Mumbai, Nov 7: The Indian benchmark indices opened with notable losses on Friday, amid weak global cues and FII selling.

As of 9.25 am, Sensex was down 532 points, or 0.64 per cent, at 82,778 and Nifty dipped 162 points, or 0.64 per cent, to 25,347.

The broadcap indices outperformed benchmarks in terms of losses, with the Nifty Midcap 100 down 0.89 per cent and the Nifty Smallcap 100 losing 1.26 per cent.

SBI Life Insurance, Trent, Apollo Hospitals, ICICI Bank were among the major gainers in the Nifty Pack, while losers included TCS, Titan Company, Tata Consumer and Shriram Finance.

Nifty Consumer Durables was the biggest sectoral loser, down 1.38 per cent. All the sectoral indices were trading in the red, with IT, auto and realty slipping over 1 per cent.

Analysts said that huge shorting by FIIs are overpowering the DII and investor buying in the market. The success of the FII strategy of sustained selling in India and moving money to cheaper markets has emboldened them to continue the strategy and continue shorting the market, they added.

“Short covering can lead to trend reversal but there are no immediate triggers for that in sight. FII selling has reduced the prices of fairly valued large caps particularly in banking and pharmaceuticals where growth prospects continue to be bright,” said Dr. VK Vijayakumar, Chief Investment Strategist, Geojit Investments Limited.

India Inc’s second-quarter FY26 earnings, however, showed a stronger-than-anticipated performance with a 14 percent year-on-year earnings rise by companies in key sectors, especially midcaps.

The US markets ended in the red zone overnight, as Nasdaq dipped 1.9 per cent, the S&P 500 declined 1.12 per cent, and the Dow lost 0.84 per cent.

Asian markets also slipped into losses tracking the selloff in US stocks amid concerns over expensive valuations of artificial intelligence companies.

Most of the Asian markets were trading in red during the morning session. While China’s Shanghai index lost 0.17 per cent, and Shenzhen dipped 0.17 per cent, Japan’s Nikkei lost 2.16 per cent, while Hong Kong’s Hang Seng Index lost 0.98 per cent. South Korea’s Kospi dipped 2.57 per cent.

On the Thursday, foreign institutional investors (FIIs) sold equities worth Rs 3,263 crore, while domestic institutional investors (DIIs) were net buyers of equities worth Rs 5,284 crore.

Mumbai, Nov 6: India’s solar photovoltaic module manufacturing capacity is projected to increase to over 165 GW by March 2027 — up from approximately 109 GW currently, a report said on Thursday.

The strong government support in the form of the approved list of models and manufacturers (ALMM), basic customs duty on imported cells and modules, and the production-linked incentive scheme drove the growth, the report from ratings agency ICRA said.

The report forecasts annual solar capacity installations at 45–50 gigawatt direct current (GWdc), while annual module production is expected to reach 60–65 GW, and this discrepancy may lead to a supply surplus, potentially prompting consolidation among smaller and pure-play module players.

The ALMM List-II for cells, effective June 2026, has encouraged OEMs to increase cell manufacturing to approximately 100 GW by December 2027, up from the current 17.9 GW listed under ALMM, the report noted.

Further, the recent imposition of US tariffs have redirected the supply from the export market to the domestic market, it noted.

However, the report anticipated that the vertically integrated manufacturers will benefit over the long term due to greater control over the supply chain.

Ankit Jain, Vice President and Co-Group Head-Corporate Ratings, ICRA, said that operating profitability for domestic solar OEMs at 25 per cent in FY25 is likely to moderate due to competitive pressures and overcapacity build-up.

As the ALMM requirement for solar cells is effective from June 2026, a significant scale-up in the cell manufacturing capacity along with its stabilisation in a timely manner remains critical in the near term, he added.

Dependence on China for wafers, ingots poses significant risks for the industry’s transition, given China’s dominance in global supply and the potential geopolitical restrictions for backward integration, the report noted.

New Delhi, Nov 6: The Ministry of Information and Broadcasting has announced the opening of bookings for WaveX booths, the exclusive startup showcase zone in Waves Bazaar at the International Film Festival of India (IFFI), Goa 2025, according to an official statement issued on Thursday.

The initiative aims to provide a platform for emerging startups in the AVGC-XR (Animation, Visual Effects, Gaming, Comics, and Extended Reality) and entertainment sectors to connect with global industry leaders, investors, and production studios.

Scheduled from November 20-24 2025, ‘WAVES Bazar’ will be located in the vicinity of Film Bazaar, the prime networking hub of IFFI known for its dynamic participation from filmmakers, producers, and media professionals from across the world.

Each booth will be available at a nominal cost of Rs. 30,000 per stall on sharing basis. The facilities being provided to participating startups include two delegate passes, lunch and high tea, evening networking opportunity and direct visibility among global film, media and tech professionals, the statement said.

“Interested startups can register at wavex.wavesbazaar.com. Limited stalls are available, and allocation will be on a first-come, first-served basis,” the statement added.

WaveX is a national startup accelerator and incubation initiative of the Ministry of Information and Broadcasting dedicated to nurturing innovation and entrepreneurship in the AVGC-XR and media-tech ecosystem.

Through collaborations with leading academic, industry, and incubation networks, WaveX empowers creators and startups to scale their ventures, contributing to India’s growing creative economy.

The International Film Festival of India (IFFI), founded in 1952, is one of Asia’s most significant film festivals, celebrating excellence in world cinema and serving as a meeting ground for filmmakers, artists, and cine enthusiasts. Held annually in Goa, IFFI attracts participation from across the global film fraternity and acts as a catalyst for creative collaboration and opportunities.

The 56th edition of the International Film Festival of India (IFFI) is set to take place from 20th to 28th November 2025 in Panaji, Goa, the statement added.