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Informist, Wednesday, Dec. 3, 2025                                      Tel +91 (22) 6985-4000

Equity Alert: Indices in red after positive open as rupee hits fresh low

MUMBAI--0950 IST--Domestic equity indices fell soon after opening slighty higher Wednesday as the Indian rupee fell past the psychologically-crucial 90-per-dollar level. Losses in shares of consumer and financial services companies dragged the indices down as the three-day monetary policy meeting of the Reserve Bank of India gets underway on Wednesday.

At 0947 IST, the Nifty 50 was at 25942.60 points, down 89.60 points or 0.3%. The BSE Sensex was at 84898.03 points, down 240.24 points or 0.3%. All indices in the broader market remained under selling pressure, down around 0.3-0.4%. Barring the Nifty IT, all other sectoral indices were in the red, with Nifty PSU Bank, Nifty FMCG, Nifty India Defence, Nifty Consumer Durables, and Nifty Auto being the worst hit, down around 1% each. Informations technology stocks gained, tracking their peers on Wall Street. 

The rupee continued its descent against the dollar, hitting a fresh record low of 90.14000 a dollar Wednesday as banks continuously bought dollars on behalf of importers, according to dealers in the foreign exchange market. Delay in a trade deal between India and the US is the primary reason for the sharp weakness in the Indian unit, according to them. 

Shares of Angel One fell over 5%, the worst-performing stock in the Nifty 500 index, as the company's gross client acquisition in November fell sharply on a year-on-year basis, even though its client base continued to grow. It also saw an on-year decline in its average daily orders and the number of orders during the previous month at 6.17 million and 117.30 million, respectively. (Arya S. Biju)

Equity Alert: Seen slightly higher at open, RBI MPC's 3-day meeting in focus

MUMBAI--0834 IST--Headline indices are likely to open slightly higher on Wednesday. The three-day meeting of the Reserve Bank of India's Monetary Policy Committee that gets underway later in the day will be in focus. Analysts are divided on whether the central bank will cut interest rates at this policy meeting.  

The Nifty 50 is expected to open flat or marginally higher, Mandar Bhojane, technical analyst at a domestic broking firm, said. The index is likely to move within the 26000-26400 points range with resistance likely at 26200 points and strong support at 25850 points, he added. 

The December contract of the GIFT Nifty indicated a positive opening for the indices. At 0806 IST, the contract was at 26190 points, down 1 point. This was over 150 points higher than the Nifty 50's close Tuesday.

On Tuesday, foreign investors were net sellers of Indian stocks, selling shares worth around INR 36 billion. Domestic investors continued to be net buyers and purchased shares of Indian companies worth INR 46.46 billion.

On Tuesday, the Nifty 50 ended at 26032.20 points, down 143.55 points or 0.6%. The 50-stock index fell below 26000 points intraday for the first time in four sessions. The BSE Sensex also closed 0.6% lower at 85138.27 points. "As long as Nifty (50) sustains above the 26,000 demand band, sentiment is likely to stay sideways, with dips expected to attract fresh buying," said Dhupesh Dhameja, derivatives research analyst at SAMCO Securities.

On Tuesday, indices in the US closed higher as technology stocks rose due to increased expectations of an interest rate cut by the US Federal Reserve. Expectations of a quarter-point rate cut at the Fed's meeting are at over 89%, according to CME's FedWatch Tool, higher than bets of 63% a month ago. In Asia, barring Japan's Topix and Hong Kong's Hang Seng, all the other indices traded with gains. South Korea's Kospi was up over 1% and led the gains in the region. (Gopika Balasubramanium)

Equity Alert: Indices in Asia open higher; KOSPI leads for second day 

MUMBAI--0808 IST--Most equity indices in Asia were higher in early trade Wednesday, tracking overnight gains on Wall Street. South Korea's KOSPI led the pack of gainers in the region for the second straight session. Hong Kong's Hang Seng index and Japan's broader TOPIX fell in early trade.

"The narrowing in spreads and movement in the yen may have resurfaced some of the carry trade fears and unwinding of leveraged positions," Reuters quoted Kerry Craig, global market strategist at JP Morgan Asset Management, as saying. Japanese government bonds continued to face pressure as investors ramped up bets of a rate hike by Bank of Japan later this month.

South Korea's KOSPI rose over 1% and the country's revised third quarter GDP data indicated that the economy grew 1.8% on year, compared to an estimate of a 1.7% rise, CNBC reported, citing data from the central bank.

Australia's S&P/ASX 200 was marginally higher in early trade. The country's third-quarter economic growth missed analysts' expectations, but still clocked its fastest expansion in about two years, CNBC reported. The country's GDP expanded 2.1% year on year, but missed economists' forecast of 2.2% growth.

Following were the levels of key Asian indices at 0745 IST:

(Arundathi A R)

Equity Alert: US indices rise on rate cut hopes, gains in technology cos 

MUMBAI--0735 IST--Benchmark equity indices in the US ended higher Tuesday amid hope that the US Federal Reserve will cut interest rates at its meeting later this month as economic data from the US continues to appear weak. Gains in technology stocks aided the rise of the indices. The technology-heavy NASDAQ Composite index gained the most among its benchmark peers on Tuesday.

"Recent data pointed to a gradually cooling economy, and policymakers had urged caution on rate cuts, warning that inflation pressures could be rekindled. But comments from several Fed officials in recent days sent market expectations soaring for a rate cut at the central bank's December meeting," Reuters reported.

Large-cap technology companies such as Apple, Nvidia, and Microsoft drove the gains in the indices. Shares of Apple closed over 1% higher and those of Nvidia and Microsoft rose nearly 1%. Shares of Intel Corp. jumped nearly 9%. Mass media and entertainment conglomerate Warner Bros Discovery ended nearly 3% higher after reports that the company received a second round of bids, including an offer from Netflix, Reuters reported.

Boeing closed over 10% higher after the plane maker said it expected higher deliveries for its 737 and 787 jets next year. Boeing also lifted the S&P 500 industrials index 0.9%, the top performer among 11 major sectors in the S&P index.

Market participants are focussing on the appointment of the next US Fed Chair when incumbent Jerome Powell's term ends next year. Traders await a 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 an over 89% 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.

Following are the closing levels of US indices Monday:

(Arundathi A R)

US$1 = INR 90.09

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

Edited by Avishek Dutta

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.

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