Mumbai, Oct 24: Indian stock markets opened lower on Friday amid reports that the United States may launch a fresh investigation into China over their 2020 trade deal.

Rising oil prices, driven by new US sanctions against Russia, also weighed on investor sentiment.

At the opening bell, the Sensex was down 113 points, or 0.13 per cent, at 84,443, while the Nifty slipped 27 points, or 0.10 per cent, to 25,866.

Commenting on Nifty’s technical outlook, analysts said, “The index continues to exhibit a sideways to bullish bias, holding firmly above key support levels at 25,700 and 25,750.”

“Immediate resistance is placed at 25,950, with further upside targets at 26,000 and 26,100. The overall trend remains bullish, provided the index sustains above 25,780 on a closing basis,” they added.

Heavyweights such as Hindustan Unilever, Kotak Bank, Axis Bank, Titan, Power Grid, ITC, NTPC, Tech Mahindra, Maruti Suzuki, and Axis Bank were among the top laggards, losing up to 3.5 per cent.

On the other hand, ICICI Bank, Tata Steel, Bharat Electronics (BEL), Mahindra & Mahindra, Bharti Airtel, HDFC Bank, and State Bank of India were trading in the green, helping limit the overall losses.

In the broader markets, buying activity continued as the Nifty MidCap index inched up 0.05 per cent, and the Nifty SmallCap index added 0.09 per cent.

Sector-wise, metal stocks were the top performers, with the Nifty Metal index rising 1 per cent, followed by modest gains in the Realty and Financial Services indices.

However, FMCG stocks faced pressure, with the Nifty FMCG index falling 1.4 per cent, making it the biggest sectoral loser of the day.

“Given the current setup of heightened volatility and mixed market signals, traders are advised to adopt a cautious “buy-on-dips” approach, especially when using leverage,” market analysts said.

Booking partial profits during rallies and maintaining tight trailing stop-losses will be key to managing risk effectively, as per the analysts.

Mumbai, Oct 23: Colgate-Palmolive (India) Limited on Thursday reported a 17 per cent drop in its net profit for the second quarter of the current financial year (Q2 FY26).

The company’s profit stood at Rs 327.50 crore for the quarter ended September 2025, compared to Rs 395.05 crore in the same period last financial year (Q2 FY25), according to its stock exchange filing.

Revenue also fell 6.15 per cent year-on-year (YoY) to Rs 1,519.50 crore, down from Rs 1,619.11 crore in the previous fiscal.

Operating income or EBITDA declined 6 per cent to Rs 465.43 crore, while the EBITDA margin was almost unchanged at 30.6 per cent, compared to 30.7 per cent last financial year.

Prabha Narasimhan, Managing Director and CEO of Colgate-Palmolive India, said the quarter’s performance reflected a temporary impact from disruptions among distributors and retailers due to the GST rate revision.

She added that the company has worked with its partners to ensure consumers benefit from the lower prices that took effect after the tax change.

“Despite the short-term challenges, we remain focused on our long-term strategic goals and will continue to invest in our brands,” Narasimhan said.

Alongside the results, the company announced a first interim dividend of Rs 24 per share for the financial year 2025–26, amounting to a total payout of Rs 652.8 crore.

The record date for the dividend has been set as November 3, and the payment will be made on or before November 19, according to the company’s exchange filing.

Colgate-Palmolive (India)’s quarterly results were released after market hours. On Thursday, its shares closed 1.16 per cent higher at Rs 2,286.90 on the NSE.

However, the stock has fallen 31.35 per cent over the past year and 14.69 per cent so far in 2025.

New Delhi, Oct 23: Finance Minister Nirmala Sitharaman highlighted on Thursday that the unified payments interface (UPI) platform processed 754 million payments worth Rs 1.02 lakh crore on October 18, marking the highest single-day tally, as consumer demand surged due to the GST rate cuts.

During the three-day period between Dhanteras and Diwali, the average UPI volumes stood at 736.9 million — higher than 647.46 million in the corresponding period a month ago, the Finance Minister said.

“It has been a cracker of a Diwali for retailers this year as GST rate cuts have boosted consumption, enabling the middle class to add more items to their shopping bags this festive season,” she observed.

From lab-grown diamonds to casual wear and products to adorn homes, both mass and premium segments of the market picked up, Sitharaman remarked.

She pointed out that the roll-out of Goods and Services Tax (GST) 2.0 has injected fresh momentum into India’s growth story by enhancing household purchasing power, easing business operations, and simplifying tax administration.

“By rationalising slabs and lowering rates across a range of consumer goods, the reform has delivered tangible savings for households, freeing up disposable income and helping stimulate demand,” the Finance Minister added.

According to the Confederation of All India Traders (CAIT), Diwali sales soared to an all-time high of Rs 6.05 lakh this year.

This marks a 25 per cent jump over the 2024 festive sales of Rs 4.25 lakh crore from the Navratri to Diwali period and is the highest-ever sales in India’s trading history, according to Research and Trade Development Society, the research wing of CAIT.

Mainline retail accounted for nearly 85 per cent of total sales, indicating a strong revival of the brick-and-mortar market, the survey showed.

The reduction in GST rates across key consumer and retail categories such as confectionery, home decor, footwear, and ready-made garments, consumer durables and daily use items significantly improved price competitiveness and increased purchase momentum.

About 72 per cent of surveyed traders reported higher sales volumes directly attributable to reduced GST, according to the survey.

Consumers expressed greater satisfaction with stable prices amid festive demand, aiding consumption continuity post-Diwali.

The non-corporate and non-agricultural sector has emerged as a central pillar of India’s growth, driven by 9 crore small businesses, crores of small manufacturing units and the largest base of consumers.