More Stories

Informist, Tuesday, Dec. 2, 2025                                      Tel +91 (22) 6985-4000

Equity Alert: Indices end lower amid rupee's record low, weekly expiry

MUMBAI--1615 IST--Domestic equity indices closed lower amid a fall in the rupee to a new closing low of 89.87 against the dollar and the expiry of weekly derivatives contracts. The benchmark indices had opened the day's session on a weaker note after hitting new record highs Monday. After a gap-down opening, the market faced consistent selling pressure at higher levels, according to technical analysts.
 

The Nifty 50 closed at 26032.20 points, down 143.55 points, or 0.6%. The BSE Sensex ended at 85138.27 points, down 503.63 points or 0.6%. The 50-stock index fell briefly below the key support level of 26000 points during the session. Uncertainty over the India-US trade deal and the continued sales of domestic equities by foreign institutional investors weighed on market sentiment, according to analysts. However, the India Volatility Index, the market's fear gauge, ended over 3% lower. It had risen slightly in the previous session.

The rupee continued to fall against the dollar, hitting a fresh record low of 89.9525 a dollar as banks continuously bought dollars on behalf of importers, fearing a further fall in the Indian unit, dealers at the foreign exchange market said. However, the Reserve Bank of India's intervention through dollar sales ensured the currency did not test the psychologically-crucial 90-per-dollar level, they said.

All the broader market indices also ended lower, with small-cap indices faring the worst. Barring the Nifty Pharma, all sectoral indices also ended in the red. The Nifty PSU Bank closed slightly lower after remaining up for most of the day. Meanwhile, stocks of select financial services companies fell and private-sector bank stocks remained down throughout the session. The NSE's sectoral index overhaul, in line with SEBI regulations, led to corrections in major banking stocks, Vinod Nair, head of research at Geojit Investments, said in a note. The Nifty Auto, which hit a fresh record high within 15 minutes of opening, soon entered negative territory and closed marginally lower. Four of the 15 constituents of the index traded higher, while the rest dragged the index down.  (Arya S. Biju)

Equity Alert: GLP-1 to be key segment for Dr Reddy's, says HSBC Global

MUMBAI--1552 IST--HSBC Global has maintained its 'buy' rating on Dr. Reddy's Laboratories with a target price of INR 1,430, according to a post by CNBC-TV18 on social media platform X. The company is making progress in long-term growth drivers and glucagon-like peptide-1 drugs remain a focus segment for the company. The opportunity for generic semaglutide in Canada continues to be intact, with Dr. Reddy's having already responded to Health Canada's queries on its application. Approval of the drug would serve as a meaningful catalyst, CNBC TV-18 said in a post on X, citing the brokerage.
 

Dr. Reddy's injectable Semaglutide launch in Canada was delayed after the Pharmaceutical Drugs Directorate, Canada, issued a notice of non-compliance on its abbreviated new drug submission on Oct. 30. The drug has estimated annual sales of $1.6 billion in Canada, and the company is confident of achieving at least $300 million in revenue from Semaglutide in the initial phase.

On Tuesday, shares of the company closed over 1% higher and were up for the sixth consecutive session, during which it rose 4%. Around 2.4 million shares of the company changed hands on the National Stock Exchange, almost double the 1.46 million shares traded in the previous session. The stock had hit a one-month high of INR 1,278.30 earlier in the session.  (Eshitva Prakash)

Equity Alert: Emkay starts coverage on realty cos; sees firm housing demand

MUMBAI--1530 IST--Emkay Global Financial Services has initiated coverage on real estate companies and expects India's housing demand to stay strong. The brokerage favours small and mid-sized companies, expecting they will likely outperform with a 25-35% pre-sales compound annual growth rate from 2024-25 (Apr-Mar) to FY28, given favorable base and ability to gain market share.

