The Indian stock market experienced a decline for the second consecutive session on Tuesday, December 2, as investors took profits at elevated levels, influenced by a weaker rupee and ongoing foreign fund outflows. The BSE Sensex experienced a decline of 504 points, representing a decrease of 0.59%, closing at 85,138. Meanwhile, the Nifty 50 concluded the day down by 144 points, or 0.55%, settling at 26,032. The total market capitalisation of BSE-listed firms decreased by Rs 1.82 lakh crore, now standing at Rs 472.59 lakh crore. Focus shifts to the RBI’s imminent three-day monetary policy meeting starting tomorrow, with the policy announcement set for December 5.
“Markets experienced a slight decline on the weekly expiry day, dropping nearly half a percent and continuing the current consolidation phase. Following a subdued opening, the Nifty experienced a gradual decline throughout the session, ultimately closing near the day’s low at 26,032, reflecting a decrease of approximately 0.43% from the prior close of 26,176. Sector-wise, the majority of indices aligned with the benchmark, with banking, financials, and metals emerging as the leading decliners. The overall market sentiment continued to be lackluster, with both midcap and smallcap indices closing lower. The decrease was mainly influenced by a significant reduction in the IIP data, a weakening rupee, and a sense of caution in anticipation of the forthcoming policy decisions from the US Fed and RBI later this week. Global cues provided minimal assistance, as US markets ended the day lower amid increasing treasury yields, while Asian markets displayed only a slight recovery,” stated Ajit Mishra.
Equities to Monitor :
- IRFC has disclosed that it has finalized a loan agreement with the GIFT City branch of Sumitomo Mitsui Banking Corporation in Gandhinagar, Gujarat, to obtain an external commercial borrowing (ECB) amounting to ¥300 million (approximately $300 million).
- IndiGo has disclosed that it has been issued a penalty order amounting to Rs 117.52 crore related to input tax credit, and the airline intends to challenge this ruling. The directive was enacted by the Joint Commissioner of Central Tax and Central Excise within the jurisdiction of the CGST Kochi Commissionerate in Kerala.
- India Cements has disclosed that its subsidiaries — PT Coromandel Minerals Resources in Indonesia and Raasi Minerals Pte Ltd in Singapore — have entered into a share sale and purchase agreement to divest their complete stake in PT Adcoal Energindo, Indonesia, for an anticipated value of IDR 10 billion (approximately Rs 5.4 crore).
- Hindustan Copper has disclosed the signing of a Memorandum of Understanding with NTPC Mining Ltd (NML) to collaborate on the development of copper and other essential minerals.
- Canara Bank has disclosed the successful raising of Rs 3,500 crore through the issuance of 7.55% Basel III-compliant additional tier I bonds. The offering comprises a base issue of Rs 1,000 crore alongside an additional green shoe option of Rs 2,500 crore, with both segments fully subscribed.
- KPI Green has obtained an order from Gujarat State Electricity Corporation (GSECL) for the engineering, procurement, and construction of a floating solar power project with a capacity of 142 MW (DC) / 110 MW (AC). The initiative is slated for establishment on the reservoir of the Kadana Dam located in the Mahisagar district of Gujarat.
- Motilal Oswal Financial Services has disclosed that its Finance Committee has approved the plan to issue a maximum of 30,000 fully paid, secured, rated, redeemable, and listed senior non-convertible debentures, each with a face value of Rs 1,00,000, amounting to a total of Rs 300 crore.
- CEAT – The Finance and Banking Committee of CEAT’s Board of Directors is scheduled to convene on December 5, 2025, to evaluate a proposal for the issuance of non-convertible debentures via a private placement.
- Maruti Suzuki expanded its electric vehicle offerings on Tuesday with the introduction of its inaugural electric SUV, the e-Vitara.
- Bikaji Foods International has allocated an extra $250,000 to its wholly owned U.S. subsidiary, Bikaji Foods International USA Corp, by acquiring 25,000 common shares at a price of $10 each on December 2.
- Bajaj Housing Finance on Tuesday sold a 2% stake for Rs 1,588 crore via an open market transaction. As per the bulk deal data from the National Stock Exchange (NSE), Bajaj Finance Ltd has divested 16.66 crore (16,66,00,000), which accounts for a 1.99% stake in Bajaj Housing Finance. The shares were sold at an average price of Rs 95.31 each, resulting in a total transaction value of Rs 1,587.86 crore. Following the most recent transaction, Bajaj Finance’s stake in Bajaj Housing Finance has decreased to 86.71% from 88.70%.
- Vodafone Idea has stated that the AGR issue has been covered in earlier disclosures and will inform exchanges only if there are new developments; this clarification comes after a surge in its shares due to optimism surrounding potential year-end AGR relief.
- Deep Industries has entered into a tripartite addendum with ONGC and its subsidiary, Deep Exploration Services.
- CEAT – The board of the company is scheduled to convene on December 5 to evaluate the possibility of raising funds via non-convertible debentures (NCDs).
- Chalet Hotels has introduced a new premium brand, Athiva Hotels & Resorts, which includes six hotels featuring over 900 keys.