Market Summary
| Index | Level | Change | % Change | Commentary |
|---|---|---|---|---|
| Nifty 50 | 25,839.65 | −120.90 | −0.47 % | The Nifty struggled for a second session and closed below the 25,900 mark. After opening with a gap‑down, it remained under pressure amid weak global cues and foreign selling. |
| S&P BSE Sensex | 84,666.28 | −436.41 | −0.51 % | The Sensex lost more than 400 points. Selling intensified in large‑cap IT, auto and chemical names. |
| Nifty Bank | 59,222.35 | −160.62 | −0.03 % | Banks fared better than the broader market; PSU banks ended mildly higher while private banks slipped. |
| Nifty IT | 38,130.60 | −460.10 | −1.19 % | IT stocks were hurt by worries over US demand and the rupee’s volatility. Tech Mahindra and HCL Tech were notable laggards. |
| BSE Small‑Cap | 50,601.41 | +634.27 | +1.27 % | Mid‑ and small‑cap indices staged a strong rebound from oversold territory. Risk appetite returned to broader markets even as frontline indices slid. |
| Nifty Midcap 100 | — | +0.32 % | — | Mid‑caps recovered after Monday’s sell‑off. |
Sectoral overview
- Gaining sectors: Consumer durables, PSU banks, real estate and chemicals gained as bargain‑hunting emerged in broader markets. PSU banks rallied around 1.3 % after a sharp sell‑off in the previous session.
- Underperformers: IT, auto, pharma, metal and media indices lost between 0.5 % and 1.3 %. Weak global demand prospects, rupee weakness and concerns about new US trade tariffs weighed on these sectors.
Market Internals and Key Statistics
| Statistic (NSE) | Observation |
|---|---|
| Advances/Declines | About 1,833 shares advanced while 1,021 declined, indicating improved breadth compared with Monday’s rout. |
| Market breadth (early trade) | In morning trade ~2,733 stocks were active; only 377 advanced against 2,301 declines and 55 stocks were unchanged. |
| 52‑week highs/lows | 7 stocks hit new 52‑week highs while 338 touched 52‑week lows. |
| Upper/Lower circuits | 21 stocks hit their upper circuit limits and 42 hit their lower circuits. |
| India VIX | Around 11.47 (+3 % intraday); volatility is rising ahead of the US Fed meeting. |
| FII/DII flows (7 Dec) | Foreign institutional investors (FIIs) sold ~₹655 crore, while domestic institutional investors (DIIs) bought roughly ₹2,542 crore. Persistent FII outflows have added to selling pressure. |
| Rupee | The Indian rupee hovered near 83.65 per dollar, weighed down by risk‑off sentiment. |
Most Active Stocks (NSE)
| Stock | Price (₹) | Change | Notable activity |
|---|---|---|---|
| Kaynes Technology | 4,331.00 | +524.00 | Shares rallied ~14 % after Macquarie reiterated an “outperform” rating and signalled 102 % upside potential. |
| InterGlobe Aviation | 4,967.50 | +44.00 | Investor interest continued despite the DGCA asking IndiGo to cut capacity by 5 % following a public‑relations crisis. |
| BSE Ltd | 2,715.80 | −83.00 | Profit‑booking pulled the stock lower; it had surged in earlier sessions on high derivatives turnover. |
| Reliance Industries | 1,529.40 | −13.60 | Drifted lower; energy stocks faced pressure on crude‑oil volatility. |
| ICICI Bank | 1,375.20 | −14.40 | Private‑bank majors slipped amid FII selling. |
Top Gainers and Losers (Nifty 50)
Top gainers
| Company | Price (₹) | Change (₹) | % Gain | Catalyst |
|---|---|---|---|---|
| Titan Company | 3,849.00 | +82.00 | +2.18 % | Demand for discretionary products remains strong; shares bounced after recent weakness. |
| Eternal (ETERNAL) | 291.70 | +6.45 | +2.26 % | Resilience in speciality chemicals and hopes of improved order flow lifted the stock. |
| Adani Enterprises | 2,245.20 | +29.00 | +1.31 % | Continued recovery from recent correction; positive commentary on airport business. |
| Shriram Finance | 846.70 | +12.45 | +1.49 % | Buying interest returned after the stock corrected sharply in previous sessions. |
Top losers
| Company | Price (₹) | Change (₹) | % Loss | Reason |
|---|---|---|---|---|
| Asian Paints | 2,796.00 | −132.30 | −4.52 % | Concerns over higher raw‑material costs and the company’s ability to pass these on to consumers. |
| Tech Mahindra | 1,561.60 | −30.20 | −1.90 % | IT services stocks remained under pressure due to global demand uncertainty. |
| HCL Technologies | 1,657.60 | −31.00 | −1.84 % | Sector‑wide weakness; some profit‑booking after a recent rally. |
| Tata Steel | 160.67 | −2.80 | −1.71 % | Metal stocks fell as the US hinted at tariffs on agricultural imports and fertilisers, sparking fears of a broader trade dispute. |
What moved the market
- Global risk‑off sentiment: Asian indices were mostly lower (Hang Seng −0.85 %, Kospi −0.68 %, Shanghai Composite −0.13 %), while Japan’s Nikkei posted modest gains. Wall Street’s major indices ended lower on Monday (S&P 500 −0.35 %, Dow −0.45 %, Nasdaq −0.14 %) ahead of the US Federal Reserve’s policy decision. Rising US Treasury yields and expectations that future rate cuts could be fewer than anticipated kept investors on edge.