Housing demand is expected to remain robust, driven by a growing preference for homeownership, improved affordability, low interest rates, and rising footfalls at project sites. The current 'disciplined' housing cycle is likely to continue following the implementation of the Real Estate (Regulation and Development) Act, 2016, which has led new supply being adjusted to demand as absorption has stayed ahead of new launches. This has led to a significant decline in unsold inventory in the top-8 cities. Mumbai Metropolitan Region, National Capital Region, Pune, and Bengaluru are exhibiting the most 'discipline' while markets like Hyderabad are seeing a higher build-up of unsold inventory, mainly due to oversupply, the brokerage said.

During this housing cycle, major listed developers have been able to double their market share to 15% between FY11 and FY25. Most major developers have reported a strong 37% compound annual growth rate in their pre-sales from FY21 to FY25 which has led to a collection growth of 33% for the period. Fundraising by a number of companies in the sector has led to industry-wide net debt falling 65% over FY17 to FY25. The absorption of new launches along with low-level inventory hangs at 20 months for the top eight cities and a rise in business development provides big developers with an opportunity to launch new projects, according to Emkay Global. The brokerage expects large players to continue to do well even if the housing cycle turns negative, with historical data suggesting that credible builders tend to gain market share during periods of uncertainty.  

Emkay Global expects the mid-sized real-estate companies Arvind Smartspaces and Sunteck Realty to register a 25-35% compound annual growth rate in their pre-sales, with Oberoi Realty expected to log 18% pre-sales compound annual growth rate from FY25 to FY28. Among large companies, Lodha Developers is expected to outperform its peers, registering a compound annual growth rate of 16% in its pre-sales despite a higher base while DLF is expected to log in compound annual growth rate of 6% in its pre-sales.

On Tuesday, the Nifty Realty index closed 0.2% lower at 892.05 points. Sobha Ltd. ended 1.3% higher and was the highest gainer in the index. Oberoi Realty ended nearly 1% higher while The Phoenix Mills and Godrej Properties ended slightly higher. Anant Raj ended nearly 3% lower, becoming the worst performer in the index, followed by Brigade Enterprises and Lodha developers, down around 1% each.  (Akshat Saksena)

Equity Alert: Indices in Europe gain in early trade; Bayer surges

MUMBAI--1500 IST--Equity indices in Europe rose in early trade Tuesday. Shares of Bayer surged after the US administration supported the German pharmaceutical company's court appeal. The pan-European STOXX 600 was marginally higher in early trade. Traders await European Union's flash inflation data for November due later in the day.

Germany's DAX Performance was the highest among European indices. Shares of German biotechnology company Bayer rose nearly 12% after the company won support from the Trump administration on Monday to curb US litigation related to its Roundup weedkiller, CNBC reported.

However, most healthcare stocks were down across the region. Shares of AstraZeneca fell over 1% and those of Novo Nordisk were down more than 2%. Meanwhile, utilities stocks led gains in Europe. Shares of wind energy giant Orsted rose nearly 3% and those of electric utilities company EDP rose more than 1%. 

Among other stocks, shares of Spanish lender Santander rose nearly 2% after the company sold a 3.5% stake in its Polish subsidiary Santander Polska for around $473 million, Reuters reported. Consumer discretionary company Kering SA was down nearly 1%. Manufacturing company Vallourec fell nearly 2%. Gaming operator company FDJ United declined over 4% after JPMorgan downgraded the lottery and online game operator's stock to 'underweight'.

Following were the levels of major European indices at 1435 IST:

(Arundathi A R)

Equity Alert: Swiggy up over 3% on report co to raise INR 100 bln next week

MUMBAI--1436 IST--Shares of Swiggy rose further Tuesday after Bloomberg reported that the company is planning to raise INR 100 billion through a qualified institutional placement of shares as early as next week. The company has shortlisted Indian units of Citigroup, JPMorgan Chase & Co., and Kotak Mahindra Capital Co. to manage the share sale, the news report said.

