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Informist, Monday, Dec. 1, 2025                                      Tel +91 (22) 6985-4000

Equity Alert: Indices end down on likely profit sales post new record highs

MUMBAI--1640 IST--Domestic indices closed slightly lower Monday on likely profit booking after they hit fresh all-time highs early in the trade. The Nifty 50 and Sensex hit fresh record highs of 26325.80 points and 85986.71 points, respectively, but failed to maintain these levels and then moved in a tight range in the remaining part of the session. The rupee falling to a new record low of 89.7825 against the dollar also weighed on the equity market.

The Nifty 50 closed at 26175.75 points, down 27.20 points or 0.1%. This is more than 150 points lower than the record high it hit earlier in the day. The BSE Sensex ended at 85641.90 points, down 64.77 points or 0.1%, which is over 517 points lower than the record high. The India VIX, the market's fear gauge, ended 0.1% higher at 11.6250 points after falling in the preceding five sessions. After a gap-up open, the market saw consistent selling pressure at higher levels, according to technical analysts.

The broader market ended mixed, with small-cap indices outpacing their mid-cap peers as well as the benchmark indices. The Nifty Smallcap 250, Nifty Smallcap 100, and Nifty Smallcap 50 ended higher by 0.2-0.5% while mid-cap indices closed largely flat. A similar trend was seen in sectoral indices, with Nifty Auto and Nifty Metal gaining the most while Nifty Realty and Nifty Healthcare were the worst hit.

Nifty Auto and Nifty Metal ended almost 1% higher. Metal stocks rose after copper and silver prices soared to fresh record highs Monday. Hindustan Copper and Hindustan Zinc led gains among metal stocks and were up 3–4%. Automobile stocks were in focus as companies released their wholesale sales data for November. The Nifty Auto index hit a fresh record high of 28075.65 points Monday buoyed by strong monthly sales, which were aided by the Goods and Services Tax cuts, benign inflation, and robust wedding season demand, Vinod Nair, head of research at Geojit Investments said in a note. Nifty Bank, Nifty Private Bank, and Nifty Financial Services also hit their record highs but lost momentum and closed 0.1-0.3% lower.  (Arya S. Biju)

Equity Alert: Nifty 50 Dec ends at premium of 154.35 points to spot index

MUMBAI--1634 IST--The December futures contract of the Nifty 50 closed at a premium of 154.35 points to the spot index Monday. Open interest in the contract rose 6% to 14.44 million, according to provisional data.

--Nifty 50 closed at 26175.75 points, down 27.20 points or 0.1% vs Fri

--Nifty 50 December closed at 26330.10 points, down 57.30 points or 0.2% vs Fri

Nifty 50 options, expiring Tuesday, with maximum change in open interest:

Call: 26300, Put: 26150

Nifty 50 options, expiring Tuesday, with maximum open interest:

Call: 26300, Put: 26000 

(Anjana Therese Antony)

Equity Alert: European indices lower as defence stocks decline; DAX sheds 1%

MUMBAI--1530 IST--Equity indices in Europe were lower in early trade Monday, as a fall in stocks of defence companies and Airbus pulled down markets in the region. The pan-European STOXX 50 was down 0.4%. 

"After a strong November finish that eased AI bubble concerns, traders are now seeking fresh catalysts. This week's focus is on economic data and early holiday spending signals from Black Friday and Cyber Monday," Reuters reported.

Shares of Airbus fell nearly 3% after the aircraft maker recalled 6,000 jets and ordered immediate repairs. Germany's DAX was almost 1% lower, with defence stocks such as Hensoldt and Rheinmetall falling by more than 5% and 3%, respectively. Italy's Leonardo shed about 3%, and the UK's BAE Systems was down over 2%.

Metal and mining stocks were the top-performing sectors in the Stoxx 600 benchmark as copper prices advanced to a record high on the London Metal Exchange, CNBC reported. The UK-listed shares of mining company Fresnillo rose almost 6%. 

Defence companies, which had mostly gained last week, started the month lower amid rising odds of peace in Eastern Europe. "US and Ukrainian officials held 'productive' talks on Sunday on a potential Russia-Ukraine peace deal, with US Secretary of State Marco Rubio expressing cautious optimism despite hurdles to ending the three-year war," Reuters reported. 

