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Indian indices linger near neutral lines during early noon deals
Nov-04-2026

In a highly volatile session, Indian equity benchmarks lingered near their neutral lines during early afternoon deals, with both Sensex and Nifty holding heads just above water, as softer oil prices eased inflation concerns and early results showcased significant gains for Democrats in the 2026 U.S. midterm elections, weighing on the U.S. dollar and Treasury yields. Traders got encouragement, as India’s services sector activity recorded the strongest pace of expansion in four months in October 2026 as demand buoyancy fuelled growth in business activity and new orders amid easing cost pressures. According to the survey report, the seasonally adjusted HSBC India Services PMI Business Activity Index rose to 55.8 in October from 55.2 in September.

Adding more optimism among market participants, Union Minister of Commerce and Industry Piyush Goyal has said that India has earned the trust of the world, with countries across almost every region keen to enter into preferential trade agreements and free trade agreements with it.

On the global front, Asian markets were trading mixed, after the services sector in China continued to expand in October, albeit at a slower pace, with a business PMI score of 50.8. That's down from 51.6 in September, although it remains well above the boom-or-bust line of 50 that separates expansion from contraction.

The BSE Sensex is currently trading at 76919.72, up by 1.87 points after trading in a range of 76604.85 and 77396.04. There were 13 stocks advancing against 17 stocks declining on the index.

The top gaining sectoral indices on the BSE were Capital Goods up by 2.42%, Realty up by 2.10%, Power up by 1.88%, Industrials up by 1.51% and Consumer Durables up by 1.27%, while IT down by 1.63% and TECK down by 1.39% were the only losing indices on BSE.

The top gainers on the Sensex were Bharat Electronics up by 3.09%, ITC up by 2.56%, Adani Ports & SEZ up by 2.24%, Bajaj Finserv up by 1.69% and Bajaj Finance up by 1.48%. On the flip side, TCS down by 2.92%, Infosys down by 2.26%, HCL Technologies down by 2.07%, Eternal down by 2.03% and Kotak Mahindra Bank down by 1.47% were the top losers.

Meanwhile, International Energy Agency (IEA), in its report tilted ‘the India Renewable Energy Market Report 2026’, has said that India's renewable power capacity has almost quadrupled over the past decade, crossing 300 gigawatts (GW) in 2026, making it the world's second-fastest-growing renewables market and the second-largest manufacturer of solar photovoltaic (PV) modules. It added that India has achieved its target of 50% non-fossil fuel-based installed power capacity in 2025, five years ahead of schedule. Highlighting the significance of the renewable power capacity expansion, it noted that the expansion is delivering measurable economic and energy security benefits. It added that renewable electricity generation has helped India avoid more than $100 billion in coal and natural gas import costs between 2011 and 2025. Cumulative savings are expected to more than double by 2030.

Going forwards, it expects India's renewable power capacity to reach around 530 GW by 2030, with solar PV accounting for more than 80% of additions. The expansion would further strengthen the country's non-fossil power capacity base, although meeting its longer-term ambitions will require continued investment in supporting infrastructure. It also highlighted that India's renewables expansion is delivering major benefits for its energy security at a time of heightened uncertainty in global energy markets. It noted that India's experience shows how consistent policies can help drive down renewable energy costs and attract investment, offering valuable lessons for other emerging economies. 

In spite of strong expansion, it noted that the next phase of India's renewable energy transition will depend increasingly on its ability to integrate intermittent renewable generation into the electricity system. It has identified inadequate grid infrastructure, limited energy storage and insufficient system flexibility, alongside the financial health of electricity distribution utilities and project execution delays, as key challenges that could constrain deployment. Meanwhile, it said that faster investment in transmission networks, storage capacity and system flexibility, together with improvements in utility finances and fewer project delays, could accelerate renewable power capacity deployment by more than 20% during 2026-2030.

The CNX Nifty is currently trading at 23815.70, up by 4.85 points or 0.02% after trading in a range of 23696.15 and 23946.35. There were 28 stocks advancing against 22 stocks declining on the index.

The top gainers on Nifty were Adani Enterprises up by 3.44%, Bharat Electronics up by 3.38%, Max Healthcare Inst. up by 2.37%, ITC up by 2.26% and Adani Ports &Special up by 2.01%. On the flip side, Infosys down by 2.56%, TCS down by 2.56%, Coal India down by 2.21%, HCL Technologies down by 2.03% and BSE down by 1.69% were the top losers.

Asian markets were trading mixed; Jakarta Composite plunged 34.46 points or 0.7% to 4,869.83, Taiwan Weighted lost 358.63 points or 0.84% to 42,948.91, Nikkei 225 slipped 1176.86 points or 1.9% to 61,905.00 and Straits Times fell 13.3 points or 0.25% to 5,255.99, while KOSPI increased 35.01 points or 0.62% to 5,683.80, Hang Seng advanced 294.03 points or 1.25% to 23,820.00 and Shanghai Composite strengthened 69.77 points or 1.93% to 3,677.87.
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