On Nov. 7, Swiggy's board had approved raising up to INR 100 billion through public or private offerings, including a qualified institutional placement, in one or more tranches.

Shares of the company rose 3.6% to an intraday high of INR 402.50. The shares had dipped into the red earlier in the session, but gained steadily before rising sharply after the Bloomberg report. Nearly 5.5 million shares of the company have changed hands so far on NSE.

Recommendations of all 12 brokerage firms available with Informist have a 'buy' or an equivalent rating on the stock with an average target price of INR 510.  (Eshitva Prakash)

Equity Alert: Indices stay lower; HDFC Bk, ICICI Bank, RIL continue to weigh

MUMBAI--1421 IST--Domestic equity indices remained lower, with losses in index heavyweights HDFC Bank, ICICI Bank, and Reliance Industries continuing to weigh on the Nifty 50. A fall in the rupee against the dollar to a record low also added to the pressure on the equity market.

At 1420 IST, the Nifty 50 was at 26041.25, down 134.50 points or 0.5% and the BSE Sensex was at 85180.02, down 461.88 points or 0.5%. Volatility in the market rose on the day of the expiry of derivatives contracts of the Nifty 50. India VIX, the market's fear gauge, was up around 1% at 11.7250.

The Nifty Pharma was up nearly 1% and was among the only two sectoral indices that traded with gains. Wockhardt, Glenmark Pharmaceuticals, Gland Pharma, Dr. Reddy's Laboratories, and Ajanta Pharma were up 1.0-2.2%. The World Health Organization Monday released its first guideline on the use of Glucagon-like Peptide-1 therapies for treating obesity as a chronic, relapsing disease, which is expected to boost demand for GLP-1 drugs globally. 

After hitting a fresh record high within 15 minutes of opening, the Nifty Auto index soon entered negative territory and remained marginally lower. Four of the 15 constituents of the index traded higher, while the rest dragged down the index. Bharat Forge, Hero MotoCorp, and Uno Minda were the top laggards in the index, down around 1% each.

Hero MotoCorp fell after hitting a fresh record high in early trade. The company Monday reported a 32% on-year rise in total two-wheeler sales in November after a contraction the previous month. Shares of Ashok Leyland, which also hit a fresh record high in early trade, traded around 1% higher. The company had reported a 29% on-year rise in its total vehicle sales in November, higher than the 16% on-year rise reported the previous month.  (Arya S. Biju)

Equity Alert: Asian indices end higher; KOSPI up over 2% after 2-day fall

MUMBAI--1400 IST--Barring those in mainland China, all other Asian indices closed higher Tuesday amid hope that the US Federal Reserve would cut interest rates at its meeting this month due to weak economic data. South Korea's KOSPI, which had closed lower for previous two sessions, led the gains in the region, while Japan's Nikkei 225 ended the session flat.

South Korea's KOSPI closed almost 2% higher. LS Electric Co. was the biggest gainer during the session, up nearly 7%. Woori Financial Group jumped 5.6%. HD Hyundai Electric Co. rounded off the list of top three movers, with a near 5% rise.

Among South Korean companies, Alteogen was the biggest laggard, down 4%. SK Biopharmaceuticals Co. closed over 2% lower. Metal producer Korea Zinc Co. was down almost 4%.

Glass manufacturing company Nippon Electric Glass Co. was the biggest gainer Tuesday, and ended up 9.9%. Japan ceramics company NGK Insulators rose 7.2%. Fanuc Corp., a factory automation company, completed the list of the top three movers, as shares surged 6.5%. Tokyo Electric Power Co. Holdings posted the largest decline, falling 6.7%, followed by Isetan Mitsukoshi Holdings, which closed 6.1% lower. Shares of Sumitomo Pharma Co. fell 5.7%.