Following were the levels of major European indices at 1533 IST:

(Arundathi A R)

Equity Alert: Wockhardt jumps 20% after US FDA OKs application for Zaynich

MUMBAI--1511 IST--Shares of Wockhardt jumped 20% to an almost two-month high of INR 1,482, hitting its upper circuit. The rise in the pharmaceutical company's shares was after the US Food and Drug Administration formally accepted a new drug application for Wockhardt's novel antibiotic drug Zaynich. 

This is the first time that a new drug application for a new chemical entity from an Indian pharmaceutical company has been filed and accepted by the US drug regulator, the company said in a press release. The US FDA has also granted Zaynich a "fast-track designation." Wockhardt estimates that the drug would have an addressable market of $7 billion in the US and Europe, besides an INR 170 billion opportunity in India, taking the total opportunity to $9 billion, according to a report by Business Standard. (Eshitva Prakash)

Equity Alert: Asian indices end mixed; Japan's Nikkei falls 2%

MUMBAI--1430 IST--Asian indices closed lower Monday and MSCI's Asia index, excluding Japan, was almost flat. Japan's Nikkei 225 was the worst performer. The index snapped a four-day winning run to close 2% lower.

The yen rose Monday following comments by Bank of Japan Governor Kazuo Ueda, who signalled a rate hike in the near-term, according to a report by Reuters. The governor said that the bank will consider the "pros and cons" of raising interest rates at its policy meeting this month, the report said. The broader TOPIX index was down over 1% following three straight sessions of gain. Tokyo Electric Power Co. Holdings fell 10%, followed by Fujikura, which was down 9%. Shares of Mitsui Kinzoku Co. fell almost 7%.

China's CSI 300 advanced 1%. The country's factory activity contracted slightly in November as production growth came to a halt and new orders slowed, a private-sector survey showed on Monday. Hong Kong's Hang Seng index was up 0.7% and among the major gainers. E-commerce giant Alibaba Group Holding rose 2.2% and WeChat operator Tencent Holdings was up 1.3%. Online travel-booking agency Trip.com rose almost 2%. Gold producer Zijin Mining Group jumped up over 5% and China National Offshore Oil Corporation gained 2.5%.

Following were the levels of key Asian indices at 1400 IST:

(Arundathi A R)

Equity Alert: TVS Motor up 3% after posting robust wholesale sales for Nov

MUMBAI--1401 IST--Shares of TVS Motor Co. rose 3.4% to a high of INR 3,652 after the company's total wholesale sales for November jumped 30% on year and exports surged 58%. Last month, the company's three-wheeler sales saw exceptionally high growth. At 1401 IST, shares of the company were at INR 3,640, up INR 108.50 or 3.1%. 

Earlier in the day, the company said it despatched a total of 519,508 units to dealerships in India and abroad, registering on-year growth of 30%. Nuvama had expected the company to report overall volume of 475,000 units. Its overall exports grew 58% on year to 148,315 units.

The company's total two-wheeler sales increased 27% on year to 497,841 units in November. Nuvama had expected overall sales to rise nearly 17%. In India, sales increased 20% on year, higher than Nuvama's estimate of near 16% growth. Its motorcycle sales grew 34% on year and the scooter segment registered on-year growth of 27%. In November, total electric vehicle sales rose 46% on year to 38,307 units. The three-wheeler segment registered 147% on-year growth at 21,667 units, higher than the 17,500 units expected by Nuvama. 

Of the 21 research reports on the company available with Informist, 16 have a 'buy' or equivalent rating on the stock with an average target price of INR 3,480. Of the remaining, three have a 'hold' rating and two have 'sell' rating on the stock. (Gopika Balasubramanium)

Equity Alert: Hind Zinc, Hind Copper up 3-5% as silver, copper prices surge

MUMBAI--1328 IST--Shares of Hindustan Zinc and Hindustan Copper traded higher amid soaring prices of copper and silver, which hit their highest levels Monday. Shares of Hindustan Zinc rose 4% to an intraday high of INR 503.95 after the March silver futures on the Multi-Commodity Exchange of India rose nearly 2% to its all-time high of INR 178,649 per kilogram. Hindustan Zinc has risen as much as 10% in five consecutive sessions.

Shares of Hindustan Copper rose over 5% to INR 343.40. The red metal's December futures on the MCX rose nearly 4% to INR 1,048 per kilogram.

Till 1306 IST, a little over 10 million shares of Hindustan Zinc were traded on the bourse, almost double the number traded till the same time Friday. Hindustan Copper's trade volumes also spiked and over 11 million shares of the company have been traded so far, almost three-fold higher than the number of traded shares till the same time Friday. These two stocks were the largest gainers in the Nifty Metal index, which was up 0.5% as a result of the rise in these two. Other metal companies such NMDC, Vedanta, National Aluminum Co. were also up 1-2%. 

