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Informist, Friday, Dec. 5, 2025                                      Tel +91 (22) 6985-4000

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Equity Alert: Indices choppy ahead of RBI's MPC meet outcome

 

MUMBAI--0952 IST--Benchmark equity indices swung between gains and losses after opening slightly lower ahead of the outcome of Reserve Bank of India's Monetary Policy Committee meeting later in the day. Shares of select banks, financial services, and information technology companies remained higher.

 

The Street would be focussed on RBI Governor Sanjay Malhotra's speech that starts at 1000 IST. Market participants' views are divided on whether the RBI will reduce interest rates in the meeting. The Street will keenly watch whether the RBI revises its GDP growth projections for the current financial year, especially after the surprise GDP growth of 8.2% in the September quarter. Currently, the central bank expects a GDP growth of 6.8% for FY26. 

At 0939 IST, the Nifty 50 was at 26033.60 points, up 0.15 points. The BSE Sensex was at 85246.08 points, up 19.24 points. While all broader market indices were in the red, sectoral indices remained mixed. Nifty IT, Nifty Realty, and Nifty Auto were up 0.2-0.4% and were the top gainers among the sectoral indices, while Nifty Media and Nifty Metal were the worst hit, down 0.5-0.6%. 

 

Most information technology stocks rose, extending their gains for the third straight session buoyed by rupee depreciation and reinforced expectations of a rate cut by the US Fed next week. The rupee's depreciation is favourable for IT companies as more than half of their revenue comes from clients in the US. Among individual stocks, InterGlobe Aviation fell over 1% and was the top laggard in the Nifty 50. Global brokerage Morgan Stanley has cut its target price on InterGlobe Aviation by more than 2% to INR 6,540. (Arya S. Biju)

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Equity Alert: Indices expected to open tad higher, MPC meet outcome in focus

 

MUMBAI--0836 IST--Benchmark equity indices are likely to open slightly higher Friday as indicated by the futures contract of GIFT Nifty. Investors will track the outcome of the Reserve Bank of India's Monetary Policy Committee meeting. Market participants are split on expectations of a rate cut. However, a depreciating currency would continue to exert some pressure on equities, analysts said. 

 

The Nifty 50 is expected to move between 25980 and 26170 points and there would be some upside for rate cut-sensitive sectors such as banking and automobiles, said Anshul Jain, head of research at Lakshmishree Investment and Securities. He expects the RBI to cut the repo rate.

 

The December contract of the GIFT Nifty indicates a higher opening for the 50-stock index. At 0809 IST, the contract was at 26185 points, up 4 points. The Nifty 50 closed Thursday's session at 26033.75 points, up 47.75 points or 0.2%. The 50-stock index managed to close above its crucial support of 25900 points. The BSE Sensex closed at 85265.32 points, up 158.51 points or 0.2%. Analysts said investors would view each dip as a buying opportunity.

 

Higher volatility is likely as the RBI will announce its monetary policy, Vipin Kumar, assistant vice president – technical and derivatives at Globe Market Capital, said. Kumar expects the Nifty 50 to find support around 25930-25850 points and face resistance around 26100 points in Friday's session. "Sustenance above 26150 (points) will reverse the short-term direction in favour of bulls," Kumar said.

 

Overnight, US indices ended the session largely flat. With the November payrolls data scheduled for release after the US Federal Reserve's December meeting due to the extended government shutdown, investors looked to other indicators to gauge the labour market, which has given a mixed view. A Labor Department report showed initial jobless claims dropped to their lowest level in more than three years, although market participants suggested the decline could have been in part due to the Thanksgiving holiday, Reuters reported. However, hope of a cut in the federal funds rate persists. In Asia, most equity indices were lower in early trade, barring South Korean and Australian indices, which were trading higher.  (Gopika Balasubramanium)

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Equity Alert: Morgan Stanley cuts InterGlobe target price 2% on rising costs

 

MUMBAI--0825 IST--Global brokerage Morgan Stanley has cut its target price on InterGlobe Aviation by more than 2% to INR 6,540 from INR 6,698, according to ET Now's post on social media platform X. The brokerage also cut its earnings before interest, tax, depreciation, amortisation estimates and its earnings per share estimate for the company, but maintained an 'overweight' rating.

The IndiGo airlines owner is facing headwinds from higher costs, which is a sector-wide phenomenon, the brokerage said. Morgan Stanley slashed its EBITDA estimates for the company by 1-4% from 2025-26(Apr-Mar) through FY28 as it argued that better yields from its services were unable to fully offset higher staff and management costs. The brokerage, however, expects a gradual increase in fares to partially offset this rise in expenses. The brokerage also cut its earnings per share estimate for the company by 20?ch in FY27 and FY28 on the back of higher depreciation and finance costs. The company's capacity also remains constricted, according to the brokerage. A tight supply, an elevated cost per available seat kilometre, and rising revenue from international operations are expected to support the company's valuation multiples, the brokerage said. 

