Market Commentary Mid Session News Details

Benchmarks trade in negative terrain; consumer durables shares tumble

(03-Dec-25   14:35)

The key equity indices traded with limited losses in mid-afternoon trade as the rupee weakened against US dollar. Traders are closely monitoring IPO developments along with the RBI's monetary policy meeting due this week. The Nifty traded tad below the 25,950 mark.

Consumer durables shares declined for third consecutive trading sessions.

At 14:25 IST, the barometer index, the S&P BSE Sensex declined 164.33 points or 0.19% to 84,973.94. The Nifty 50 index fell 84.20 points or 0.32% to 25,948.

The broader market underperformed the frontline indices. The S&P BSE Mid-Cap index declined 1% and the S&P BSE Small-Cap index fell 0.55%.

The market breadth was weak. On the BSE, 1,343 shares rose and 2,717 shares fell. A total of 179 shares were unchanged.

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

Buzzing Index:

The Nifty Consumer Durables index declined 1.45% to 36,976.80. The index fell 2.39% for three consecutive trading sessions.

Dixon Technologies (India) (down 2.75%), Whirlpool of India (down 2.58%), PG Electroplast (down 2.58%), V-Guard Industries (down 2%), Kalyan Jewellers India (down 1.93%), Titan Company (down 1.83%), Crompton Greaves Consumer Electricals (down 1.71%), Kajaria Ceramics (down 1.39%), Century Plyboards (India) (down 0.54%) and Voltas (down 0.16%) declined.

Numbers to Track:

The yield on India's 10-year benchmark federal paper was advanced 0.55% to 6.539 as compared with the previous close of 6.503.

In the foreign exchange market, the rupee edged lower against the dollar. The partially convertible rupee was hovering at 90.1500 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 0.30% to Rs 127,713.

The US Dollar Index (DXY), which tracks the greenback's value against a basket of currencies, was down 0.14% to 99.20.

The United States 10-year bond yield fell 0.29% to 4.076.

In the commodities market, Brent crude for January 2025 settlement added 40 cents or 0.64% to $62.85 a barrel.

Stock in Spotlight:

BEML fell 1.76%. The company announced that it has secured an additional order worth Rs 414 crore from Bangalore Metro Rail Corporation (BMRCL) for the supply of trainsets for the Bangalore Metro Rail Project, Phase II.

NBCC (India) declined 2.17%. The company said that it has been awarded five new works totaling approximately Rs 665.38 crore by various entities.

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