Stock market benchmarks Sensex and Nifty 50 experienced a decline for the second consecutive session, influenced by unfavorable global signals in anticipation of the US Fed policy announcement. The Sensex experienced a decline of 436 points, equivalent to 0.51%, closing at 84,666.28. Meanwhile, the Nifty 50 fell by 121 points, or 0.47%, concluding at 25,839.65. Conversely, mid- and small-cap indices demonstrated a recovery and concluded in positive territory, surpassing the performance of the headline indices. The BSE Midcap index experienced an increase of 0.60%, while the Smallcap index saw a notable rise of 1.27%.
“Markets exhibited volatility on the weekly expiry day, concluding with a decline of approximately 0.5% in response to mixed signals.” The initial tone exhibited weakness, and the pressure escalated significantly within the first hour of trading. Nonetheless, backing from certain major players across various sectors facilitated a mid-session rebound, succeeded by slight fluctuations until the market’s close. Ultimately, the Nifty concluded at approximately 25,839. The market exhibited a mixed trend across sectors, with realty and energy sectors showing gains, while IT and auto sectors experienced declines. The recovery in the broader indices, specifically midcap and smallcap, provided a welcome relief following the recent significant downturn. Sentiment remained fragile due to global Fed jitters ahead of the policy announcement. “In addition, fresh tariff concerns on Indian rice exports weighed on agri-related stocks, while persistent FII outflows and the rupee’s slide past 90 continued to add to investor anxiety,” stated Ajit Mishra.
Equities to Monitor :
- Swiggy has initiated a Rs 10,000-crore ($1.11 billion) Qualified Institutional Placement (QIP), presenting shares at an indicative floor price of Rs 371 each, approximately 6.8% below the previous closing price of Rs 398.05.
- Tata Power announced the activation of the 400 kV Koteshwar–Rishikesh transmission line, enabling the transfer of 1,000 MW of hydropower from the Tehri–Koteshwar generation complex in Uttarakhand to several northern states and union territories.
- IndiGo – The Ministry of Civil Aviation has mandated a 10% reduction in IndiGo’s scheduled flights following the airline’s cancellation of more than 2,000 flights last week due to insufficient pilot roster planning.
- Pine Labs subsidiary Setu has launched India’s inaugural “agentic” bill-payment service on AI platforms ChatGPT and Claude as of Tuesday. This service facilitates automated bill retrieval, anomaly detection, and payments within user-defined limits, aimed at reducing missed deadlines and minimizing human errors.
- Zydus Lifesciences subsidiary, Zydus Lifesciences Global FZE (United Arab Emirates), has established a strategic partnership with Formycon AG to exclusively license and supply FYB206, a biosimilar of Keytruda (Pembrolizumab), in the US and Canadian markets.
- Ola Electric – Union heavy industries minister H. D. Kumaraswamy informed the Lok Sabha on Tuesday that Ola is presently the sole company under the battery production PLI scheme that has established operational capacity to date.
- HUDCO has declared that its Bond Allotment Committee is set to meet on December 12 to sanction the issuance and distribution of unsecured, taxable, redeemable NCDs amounting to Rs 2,500 crore via a private placement.
- Highway Infrastructure has reported the acquisition of a Rs 328.78 crore Letter of Award (LoA) from NHAI, which authorizes the management and collection of tolls at the Kaza Fee Plaza located on the Chilakaluripet–Vijayawada segment of NH-16.
- JSW Energy reported receiving a Rs 328.78 crore Letter of Award (LoA) from NHAI to operate and collect tolls at the Kaza Fee Plaza on the Chilakaluripet–Vijayawada section of NH-16.
- Graphite India has secured an exclusive agreement with Spain’s Kivoro to distribute its graphene-based Heat Transfer Additive (HTA) within the Indian market.