On Thursday, shares of InterGlobe Aviation ended almost 3% lower at INR 5,436.50 after the Directorate General of Civil Aviation questioned the company over flight delays and cancellations. The company's shares have declined more than 8% in the last five trading sessions. Owing to scheduling delays, several IndiGo flights have been cancelled over the past few days as a pilot shortage disrupted its operations following the enforcement of the new flight duty time limitation rules. 

 

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

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Equity Alert: Asian indices open lower on subdued cues from Wall Street

 

MUMBAI--0820 IST--Most equity indices in Asia were down in early trade Friday, tracking overnight subdued cues from Wall Street. Japan's Nikkei 225 and broader Topix were the major drags among all indices. The Nikkei 225 fell after closing with gains for the previous three straight sessions. South Korea's KOSPI and Australia's SP/ ASX 200 indices opened higher.

 

Japan's Nikkei 225 and broader Topix were down over 1%. "A weaker-than-expected spending data underscored the scourge of inflation as bets grew that the Bank of Japan would hike interest rates," Reuters reported. The yield on the Japanese 10-year government bond rose to 1.94%, the highest since July 2007, CNBC reported, citing data from London Stock Exchange Group.

 

Shares of Soft Bank rose nearly 4%. Masayoshi Son, the bank's chief executive officer, downplayed the decision to offload the conglomerate's entire Nvidia stake, saying he "was crying" over parting with the shares, CNBC reported.  

 

Market participants will keep an eye on the upcoming Reserve Bank of India's rate decision. The US personal consumption expenditures price index for September, due later in the day, is also in focus. "Forecasts are centred on a 0.2% rise in the core measure, leaving the annual rate unchanged at 2.9%," according to a Reuters report. 

 

Following were the levels of key Asian indices at 0816 IST:

 

Index	Level	Change in %
CSI 300 Index	4540.59	(-)0.13
Hang Seng Index	25828.04	(-)0.42
Nikkei 225 Day	50452.04	(-)1.13
TOPIX FIRST SECTION	3357.77	(-)1.19
KOSPI	4054.79	0.65
FTSE Singapore Strait Times	4523.48	(-)0.26
S&P/ASX 200 Index	8630.8	0.14

 

(Arundathi A R)

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Equity Alert: US indices end mixed Thu; Dow Jones ends lower after 2-day rise

 

MUMBAI--0740 IST--The S&P 500 and Nasdaq Composite ended slightly higher Thursday due to heightened hopes of a cut in key interest rates by the US Federal Reserve at its meeting next week. The Dow Jones Industrial Average index, which closed with gains in the previous two sessions, ended slightly lower. Both the S&P 500 and Nasdaq Composite indices ended higher for the eighth time in last nine sessions.

 

Market participants tracked the latest weekly jobless claims numbers, which showed jobless claims for the week ended Nov. 29 totalled a seasonally adjusted 191,000, down 27,000 from the prior week and below the Dow Jones consensus estimate of 220,000, CNBC reported.

 

Traders are now pricing in an 87% chance of an interest rate cut at the US Federal Reserve's meeting this month, higher than a near 67% chance a month ago, according to the CME Fedwatch tool.

 

"Everybody's waiting around to see what the Fed thinks with any of this data that they've seen come in because the last comments from Fed Chair Jerome Powell were a little bit on the hawkish side, but cuts are fully expected," Reuters reported, quoting Mike Dickson, head of research and quantitative strategies at Horizon Investments, as saying.

 

Shares of Amazon fell over 1%, which limited further advance in the S&P 500 index. The company said it was in discussions with the US Postal Service about their future relationship and was considering its options before its contract expires next year, Reuters reported.

 

Among the 11 major sectors in the S&P 500 index, the consumer staples index was the worst performer. This was led by a near 5?ll in Kroger Co. after the supermarket chain narrowed its annual sales forecast and missed quarterly sales estimates, Reuters reported. The US-based Snowflake fell nearly 12?ter the cloud data analytics company's fourth-quarter product revenue forecast was below the growth expectations of investors. 

 

Meta Platforms rose over 3% following a Bloomberg report that the Facebook parent planned cuts of up to 30% of its Metaverse budget, Reuters reported. Hormel Foods advanced almost 4% after the company forecast annual profit above estimates.

 

Following are the closing levels of US indices Thursday:

 

Index	Level	Change in %
S&P 500	6857.12	0.11
NASDAQ Composite	23505.14	0.22
Dow Jones Industrial Average	47850.94	(-)0.07

 

(Arundathi A R)

 

US$1 = INR 89.85

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

 

Edited by Deepshikha Bhardwaj

 

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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