Indian equities traded lower through the midday session on Friday as investors booked profits after a three-session rally. Weakness in banking and financial shares dragged the benchmarks, while elevated crude prices and a sharp rise in October retail inflation added to caution. The market is also tracking fresh corporate developments, global technology disruption and escalating risks to energy shipments in West Asia.
1. Sensex and Nifty slip as profit booking hits financial stocks
As of 1:00 PM IST, the Sensex was at 81,456.81, down 454.20 points or 0.55%, while the Nifty 50 stood at 25,114.55, lower by 0.73%. Both indices traded near the day’s lows, with banking, realty and financial shares weighing.
Private banks and financial services shares were under pressure, and Shriram Finance was among the notable laggards. Nifty Realty fell about 1% as Phoenix Mills and DLF weighed. Chemicals, auto, cement, oil and gas, and PSU banking stocks also traded lower.
InterGlobe Aviation, Trent, BEL, Bajaj Finserv, M&M and HDFC Bank weighed on the Sensex, while HCL Tech, Hindustan Unilever, Tech Mahindra and Sun Pharma were among the gainers. The Nifty Midcap index fell 0.63% and the Nifty Smallcap index fell 0.43%.
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2. October retail inflation rises to 6.09%, crosses RBI’s upper limit
India’s retail inflation climbed to 6.09% in October, compared with 5.54% in September, reaching a two-year high and moving above the RBI’s 6% upper tolerance limit. Food inflation accelerated to 8.94%, putting household food costs at the centre of the latest price pressure.
The increase was higher than economists had expected and raises questions about the inflation outlook. Several economists now expect the Reserve Bank of India to consider a 25-basis-point repo rate increase at its December 4 policy meeting. The inflation reading could also influence bond yields, banking shares and interest-rate-sensitive sectors.
3. Crude remains near $95 as West Asia shipping risks intensify
Brent crude was around $95.40 per barrel, easing slightly but remaining elevated after Thursday’s sharp rise. Attacks on Saudi energy infrastructure and reports of further incidents involving tankers near the Strait of Hormuz have kept supply concerns in focus.
Yemen’s Houthi movement claimed attacks on Saudi oil facilities and pipeline infrastructure, while Saudi forces reported intercepting drones. Separately, Iran said four tankers had been hit by explosions in the Strait of Hormuz, although those claims have not been independently verified. The UK Maritime Trade Operations agency has reported separate vessel incidents in the region.
For India, continued disruption to shipping routes could increase import costs, complicate energy supplies and add pressure to the rupee and inflation outlook.
4. Wall Street closes lower as technology shares face pressure
US equities ended Thursday lower, with the S&P 500 declining 0.35% and the Nasdaq losing 0.39%. Weakness in technology shares, including Nvidia, weighed on sentiment after the recent semiconductor-led rally.
Asian markets were mixed on Friday. Hong Kong and South Korea traded lower, while Japan and Shanghai were higher. The uneven regional performance offers little clear direction for Indian equities.
5. Microsoft outage continues to disrupt Outlook, Teams and AI services
A widespread Microsoft 365 outage continued into Friday, affecting Outlook, Teams, Copilot and other connected services across several countries. The disruption began on Thursday and has affected access to email, calendars and workplace applications.
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Microsoft said its initial recovery measures had not worked as expected and that engineering teams were exploring alternative ways to restore service. The company attributed the disruption to infrastructure and server-capacity problems, with no indication of a cyberattack. The incident highlights the operational risks faced by businesses that depend heavily on cloud-based workplace systems.
6. Godrej Capital secures ₹2,500 crore investment from Temasek
Temasek will invest ₹2,500 crore in Godrej Capital, the financial services arm of Godrej Industries, at a valuation of up to ₹28,000 crore. Godrej Industries Group will retain approximately 80% ownership following the transaction.
The investment is intended to support the lender’s expansion and its ambition to grow assets under management. The deal is a significant capital commitment to India’s non-banking financial services sector.
7. TruAlt Bioenergy receives ethanol supply allocation worth ₹1,715 crore
TruAlt Bioenergy has received an allocation to supply 27.48 crore litres of ethanol to public-sector oil marketing companies for the 2026-27 ethanol supply year. The allocation is valued at approximately ₹1,715 crore, excluding freight and applicable taxes.
Also Read: Pre-Market Outlook, November 12, 2026: GIFT Nifty, FII Buying and Global Cues
The supply arrangement involves BPCL, HPCL, IOCL and MRPL. The allocation provides visibility for the company’s ethanol business and reflects continued demand under India’s ethanol-blending programme.
8. Dynacons Systems secures first international order from Dominica
Dynacons Systems and Solutions has secured its first international order, valued at US$6.83 million, from the Caribbean Digital Transformation Project Unit in the Commonwealth of Dominica.
The contract marks an overseas expansion milestone for the IT services company. Investors will watch the scope of work, execution schedule and the company’s ability to build further business in international markets.
9. Gulshan Polyols receives ethanol allocation worth ₹1,304.90 crore
Gulshan Polyols has been allocated 1,96,886 kilolitres of ethanol for supply to oil marketing companies during the 2026-27 supply year. The allocation is valued at approximately ₹1,304.90 crore, with the company also expecting additional revenue from associated by-products.
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The development adds to activity in the domestic ethanol supply chain and brings another listed producer into focus amid the government’s continuing push for fuel blending.
10. India International Trade Fair opens at Bharat Mandapam
The 45th India International Trade Fair is being inaugurated in New Delhi on Friday. The event will bring together more than 3,500 exhibitors across 17 halls, with participation from 32 states and Union Territories and 11 countries.
The fair will run from November 14 to 27, with its early days focused on business visitors and B2B engagement. Around 600 start-ups are also expected to showcase products and services, making the event a platform for trade connections, small businesses and new ventures.
11. Foreign investors continue buying as rupee gains
Foreign institutional investors remained net buyers on Thursday, purchasing equities worth ₹7,830.60 crore. The continued inflows are providing some support to domestic sentiment, although they have not prevented Friday’s profit booking.
The rupee strengthened by around 7 paise against the US dollar, offering a modest cushion amid elevated crude prices. Investors will watch whether foreign buying continues and whether currency stability can help limit pressure on financial markets.
Market outlook for the second half
The market’s early recovery suggests that buyers are attempting to defend lower levels, but financial stocks remain a key source of weakness. The October inflation surprise has added a fresh concern for investors, particularly with expectations of a possible RBI rate increase returning to the discussion.
Crude oil and West Asia developments remain important external risks. For the rest of Friday’s session, investors will watch banking stocks, institutional flows, the rupee and whether the Nifty can recover from its early decline. A broader recovery will require participation beyond a handful of defensive stocks.
Disclaimer: This article is for informational and educational purposes only. It does not constitute investment advice or a recommendation to buy or sell any securities. Onetrader is not a SEBI-registered investment adviser or research analyst. Investors should conduct their own research or consult a qualified financial adviser before making investment decisions.
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