📰 India Business Brief: Top Headlines for November 09, 2026

Business Standard

• GIFT Nifty Signals Positive Start for Samvat 2083: Domestic equity indices are poised for a firm opening following Sunday's special one-hour Muhurat Trading session, which saw the Sensex settle lower by 28.62 points at 80,999.40 and the Nifty50 slip 43.95 points to 24,986.40. GIFT Nifty futures traded above the 25,090 mark, reflecting early risk-on sentiment and mirroring rebounds across broader Asia-Pacific bourses.
• Crude Oil Slumps on Geopolitical Negotiation Hopes: Brent crude futures extended losses to trade around $97.37 per barrel on the ICE exchange after remarks from Washington indicated a diminished probability of near-term military escalations in West Asia, easing cost pressures for net oil-importing economies like India.
• Key Stocks in Focus: Shares of Bharat Heavy Electricals Limited (BHEL) are in the spotlight after securing an order valued between ₹600 crore and ₹900 crore from Power Grid Corporation for synchronous condenser units in Rajasthan. Additionally, Mahindra & Mahindra (M&M) approved an investment of up to ₹1,450 crore in the proposed rights issue of subsidiary SML Mahindra, while Prestige Estates and Tata Steel remain actively tracked.

Economic Times

• Oil Extends Downward Trajectory After Weekly Plunge: Crude prices slipped further at the start of the week, with Brent down over 1% to $97.30 a barrel and WTI hovering near $90.29. Energy traders are pricing in diplomatic engagement prospects following comments from US leadership that fresh strikes against Iran remain unlikely as long as talks progress.
• Bullion Consolidates Ahead of Global Inflation Data: Gold prices traded near the critical $4,000-an-ounce threshold as precious metals grapple with shifting macroeconomic cues. Analysts note that bullion may face short-term consolidation as investors eye inflation prints from India, China, the US, Germany, and Japan, alongside speeches by Federal Reserve officials.
• Festive Demand Resilience: Trade bodies and retailers reported robust consumer engagement over Dhanteras and Diwali weekend sales, supported by seasonal purchasing in electronics, automobiles, and gold, providing tailwinds for domestic consumer-facing sectors.

Mint

• Muhurat Trading Snaps Historical Winning Streak: Sunday's Diwali Muhurat Trading session marked the first instance in nine years—since 2017—that the Sensex and Nifty closed in negative territory on the festive occasion, halting a multi-session winning streak despite strong foreign inflows seen in preceding sessions.
• Earnings Watch & Corporate Actions: Tata Steel announced a 16.2% year-on-year increase in consolidated net profit to ₹3,699.59 crore for Q2. Meanwhile, Whirlpool of India and Olectra Greentech are scheduled to announce their quarterly scorecards today. Over 75 listed companies, including Dabur, HUL, ONGC, and RITES, have set record dates this week for dividends and bonus issuances.
• Bank Closures in Multiple Cities: Banking operations across several centers—including Bhopal, Chandigarh, Jaipur, Lucknow, and Kanpur—are observing holidays on Monday for Diwali, Govardhan Pooja, and Vishwakarma Day under the RBI holiday schedule, alongside a local public holiday for government establishments in Mumbai.