On the currency front, the yen weakened 0.2% against the dollar. Japan Governor Kazuo Ueda Monday said the Bank of Japan would consider the "pros and cons" of raising interest rates at its next policy meeting. In the bond markets, the two-year Japanese government bond yield fell 1.10 basis point to 1.010% and the 10-year Japanese government bond yield fell 1.78 basis point to 1.861%.

Hong Kong's Hang Seng index closed almost flat. China's CSI 300 index and SSE Composite index ended down nearly 5%. 

Following were the levels of key Asian indices at 1338 IST:

(Arundathi A R)

Equity Alert: Asian Paints shares rise 2%; UBS upgrades co to 'neutral'

MUMBAI--1247 IST--Shares of Asian Paints rose almost 2% to an intraday high of INR 2,923.70. Global brokerage UBS upgraded its rating on the company to 'neutral' and raised its target price to INR 3,200 on the stock, according to a report from NDTV Profit. This comes after the shares of the company rallied mid-October after the sudden departure of rival Birla Opus' chief executive officer. 

The brokerage noted that Asian Paints reported a double-digit growth in its volumes, but also said that this rise was on a low base. While the brokerage expects that the worst of the company's disruption cycle to be over it said that a stock-run up brings with it the expectations of significant earnings growth. The brokerage expects market conditions to improve in the near-term, and is bullish on the company's long-term growth after the disruption cycle ends. 

The brokerage provided three possible scenarios for the company's performance going forward. In its 'base case' scenario competition would continue to persist but would not affect margins and the company would still be able to report a long-term earnings return of 12% while normalising the weak base which would support the target of INR 3,200 per share. In the 'bear case' the company growth would stay muted with fierce competition pressurising margins, which would lead to a lower valuation of INR 2,400. In the optimistic 'bull case' competition would ease and margins would revert to their historic highs, which would imply an increase in the company's valuation to INR 4,000, the report said. 

At 1247 IST, shares of Asian Paints traded nearly 2% higher at INR 2,917.90 on the National Stock Exchange. Around 806,417 shares of the company changed hands on the bourse for the session so far, almost quadruple the number of shares traded till the same time Monday. 

Of the 22 brokerage reports available with Informist on the company, 10 brokerages have a 'buy' rating on the stock with an average target price of INR 3,114, while six brokerages each have a 'hold' and 'sell' rating on the stock.  (Akshat Saksena)

Equity Alert: InterGlobe Aviation shares fall 2%; down 4% in three days

MUMBAI--1240 IST--Shares of InterGlobe Aviation fell nearly 2% to an over two-week low of INR 5,685 on the National Stock Exchange Tuesday. The stock was down for the third consecutive session, during which it lost almost 4%. The company Tuesday said Kerala Tax Department has denied it the input tax credit and also slapped a hefty penalty. Adding to worries, its airline IndiGo faced several flight delays over the weekend after a mandatory update for a few of its Airbus planes disrupted the airline's schedule. 

At 1221 IST, shares of the company were down almost 2% at INR 5,697 on the National Stock Exchange. Around 706,305 shares of the company changed hands so far, almost three-fold higher than the 241,959 shares traded till the same time Monday.

InterGlobe Tuesday said the Kerala Tax Department denied the input tax credits availed by the company and issued a demand order along with a penalty of INR 1.18 billion for 2018-19 (Apr-Mar) to FY22. For the quarter ended September, InterGlobe Aviation had reported the net loss of INR 26.14 billion on the revenue of INR 185.55 billion.

InterGlobe Aviation closed nearly 2% lower on Monday after plane-maker Airbus Saturday said intense solar radiation could corrupt data critical to flight control in a significant number of their A320 aircraft, which led to a delay in IndiGo flights. The company has, however, confirmed that no flights were cancelled due to these checks.

