Market Commentary Mid Session News Details

Barometers trade with moderate cuts; European markets advance

(03-Dec-25   13:45)

The headline equity indices traded with modest losses in the afternoon trade as the rupee weakened against US dollar. Investors' focus now shifts to ongoing IPO activity and the RBI's monetary policy meeting scheduled later this week. The Nifty traded below the 25,950 mark.

PSU bank, consumer durables and auto shares declined, while IT and private bank shares advanced.

At 13:30 IST, the barometer index, the S&P BSE Sensex fell 229.58 points or 0.27% to 84,908.69. The Nifty 50 index lost 85.40 points or 0.33% to 25,946.80.

In the broader market, the S&P BSE Mid-Cap index dropped 0.94% and the S&P BSE Small-Cap index slipped 0.58%.

The market breadth was weak. On the BSE, 1,341 shares rose and 2,654 shares fell. A total of 183 shares were unchanged.

Gainers & Losers:

Wipro (up 1.97%), Tata Consultancy Services (up 1.46%), Infosys (up 0.92%), Axis Bank (up 0.84%) and ICICI Bank (up 0.71%) were the major Nifty50 gainers.

Tata Consumer Products (down 2.36%), Mahindra & Mahindra (down 1.96%), Bharat Electronics (down 1.85%), Max Healthcare Institute (down 1.83%) and Tata Motors Passenger Vehicles (down 1.80%) were the major Nifty50 losers.

Economy:

The seasonally adjusted HSBC India Services PMI Business Activity Index rose from 58.9 in October to 59.8 in November, indicating a historically strong expansion in output and a faster pace of growth than the previous month.

Meanwhile, the HSBC India Composite PMI Output Index stood at 59.7 in November, pointing to robust growth. However, the decline from October's 60.4 reading signalled the slowest expansion since May

IPO Update:

Meesho received bids for 19,12,57,065 shares as against 27,79,38,446 shares on offer, according to stock exchange data at 13:18 IST on Wednesday (3 December 2025). The issue was subscribed 0.69 times. The issue opened for bidding on 3 December 2025 and it will close on 5 December 2025. The price band of the IPO is fixed between Rs 105 and 111 per share.

Aequs received bids for 7,15,31,280 shares as against 4,20,26,913 shares on offer, according to stock exchange data at 13:20 IST on Wednesday (3 December 2025). The issue was subscribed 1.70 times. The issue opened for bidding on 3 December 2025 and it will close on 5 December 2025. The price band of the IPO is fixed between Rs 118 and 124 per share.

Vidya Wires received bids for 7,64,66,592 shares as against 4,33,34,009 shares on offer, according to stock exchange data at 13:21 IST on Wednesday (3 December 2025). The issue was subscribed 1.76 times. The issue opened for bidding on 3 December 2025 and it will close on 5 December 2025. The price band of the IPO is fixed between Rs 48 and 52 per share.

Stocks in Spotlight:

Blue Cloud Softech Solutions (BCSSL) rallied 3.79% after the company said that it has received a major data annotation and AI training services order from USA-based Stratos Forge Inc.

Angel One slipped 3.61% after the company reported that its gross client acquisition declined 16.6% year-on-year (YoY) to 0.50 million in November 2025 from 0.60 million in November 2024.

Indian Railway Finance Corporation (IRFC) declined 1.33%. The company announced that it has signed a loan agreement with Sumitomo Mitsui Banking Corporation (SMBC) to raise an External Commercial Borrowing (ECB) loan valued at the Japanese Yen (JPY) equivalent of $300 million.

Mahindra Lifespace Developers shed 0.51%. The company said that it has been selected as the preferred development partner for a major residential redevelopment project in Matunga, Mumbai.

Quality Power Electrical Equipment added 1.58% after the company announced that it has secured an order worth Rs 13.90 crore for the supply of coil products.

Global Markets:

Most European markets rose on Wednesday as investors awaited the Federal Reserve's decision, which is scheduled for later this week.

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

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.

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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