The Indian stock market experienced a decline for the third consecutive session on Wednesday, December 10, influenced by mixed global signals in anticipation of the US Federal Reserve’s policy announcement later in the day. The Sensex experienced an increase of 354 points during the session, reaching an intraday high of 85,020.34. However, it subsequently relinquished those gains, declining 629 points from the peak to close in negative territory. At the end of trading, the Sensex decreased by 275 points (0.32%), settling at 84,391.27, whereas the Nifty 50 fell by 82 points (0.32%), concluding at 25,758. The BSE Midcap index experienced a decline of 1.08%, while the Smallcap index saw a decrease of 0.58%.
“Markets exhibited volatility and concluded lower, reflecting the prevailing cautious sentiment in anticipation of the US Federal Reserve’s policy outcome.” Following a short-lived positive opening, the Nifty index steadily declined throughout the session, ultimately closing near the day’s low at 25,758, reflecting a decrease of 0.32%. Sectoral performance generally mirrored the benchmark trend, with IT, financials, and realty sectors experiencing the most significant declines, whereas metal and pharma sectors managed to close slightly higher. “Meanwhile, the broader indices resumed their corrective phase after a day’s pause, losing nearly a percent each,” stated Ajit Mishra.
Equities to Monitor :
- Tata Steel – The Board has approved a 4.8 MTPA capacity expansion at Neelachal Ispat Nigam (NINL), representing Phase 1 of the company’s comprehensive expansion strategy and enhancing Tata Steel’s long-products portfolio.
- Adani Enterprises Rs 25,000 crore rights issue concluded on Wednesday, demonstrating strong demand with a subscription rate of 108%. The company garnered bids for 14.95 crore shares, surpassing the 13.85 crore shares on offer, indicating robust engagement from both promoters and public investors in one of India’s most significant rights issues.
- Life Insurance Corporation of India – The Deputy Commissioner of State Tax, Mumbai, has issued a notice, demanding GST dues amounting to Rs 2,370.34 crore, which includes interest and penalties, for the financial years 2021–22 to 2023–24. The financial impact encompasses the overall amount required, inclusive of GST, interest, and penalties.
- The Reserve Bank of India (RBI) has granted State Bank of India approval to establish a Section 8 Company under the Companies Act for its Digital Payments Intelligence Platform. The approval hinges on the exemption granted to SBI by the Department of Financial Services.
- Cipla has unveiled a new treatment aimed at addressing obesity and type-2 diabetes. The Mumbai-based drugmaker announced in a regulatory filing the introduction of Yurpeak (tirzepatide), a once-weekly injectable therapy designed to tackle two significant health issues in India.
- Nestle India has disclosed that Svetlana Boldina will resign from her position as CFO, effective January 31, 2026. Additionally, Jagdeep Singh Marahar has been appointed as Whole-time Director, effective June 1, 2026.
- Mazagon Dock Shipbuilders – The Brazilian Navy and the Indian Navy, in collaboration with Mazagon Dock Shipbuilders, have formalized a Memorandum of Understanding to exchange information regarding the maintenance of Scorpène-class submarines and additional naval vessels.
- Waaree Energies has reported a noteworthy achievement, marking its position as the first solar panel manufacturer in India to exceed a monthly production of 1 GW of solar modules.
- Vedanta disclosed on Wednesday its intention to invest Rs 1 lakh crore in Rajasthan, aiming to double production across all its business segments.
- DCM Shriram has disclosed that it has signed a Memorandum of Understanding with Bayer CropScience to investigate joint efforts aimed at improving India’s agricultural landscape through innovation, sustainability, and farmer-centric solutions.