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Informist, Tuesday, Nov. 25, 2025                                      Tel +91 (22) 6985-4000

Equity Alert: Mkt ends dn as traders unwind long positions before F&O expiry

MUMBAI--1614 IST--Domestic benchmark equity indices closed lower Tuesday for the third straight session, as traders unwound their long positions ahead of the expiry of the Nifty 50's monthly derivatives contracts. Banking heavyweights on the Nifty 50 dragged down the index the most, while gains in another heavyweight, Reliance Industries, and the State Bank of India cushioned it from a steeper fall. Both Nifty 50 and Sensex failed to close above their psychologically crucial levels of 26000 and 85000 points for the second consecutive day. 

The Nifty 50 closed at 25884.80 points, down 74.70 points or 0.3%. The BSE Sensex closed at 84587.01 points, down 313.70 points or 0.4%. In the 50-stock index, more than half the constituents ended in the red. The market fell despite increasing global optimism about a rate cut in the US. The domestic market underperformed many of its Asian peers, but was in tandem with those in Europe. Despite the volatility Tuesday, the fear gauge, India VIX, closed nearly 8% lower, indicating a likely ease in caution in the near term. Meanwhile, all the broader indices ended up 0.1–0.6%.

Among sectoral indices, the Nifty Financial Services was a major drag on the index, with a fall in shares of index heavyweights HDFC Bank and ICICI Bank weighing on it. Both stocks fell for most of the session and were down nearly 1% each. However, gains in State Bank of India, which closed over 1% up, limited the losses for the index. The stock was among the top gainers on the Nifty 50.

Bucking the trend in global information technology stocks, shares of most domestic IT companies ended lower, dragging down the Nifty IT index by 0.5%. The sectoral index closed in the red after hitting an over four-month high Monday. Technology major Infosys closed down over 1% and was a major drag on the Nifty 50. HCL Technologies, Tata Consultancy Services, and Wipro were down nearly 1% each. 

The Nifty PSU index ended over 1% higher after closing lower in the previous three straight sessions. Barring UCO Bank, all the constituents of the sectoral index closed higher. Bank of Maharashtra and Bank of Baroda gained the most and ended over 2% higher each. 

Bharat Electronics ended nearly 2% higher and was the top gainer on the Nifty 50. The stock, which was down in the last three straight sessions, rose after the company said it signed a joint-venture agreement with France's Safran Electronics and Defence to manufacture highly agile modular munition extended range or HAMMER smart precision-guided weapons in India.  (Arundathi A R)

Equity Alert: European mkts dn post higher open; some bks, defence cos gain

MUMBAI--1522 IST--Equity indices in Europe opened higher before turning negative in early trade Tuesday. The pan-European Stoxx 600 fell marginally despite select oil and gas companies and banks rising. Market participants await the release of a producer inflation report and retail sales figures in the US, which may provide cues on the US Federal Reserve's interest rate trajectory going forward.

The STXE 600 Oil+Gas index was 0.3% higher and the STXE 600 banks index was also trading with gains. Shares of Barclay's were up over 2% and Unicredit and Bco Santander traded higher.

Traders await further news on the progress made in the Russia-Ukraine peace deal. The US and Ukraine Monday discussed a reworked plan to end the war, drafting a "refined peace framework". "These are our core European principles moving forward: Ukraine's territory and sovereignty must be respected," CNBC quoted European Commission President Ursula von der Leyen as saying. "Only Ukraine, as a sovereign country can make decisions regarding their armed forces, the choice of their destiny is in their own hands."

Overnight, Russian and Ukrainian troops traded fresh blows despite the ongoing peace talks. Shares of defence companies across the region traded higher after a sharp pull-back in recent days. Germany's Renk and Rheinmetall gained more than 3%. France's Dassault Aviation was 1.5% higher and the UK's BAE Systems also rose.

Shares of Kingfisher rose nearly 5%, and were among the top gainers in the STOXX 600, after the home improvement retailer upwardly revised its full-year profit outlook, Reuters reported. Meanwhile, British budget airline easyJet reported stronger-than-expected operating profit for its full financial year on Tuesday. The company's shares fell 1.5% in early trade due to weak guidance, UK Investor Magazine reported.

