Bourses erase all gains in late afternoon session

Indian equity markets wiped out all their gains and were trading in red in late afternoon session. Traders were cautious ahead of key macroeconomic data i.e. Index of Industrial Production (IIP) and Consumer price index (CPI), which going to be out on November 12. Investors were concerned as private report stated that India’s retail inflation, based on the Consumer Price Index (CPI), likely rose to a 14-month high of 5.9% in October primarily due to a sharp rise in the prices of vegetables and edible oils. On the global front, Asian markets were trading mixed as Beijing's latest stimulus fell short of investor expectations and weak inflation data dampened hopes for a significant recovery in the world's second largest economy. European markets were trading higher as investors digested upbeat earnings and looked ahead to key inflation readings in Germany and the United States due later in the week.

The BSE Sensex is currently trading at 79430.25, down by 56.07 points or 0.07% after trading in a range of 79001.34 and 80102.14. There were 13 stocks advancing against 17 stocks declining on the index.

The broader indices were trading in red; the BSE Mid cap index declined 0.67%, while Small cap index was down by 1.00%.

The top gaining sectoral indices on the BSE were IT up by 1.00%, TECK up by 0.82%, Power up by 0.47%, Bankex up by 0.45% and PSU was up by 0.39%, while Basic Materials down by 1.29%, Metal down by 1.04%, FMCG down by 1.04%, Healthcare down by 1.04% and Energy was down by 0.73% were the top losing indices on BSE.

The top gainers on the Sensex were Power Grid up by 4.28%, Infosys up by 1.57%, HCL Tech up by 1.38%, TCS up by 1.29% and Tech Mahindra up by 1.02%. On the flip side, Asian Paints down by 8.59%, Mahindra & Mahindra down by 2.19%, Tata Steel down by 1.97%, Bajaj Finance down by 1.84% and JSW Steel down by 1.80% were the top losers.

Meanwhile, the latest QS World University Rankings: Asia 2025 edition has highlighted India's impressive upward trajectory in higher education across the continent. It showed that India boasts two institutions within the top 50 and seven in the top 100 of the QS Asia Rankings 2025, with the Indian Institute of Technology Delhi (IITD) leading at 44th place. 

The edition also stated that the University of Petroleum and Energy Studies (UPES) achieved the most significant improvement among Indian institutions, climbing 70 spots to 148th, driven by notable advancements in nine of the 11 ranking metrics, especially in International Research Network, Citations per Paper, and Papers per Faculty. India’s strongest average indicator scores are in Papers per Faculty and Staff with PhD.

The QS World University Rankings: Asia 2025 reflects the dynamic landscape of higher education across the continent, spotlighting the top institutions excelling in academic and research excellence, innovation, and internationalization. This year’s rankings emphasize the growing competition among Asian universities and showcase the region's commitment to advancing global educational standards.

This ranking assesses 984 institutions covering 25 countries in Eastern, Southern, South-Eastern and Central Asia. The QS World University Rankings: Asia 2025 allows institutions and students to make direct comparisons on institutional performance within their region, with a more granular approach to metrics. 

The Indian education sector has made impressive strides, both globally and within Asia, as evidenced by the QS World University Rankings 2025. India earlier saw the inclusion of 46 institutions in the 2025 edition compared to just 11 in 2015 edition showcasing a 318 per cent increase in last 10 years among G20 nations. This growth underscores India’s commitment to fostering academic excellence and enhancing global competitiveness.

The CNX Nifty is currently trading at 24107.55, down by 40.65 points or 0.17% after trading in a range of 24004.60 and 24336.80. There were 19 stocks advancing against 31 stocks declining on the index.

The top gainers on Nifty were Power Grid up by 4.14%, Trent up by 3.45%, Infosys up by 1.56%, HCL Tech up by 1.35% and TCS up by 1.16%. On the flip side, Asian Paints down by 8.60%, Britannia down by 5.46%, Apollo Hospital down by 3.16%, Mahindra & Mahindra down by 2.45% and ONGC down by 2.15% were the top losers.

Asian markets were trading mixed; Hang Seng declined 301.26 points or 1.47% to 20,426.93, KOSPI dropped 29.49 points or 1.16% to 2,531.66, Taiwan Weighted lost 24.25 points or 0.1% to 23,529.64 and Jakarta Composite was down by 19.12 points or 0.26% to 7,268.07. On the flip side, Straits Times rose 10.54 points or 0.28% to 3,734.91, Shanghai Composite strengthened 17.77 points or 0.51% to 3,470.07 and Nikkei 225 was up by 32.95 points or 0.08% to 39,533.32.

European markets were trading higher; UK’s FTSE 100 increased 72.51 points or 0.9% to 8,144.90, France’s CAC rose 94.15 points or 1.28% to 7,432.82 and Germany’s DAX was up by 240.97 points or 1.25% to 19,456.45.