Of the seven brokerage recommendations available with Informist on Hindustan Zinc, five have a 'buy' or an equivalent rating with an average target price of 574, while one brokerage has a 'sell' rating and another has a 'hold' recommendation. All the three brokerage recommendations available with Informist on Hindustan Copper have a 'buy' rating on the stock with an average target price of INR 396.  (Eshitva Prakash)

Equity Alert: Indices turn red; losses in HDFC Bank, Bharti Airtel weigh

MUMBAI--1318 IST--Benchmark equity indices turned red, failing to maintain their respective fresh record highs hit earlier in the day, and were dragged down by further losses in index heavyweights HDFC Bank and Bharati Airtel. The equity indices also fell as the Indian rupee hit a new record low of 89.7600 against the dollar.

At 1310 IST, the Nifty 50 was at 26177.60 points, down 25.35 points or 0.1%. The index is now 148.20 points away from the record high of 26325.80 points hit on the day. The BSE Sensex was at 85647.55 points, down 59.12 points or 0.1%. This is 511.47 points away from the fresh record high of 86159.02 points hit on the day. 

Broader markets showed a mixed trend, with small-cap indices trading with gains, up 0.2-0.4%, while their mid-cap peers were down 0.1-0.2%. Sectoral indices were also mixed with all indices barring the Nifty Metal, Nifty PSU Bank, Nifty Auto, Nifty IT, Nifty Oil & Gas, and Nifty India Defence trading in the red. 

Nifty Metal rose 0.5%, extending gains for the second straight session and was the top gainer among sectoral indices. Metal stocks rose after copper and silver prices soared to fresh record highs Monday. Hindustan Copper, Hindustan Zinc, and National Aluminium Co. led gains among metal stocks and were up 2.2-4.5%.

Nifty Auto climbed over 1% to hit a fresh record high of 28074.95 points. TVS Motor Co. led the gains among automobile stocks, rising over 3% to its highest in over a month at INR 3,652. The company's total sales in November rose 30% on year to 519,508 units, outpacing the 11-12% on-year rise seen in the previous two months. Among other auto stocks, Hero MotoCorp hit a fresh record high of INR 6,333.50 ahead of the release of its November sales data. 

The fall of the rupee against the US dollar came as banks persistently bought dollars on behalf of importers and foreign portfolio investors, leading to stop-losses being triggered on short dollar bets, according to dealers in the foreign exchange market. Stop-losses were triggered around the key support of 89.50 a dollar, a level the Reserve Bank of India was seen protecting earlier, they said. 

Shares of Wockhardt rose as much as 12% intraday and were the top gainers in the Nifty 500 index after the company said the US Food and Drug Administration has formally accepted the new drug application for its antibiotic Zaynich. The drug has been granted fast track designation by the regulator recognising its potential to address urgent and unmet medical needs, the company said in an exchange filing. (Arya S. Biju)

Equity Alert: Ashok Leyland up 2% after co's Nov auto sales jump 29% on year

MUMBAI--1235 IST--Shares of Ashok Leyland rose a little over 2% to the day's high of INR 161.40 Monday and were just around their all-time high of INR 162. The stock rose after the company robust wholesale sales data for November. However, Ashok Leyland's stock came slightly off highs and, at 1233 IST, were around 1% higher at INR 159.25.

The company's total vehicle sales for November increased 29% year on year to 18,272 units. Its medium-and-heavy commercial vehicles sales, which account for 64% of its total volume, were up 27% on year at 11,681 units. The company despatched 6,591 light commercial vehicles sales, up 33% on year. The company's domestic sales saw growth of 32% on year at 16,491 units.

Over 15.74 million shares of the company were traded on the NSE so far, slightly lower than 18.60 million shares till the same time Friday. The stock advanced almost 12% in November after a marginal decline in October and an over 12% increase in September.

Of the 25 brokerage recommendations on the stock available with Informist, 19 have a 'buy' or equivalent rating and a target price of INR 205, while three have a 'hold' rating and two others have a 'sell' recommendation.  (Eshitva Prakash)

Equity Alert: Indices off record highs as losses in HDFC Bank weigh

MUMBAI--1148 IST—Benchmark equity indices came slightly off their fresh record highs Monday as losses in index heavyweight HDFC Bank offset the impact of gains in other heavyweights such as ICICI Bank and Reliance Industries. Both the benchmark indices had hit their respective all-time highs earlier in the day as investor sentiment was boosted by higher-than-expected GDP growth for the September quarter.