Following were the levels of major European indices at 1521 IST:

(Eshitva Prakash)

Equity Alert: Nifty 50 falls below 25900 pts as heavyweights weigh; mkt in red

MUMBAI--1505 IST--Headline indices were down, after coming off their day's highs. The Nifty 50 had earlier managed to cross the 26000-point mark at its day's high, before a fall in two major index heavyweights – HDFC Bank and ICICI Bank – pulled the index down. However, gains in another index heavyweight, Reliance Industries, limited the losses. The rise in shares of State Bank of India and Bharti Airtel also limited the fall. 

At 1504 IST, the Nifty 50 was at 25884.15 points, down 75.35 points or 0.3%. The Sensex was at 84591.79 points, down 308.92 points or 0.4%. The India VIX, the market's fear gauge, was down nearly 8% during the trading session Tuesday, suggesting easing of nervousness in the market despite the expiry of weekly derivatives contracts of the Nifty 50. 

Fast-moving consumer goods companies such as Nestle India, Dabur India, and Colgate – Palmolive (India) recovered briefly but again fell in negative territory. The Nifty FMCG index was flat at 55127 points. Nestle India ended lower in the previous session, shares of Dabur India were marginally up after ending lower for two previous sessions. Godrej Consumer Products, Emami, and Radico Khaitan were the biggest gainers in the FMCG index, trading 1-3% higher. 

Shares of Spencer's Retail recovered briefly before falling again to trade slightly lower. Spencer's Retail plans to open 8-10 new stores in 2025-26 (Apr-Mar) with West Bengal and Uttar Pradesh as its focus states, people familiar with the matter told Informist. This comes after the company shut 47 stores in FY25. The retailer has already opened a 6,000 square feet store in Kolkata and has a couple more stores in its pipeline to be opened in Lucknow.  (Akshat Saksena)

Equity Alert: Most mkts in Asia end higher; Kospi, Nikkei come off highs

MUMBAI--1345 IST--Most equity indices in Asia closed slightly higher Tuesday, buoyed by a global rally in technology stocks. Overnight in the US, artificial intelligence-related stocks surged due to optimism about the latest AI models by Google's parent Alphabet, which partially offset concerns around skyrocketing valuations of AI-related companies. Benchmark indices in South Korea and Japan ended higher but were nowhere near their intraday highs. Traders expect the US Federal Reserve to cut its benchmark interest rates further by the end of the year, providing a positive trigger for markets in the region.

Hong Kong's Hang Seng index was nearly 1% higher as technology stocks extended a rebound on Tuesday. Smartphones and electric vehicles maker Xiaomi rose 4% after founder Lei Jun committed around $13 million to boosting his stake in the company, South China Morning Post reported Tuesday. Alibaba Group Holding was up before its quarterly results later in the day. Search-engine operator Baidu was up nearly 4%, rising for a second straight day after a rating upgrade by JPMorgan Chase. In major policy moves, authorities in Hong Kong cancelled a number of events promoting cultural exchanges with Japan as the diplomatic spat between Beijing and Tokyo continues, Nikkei Asia reported. 

In mainland China, the blue-chip CSI 300 index and the SSE Composite rose around 1% each, outperforming most major indices in the region. Shanghai-listed shares of Foxconn Industrial Internet rose more than 1% after the affiliate of Taiwan's Hon Hai Precision Industry denied market speculation that it was lowering its profit forecast for the upcoming quarter, South China Morning Post reported. 

Japan's Nikkei 225 index was up marginally on Tuesday, shedding early gains. Shares of SoftBank Group were among the worst performing and dropped almost 10%. Shares of Sumitomo Electric Industries rose more than 6% and those of Toppan Holdings ended nearly 5% higher. The broader Topix index reversed gains and closed 0.2% lower. 

South Korea's KOSPI closed 0.3% higher due to sharp gains in Samsung Electro-Mechanics, which rose almost 7%. Korea Electric Power was up 7% and Korea Zinc's shares ended 6% higher.