Of the 11 brokerage reports on the stock available with Informist, eight have a 'buy' rating with an average target price of INR 6,310. Two brokerages have a 'sell' rating while another has a 'hold' recommendation.  (Eshitva Prakash)

Equity Alert: Weakness in select pvt banks weighs on indices; PSU banks up

MUMBAI--1237 IST--Benchmark indices remained weak, weighed down by fall in index heavyweights ICICI Bank and Reliance Industries. Weakness in some private banks continued to weigh on the Nifty 50 index, while public sector banks lent some support.

At 1233 IST, the Nifty 50 was at 26068.60 points, down 107.15 points or 0.4%. The BSE Sensex was at 85277.81 points, down 364.09 points or 0.4%. Barring Nifty PSU Bank, Nifty Pharma, and Nifty IT, all other sectoral indices were in the red.

With NSE releasing its final guidelines to align with SEBI's weight concentration requirements, analysts expect the weightage of the top three constituents of the Nifty Bank index to be capped at 19%, 14% and 10%, respectively, CNBC-TV18 reported. Nuvama Alternative and Quantitative Research expects a drop in the weightage of HDFC Bank in the Nifty Bank index to 18.9% from its current weightage of 27.5% in four tranches, the report said. Similarly, it expects ICICI Bank's weightage in the sectoral index to drop to 14% from the current 23.1%. State Bank of India, on the other hand, is expected to see an increase in its weightage in the index to 10% from the current 9.4%. At 1227 IST, shares of SBI were up marginally, while those of HDFC Bank and ICICI Bank were down over 1% each.

Analysts also expect YES Bank and Union Bank of India to be included in the Nifty Bank index as part of these changes, which are likely to be effective from the close of Dec. 30, the report said. At 1227 IST, shares of YES Bank traded more than 1% higher and those of Union Bank of India were up over 3%.

Asian Paints rose over 1% and was the top gainer in the Nifty 50. The stock rose after global brokerage UBS upgraded it to 'neutral' from 'sell' and raised its target price to INR 3,200, according to media reports. While the brokerage believes that the worst of the disruption cycle is now behind for the company, it remains cautious that the gains in the stock have already priced in significant earnings expectations.  (Arya S. Biju)

Equity Alert: Indices fall more after opening a tad lower; RIL slips further

MUMBAI--1155 IST--Benchmark indices fell further Tuesday after opening slightly lower. Losses in index heavyweights Reliance Industries, ICICI Bank, and HDFC Bank weighed on the Nifty 50.

At 1153 IST, the Nifty 50 was at 26059.50 points, down 116.25 points or 0.4%. The BSE Sensex was at 85264.75 points, down 377.15 points or 0.4%. Most sectoral indices barring the Nifty PSU Bank traded in the red. Nifty India Defence and Nifty Media were the worst hit among sectoral indices, falling nearly 1% each. All broader market indices traded 0.1-0.3% lower, with small-cap indices falling the most.

Adding to the negative sentiment, the Indian rupee fell to a fresh record low of 89.9250 against the dollar, continuing its weak momentum from Monday. The fall in the currency came as banks persistently bought dollars on behalf of importers, according to dealers in the foreign exchange market.

Shares of InterGlobe Aviation fell over 1% and were the worst hit in the Nifty 50 index. The company Tuesday said that the Kerala tax department had denied input tax credit availed by the company and issued a demand order along with a penalty of INR 1.18 billion for 2018-19 (Apr-Mar) to FY22.  (Arya S. Biju)

Equity Alert: Vodafone Idea up 4% on minister's comments over AGR relief

MUMBAI--1145 IST--Shares of Vodafone Idea rose nearly 4% to an intraday high of INR 10.32 after Minister of Communications Jyotiraditya Scindia indicated that the Centre was close to finalising a deal in the next few weeks to provide relief to the company on the government's claim for adjusted gross revenue. Scindia's statement comes after the Supreme Court of India allowed the government to reconsider the Department of Telecommunications' demand of INR 94.50 billion of additional adjusted gross revenue till 2018-19 (Apr-Mar).

