Indian equity markets witnessed declines in morning trade, with IT, TECK, and banking stocks weighing on performance ahead of the upcoming earnings season. Investor sentiment was cautious following an ICRA report projecting a slowdown in bank credit growth to 9.7-10.3% by FY26 due to high credit-to-deposit ratios and changes in the liquidity coverage ratio framework. The credit growth estimate for FY25 was also revised downward to 10.5-11% from the earlier 11.6-12.5%.

Exporters faced liquidity challenges as noted by CII's Sanjay Budhia, citing high interest rates and declining export finance as key issues impacting competitiveness. However, India's textile and apparel exports, including handicrafts, recorded a 7% rise in the April-October period, reaching $21.35 billion compared to $20 billion in the same period last year. The Ready-Made Garments segment led with a 41% share, followed by cotton textiles at 33%.

Key Indices:

• BSE Sensex: Trading at 79,422.27, down 521.44 points (0.65%). Advancing stocks: 12, Declining: 18.
• CNX Nifty: At 24,047.00, down 141.65 points (0.59%). Advancing stocks: 18, Declining: 32.

Sectoral and Stock Highlights:

• Gainers: Titan (+1.37%), Tata Motors (+1.24%), ONGC (+2.07% on Nifty).
• Losers: Tech Mahindra (-1.65%), HDFC Bank (-1.57%), Hero MotoCorp (-2.30% on Nifty).
• Sectoral Gains: Consumer Durables (+0.83%), Oil & Gas (+0.64%).
• Sectoral Losses: IT (-0.96%), TECK (-0.86%).

On the global front, Asian markets were mostly positive, buoyed by material and energy stocks on rising metal and crude oil prices. However, Shanghai Composite and Straits Times posted declines.

Textile Trade Insights:

India's imports of textiles and apparel, including handicrafts, fell 1% during April-October FY25, amounting to $5.43 billion. The man-made textiles segment accounted for the largest share (34%) of imports. India's textile and apparel exports made up 8.21% of the country's total exports in FY24, with the nation ranked as the sixth-largest exporter globally.