Comments by US Fed officials have increased the likelihood of further easing of interest rates by the apex bank. Fed Governor Christopher Waller Monday said a reduction in borrowing costs was still on the cards in December and New York Fed president John Williams said he saw the possibility of a near-term cut. Fed fund futures traders are pricing in an 81% chance of a 25-basis point rate cut at the December meeting, according to CME's FedWatch Tool, up from 50% a week ago. The US central bank will conduct a two-day policy meeting starting Dec. 9. "We think the Fed will cut (interest rates) in December and then pause five to six months before they look at three more cuts next year, probably in the second half," Jack Siu, head of discretionary portfolio management at Lombard Odier, was quoted by Reuters as saying.

Following were the levels of key Asian indices at 1319 IST:

(Eshitva Prakash)

Equity Alert: Indices turn choppy after early gains; Nifty Realty top gainer

MUMBAI--1326 IST--Benchmark indices were choppy after the first half of Tuesday's session, as gains in index heavyweights Reliance Industries and State Bank of India primarily pushed the index higher but losses in shares of Infosys and HDFC Bank capped the gains. Tuesday is also the expiry day of monthly futures and options contracts of the Nifty 50. Among sectoral indices, Nifty Realty and Nifty PSU Bank rose the most.

At 1316 IST, the Nifty 50 was at 25999.05 points, up 39.55 points or 0.2%. The Sensex was at 85008.96 points, up 108.25 points or 0.1%. Nifty VIX, or volatility index, was down nearly 6% for the session.  

Bharat Electronics was up over 1.5% and was the highest gainer on the Nifty 50. This was after the company along with France's Safran Electronics & Defence signed a joint-venture agreement to manufacture highly agile modular munition extended range or HAMMER smart precision-guided weapons in India. Adani Enterprises was down over 2% and was the worst performer in the 50-stock index, falling for a third consecutive session during which the share price has declined around 4%.

Shares of Transformers and Rectifiers (India), Craftsman Automation, and Latent View Analytics were up 5.8-7.7% and were the highest gainers on the Nifty 500 index. Shares of Transformers and Rectifiers (India) rose after the company got an order worth INR 3.90 billion from Gujarat Energy Transmission Corp. for the delivery of 53 transformers. Shares of Zen Technologies rose over 1% after witnessing two consecutive sessions of decline, during which the stock lost over 4% of its value. The company received an order worth INR 1.08 billion to supply simulators from the Ministry of Defence. Siemens Energy India, Authum Investment & Infrastructure, and ITI were down around 4% each, making them the worst performers in the 500-stock index.  (Akshat Saksena)

Equity Alert: Siemens Energy falls 4% after rising sharply in early trade

MUMBAI--1305 IST--Siemens Energy India's movement during Tuesday's session was a roller-coaster ride as the stock fell significantly after touching an intraday high despite the company posting a sharp jump in its net profit for the September quarter.

The stock fell nearly 4% to an intraday low of INR 3,040 right after the stock touched an intraday high of INR 3,294 and had risen over 4%. This comes after the company's net profit for the September quarter jumped over 31% on year to INR 3.60 billion and its revenue from operations for the quarter surged over 27% on year to INR 26.46 billion.

In other news, BNP Paribas Financial Markets Monday sold 4.31 million shares of Siemens Energy India at INR 3,163.99 per share through a bulk deal on the NSE. The shares sold, represent 1.2% stake in Siemens Energy and the deal totals INR 13.64 billion.

As of 1300 IST, over 1.5 million shares of the company changed hands on the NSE compared with 646,564 shares traded till the same time Monday. Out of the five brokerage reports available on the company with Informist, three have a 'hold' rating with an average target price of INR 3,532. The remaining two brokerages have a 'buy' rating with an average target price of INR 3,235 on the stock.  (P. Madhu Kumar)

Equity Alert: Indices move in thin range; IT cos, pvt banks weigh on market

MUMBAI--1230 IST--The Nifty 50 briefly crossed the 26000 mark but failed to hold its gains amid heightened market volatility. The indices traded in a narrow range, weighed down by declines in private sector banks and information technology companies. Metal companies, which have been up for most of the session, were off their intraday highs.

