Asian markets traded lower on Friday, following overnight losses on Wall Street.

US stock market ended lower on Thursday in a sharp reversal from an early rally, as technology gains faded after a boost from Nvidia's earnings.

Here's a table showing how US stocks performed on Thursday:

Source: Equitymaster

At present, the BSE Sensex is trading 69 points lower, and the NSE Nifty is trading 32 points lower.

M&M, TCS, and Asian Paints are among the top gainers today.

Tata Steel, Adani Ports, and ICICI Bank the other hand, are among the top losers today.

The BSE Midcap index is trading 0.3% lower, and the BSE Smallcap index is trading 0.4% lower.

Barring the auto sector and the telecommunication sector, all other sectoral indices are trading negatively today, with stocks in the realty sector and the metal sector witnessing selling pressure.

The rupee is trading at Rs 88.6 against the US dollar.
 

Reliance Pauses Russian Oil for Exports

Reliance Industries said it has stopped importing Russian oil for its export-only refinery in Jamnagar, Gujarat. The company made this change to follow European Union rules that ban fuels made from Russian crude. Starting 1 December 2025, all fuel exported from this refinery will be made only from non-Russian oil.

Reliance is India's biggest oil refiner and a major buyer of Russian crude. It buys Russian oil for its large Jamnagar refining complex, which has two refineries, one for exports and one for India's domestic market. The export-focused refinery sends fuel to the EU, the US, and other countries, so it must follow EU sanctions.

Reliance said the shift away from Russian oil was finished ahead of schedule to fully comply with EU restrictions that will apply from January 2026.
 

TPG to Invest in TCS Hypervault

Tata Consultancy Services (TCS), India's biggest IT services company, said on Thursday that it has partnered with global investment firm TPG to grow its data centre business, HyperVault. This is a big step for TCS as it aims to become the largest AI-ready technology services company.

Together, TCS and TPG plan to invest up to Rs 180 billion (bn) over the next few years, with TPG contributing around Rs 88.2 bn and taking a 27.5-49% stake in HyperVault. The funding will come from a combination of equity and debt.

TCS said that having TPG as a strategic partner will help create long-term value, reduce upfront costs, and improve returns for shareholders.

This is the first time TCS has invested heavily in a capital-intensive business, as it has usually preferred organic growth rather than acquisitions.

Its last big acquisition was in 2008, when it bought Citigroup Global Services.
 

JSW Energy to Acquire Rail Infrastructure

JSW Energy has received approval from the creditors of Raigarh Champa Rail Infrastructure (RCRIPL) to acquire the company, which is currently dealing with insolvency.

After acquiring KMPCL, JSW Energy already had a significant indirect stake in RCRIPL, which provides all rail infrastructure for coal transportation to KMPCL.

In a statement on Thursday, JSW Energy said that its resolution plan for RCRIPL under the insolvency process was approved by the Committee of Creditors. The company also received a Letter of Intent from the Resolution Professional on Wednesday.

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