- Trade‑tension worries: Comments from US President Donald Trump about possible new tariffs on Indian rice imports and Canadian fertilisers rattled commodity and agriculture‑linked counters. Rice manufacturers such as LT Foods, KRBL and GRM Overseas slipped sharply.
- Foreign outflows and rupee weakness: Persistent selling by foreign investors and a weaker rupee (near ₹83.65/dollar) weighed on the broader sentiment. Investors are cautious ahead of the Federal Reserve’s rate decision and any guidance on 2026 rate cuts.
- Domestic triggers: There were few domestic catalysts. Gains in PSU banks and select consumer stocks were offset by heavy selling in IT, auto, metal and pharma names. Small‑ and mid‑cap stocks outperformed after being deeply oversold, drawing bargain hunters.
Global cues
| Region/Index | Latest close | Trend |
|---|---|---|
| US: S&P 500 / Dow / Nasdaq | Fell by 0.35 %, 0.45 % and 0.14 % respectively in the previous session | Investors await the Fed’s rate decision and guidance; Treasury yields rose. |
| Asia (9 Dec) | Hang Seng −0.85 %, Taiwan Weighted −0.29 %, Kospi −0.68 %, Shanghai Composite −0.13 %, Nikkei +0.32 % | Mixed trading; rate‑cut expectations and trade tensions kept risk appetite low. |
| Europe (early trade) | Stoxx 600 and FTSE 100 traded softer | Energy and mining stocks dragged amid concerns over slowing global demand. |
Stocks to watch
- Kaynes Technology: After rising more than 10 %, the stock remains volatile. Macquarie projects strong revenue visibility; traders should watch for follow‑through buying or profit‑taking.
- InterGlobe Aviation (IndiGo): The DGCA directed the airline to cut flights by 5 % until it submits a revised schedule following a crew‑scheduling crisis. The stock held firm, suggesting investors see limited long‑term impact.
- Rice manufacturers (LT Foods, KRBL, GRM Overseas): Shares fell after the US administration hinted at tariffs on Indian rice imports. Any updates on trade negotiations could drive further volatility.
- SEBI‑approved IPO candidates: Molbio Diagnostics, Leap India, Foodlink F&B, Ather Energy and Kaynes Technology’s subsidiary all received clearance for initial public offerings. Watch for filing details and valuations.
- PhysicsWallah: The education‑technology firm reported a 62 % year‑on‑year jump in September‑quarter profit. Its stock rose over 5 % and may stay in focus.
- Swiggy QIP: Swiggy’s ₹10,000‑crore qualified institutional placement opened after shareholder approval. Fund‑raising success could affect investor sentiment in internet–tech stocks.
Corporate updates
- Regulator actions: The Directorate General of Civil Aviation (DGCA) has instructed IndiGo to cut 5 % of flights and submit a revised schedule after repeated operational disruptions.
- SEBI approvals: The market regulator cleared five IPOs (Molbio Diagnostics, Leap India Logistics, Foodlink F&B, Ather Energy and Kaynes Technology’s subsidiary) and also approved a rights issue by the BSE and an offer by mutual fund house Groww.
- Macquarie on Kaynes Tech: The brokerage retained an “outperform” rating with a target implying over 100 % upside, citing strong order inflows and strategic expansions.
- Tariff threats: US President Donald Trump’s comments about fresh tariffs on Indian rice and Canadian fertilisers triggered a sell‑off in agriculture and fertiliser stocks.
- Wakefit: The furniture and sleep‑solutions company said its recent profit turnaround is sustainable as it ramps up offline sales, boosting investor confidence in the company’s upcoming IPO prospects.
Technical levels and outlook for the next trading day (10 Dec 2025)
- Nifty 50: The index closed below the psychological 26,000 level and formed a bearish candle. Immediate support lies in the 25,900–25,700 zone, which coincides with the bullish gap of 12 Nov and the 50‑day exponential moving average. A breach of 25,700 could take the Nifty toward 25,500–25,650. On the upside, 25,950–26,000 remains an initial barrier. Sustained trade above 26,200 would be needed to revive bullish momentum and could open the way toward 26,350–26,500.
- Bank Nifty: The banking gauge closed just above its 20‑day EMA. Support is seen around 58,900–58,800, while resistance lies near 59,600–59,700. A decisive breakout is required for a directional move.
- Expected tone: Volatility is likely to stay elevated ahead of the US Federal Reserve’s policy decision. Traders should maintain a cautious stance, focusing on stock‑specific opportunities rather than aggressive index bets. Broader markets may remain resilient if FIIs return and small‑caps continue to attract bargain hunting. Keep watch on global cues, rupee movement and FII flows for near‑term direction.