At 1150 IST the Nifty 50 was at 25970.80 points, up 11.30 points. The BSE Sensex was at 84891.11 points, largely unchanged from Monday's close. Adani Enterprises was the worst hit in the day's trade, falling almost 2%. Fast-moving consumer goods companies Nestle and Tata Consumer Products were also among the weakest constituents of the Nifty 50, down 0.8-1.6%. Index heavyweights HDFC Bank and ICICI Bank were a tad lower.

Meanwhile, Bharat Electronics rose to the top of the Nifty 50, snapping a three-day losing streak. The company has signed a joint venture agreement with France's Safran Electronics and Defence to manufacture smart precision-guided weapons in India. Among other gainers, JSW Steel and Hindalco Industries advanced about 1% each. Reliance Industries and State Bank of India, which together account for roughly 12% of the Nifty 50's index weightage, gained 0.8–1.6%.

Information technology stocks were consistently lower throughout the session. Shares of Infosys, HCL Technologies, and Wipro were down 0.3-1.2%. Indian IT stocks have bucked the positive global momentum around this sector built by overnight gains in US artificial intelligence-related companies. The Nifty IT index was nearly 1% lower.

The Nifty Realty index climbed over 1%, followed by gains in the Nifty PSU Bank index. Midcap stocks outperformed their smallcap peers in the broader market, with the Nifty Midcap 50 rising 0.5%. Siemens Energy India fell nearly 3%, emerging as the top loser in the 200-stock index. BNP Paribas Financial Markets sold 1.2% stake in the company for INR 13.64 billion. Meanwhile, Craftsman Automation rose over 6% and was top gainer in the Nifty 500.   (Eshitva Prakash)

Equity Alert: Mkt fails to hold early gains; HDFC Bk, ICICI Bk biggest drags

MUMBAI--1130 IST--Headline equity indices could not hold on to their early gains and fell Tuesday. Oil and gas and metal stocks advanced, while information technology and financial services stocks slipped. Analysts expect the session to be volatile due to the expiry of weekly derivative contracts.

At 1112 IST, the Nifty 50 was at 25935.50 points, down 24 points or 0.1%. The Sensex was at 84794 points, down 106.71 points or 0.1%. The Nifty 50 slipped primarily because index heavyweights HDFC Bank and ICICI Bank declined, offsetting gains in Reliance Industries.

Among sectoral indices, the Nifty Media and Nifty IT fell the most. Shares of information technology companies such as LTIMindtree, Infosys, and HCL Technologies fell 1% each. Among media stocks, PVR Inox was down over 3%, the worst performer.   

The Nifty Realty rose over 1%, making it the best-performing sectoral index. This comes after five consecutive sessions of decline, during which it fell over 6%. Barring SignatureGlobal (India), all other index constituents traded higher. The Phoenix Mills, Anant Raj Ltd., and Prestige Estates Projects gained 1–3% and Sobha Ltd. rose nearly 2%. Sobha recently announced its foray into Mumbai's real estate market with a project comprising 310 flats across more than one acre, according to a report by the Press Trust of India.

Among Nifty 500 stocks, Nuvoco Vistas Corporation, HEG, and Craftsman Automation were up 4-6% and were the highest gainers. Shares of ACME Solar Holdings rose 2% after its subsidiary Tuesday signed a power purchase pact with Solar Energy Corp. of India to set up a 200 megawatt solar project. AWL Agri Business, Authum Investment & Infrastructure, and ITI were down 4-5% and fell the most among constituents of the 500-stock index.  (Akshat Saksena)

Equity Alert: Indices a tad up at open on gains in US mkt, but turn choppy

MUMBAI--0950 IST--Domestic benchmark equity indices opened a tad higher Tuesday but were choppy thereafter. Most of the Asian indices rose in early trade, tracking overnight gains in the US indices. In India, healthcare and metal stocks fared better than others in early trade.