On Nov. 3, the apex court also allowed the government "to comprehensively reassess and reconcile all adjusted gross revenue dues" of the company until FY17, which would offer further relief to the company. Earlier, the court had only allowed the government to reconsider its additional gross adjusted revenue demand.

The Centre is awaiting a formal request by Vodafone Idea before going ahead on any relief measures, Scindia said in an interview with CNBC-TV18 earlier Tuesday. The court's judgment is recent and needs to be analysed carefully, he added. The Centre may be able to complete its assessment and give recommendations on the relief measures in a couple of weeks, with the specifics of the relief package likely to be announced by the end of the year, the telecom minister said. He emphasised that the apex court order was reserved specifically for Vodafone and that other companies seeking similar relief measures would have to approach the court.

At 1124 IST, shares of Vodafone Idea traded at INR 10.18 on the NSE, up 2.5%. Over 377.40 million shares of the company have changed hands on the bourse so far in the session.  (Akshat Saksena)

Equity Alert: Bajaj Housing Fin falls 9% as promoter to sell 2% stake

MUMBAI--1023 IST--Shares of Bajaj Housing Finance fell a little over 9% to an all-time low of INR 95 on the National Stock Exchange Tuesday. The company's shares plummeted after the company Monday said its promoter, Bajaj Finance, plans to sell around 2% in the company in single or multiple tranches in order to comply with the minimum public shareholding requirement. Bajaj Finance owns 88.7% of the company.  

Around 195 million shares, or about 2.4% of the company's shares, worth INR 18.90 billion, changed hands at INR 97 per share via a block deal window, according to media reports.

At 1011 IST, shares of the company were slightly off lows, but still traded almost 8% lower at INR 96.65 and extended two consecutive sessions of losses. The stock was the worst hit Nifty 500 constituent Tuesday. Over 331 million shares of the company have been traded so far on the NSE, up manifold from the 1.26 million shares traded till the same time Monday. 

Of the two brokerage reports available on the company with Informist, ICICI Securities has a 'buy' rating on the stock with a target price of INR 125, while Motilal Financial Services was 'neutral' on the stock with a target price of INR 120.  (Eshitva Prakash)

Equity Alert: Indices open tad lower; losses in HDFC Bank, ICICI Bank weigh

MUMBAI--0945 IST--Domestic benchmark indices opened slightly lower Tuesday after failing to hold on to the record highs they had hit Monday. The 50-stock index was dragged down by losses in index heavyweights ICICI Bank, HDFC Bank, and Reliance Industries, which more than offset the near 1% gain in other heavyweights Bharti Airtel and Infosys. 

At 0944 IST, the Nifty 50 was at 26081.10 points, down 94.65 points or 0.4%. The BSE Sensex was at 85305.84 points, down 336.06 points or 0.4%. On Monday, both the Nifty 50 and the 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 for the rest of the day and ended lower over Friday. 

Broader markets were mixed, with small-cap indices falling 0.2-0.3% as against the 0.2-0.3% rise seen in their mid-cap peers. A similar trend was seen among sectoral indices, with the Nifty PSU Bank, Nifty Oil & Gas, and Nifty IT leading gains, up 0.3-1.3%, while the Nifty Media and Nifty Financial Services were the top losers, falling 0.7% each.

The Nifty Auto index pared some of its early gains and traded 0.1% higher. The sectoral index had hit a fresh record high of 28099.65 points soon after opening, buoyed by strong monthly sales, boosted by the cut in the Goods and Services Tax rates, benign inflation, and robust wedding season demand. 