At 1142 IST, the Nifty 50 was at 26240.75 points, up 37.80 points or 0.1%. The BSE Sensex was at 85880.10 points, up 173.43 points or 0.2%. Earlier in the day, the 50-stock index had hit a new record high of 26325.80 points and the Sensex had climbed to a fresh all-time high of 86159.02 points. 

All broader market indices were higher with small-cap indices outpacing their mid-cap peers as well as benchmark indices. The Nifty Small-Cap 250, Nifty Small-Cap 100, and Nifty Small-Cap 50 were all up 0.5%. Most sectoral indices barring Nifty FMCG, Nifty Healthcare, Nifty Pharma, and Nifty Consumer Durables were trading higher, up 0.1-1.0%. Nifty PSU Bank index led the gains among the sectoral indices with all its constituents trading in the green. Automobile stocks remained higher amid the release of wholesale sales data for November.

Shares of cigarette makers ITC, Godfrey Phillips, and VST Industries fell 1-2% in early trade Monday after the government announced plans to impose an additional levy on tobacco products, including cigarettes, pan masala, and gutkha by amending the Central Excise Act and introducing The Health Security Se National Security Cess Bill, 2025 in Parliament Monday. The bill seeks to introduce a new cess on pan masala and the amendment to the Central Excise Act is to allow increased duty on tobacco products such as cigarettes. However, shares of VST Industries came off lows to trade marginally higher at 1145 IST.

Shares of One 97 Communications rose 2.5% and was the top gainer in the Nifty 200. The company late Friday said it has executed the business transfer agreement for transfer of its offline merchants payment business to its wholly-owned subsidiary, Paytm Payments Services Ltd. on a slump sale basis, after it received shareholders' approval on Nov 23. (Arya S. Biju)

Equity Alert: Indices open higher; Nifty 50, Sensex hit new record highs

MUMBAI--1008 IST--Domestic equity indices opened higher Monday after hitting new record highs in pre-open trade. Investors' sentiment got a boost after India's GDP expanded quicker than expected during the September quarter. Automobile stocks will be in focus during the day as these companies release monthly wholesale sales data. Stocks of state-owned banks traded higher followed by metal companies' stocks. On the other hand, some pharmaceutical and fast-moving consumer goods stocks fell in early trade. 

At 1002 IST, the Nifty 50 was at 26276.95 points, up 74 points or 0.3%. The 50-stock index hit a new record high of 26325.80 points. Its previous record high was on Thursday, when it rose to 26310.45 points. The rise in index was also on the back of gains in index heavyweights such as ICICI Bank and HDFC Bank. The BSE Sensex was at 85986.71 points, up 280.04 points or 0.3%. It had climbed to an all-time high of 86159.02 points. 

India's GDP expanded more than expected for the second quarter in a row, with growth rising to a six-quarter high of 8.2% in Jul-Sept, data from the statistics ministry showed Friday. This followed better-than-expected GDP growth in the June quarter at 7.8%.

Automobile stocks rose ahead of the release of wholesale sales numbers for November. Most companies are expected to report a robust growth in sales across segments on the back of lower goods and services tax rates, affordability, reduction in interest rates, strong rural demand, and availability of adequate finance.

The Nifty Auto was up around 1%, with 12 of the 15 contituents trading in the green. Bajaj Auo rose nearly 1% after the company reported an 8% on-year rise in its total sales in November to 453,273 units, on the back of a 19% on-year increase in exports and a 3% rise in domestic sales. (Arya S. Biju)

Equity Alert: Asian indices mixed; Japan's Nikkei 225 drops almost 2%

MUMBAI--0850 IST--Equity indices in Asia were mixed in early trade Monday and Japan's Nikkei 225 was among the worst hit indices in the region. High expectations of a quarter-percentage point rate cut by the US Federal Reserve at its policy meeting in December improved trader sentiments. China's General Manufacturing purchasing managers' index contracted in November, as opposed to expectations of an expansion by analysts.  

The RatingDog China General Manufacturing PMI, conducted by S&P Global, dropped to 49.9 in November, missing analysts' expectations of 50.5 in a Reuters poll. A reading above 50 suggests expansion, while one below it indicates contraction.

Japan's Nikkei 225 index was the worst performer among Asian indices in early trade. The index fell nearly 2%, after gaining for the previous four straight sessions. The broader TOPIX index was down over 1% following three straight sessions of gain.

