other hand, Mahindra and Mahindra, State Bank of India, and Bajaj Finance added the most of their market capitalization.
On the sectoral front, the Nifty Media index shed 3.2%, the Nifty Defence index fell 2%, the Nifty Metal index declined 1.7%, the Nifty IT index shed 1.6%; however, the Nifty PSU Bank index gained 2%.
The Foreign Institutional Investors (FIIs) sold equities worth Rs 1,632.66 crore, while the Domestic Institutional Investors (DIIs) bought equities worth Rs 16,677.94 crore.
During the week, the Indian rupee traded near a record low of 88.80. However, it ended 11 paise higher at 88.66 per dollar on November 7 against the October 31 closing of 88.77.
ECONOMY
India’s Service sector activity drops
India’s services sector activity moderated in October, easing to a five-month low of 58.9 from 60.9 in September. This is the first time since June and only the third instance this year that the HSBC Services Purchasing Managers’ Index (PMI) has slipped below the 60 mark, indicating a cooling in the growth momentum. Meanwhile, manufacturing activity picked up, HSBC’s Manufacturing PMI rose to 59.2 from 57.7, driven by festive demand and GST rate cuts, making it the first time in nine months that manufacturing outpaced services.
October witnessed a fall in World Food Prices
The United Nations’ Food and Agriculture Organization said the world food commodity prices fell for a second consecutive month in October, driven largely by ample global supplies. The FOA also noted that the Food Price Index fell to 126.4 points from 128.5 in September. Major declines were seen in sugar (to its lowest since December 2020) and meat, while vegetable oils rose modestly.
STOCKS IN NEWS
Delhivery
The shares of Delhivery went down 7.21 percent this week after the company posted a net loss of Rs 50.4 crore for the second quarter of the financial year 2026, as against a net profit of Rs 10.2 crore reported in the corresponding quarter of the previous financial year.
Ola Electric
The Electric two-wheeler maker’s shares went down over 6.5 percent this week after the company cut its FY26 revenue forecast. Ola reaffirmed its fiscal year 2026 auto gross margin target of 40%, but lowered the revenue forecast to Rs 3,000 crore-Rs 3,200 crore from Rs 4,200 crore-Rs 4,700 crore projected last quarter.
LIC
Shares of Life Insurance Corporation(LIC) went up almost 3 percent over the week. The company reported a standalone net profit of Rs 10,053.39 crore for the second quarter of the financial year 2026. This marks a 32 percent year-on-year (YoY) rise from the Rs 7,620.86 crore net profit reported in the same period last year.
One MobiKwik Systems
Fintech company One MobiKwik Systems’ shares went down 4.24 percent this week, after the company reported a consolidated net loss of Rs 28.6 crore for the quarter ended September 30, 2025, compared to a net loss of Rs 3.6 crore in the same quarter last year, as profitability was impacted by a one-time exceptional charge related to a fraud provision.
Urban Company
The shares of the company went down 5.63 percent over the week. This comes after the company released its first quarterly results following its initial public offering (IPO), where the company reported a consolidated net loss of Rs 59.33 crore for the second quarter of the ongoing financial year 2026.
Source – Moneycontrol, Reuters