Shares of Vodafone Idea rose over 3% and were the top gainers in the Nifty 200 index. Shares of the company rose after telecommunications minister Jyotiraditya Scindia Monday indicated that the government might soon decide on the company's plea for relief from the additional adjusted gross revenue dues, according to a report by CNBC-TV18. The government holds around 49% in the debt-laden telecom company. Shares of Bajaj Housing Finance fell nearly 9% and were the worst hit in both the Nifty 200 and Nifty 500 indices after the company Monday said its promoter Bajaj Finance was planning to sell up to 2% stake in the company to meet minimum public shareholding norms.  (Arya S. Biju)

Equity Alert: Indices in Asia open higher; KOSPI up 2% on rise in auto shrs

MUMBAI--0835 IST--Barring mainland China, all other indices in Asia were higher in early trade Tuesday. South Korea's KOSPI led the pack of indices in the region on the back of a rise in shares of automobile companies after the US Secretary of Commerce Howard Lutnick confirmed that 15% lower US tariffs on South Korea will come into effect retroactively from Nov. 1.

South Korea's KOSPI advanced almost 2%. Shares of carmaker Hyundai Motor Co. were up over 4% and those of Kia Corp. gained 3%. US Commerce Secretary Howard Lutnick Monday confirmed that the general tariff rate on imports from South Korea, including on autos, would drop to 15% effective Nov. 1 because South Korea has introduced legislation in parliament to implement the country's strategic US investment commitments, Reuters reported. The US previously levied a 25% tariff on imports from South Korea. "We are also removing tariffs on airplane parts and will 'un-stack' Korea's reciprocal rate to match Japan and the EU," CNBC quoted as Lutnick as saying.

Inflation in South Korea ran slightly hotter-than-expected. Headline inflation in November was 2.4% year on year, according to government data on Tuesday, compared to 2.35% expected in a Reuters poll, CNBC reported. 

Financials, energy, and basic materials sectors drove the gains in Japan's benchmark indices. Mitsubishi Corp. was up nearly 1%. Japan-based robotics maker Fanuc Corp. was up nearly 8%. Diesel particulate filters manufacturer NGK Insulators rose almost 6%, and electrical equipment company Fujikura rose over 2%. The yield on the 10-year Japanese government bond rose to 1.88%, the highest since June 2008, amid growing speculation of an interest rate hike by Bank of Japan in the near term.

Following were the levels of key Asian indices at 0806 IST:

(Arundathi A R)

Equity Alert: Domestic indices expected to open lower, move in thin range

MUMBAI--0827 IST--India's equity indices are likely to open a tad lower on Tuesday and move in a thin range, after the recent record highs. The Indian rupee hitting a record low weighed on investor sentiment, especially amid expectations of foreign inflows to Indian market in the near term. However, analysts are positive that as long as there is a recovery in corporate earnings growth, the downside in indices would be limited. 

Some analysts expect investors to book profits in the coming sessions, while others said every dip was a buying opportunity. Analysts also said the volatility in the indices due to the expiry of weekly derivatives contracts would be relatively lower as it is the first week of the December series. 

The Nifty 50 is expected to open on a negative note and is likely to move within 26000-26400 points, Mandar Bhojane, senior research analyst at Chola Securities, said. The 50-stock index is likely to face strong resistance near 26,300, while strong support is seen around 26000 points, he added. 

At 0756 IST, the December contract of the GIFT Nifty was at 26320.50 points, down 25.5 points or 0.1%. On Monday, the Nifty 50 closed at 26175.75 points, down 27.20 points or 0.1%, after rising to a record high of 26325.80 points when the market had opened. The BSE Sensex closed the day at 85641.90 points, down 64.77 points or 0.1%.

On Monday, foreign investors were net sellers of Indian equities and sold shares worth around INR 11.71 billion. Domestic investors continued to be net buyers and bought stocks worth INR 25.58 billion.

