Market Commentary Quick Review News Details

Nifty settles below 26,050 mark; private bank shares tumble

(02-Dec-25   15:51)

The key equity indices ended with substantial losses today, extending their decline for third consecutive trading session, amid mixed economic signals and NSE's F&O contract expiry. Investors will keep an eye on upcoming IPO activity, PMI data and the RBI's monetary policy meeting scheduled later this week. The Nifty closed below the 26,050 mark.

Barring pharma all the sectoral indices on the NSE were traded in red with private bank, consumer durables and oil & gas shares declining the most.

As per provisional closing data, the barometer index, the S&P BSE Sensex declined 503.63 points or 0.59% to 85,138.27. The Nifty 50 index lost 143.55 points or 0.55% to 26,032.20. Over the last three sessions, the Nifty slipped 0.70%, while the Sensex fell 0.68%.

In the broader market, the S&P BSE Mid-Cap index shed 0.19% and the S&P BSE Small-Cap index rose 0.05%.

The market breadth was negative. On the BSE, 1,847 shares rose and 2,400 shares fell. A total of 210 shares were unchanged.

The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, fell 3.41% to 11.23.

Economy:

India's IIP growth rate for the month of October 2025 is 0.4%, compared with 4.0% in the month of September 2025. The said decline is 14-month low indicating a sharp slowdown in the economy.

India's current account deficit moderated to $12.3 billion (1.3% of GDP) in Q2:2025-26 from $ 20.8 billion (2.2% of GDP) in Q2:2024-25, the RBI said on Monday.

Buzzing Index:

The Nifty Private Bank index declined 0.69% to 28,558.75. The index fell 0.81% for three consecutive trading session.

RBL Bank (down 1.48%), ICICI Bank (down 1.29%), Axis Bank (down 1.19%), HDFC Bank (down 1.1%) and Kotak Mahindra Bank (down 0.27%), Bandhan Bank (down 0.2%) declined.

Stocks in Spotlight:

Sun Pharma Advanced Research Company (SPARC) was locked in 20% upper circuit after the company announced that the U.S. District Court has granted summary judgement in favour of SPARC for Sezaby PRV. In a regulatory filing made during market hours today, the company stated that the U.S. District Court for the District of Columbia granted summary judgment in favour of SPARC in the matter of issuance of priority review voucher (PRV) associated with the approval of Sezaby.

Mini Diamonds India surged 19.95% after the company announced that it has bagged an export order worth $1.50 million (approximately Rs 13.5 crore) from Hong Kong'based Jewellery Trendz.

Adani Ports and Special Economic Zone (APSEZ) slipped 0.73%. The company reported handling 41 MMT of cargo in November 2025, marking a 14% year-on-year (YoY) increase, driven by strong growth in containers (20% YoY) and dry cargo (10% YoY).

Hero MotoCorp shed 0.27%. The company has recorded 31% rise in total two-wheeler sales in November 2025, selling 604,490 units during the month as compared with 459,805 units dispatched in the same period last year.

NMDC added 0.99% after the company reported an 11.09% rise in iron ore production in November 2025 to 5.01 million tonnes (MT), compared to 4.51 MT recorded in the same month of the previous year.

GHV Infra Projects declined 2.12%. The company announced that it has secured an order worth Rs 109 crore from GHV (India) for the execution of civil, MEP, and finishing work for the buildings in Jamshedpur, Jharkhand.

Force Motors slipped 1.99%. The company's total sales climbed 52.94% to 2,883 units in November 2025 compared with 1,885 units sold in November 2024.

Bharat Dynamics shed 0.56%. The company has received orders worth Rs 2,462 crore from Indian Army. Majors orders received include ATGMs and SAM (Emergency Procurement).

Websol Energy System jumped 6.46% after the company announced that it has signed a memorandum of understanding (MoU) with Linton, a global leader in PV ingot and wafer equipment technology. As part of the collaboration, Websol plans to acquire PV ingot and wafer manufacturing equipment from Linton. Linton will also provide technical expertise, training, and skills development to Websol's team to ensure optimal operation of the equipment and related processes.

Global Markets:

European market advanced on Tuesday as investors awaited for Spanish and Italian unemployment figures.

Euro zone inflation stood at 2.2% in November, marking a slight rise from the previous month, flash data from data agency Eurostat showed Tuesday. The latest consumer price index reading is just a shade above the European Central Bank's 2% target.

Asian market ended mixed, despite growing expectations of a Federal Reserve rate cut next week, while Japanese stocks struggled amid signals the Bank of Japan may raise interest rates.

Shares of South Korean auto companies rose Tuesday after U.S. Secretary of Commerce Howard Lutnick confirmed that lower U.S. auto tariffs of 15% on South Korea would retrospectively come into effect, starting Nov. 1.

We are also removing tariffs on airplane parts and will 'un-stack' Korea's reciprocal rate to match Japan and the EU,' Lutnick said, according to an X post by the U.S. Department of Commerce.

South Korea's headline inflation in November rose 2.4% year on year, according to government data Tuesday. Core inflation, which strips out prices of fresh food and energy, rose 2% from a year earlier.

The latest figure is unchanged from October's inflation rate, supporting the case for the central bank to keep interest rates on hold. The Bank of Korea had kept rates unchanged at 2.5% for a fourth straight meeting last Thursday.

Overnight, the S&P 500 lost 0.53% to end at 6,812.63, while the Nasdaq Composite shed 0.38% to finish at 23,275.92. The Dow Jones Industrial Average pulled back by 427.09 points, or 0.9%, to settle at 47,289.33.

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