At 1009 IST, the Nifty 50 was at 25998.95 points, up 39.45 points, or 0.2%. Around half of the Nifty 50 constituents opened in the green. The BSE Sensex was at 85022.05 points, up 121.34 points, or 0.1%. Both benchmarks are trading over 1% below their all-time highs hit on Sept. 27, 2024. Among the sectoral indices, the Nifty Realty, which was over 1% higher, was the top gainer. The sectoral index rose after falling for the past five straight sessions, having shed over 6% during this period. Among the broader market indices, all the small-cap indices opened in the red while the mid-cap indices were in the green. 

Healthcare and pharmaceutical stocks gained in the early trade, with the Nifty Healthcare up 0.5%, snapping the three-day losing streak. Dr. Reddy's Laboratories was the top gainer among the Nifty 50 constituents, up over 1%. The stock rose after closing lower for the previous three sessions, after the company and its subsidiaries received approval from the European Commission for biosimilar AVT03. Apollo Hospitals Enterprise was up slightly after three sessions of fall. The company has opened a smart quaternary care facility in Pune consisting of 400 beds.

Information technology stocks fell slightly, with the Nifty IT down 0.3%. The domestic IT index underperformed when compared to higher gains in the Asian region. Technology stocks in Asia rose, driven by the renewed optimism around artificial intelligence. Overnight in the US, Alphabet gained as the company's new Gemini models mildly offset concerns over lofty valuations of IT stocks. Indian IT stocks such as Wipro, Infosys, Tech Mahindra and HCL Technologies were all trading slightly lower. (Arundathi A R)

Equity Alert: HSBC cuts target price for Tata Motors PV 14%, retains 'hold'

MUMBAI--0921 IST--HSBC has cut the target price for shares of Tata Motors Passenger Vehicles by 14% to INR 400 and maintained a 'hold' recommendation on the stock. The risks associated with the company's UK subsidiary Jaguar Land Rover are expected to outweigh the growth potential of its India business, according to the brokerage, NDTV Profit reported. At 0920 IST, the company's shares were down 0.3% at INR 357.25 on the National Stock Exchange, almost 11% lower than HSBC's target price. 

JLR's business saw a number of hurdles such as US tariffs, an ageing portfolio, a consumption tax of 10% in China on ultra-luxury cars from a threshold of 900,000 yuan or approximately INR 11 million, the cyberattack in September which led to the temporary shutdown of its factories, and low demand in the European Union, NDTV Profit reported on its social media handle X, citing HSBC. JLR contributes around 79% to Tata Motors Passenger Vehicles' revenue.    

For the September quarter, Tata Motors Passenger Vehicles posted a net loss from continuing operations of INR 63.68 billion as the company incurred a one-time expense of over INR 20 billion related to the cyberattack on JLR operations, which led to lower volumes. 

On the positive side, the automaker is expected to benefit from the launch of the sports utility vehicle Sierra, HSBC said. The company's electric sport utility vehicles such as Nexon and Harrier are expected to benefit from the production-linked incentive scheme in the coming quarters, the brokerage added.

Of the 17 brokerage reports available on the company with Informist, seven have a 'buy' call on the stock at an average target price of INR 788. Another four have a 'hold' rating at an average target price of INR 570, and the remaining six have a 'sell' rating with an average target price of INR 490.  (Adhithya Aji)   

Equity Alert: JP Morgan ups RIL's target price by 2% on attractive valuations

MUMBAI--0850 IST--JP Morgan increased the target price of Reliance Industries by 2% to INR 1,727 while maintaining its "overweight" rating on the stock, NDTV Profit said in a post on social media platform X, citing the brokerage. This was mainly on the back of "attractive valuations" when compared to its peers and better earnings prospects for the company. RIL's stock closed 0.7% lower at INR 1,535.90 on Monday. JP Morgan's target price indicates an upside of 12% from the previous close. 

JP Morgan's margin forecasts for RIL show a quarterly jump of around $3.8 per barrel, according to the NDTV Profit report. Even when $1-per-barrel hit from the loss of discounted Russian crude is adjusted for, current gross refining margins could lift projections for 2026-27 (Apr-Mar) by about 6%, JP Morgan was quoted as saying. Media reports Friday said RIL stopped importing crude oil from Russia for its export-oriented refinery in Jamnagar, Gujarat. 