Trader sentiment remains bullish globally, as they continue to place higher bets on an interest rate cut by the US Federal Reserve. The CME Fedwatch data suggests an over 87% chance of the US Fed cutting key rate by a quarter percentage point at its December meeting. Dovish commentary by Fed officials and weaker-than-expected consumer data from the US boosted such bets. 

Following were the levels of key Asian indices at 0852 IST:

(Arundathi A R)

Equity Alert: Benchmark indices seen up at open on better-than-expected GDP

MUMBAI--0827 IST--Analysts expect India's headline indices to open slightly higher Monday, especially after the surprise growth in India's GDP during the September quarter. Automobile companies will be in focus during the session as they will release their wholesale sales numbers for November. The consensus is that there would be robust growth across segments, especially on the back of lower goods and services tax rates, affordability, interest rate cuts, strong rural demand, and availability of adequate finance.

"Gift Nifty is indicating a gap-up opening on the back of better than expected GDP numbers," Vipin Kumar, assistant vice president – technical and derivatives at Globe Capital Market, said. "We continue to uphold buy on dips trading approach on the domestic market..," he said. On Monday, the Nifty 50 index is likely to face resistance around 26300-26360 points intraday and find support at 26000-26100 points. 

India's GDP expanded more than expected for the second quarter in a row, with growth rising to a six-quarter high of 8.2% in Jul-Sept, data from the statistics ministry showed Friday. This followed better-than-expected GDP growth in the June quarter at 7.8%.

On Friday, the Nifty 50 ended at 26202.95 points, down 12.60 points. The BSE Sensex closed at 85706.67 points, down 13.71 points. Last week, the indices had hit their respective record highs. The December contract of the GIFT Nifty indicated that indices are likely to open slightly higher Monday. At 0801 IST, the contract was at 26513.50 points, down 4 points. This was over 300 points higher than the Nifty 50's close Friday.

On Friday, foreign investors were net sellers of Indian equities and sold shares worth up to around INR 38 billion. Domestic investors continued to be net buyers and bought stocks worth INR 41.50 billion. 

Investors will now track the monetary policy meeting of Reserve Bank of India later this week. Companies in rate cut-sensitive sectors such as banks, non-banking financial companies, automobile, real estate, and consumer goods will also be in focus this week. On Friday, indices in the US had ended higher in a shortened trading session after the Thanksgiving holiday. Asian indices were mixed in early trade Monday. Indices in Japan and Australia fell while those in China and South Korea rose.  (Gopika Balasubramanium)

Equity Alert: US indices up Fri after Thanksgiving amid gains in tech stocks

MUMBAI--0750 IST--Benchmark equity indices in the US ended higher Friday for the fifth straight session on the back of gains in retail stocks and a recovery in technology stocks during a shortened session after Thanksgiving. Expectations that the US Federal Reserve will cut key interest rates at its meeting in December also improved trader sentiment. All the three benchmark indices posted weekly gains, while the Nasdaq Composite ended with monthly losses.

"The mood is back to a bit more of a risk-on sentiment in that the market is now 80% to 85% certain we're going to get a (Federal Reserve) rate cut in just a couple of short weeks," CNBC quoted Brian Mulberry, client portfolio manager at Zacks Investment Management, as saying.

The technology-heavy Nasdaq Composite fell almost 1% in November amid concerns about expensive artificial intelligence and technology stock valuations, with traders taking profits and reducing exposure to these stocks.

Shares of Intel surged over 10% and were the S&P 500's top performers in the shortened trading session. The jump came after an analyst suggested that Intel could become a foundry supplier for Apple processors, bolstering rumours earlier in the year about a possible deal with the iPhone maker, Reuters reported. Among other technology companies, shares of chipmaker Advanced Micro Devices rose 1.5% and those of Apple also rose.

Following recent dovish comments by several US Federal Reserve officials and media reports suggesting that White House National Economic Council Director Kevin Hassett would be the next Fed chair, Fed fund futures traders are pricing in a higher chance of an interest rate cut by the US Fed. Traders are now pricing in an over 87% probability that the apex bank will cut key rates by quarter percentage points at its policy meeting in December, according to data from CME FedWatch tool. This prediction is higher than a week ago, when traders were pricing in a 71% chance of such a cut.

Following are the closing levels of US indices Friday:

(Arundathi A R)

End

US$1 = INR 89.55

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

Edited by Ashish Shirke

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