Market Commentary Mid Session News Details

Indices trade near flat line in early trade; breadth negative

(03-Dec-25   09:36)

The key equity benchmarks traded with minor losses in early trade, pressured by the rupee depreciating beyond 90 against the US dollar. Investor will track the new IPO activity, and the RBI's monetary policy meeting scheduled later this week. The Nifty traded below the 26,000 level.

PSU Bank, FMCG and consumer durables shares advanced while IT and pharma stocks advanced.

At 09:25 IST, the barometer index, the S&P BSE Sensex, declined 29.25 points or 0.03% to 85,109.02. The Nifty 50 index fell 49.05 points or 0.19% to 25,975.60.

In the broader market, the S&P BSE Mid-Cap index fell 0.19% and the S&P BSE Small-Cap index shed 0.04%.

The market breadth was negative. On the BSE, 1,337 shares rose and 1,574 shares fell. A total of 163 shares were unchanged.

Foreign portfolio investors (FPIs) sold shares worth Rs 3,642.30 crore, while domestic institutional investors (DIIs) were net buyers to the tune of Rs 4,645.94 crore in the Indian equity market on 02 December 2025, provisional data showed.

Stocks in Spotlight:

Bikaji Foods International rose 0.37%. The company has subscribe additional 25,000 common stocks of $10 each, amounting to $ 2,50,000 in its wholly-owned subsidiary, Bikaji Foods International USA Corp (Bikaji USA).

Indian Railway Finance Corporation (IRFC) added 0.21%. The company has signed a loan agreement with Sumitomo Mitsun Banking corporation, GIFT city Branch at Gift city in Gandhinagar, Gujarat for raising external commercial borrowing loan of JPY equivalent $300 million.

CEAT advanced 1.12% after the company's board said that it will meet on 5 December 2025 to explore a proposal for issuance of non-convertible debentures (NCDs) on private placement basis.

Numbers to Track:

The yield on India's 10-year benchmark federal paper was unchanged at 6.503.

In the foreign exchange market, the rupee edged lower against the dollar. The partially convertible rupee was hovering at 90.0100 compared with its close of 89.9650 during the previous trading session. The currency slipped to a fresh record low after breaching the 90-mark.

MCX Gold futures for 5 December 2025 settlement rose 0.62% to Rs 128,120.

The US Dollar Index (DXY), which tracks the greenback's value against a basket of currencies, was down 0.11% to 99.23.

The United States 10-year bond yield fell 0.22% to 4.079.

In the commodities market, Brent crude for January 2025 settlement declined 2 cents or 0.03% to $63.43 a barrel.

Global Markets:

Asia-Pacific markets were mostly higher Wednesday, after Wall Street saw a tech-fueled recovery and a cryptocurrency rally.

Bitcoin climbed over 7% to cross the $90,000 mark in overnight trading after a sharp sell-off a day earlier.

South Korea's revised third-quarter GDP numbers indicated that country's economy grew at 1.8% year on year, compared to 1.7% in the initial estimate, data from the central bank showed Wednesday.

Australia's GDP expanded 2.1% year on year, marking its strongest expansion since the third quarter of 2023, but fell short of the widely reported 2.2% expected growth rate.

U.S. stock futures were little changed during early Asia hours after major U.S. indexes recovered some losses from the previous session.

Overnight in the U.S., the Dow Jones Industrial Average gained 0.39%, while the S&P 500 climbed 0.25% and the Nasdaq Composite advanced 0.59%.

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