The broking firm said the drag on the company's earnings due to weak refining and petrochemical operations is behind it. For 2026, the firm identified a few factors that would be crucial for RIL – initial public offering of its telecomm arm Jio Infocomm Ltd., tariff hikes, robust revenue from new energy venture, and stability in its retail operations. 

Of the 15 brokerage reports on the company available with Informist, all have a "buy" or equivalent rating on the stock with an average target price of INR 1,684. This average price shows an upside of around 10% from the current spot price. (Gopika Balasubramanium)

Equity Alert: Citi says better occupancy, case mix to push Max Health growth 

MUMBAI--0846 IST--Foreign brokerage Citi said Max Healthcare Institute's issues with respect to cashless insurance services are fully resolved and the company's growth will be supported by higher occupancy and better case mix, CNBC-TV18 reported. The broking firm maintained its 'buy' rating on the stock with a target price of INR 1,460, which is 26% higher than the stock's closing price of INR 1,155.80 on Monday. 

The company had faced issues with cashless insurance services due to disputes with multiple insurers, including Star Health, Niva Bupa, Care Health, and Tata AIG General Insurance, amid disagreements on tariff rates. Due to the dispute, the healthcare company's revenue from the insurance segment had fallen to almost 34% of the total revenue in the September quarter from 37.2% a year ago. The company had reported 74% on-year growth in its consolidated net profit for the September quarter at INR 4.91 billion and a 25% rise in revenue at INR 21.35 billion. 

Citi also said that the government's health scheme revision would boost the average revenue per occupied bed, or ARPOB, of the company as well as margins in 2026-27 (Apr-Mar). Its operating margin in the reporting quarter had risen 30 basis points on year to 26.9%. ARPOB had improved to INR 77,300 for the quarter from INR 76,200 a year ago. The company's bed occupancy rate for the quarter was 77%. 

Of the 10 research reports available on the company with Informist, eight have a 'buy' or equivalent rating on the stock with an average target price of INR 1,328, which is almost 15% higher than the current market price. The remaining two brokerages have a 'sell' or equivalent rating on the stock.  (Anjana Therese Antony)

Equity Alert: Most indices in Asia up on rise in IT shrs, US rate cut hopes

MUMBAI--0822 IST--Most equity indices in Asia were higher in early trade Tuesday, tracking overnight gains on the Wall Street. Shares of information technology companies, particularly those in the business of artificial intelligence, traded higher across the region. This rise was fuelled by the renewed optimism around AI after overnight gains in Alphabet's stock as the company's new Gemini models offset concerns over lofty valuations of IT stocks in the US. A rise in expectations of an interest rate cut by the US Federal Reserve at its policy meeting in December also boosted traders' sentiment.

The MSCI Asia index, excluding Japan, was up more than 1%. Japan's Nikkei 225 rose 0.6% and the broader Topix was also slightly higher. Shares of semiconductor testing equipment supplier Advantest were over 5% higher and those of chip equipment maker Lasertec rose nearly 4%. Shares of Tokyo Electron traded 3% higher.

South Korea's KOSPI index rose 0.7%, paring some gains from early trade when it had risen almost 3%. Shares of index heavyweight chip maker SK Hynix rose almost 2% and those of Samsung Electronics were up a little over 2%.

Hong Kong's Hang Seng Index rose over 1% in early trade, and the Hang Seng Tech index was nearly 2% higher. On the mainland, the bluechip CSI 300 gained almost 1%.

Traders are pricing in an 81% chance of a 25-basis-point interest rate cut by the US Federal Reserve at its upcoming policy meeting. This figure is far higher than the 42% chance of a rate cut that traders saw a week ago. This shift in probabilities was largely driven by the New York Federal Reserve's President John Williams' comments on Friday when he said there was a likelihood of a "further adjustment" in interest rates in the near term.