Overnight in the US, benchmark indices closed slightly lower amid a rise in treasury yields and economic data showing tariffs continued to be a drag on the manufacturing sector. Investors await a delayed report of the Personal Consumption Expenditures Price Index for September, which is the US Federal Reserve's preferred inflation gauge, due later this week. This comes ahead of the US Fed's meeting scheduled next week. Most indices in Asia were up in early trade.  (Gopika Balasubramanium)

Equity Alert: US indices fall post 5-day winning run; utility, energy cos down

MUMBAI--0746 IST--Benchmark equity indices in the US ended lower Monday, snapping a five-day winning streak. US Treasury yields rose as traders anticipated slightly faster economic growth, aided by higher chances of the US Federal Reserve lowering interest rates at the central bank's policy meeting next week. Utilities, healthcare, and industrial stocks closed lower and cryptocurrency-related stocks slumped after Bitcoin fell 6% to trade below $86,000, exerting pressure on the stock market.  

American utility company First Solar and Exelon Corp. closed over 3% lower. Duke Energy Corp. ended nearly 3% lower. Healthcare major Pfizer was down nearly 2%. FedEx Corp., an industrial company in the region, closed nearly 1% lower.

Among cryptocurrency stocks, shares of Coinbase fell 5% and those of Strategy closed over 3% lower. On Monday, Bitcoin slid 6%, marking its worst day since March. Digital currency Bitcoin late last month fell below $90,000 for the first time since April and has since struggled to stay above that mark, CNBC reported. "Today's drop could be a combination of a deleveraging from crypto and risk assets tied to the facts that the rate cuts are priced and people are taking some profits," Reuters reported Wasif Latif, chief investment officer at Samarya Partners, as saying. 

Among artificial intelligence-related companies, Broadcom and Super Micro Computer lost 4% and 1%, respectively. Meanwhile, Synopsys closed almost 5% higher after AI chip company Nvidia said it had invested $2 billion in the semiconductor design software provider.

The US 10-year Treasury note yield was up around 7 basis points at 4.096% following weakness in Japanese and European government bonds in the wake of comments by Bank of Japan Governor Kazuo Ueda, who signalled that conditions were aligning for a possible rate hike, Reuters reported. Higher chances of an interest rate cut and consequently, faster economic growth, also pushed yields higher.

Market participants await the delayed September report on the Personal Consumption Expenditures Price Index, which is the Fed's preferred inflation gauge, on Friday. Traders are now pricing in a nearly 88% probability that the apex bank will cut key rates by a quarter percentage point at its policy meeting in December, according to the CME FedWatch tool. Chances of an interest rate cut have risen considerably from a month ago owing to dovish commentary by Fed officials and weaker-than-expected consumer data from the US. 

Following are the closing levels of US indices Monday:

(Arundathi A R)

End

US$1 = INR 89.87

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

Edited by Rajeev Pai

All prices from National Stock Exchange, unless otherwise specified.

All percentage changes for share prices are rounded off to the nearest whole number; percentage changes for index values are rounded off to one decimal place.

All times are Indian Standard Time.

NSE: National Stock Exchange
NYSE: New York Stock Exchange
NYMEX: New York Mercantile Exchange
SEBI: Securities and Exchange Board of India
RBI: Reserve Bank of India

Internet links:
Securities and Exchange Board of India - http://www.sebi.gov.in
Bombay Stock Exchange - http://www.bseindia.com
National Stock Exchange of India - http://www.nseindia.com
Directory of Indian government websites - http://goidirectory.nic.in
Indian Ministry of Finance - http://www.finmin.nic.in
Reserve Bank of India - http://rbi.org.in
Controller General of Accounts, Government of India - http://www.cga.nic.in
Government's Press Information Bureau - http://www.pib.nic.in

For users of real-time market data terminals, Informist news is available exclusively on the NSE Cogencis WorkStation.

Cogencis news is now Informist news. This follows the acquisition of Cogencis Information Services Ltd. by NSE Data & Analytics Ltd., a 100% subsidiary of the National Stock Exchange of India Ltd. As a part of the transaction, the news department of Cogencis has been sold to Informist Media Pvt. Ltd.

Informist Media Tel +91 (22) 6985-4000

Send comments to feedback@informistmedia.com

© Informist Media Pvt. Ltd. 2025. All rights reserved.