The domestic equity benchmarks traded with substantial gains in early trade. The Nifty traded above the 26,000 level. Barring the Nifty consumer durables index, all other sectoral indices on the NSE traded in the green, with the IT, FMCG and private bank indices gaining the most.

At 09:30 IST, the barometer index, the S&P BSE Sensex, jumped 643.91 points or 0.75% to 85,071.08. The Nifty 50 index surged 172.65 points or 0.65% to 26,041.25.

In the broader market, the S&P BSE Mid-Cap index rose 0.08% and the S&P BSE Small-Cap index shed 0.01%.

The market breadth was positive. On the BSE, 1,848 shares rose and 1,304 shares fell. A total of 207 shares were unchanged.

Foreign portfolio investors (FPIs) bought shares worth Rs 96.72 crore, while domestic institutional investors (DIIs) were net sellers to the tune of Rs 607.01 crore in the Indian equity market on 21 October 2025, provisional data showed.

Indian Economy:

The infrastructure output in India rose 3% from the previous year in September of 2025, slowing from the upwardly revised 6.5% increase in August, which was the sharpest pace of growth in over one year.

Production fell for coal, crude oil, natural gas, and refinery products, as the US continued to pressure India to halt the intake of Russian crude energy commodities, which pressured domestic consumption and export demand for refineries and processers.

In turn, electric power output also slowed. Still, construction inputs were more robust, with cement output holding loosely unchanged and steel production accelerating.

Stocks in Spotlight:

Manali Petrochemicals (MPL) added 1.11%. The company announced that its wholly-owned subsidiary, AMCHEM Speciality Chemicals has entered into a share purchase agreement with Italy-based Coim S.p.A. for the sale of its entire stake in Notedome, a UK-based company.

Dr. Reddy's Laboratories rose 0.73%. The company said it has received an establishment inspection report (EIR) from the US Food and Drug Administration (USFDA) for its manufacturing facility located in Andhra Pradesh.

LTIMindtree gained 0.60%. The company announced that Nachiket Deshpande, whole-time director & president of the company, has tendered his resignation with effective from 31 October 2025.

Numbers to Track:

The yield on India's 10-year benchmark federal paper added 0.08% to 6.513 from the previous close of 6.507.

In the foreign exchange market, the rupee edged higher against the dollar. The partially convertible rupee was hovering at 87.8975 compared with its close of 87.9300 during the previous trading session.

MCX Gold futures for 5 December 2025 settlement gained 0.79% to Rs 122,821.

The US Dollar Index (DXY), which tracks the greenback's value against a basket of currencies, was up 0.18% to 98.85.

The United States 10-year bond yield shed 0.18% to 3.945.

In the commodities market, Brent crude for December 2025 settlement jumped $1.69 or 2.70% to $64.28 a barrel.

Global Markets:

Asia-Pacific markets declined on Thursday, mirroring losses on Wall Street as renewed concerns over U.S.-China trade tensions weighed on sentiment.

Trade fears resurfaced after reports on Wednesday suggested that the Trump administration is considering new export restrictions on products made with U.S. software and technology destined for China.

According to a U.S. official and three individuals briefed by authorities, the potential measures could cover a broad range of goods ' from laptops to jet engines ' though the plan remains under discussion and may not ultimately be implemented.

U.S. equity futures edged lower in early Asian trading after all three major U.S. benchmarks fell overnight, pressured by disappointing earnings from companies such as Texas Instruments and Netflix.

The Dow Jones Industrial Average slipped 334.33 points (0.71%) to 46,590.41, while the S&P 500 declined 0.53% to 6,699.40. The Nasdaq Composite dropped 0.93% to 22,740.40.

At their session lows, the Dow had fallen over 400 points, and the S&P 500 and Nasdaq were down 1.2% and 1.9%, respectively.

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