Following were the levels of key Asian indices at 0812 IST:

(Eshitva Prakash)

Equity Alert: Mkt to open tad higher, volatility likely on monthly F&O expiry

MUMBAI--0815 IST--India's headline equity indices are likely to open a tad higher Tuesday, supported by positive global cues and overnight gains in the US market. However, the indices are likely to consolidate in the near term and some analysts are cautiously optimistic about the market. Technical analysts expect the indices to be volatile during the session, especially due to the expiry of the monthly derivatives contracts of the Nifty 50 on Tuesday. According to analysts, the quantum of call writing was higher than the put bets and, hence, there would be near-term negativity in the market. 

The Nifty 50 is expected to open flat or on a positive note Tuesday but is likely to consolidate within 25800-26200 points, Mandar Bhojane, research analyst at Chola Securities, said. He said the overall bias was bullish. 

The November contract of the GIFT Nifty indicated indices are likely to open slightly higher Tuesday. At 0751 IST, the contract was at 25989 points, up 2.5 points from its previous close. It was 30 points higher than the Nifty 50's close on Monday. On Monday, the Nifty 50 closed at 25959.50 points, down 108.65 points or 0.4%. The benchmark index closed below 26000 points after sustaining the level in past three straight sessions. The BSE Sensex closed at 84900.71 points, down 331.21 points or 0.4%. 

On Monday, foreign investors were net sellers in Indian equities, offloading shares worth INR 41.71 billion. In contrast, domestic investors remained net buyers, purchasing stocks valued at INR 45.13 billion.

Late Monday, US benchmark indices closed higher, extending the gains from Friday, when they gained on the back of renewed optimism about an interest rate cut by the US Federal Reserve in its upcoming December meeting. Dovish comments by Fed policymakers likely made investors overlook the concerns on premium valuations artificial intelligence companies, which they sold aggressively till Thursday. Shares of Alphabet, Broadcom, Micron Technology rose in the session. Tracking gains in the US, majority of the Asian indices rose in early trade, except for those in Singapore and Australia. Chip stocks in Japan and South Korea also moved higher at the open.  (Gopika Balasubramanium)

Equity Alert: US mkt ends higher Mon amid rate cut optimism; AI stocks surge

MUMBAI--0754 IST--Equity indices in the US closed higher Monday, extending Friday's rally on increased hope that the US Federal Reserve will lower its benchmark interest rate in December. Traders looked past lofty valuations of artificial intelligence-related stocks and were bullish on them after Google parent Alphabet's new Gemini model reignited the AI trade.

Shares of Alphabet ended more than 6% higher. Last week, Google had announced its upgraded AI model, Gemini 3, nearly eight months after it launched Gemini 2.5. "It's great for Alphabet and investors in Alphabet, but it always concerns me when we have one stock that is leading the market higher," Melissa Brown, SimCorp's managing director of investment decision research, was quoted as CNBC by saying. "We're not looking necessarily at a broad-based improvement, that just doesn't seem to me to be a sustainable force behind driving the market higher over the next however many days."

US Fed Governor Christopher Waller, New York Fed President John Williams, and San Francisco Fed President Mary Daly were dovish on the Fed's monetary policy going forward, which boosted stocks further. Fed funds futures are pricing in an 81% likelihood of a 25-basis-point rate cut in December, up from 42% a week ago, according to CME's FedWatch Tool.

Driven by the optimism, shares of other companies that are in the business of AI, surged. Broadcom gained a little over 11% and Micron Technology ended 8% higher. Shares of Palantir Technologies and AMD rose around 5% each. Some of the 'magnificent seven' stocks such as Meta, Nvidia, and Amazon rose 2–3%.

Shares of Bristol-Myers rose more than 3% after its European rival Bayer unveiled positive data for its cardiovascular drug, boosting confidence in Bristol-Myers' experimental drug milvexian, Reuters reported. Shares of Centene and Oscar Health were significantly higher, following a report that US President Trump was considering extending the Affordable Care Act's subsidies for two years.

Following are the closing levels of US indices Monday:

(Eshitva Prakash)

End

US$1 = INR 89.22

IST, or Indian Standard Time, is five-and-a-half hours ahead of GMT

Edited by Tanima Banerjee

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