Mumbai – November 6, 2025 – Indian equity benchmarks ended lower on Thursday amid consolidation, with Nifty 50 down 0.34% at 25,509.7 and BSE Sensex falling 0.18% to 83,311.01. Small-cap and mid-cap indices also slipped 1.4% and 1%, respectively.

Market Drivers:

• Gains in Reliance Industries (+1.6%) helped limit losses for the broader Nifty 50.
• Sectoral weakness: 14 of 16 major sectors closed lower.
• Grasim Industries (-6.3%) led declines after the resignation of Birla Opus CEO.
• Asian Paints (+4.7%) rose on a Nomura upgrade to “buy,” easing disruption concerns.
• Hindalco (-5.2%) fell due to debt concerns at its U.S. unit Novelis.
• Adani Enterprises (-4.4%) slipped after reporting lower adjusted profit.
• Paytm (+4.2%) gained following strong core quarterly performance and its inclusion in the MSCI Global Standard Index.

Outlook:
Markets remain cautious amid uncertainty over an India-U.S. trade deal and the Federal Reserve’s pause in rate cuts, which has constrained further upside.