Business
Stock Market Updates: Sensex Down 300 Points, Nifty Below 25,850; HUL, HDFC Bank Top Drags
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Stock Market Today: Indian stock markets started Friday’s session on a negative note
Sensex Today
Sensex Today: Indian benchmark indices traded lower on Friday, weighed down by reports that the US is considering a fresh probe against China regarding their 2020 trade deal. Rising crude oil prices, driven by US sanctions on Russia, further dented market sentiment.
By 12 PM, the Sensex was at 84,354.58, down 201.82 points or 0.24%, while the Nifty stood at 25,823.90, down 67.5 points or 0.26%.
On the Sensex, Hindustan Unilever (HUL), Kotak Bank, Axis Bank, Titan, Power Grid, ITC, Adani Ports, NTPC, Tech Mahindra, Eternal, and Maruti Suzuki were the top losers, falling up to 3.5%. On the upside, ICICI Bank, Tata Steel, Bharat Electronics (BEL), M&M, Bharti Airtel, HDFC Bank, and SBI led the gains.
Broader markets were muted, with the Nifty Midcap 100 down 0.05% and the Nifty Smallcap 100 sliding 0.18%.
Sector-wise, the Nifty Metal index led the rally with 1% gains, followed by the Nifty Realty index, up 0.5%. The Nifty FMCG index lagged, declining 1.16%.
Global Cues
Across Asia, markets traded higher after the White House confirmed that US President Donald Trump and Chinese President Xi Jinping will hold discussions next week during Trump’s Asia visit. Japan’s Nikkei 225 advanced 1.1%, Hong Kong’s Hang Seng rose 0.95%, and South Korea’s KOSPI gained 1.29%.
Overnight, US markets closed higher, led by gains in technology stocks following upbeat corporate earnings. The S&P 500 climbed 0.6%, the Nasdaq Composite surged 0.9%, and the Dow Jones Industrial Average added 0.3%.
Aparna Deb is a Subeditor and writes for the business vertical of News18.com. She has a nose for news that matters. She is inquisitive and curious about things. Among other things, financial markets, economy, a…Read More
Aparna Deb is a Subeditor and writes for the business vertical of News18.com. She has a nose for news that matters. She is inquisitive and curious about things. Among other things, financial markets, economy, a… Read More
October 24, 2025, 08:53 IST
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Business
Lesson from China’s export restrictions: India eyes fertilizer plant project in Russia; aim to protect against supply shocks – The Times of India
Indian fertiliser companies are preparing to set up a urea manufacturing facility in Russia, a move that is likely to be announced during Russian President Vladimir Putin’s visit to India in December. This would be India’s first fertiliser venture in Russia.The plant will use Russia’s abundant ammonia and natural gas reserves, ensuring a stable supply of this key agricultural input and reducing India’s reliance on volatile global prices, according to a report by ET.State-owned Rashtriya Chemicals and Fertilisers (RCF) and National Fertilisers Ltd (NFL), along with government-backed Indian Potash Ltd (IPL), have signed a non-disclosure agreement (NDA) with Russian partners to begin planning the project, the report said.The plant is expected to produce over 2 million tonnes of urea annually. Negotiations are ongoing on land allocation, natural gas, ammonia pricing and transportation logistics.India depends largely on imports of raw materials like ammonia and natural gas for its domestic fertilizer production.The Russian facility is expected to shield India from future price shocks and supply disruptions. It will also strengthen economic ties between the two countries, which already collaborate in energy, defence and agribusiness.The project comes after India faced an acute fertiliser shortage during this year’s kharif (monsoon) season, when China temporarily halted exports of urea and other nutrients.The disruption forced India to seek supplies from other markets at higher costs, raising concerns about food production.Demand for fertilizers has gone up due to well-distributed monsoon rains. Consequently, nutrient-rich crops like maize are being grown by farmers.During the winter season, the need for urea increases even further for rabi crops such as wheat.In order to keep fertilisers accessible and affordable for farmers, they are regulated and subsidised in India, contributing to food security. The burden of government subsidies rises as global prices rise.The initial budget of Rs 1.68 lakh crore was increased to Rs 1.92 lakh crore for FY25 for the Department of Fertilisers. India’s domestic urea production hit a record 31.4 million tonnes in FY24.Despite these efforts, India still relies heavily on imports for raw materials and is the second-largest user as well as the third-largest producer of fertilizers globally.
Business
Strike dates set in union’s pay dispute with defence company Leonardo
Workers at a leading defence and aerospace company are set to go on strike in November in a dispute over pay.
Unite says more than 3000 workers at Leonardo UK’s facilities in Scotland and England will walk out after the company refused to improve its pay offer.
The company is involved in a number of defence projects, with its site in Edinburgh producing advanced radars for military aircraft.
Workers at Leonardo’s Edinburgh and Newcastle sites will strike between November 5 and 6, then again between November 10 and 18.
At the Yeovil, Luton and Basildon sites, workers will strike between November 5 and 6, then again between November 12 and 13.
Union officials said staff were refused a better deal after declining the initial offer of 3.2%, which the union said represents a real-terms pay cut.
Unite general secretary Sharon Graham said: “Our members are highly skilled and work on critical defence and aerospace systems, yet are being short-changed by a company making billions.
“Leonardo has had ample opportunity to do the right thing and make a decent offer that our members could have accepted. Instead, they have refused and will now see the anger of our members on the picket line outside their factories.
“This is a dispute entirely of their own making and our members will have the full support of Unite in their fight for decent pay.”
Leonardo UK has been approached for comment.
Business
‘India won’t sign any trade deal with a gun to head’: Piyush Goyal’s clear message amid talks with US, EU; ‘will reject restrictive conditions’ – The Times of India
At a time when India is engaged with the US and European Union for trade talks, Commerce Minister Piyush Goyal has made it clear that no trade deal will be signed in a hurry. “We are in active dialogue with the EU. We are talking to the US, but we do not do deals in a hurry and we do not do deals with deadlines or with a gun to our head,” Goyal said at the Berlin Global Dialogue according to a Reuters report. Goyal said that India will not rush into any trade deals. He also said that any conditions that may be set by partner countries that restrict India’s trading options will be rejected.
The EU-India free trade agreement discussions continue, but there are unresolved matters concerning market accessibility, environmental protocols, and origin regulations. These negotiations have been ongoing for an extended period.Also Read | Trump’s sanctions on Russian oil: How Reliance, Nayara Energy earnings will be hit – explainedAlongside these talks, India is also actively pursuing trade deal discussions with several countries, including the United StatesGoyal’s comments come at a time when India is facing pressure from the Donald Trump administration and the European Union for its continued purchases of Russian crude oil. The US has imposed 50% tariffs on Indian exports to America, 25% of which are penal duties for India’s crude oil trade with Russia.The European Union, United Kingdom and United States are urging New Delhi to reduce its imports of Russian crude at discounted rates, which Western countries allege supports Moscow’s military operations in Ukraine.India has shown openness to procure US energy and diversify its crude basket, but has been firm on its right to decide the source of crude oil purchases based on the interests of Indian consumers.US President Donald Trump has claimed that PM Narendra Modi has committed to reducing Russian crude oil trade, but no official word on the same has come from India’s side. Meanwhile, Trump has this week imposed sanctions on two major Russian crude suppliers – Rosneft and Lukoil – a move that may eventually force China and India to reduce their procurement of Russian oil.Also Read | No oil from Russia soon? Trump sanctions to hit India’s crude imports; ‘all but impossible for flows to continue’
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