周一，印度BSE Sensex指数收于83978.5点，几乎没有变化，因为投资者在10月份的强劲反弹后稍作休息。购买汽车股和国有银行股超过了出售IT和私人银行股。与此同时，交易员们仍在关注国内外财报季，同时也在评估包括PMI调查在内的经济数据。最终数据显示，印度10月份的制造业活动加速，强于最初的估计。在Sensex公司中，Mahindra&Mahindra表现最佳，在10月销售数据公布后上涨1.7%，紧随其后的是塔塔汽车乘用车（TMPV）。Eternal、印度国家银行、Bharti Airtel、Sun Pharma和Kotak Mahindra Bank也是主要上涨股，涨幅在0.6%至1.5%之间。在下跌方面，Maruti Suzuki跌幅最大，为3.4%。其他值得注意的下跌股包括ITC、塔塔咨询服务公司、Larsen&Toubro、巴拉特电子和Titan，跌幅在0.5%至1.4%之间。

India's BSE Sensex closed virtually unchanged at 83,978.5 on Monday, as investors took a breather after October's strong rally. Buying in auto stocks and state-owned banks outweighed selling in IT and private banking stocks. Meanwhile, traders remained attentive to the earnings season both at home and abroad, while also assessing economic data, including PMI surveys. Final data showed India’s manufacturing activity accelerated in October, coming in stronger than initial estimates. Among Sensex firms, Mahindra & Mahindra was the top performer, rising 1.7% after the October sales data, followed closely by Tata Motors Passenger Vehicles (TMPV). Eternal, State Bank of India, Bharti Airtel, Sun Pharma and Kotak Mahindra Bank were also among the major gainers, up between 0.6% and 1.5%. On the downside, Maruti Suzuki dropped the most by 3.4%. Other notable decliners included ITC, Tata Consultancy Services, Larsen & Toubro, Bharat Electronics and Titan down between 0.5% and 1.4%.

三名知情交易员告诉路透社，印度储备银行（RBI）将于周二与选定的一级交易商和银行会面，因为人们担心银行系统流动性收紧正在给政府债券市场带来压力。交易员们表示，这次会议虽然没有正式议程，但预计将重点讨论当前的市场状况。由于没有向媒体发表讲话的授权，他们拒绝透露姓名。印度储备银行周五取消了1100亿卢比（12.5亿美元）七年期政府债券的拍卖，导致基准债券收益率下降7个基点。这三位交易员都表示，央行可能对当前的收益率水平感到担忧。过去两周，银行系统流动性在盈余和赤字之间波动，影响了债券市场情绪。印度储备银行行长桑杰·马尔霍特拉上个月指出，债券收益率有下降的空间。

The Reserve Bank of India (RBI) will meet select primary dealers and banks on Tuesday, three traders aware of the development told Reuters, amid concerns that tightening liquidity in the banking system is pressuring the government bond market. The meeting, though without a formal agenda, is expected to focus on current market conditions, the traders said, declining to be named as they are not authorized to speak to the media. The RBI on Friday canceled an auction of 110 billion rupees ($1.25 billion) in seven-year government securities, triggering a seven-basis-point drop in the benchmark bond yield. All three traders said the central bank may be concerned about prevailing yield levels. Banking system liquidity has fluctuated between surplus and deficit over the past two weeks, affecting bond market sentiment. RBI Governor Sanjay Malhotra noted last month that there is room for bond yields to decline.

BSE Sensex指数几乎持平，在经历了前两天的下跌后，在周一上午的震荡中交易于83966点左右，因为石油和天然气、金融服务、金属和银行股的上涨抵消了耐用消费品、科技和汽车股的下跌。交易员在第二季度企业盈利之前仍持谨慎态度，近77家公司将公布业绩，包括Bharti Airtel和电网公司。投资者也在等待印度储备银行和银行周二举行的会议的结果，因为担心银行系统流动性收紧。在数据方面，最终数据显示，在强劲需求的支持下，印度10月份的制造业增长被上调。在个股中，Mahindra&Mahindra上涨2%，SBI上涨1.2%，IndusInd Bank上涨0.7%，而Maruti Suzuki下跌3.2%，尽管报告称7月至9月季度税后利润同比增长8%。其他早盘下跌股包括Titan和TCS，均下跌0.8%。

The BSE Sensex was nearly flat, trading around 83,966 in a choppy Monday morning session after falling for the previous two days, as gains in oil & gas, financial services, metals, and banking stocks offset losses in consumer durables, technology, and auto shares. Traders remained cautious ahead of Q2 corporate earnings, with nearly 77 companies set to announce results, including Bharti Airtel and Power Grid Corp. Investors also awaited the outcome of a meeting between the RBI and banks on Tuesday, amid concerns over tightening liquidity in the banking system. On the data front, final figures showed that India’s manufacturing sector growth was revised higher in October, supported by robust demand. Among individual stocks, Mahindra & Mahindra rose 2%, SBI gained 1.2%, and IndusInd Bank climbed 0.7%, while Maruti Suzuki dropped 3.2% despite reporting an 8% yoy rise in profit after tax for the July–September quarter. Other early decliners included Titan and TCS, each down 0.8%.

2025年10月，汇丰银行印度制造业采购经理人指数升至59.2，高于58.4的初步估计和9月份的57.7，表明工厂活动增长更快。在强劲的需求、广告宣传和对商品及服务税改革的乐观情绪的支持下，新订单大幅增加，而产出增长与8月份的速度相匹配，是五年来共同增长最快的。出口订单稳步增长，但增速为今年迄今为止最低。随着企业建立库存和确保投入，采购活动以2023年5月以来的最快速度增长。就业人数连续第20个月增长，增速与9月份相似。积压订单略有增加，反映了强劲的需求，而供应商的交货时间改善到了四个月来的最佳水平。投入成本通胀降至八个月低点，但随着企业将更高的运费和劳动力成本转嫁给客户，产出价格以12年来的最高速度上涨。最后，在商品及服务税改革和强劲需求前景的推动下，信心依然强劲。

The HSBC India Manufacturing PMI rose to 59.2 in October 2025, above the flash estimate of 58.4 and September’s 57.7, signaling faster growth in factory activity. New orders expanded sharply, supported by strong demand, advertising efforts, and optimism over GST reform, while output growth matched August’s pace, the joint-fastest in five years. Export orders increased solidly, though at the slowest rate so far this year. Purchasing activity rose at the quickest pace since May 2023 as firms built inventories and secured inputs. Employment grew for the 20th straight month, with a similar pace to September. Backlogs increased slightly, reflecting firm demand, while supplier delivery times improved to the best level in four months. Input cost inflation eased to an eight-month low, yet output prices rose at the joint-highest rate in 12 years as companies passed higher freight and labor costs to customers. Lastly, confidence remained strong, driven by GST reform and robust demand prospects.