Key equity benchmarks fell sharply today, extending their losing streak to a third straight session. Sentiment weakened as the rupee slipped and FII outflows continued. Global cues were also soft. US market closed lower on rising Treasury yields, while Asian market posted only a mild rebound.
Expectations of an RBI rate cut faded after strong GDP data, and uncertainty around US-India trade added to the caution. The Nifty closed below 26,050, dragged down by banks and financials. The NSE's sectoral index realignment under SEBI's new rules triggered corrections in major banking counters.
The S&P BSE Sensex declined 503.63 points or 0.59% to 85,138.27. The Nifty 50 index lost 143.55 points or 0.55% to 26,032.20. In the past three consecutive trading sessions, the Sensex slipped 0.68%, while the Nifty fell 0.70%.
In the broader market, the S&P BSE Mid-Cap index shed 0.19% and the S&P BSE Small-Cap index rose 0.05%.
The market breadth was negative. On the BSE, 1,847 shares rose and 2,400 shares fell. A total of 210 shares were unchanged.
The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, slipped 3.41% to 11.23.
Economy:
India's industrial production growth slipped to a 14-month low of 0.4% in October, down sharply from 4% (quick estimate) in September 2025. The reduced growth can be attributed to fewer working days due to various festivals including Dussehra, Diwali and Chhath.
India's current account deficit moderated to $12.3 billion (1.3% of GDP) in Q2:2025-26 from $20.8 billion (2.2% of GDP) in Q2:2024-25, the RBI said on Monday.
Numbers to Track:
The yield on India's 10-year benchmark federal paper declined 0.11% to 6.568 as compared with the previous close of 6.575.
In the foreign exchange market, the rupee edged lower against the dollar. The partially convertible rupee was hovering at 89.9700 compared with its close of 89.5300 during the previous trading session.
MCX Gold futures for 5 December 2025 settlement shed 0.44% to Rs 1,26,750.
The US Dollar Index (DXY), which tracks the greenback's value against a basket of currencies, was up 0.10% to 99.51.
The United States 10-year bond yield declined 0.22% to 4.088.
In the commodities market, Brent crude for January 2025 settlement declined 15 cents or 0.24% to $63.02 a barrel.
Global Markets:
European shares advanced on Tuesday as investors awaited Spanish and Italian unemployment figures.
Eurozone inflation stood at 2.2% in November, marking a slight rise from the previous month, flash data from data agency Eurostat showed Tuesday. The latest consumer price index reading is just a shade above the European Central Bank's 2% target.
Asian indices ended mixed, despite growing expectations of a Federal Reserve rate cut next week, while Japanese stocks struggled amid signals the Bank of Japan may raise interest rates.
Shares of South Korean auto companies rose Tuesday after U.S. Secretary of Commerce Howard Lutnick confirmed that lower U.S. auto tariffs of 15% on South Korea would retrospectively come into effect, starting Nov. 1.
We are also removing tariffs on airplane parts and will 'un-stack' Korea's reciprocal rate to match Japan and the EU,' Lutnick said, according to an X post by the U.S. Department of Commerce.
South Korea's headline inflation in November rose 2.4% year on year, according to government data Tuesday. Core inflation, which strips out prices of fresh food and energy, rose 2% from a year earlier.
The latest figure is unchanged from October's inflation rate, supporting the case for the central bank to keep interest rates on hold. The Bank of Korea had kept rates unchanged at 2.5% for a fourth straight meeting last Thursday.
In US, all three key benchmarks snapped five-day gain streaks. Overnight, the S&P 500 lost 0.53% to end at 6,812.63, while the Nasdaq Composite shed 0.38% to finish at 23,275.92. The Dow Jones Industrial Average pulled back by 427.09 points, or 0.9%, to settle at 47,289.33.
Stocks in Spotlight:
The Nifty Bank index fell 0.68% to 59,273.80, slipping 0.80% in two consecutive sessions. ICICI Bank (down 1.17%), HDFC Bank (down 1.07%), Axis Bank (down 1.05%) and SBI (down 0.33%) were major losers today.
NSE Indices has rolled out a major overhaul of how some of India's most traded sectoral indices are constructed, aligning them with SEBI's enhanced risk-monitoring and eligibility norms for derivatives.
The Nifty Bank and Nifty Financial Services indices will see revised weightage rules that sharply restrict concentration among the top three constituents. Their weights will now be capped at 19%, 14% and 10% respectively, while non-F&O stocks will face a 4.5% individual cap and a 10% cumulative ceiling.
NSE Indices has expanded the Nifty Bank universe from a maximum of 12 stocks to 14, with selection driven by six-month average free-float market capitalisation and enhanced circuit-filter scrutiny. The new framework ensures that only stocks with lower instances of hitting price bands in the past six months qualify for inclusion.
In line with the revised criteria, Union Bank of India (+1.04%) and Yes Bank (+1.20%) have been added to the Nifty Bank index, with the inclusions taking effect from 31 December 2025.
Sun Pharma Advanced Research Company (SPARC) was locked in 20% upper circuit after the company announced that the U.S. District Court has granted summary judgement in favour of SPARC for Sezaby PRV. In a regulatory filing made during market hours today, the company stated that the U.S. District Court for the District of Columbia granted summary judgment in favour of SPARC in the matter of issuance of priority review voucher (PRV) associated with the approval of Sezaby.
Sun Pharma Advanced Research Company (SPARC) was locked in 20% upper circuit after the company announced that the U.S. District Court has granted summary judgement in favour of SPARC for Sezaby PRV. Sezaby is a benzyl alcohol and propylene glycol free formulation of phenobarbital sodium powder for injection. It was approved by the US FDA for the treatment of neonatal seizures.
Websol Energy System jumped 6.46% after the company announced that it has signed a memorandum of understanding (MoU) with Linton, a global leader in PV ingot and wafer equipment technology. As part of the collaboration, Websol plans to acquire PV ingot and wafer manufacturing equipment from Linton. Linton will also provide technical expertise, training, and skills development to Websol's team to ensure optimal operation of the equipment and related processes.
Mini Diamonds India surged 19.96% after the company announced that it has bagged an export order worth $1.50 million (approximately Rs 13.5 crore) from Hong Kong'based Jewellery Trendz.
Adani Ports and Special Economic Zone (APSEZ) slipped 0.95%. The company reported handling 41 MMT of cargo in November 2025, marking a 14% year-on-year (YoY) increase, driven by strong growth in containers (20% YoY) and dry cargo (10% YoY).
Hero MotoCorp shed 0.40%. The company has recorded 31% rise in total two-wheeler sales in November 2025, selling 604,490 units during the month as compared with 459,805 units dispatched in the same period last year.
NMDC added 0.92% after the company reported an 11.09% rise in iron ore production in November 2025 to 5.01 million tonnes (MT), compared to 4.51 MT recorded in the same month of the previous year.
GHV Infra Projects declined 2.12%. The company announced that it has secured an order worth Rs 109 crore from GHV (India) for the execution of civil, MEP, and finishing work for the buildings in Jamshedpur, Jharkhand.
Force Motors slipped 1.99%. The company's total sales climbed 52.94% to 2,883 units in November 2025 compared with 1,885 units sold in November 2024.
Bharat Dynamics shed 0.27%. The company has received orders worth Rs 2,462 crore from Indian Army. Majors orders received include ATGMs and SAM (Emergency Procurement).
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