| Index | Close | Day’s change | Key notes |
|---|---|---|---|
| BSE Sensex | ≈84,391 | –275 pts (–0.32%) | Third straight decline; selling pressure intensified near the 20‑day EMA; intraday high above 25,948 but closed near day’s low. |
| Nifty 50 | ≈25,758 | –81.6 pts (–0.32%) | Pulled down by mid‑session profit‑taking; finished near the 50‑day EMA support; intraday high at ~25,948. |
| Nifty Bank | ≈58,960 | –0.44% | Faced resistance near 59,425–59,450; slipped below 20‑day EMA. |
| Nifty Midcap 100 | –1.1% | Reversed the previous session’s rebound; selling at overhead resistance (17,300–17,400) indicates the rise was corrective. | |
| Nifty Smallcap 100 | –0.7% | Bounce fizzled; short‑term trend remains weak until index decisively crosses 17,300–17,400. | |
| Sectoral movers | Metals and Media were the only indices in the green, up about 0.5% each. Consumer Durables (–1.7%), IT, PSU Bank, Realty, Auto and Capital Goods indices slipped 0.5–1%. |
Market breadth & statistics
Around 1,830 stocks advanced versus about 2,186 declining on the BSE (advance/decline ratio tilted toward bears). The BSE Midcap index fell ~1 %, and the Smallcap index lost ~0.7 %. The rupee closed around ₹89.97 per US$ (about 9 paise weaker). Foreign institutional investors remained net sellers ahead of the US Federal Reserve meeting, while domestic institutions provided some support. Volatility ticked up as traders trimmed exposure in mid‑ and small‑cap names.
Top Nifty 50 gainers & losers
| Top gainers | Catalyst | Top losers | Catalyst |
|---|---|---|---|
| Eicher Motors | Buying in auto exporters and expectations of strong Royal Enfield sales | InterGlobe Aviation (IndiGo) | Shares slipped ~3 %; caution ahead of DGCA’s directive to reduce flight schedules and higher ATF prices |
| Hindalco Industries | Higher aluminium prices and strength in metal stocks | Eternal (Zomato) | Profit‑taking in new‑age tech stocks; concerns about profitability |
| HDFC Life | Domestic institutional buying in insurance space | Trent | Valuation‑driven selling after recent outperformance |
| Tata Steel | Bounce in global steel prices; metal index was the day’s standout | Bharti Airtel | Weakness in telecom amid fears of tariff cuts |
| Adani Ports | Positive trade‑talk commentary; hopes of recovery in cargo volumes | Apollo Hospitals | Profit‑taking in health‑care names after a strong run |
What moved the market
- Global cues and Fed caution: Risk appetite remained subdued ahead of the US Federal Reserve’s final policy meeting of 2025. Traders widely expect a 25‑bp rate cut but worry that central‑bank messaging could signal slower easing in 2026. Japanese bond yields spiking on hints of Bank of Japan tightening and mixed US economic data contributed to risk‑off sentiment.
- FII selling & rupee weakness: Persistent foreign outflows and a weaker rupee (sub‑₹90 per US$) weighed on domestic equities. Uncertainty over the timing of a US‑India trade deal added to caution.
- Sector rotation: Investors rotated out of richly valued mid‑ and small‑cap stocks into defensives. Metals and media bucked the trend thanks to firm commodity prices and selected buying, while consumer durables, IT, PSU banks and realty faced broad‑based profit‑taking.
- Mixed corporate news: positive news on certain stocks (e.g., Surya Roshni’s ₹168.71 crore pipe order, AIA Engineering acquiring the remaining stake in Vega MPS Pty, UBS reiterating a ‘buy’ call on Siemens, Goldman Sachs raising its target price on Nestlé India) provided stock‑specific support. On the flip side, new‑age tech stocks (Paytm, Eternal, Nykaa, Delhivery) continued to tumble as investors shunned loss‑making businesses.
Global cues to watch
- Federal Reserve meeting: Investors await Jerome Powell’s press conference for guidance on rate cuts in 2026. A dovish tone could spur a relief rally; a data‑dependent outlook may keep markets range‑bound.
- US‑India trade talks: US trade negotiators are in India for talks—any clarity on tariff reductions or trade facilitation could influence sentiment in export‑linked sectors.
- Commodity prices: Brent crude hovered around $78/bbl; iron‑ore and aluminium prices firmed up. Precious‑metal prices rallied, lifting stocks like Hindustan Zinc.
- Asian & US markets: Overnight moves in Wall Street and Asia (especially following the Bank of Japan’s policy hints) will set the tone for early trade.
Stocks & corporate events to watch
- Surya Roshni – bagged a ₹168.71 cr order for submerged‑arc welded MS pipes.
- AIA Engineering – its subsidiary acquired the remaining 14 % stake in Vega MPS PTY, making it a wholly owned subsidiary.
- Nestlé India – Goldman Sachs maintained a neutral rating but raised the target price to ₹1,230.
- Siemens – UBS reiterated a ‘buy’ rating with a target of ₹4,200; the brokerage highlighted benefits from the LV Motors demerger and global consolidation strategy.
- Thermax – Bombay High Court set aside an earlier arbitral award against the company; shares were volatile.
- Ongoing IPOs – Corona Remedies’ IPO saw overwhelming demand (~83× subscription) on Day 3; Wakefit Innovations’ offer was subscribed ~1.95×; Nephrocare Health Services received a tepid ~0.10× subscription on Day 1; Park Medi World’s IPO is subscribed ~0.41×. Listing of Wakefit is expected on 15 December.
Technical view & levels for Thursday (11 Dec 2025)
- Nifty 50 – the 50‑day EMA zone around 25,730–25,700 acts as immediate support. A sustained break below could drag the index toward 25,500. On the upside, the 20‑day EMA around 25,950–26,000 is a strong resistance. Clearing 26,000 could open a move to 26,150. The daily RSI has slipped from 60 to 44 in three sessions, signalling weakening momentum.
- Bank Nifty – support lies at 58,800–58,700; a break could extend declines to 58,500 and then 58,100. Resistance is seen at 59,300–59,400. The index needs to reclaim its 20‑day EMA to regain short‑term strength.
- Tone for tomorrow: Expect a cautious-to-range‑bound session with stock‑specific action. Investors will react to the Fed outcome overnight. Any dovish surprise could lead to a relief rally, while hawkish commentary could see selling pressure persist. Watch FII flows, rupee movement and global cues. Mid‑ and small‑cap segments may remain under pressure until indices clear their respective resistance zones.
Bottom line
Indian equities closed lower on 10 December as investors pared risk ahead of a key US Federal Reserve meeting and amid continued FII selling. The Nifty 50 and Sensex both fell about one‑third of a percent, with consumer durables, IT and PSU banks dragging, while metals and media outperformed. Keeping an eye on global central‑bank cues, currency movements and corporate developments will be crucial in assessing Thursday’s trade.
