BENCHMARKS SLIP FOR THIRD DAY AS GLOBAL JITTERS WEIGH ON SENTIMENT

The domestic equity benchmarks slipped for a third straight session, ending with modest losses after a volatile day of trade. Indices swung between gains and declines as investors booked profits ahead of the U.S. Federal Reserve`s policy decision. The Nifty closed below the 25,800 mark, dragged by consumer durables, IT and financial services stocks.

Global sentiment remained fragile as rising Japanese bond yields and indications of potential BOJ tightening triggered risk-off moves across emerging markets. Focus now shifts to the U.S. Fed meeting, where a 25-bps rate cut is widely expected, though mixed economic signals may curb hopes of aggressive easing in 2026.

Indian market mirrored this caution, weighed down by persistent FII outflows, a weakening rupee and uncertainty surrounding U.S.-India trade negotiations.

The S&P BSE Sensex declined 275.01 points or 0.32% to 84,391.27. The Nifty 50 index fell 81.65 points or 0.32% to 25,758. In the three trading sessions, the Nifty and Sensex declined 1.54% and 1.63%, respectively.

Interglobe Aviation (down 3.12%), ICICI Bank (down 0.78%) and HDFC Bank (down 0.65%) were major drags today.

The broader market underperformed the frontline indices. The S&P BSE Mid-Cap index fell 1.08% and the S&P BSE Small-Cap index declined 0.58%.

The market breadth was negative. On the BSE, 1,898 shares rose and 2,289 shares fell. A total of 155 shares were unchanged.

The NSE`s India VIX, a gauge of the market`s expectation of volatility over the near term, fell 0.36% to 10.91.

Numbers To Track:

The yield on India`s 10-year benchmark federal paper jumped 0.27% to 6.636 compared with previous session close of 6.618.

In the foreign exchange market, the rupee edged lower against the dollar. The partially convertible rupee was hovering at 89.9650 compared with its close of 89.8750 during the previous trading session.

MCX Gold futures for 5 February 2025 settlement fell 0.16% to Rs 129,900.

The US Dollar Index (DXY), which tracks the greenback`s value against a basket of currencies, was down 0.10% to 99.14.

The United States 10-year bond yield advanced 0.50% to 4.210.

In the commodities market, Brent crude for January 2025 settlement rose 8 cents or 0.13% to $63.02 a barrel.

Global Markets:

Most European market declined while on Wednesday as global investors gear up for the U.S. Federal Reserve�s interest rate decision.

Asian market ended lower as investors parsed China`s inflation data and awaited the Federal Reserve�s interest rate decision.

China`s consumer prices edged up 0.7% from a year earlier, its highest level since February last year. The increase followed a 0.2% rise in October. Factory-gate prices fell 2.2% in November from a year earlier. That was compared with a 2.1% fall in October.

Traders are looking ahead to the Federal Reserve`s closely watched interest rate announcement on Wednesday stateside, the final one of the year. Markets largely expect the Fed to trim its benchmark overnight lending rate by another 0.25%, matching the cuts made in September and October.

Overnight in the U.S., the S&P 500 closed relatively unchanged. The broad market index traded around the flatline, slipping just 0.09% to close at 6,840.51, while the Nasdaq Composite gained 0.13% to end the day at 23,576.49. The Dow Jones Industrial Average fell 179.03 points, or 0.38%, to finish at 47,560.29. The 30-stock index was dragged down by a decline in JPMorgan shares on higher-than-expected 2026 expense projections.

Stocks in Spotlight:

InterGlobe Aviation, the operator of IndiGo, fell 3.12% after the government directed the airline to trim 10% of scheduled flights following more than 2,000 cancellations last week.

Tata Steel gained 1% to Rs 162.20 after a foreign brokerage reaffirmed its �Buy� rating on the metal major, even as it trimmed the target price to Rs 200 from Rs 210.

Billionbrains Garage Ventures (Groww) slumped 2.47% to Rs 146 as the one-month shareholder lock-in period came to an end, unlocking a fresh tranche of equity for potential trading. Roughly 14.92 crore shares, amounting to about 2% of the company`s outstanding equity, are now eligible for trading following the expiry of the lock-in, according to media reports. The lock-in expiry does not automatically mean these shares will be sold, only that holders are now free to trade them.

IRB Infrastructure Developers added 1.21% after the company, along with its Infrastructure Investment Trusts (InvITs), reported a 16% jump in toll revenue to Rs 716.1 crore in November 2025 compared with Rs 618 crore in November 2024.

AU Small Finance Bank (SFB) added 2.30% after the bank received an approval from the Department of Financial Services, Ministry of Finance, to raise its foreign investment limit from 49% to 74%.

Zydus Lifesciences shed 0.10%. The company announced the launch of Zyrifa, a biosimilar of Denosumab 120 mg, aimed at improving access to advanced bone-health treatments.

Zaggle Prepaid Ocean Services added 1.49% after the company announced that it has entered into an agreement with Mastercard Asia/Pacific Pte.

Sri Adhikari Brothers Television Network rallied 2.72% after the company signed a memorandum of understanding (MoU) with the Government of Telangana, to develop an AI & Hyperscale green data centre campus in Telangana.

Onix Solar Energy hit an upper circuit of 5% after the company announced that it has received a letter of intent (LoI) worth Rs 148.80 crore from Vikran Engineering for the supply of non-DCR TopCon 620 Wp solar modules.

New Listing:

Shares of Meesho were at Rs 170.20 on the BSE, a premium of 53.33% compared with the issue price of Rs 111.

The scrip was listed at Rs 161.20, a premium of 45.23% to the issue price. The stock has hit a high of Rs 177.55 and a low of Rs 161.20. On the BSE, over 3.30 crore shares of the company were traded in the counter.

Shares of Aequs were at Rs 151.50 on the BSE, a premium of 22.18% as compared with the issue price of Rs 124.

The stock was listed at Rs 140, a premium of 12.9% to the issue price. The stock has hit a high of 157 and a low of 135.50. On the BSE, over 1.11 crore shares of the company were traded in the counter.

Shares of Vidya Wires were at Rs 53.14 on the BSE, representing a premium of 2.19% as compared with the issue price of Rs 52.

The stock debuted at Rs 52.13 on the BSE, up 0.25% over the issue price. The stock has hit a high of 58.48 and a low of 50.09. On the BSE, over 1.19 crore shares of the company were traded in the counter.

IPO Update:

Park Medi World received bids for 2,13,74,728 shares as against 4,18,18,182 shares on offer, according to stock exchange data at 16:42 IST on Wednesday (10 December 2025). The issue was subscribed 0.51 times. The issue opened for bidding on 10 December 2025 and it will close on 12 December 2025. The price band of the IPO is fixed between Rs 154 and 162 per share.

Nephrocare Health Services received bids for 16,34,592 shares as against 1,33,87,854 shares on offer, according to stock exchange data at 16:42 IST on Wednesday (10 December 2025). The issue was subscribed 0.12 times. The issue opened for bidding on 10 December 2025 and it will close on 12 December 2025. The price band of the IPO is fixed between Rs 438 and 460 per share.

Corona Remedies received bids for 62,52,88,958 shares as against 45,71,882 shares on offer, according to stock exchange data at 16:42 IST on Wednesday (10 December 2025). The issue was subscribed 136.77 times. The issue opened for bidding on 8 December 2025 and it will close on 10 December 2025. The price band of the IPO is fixed between Rs 1,008 and 1,062 per share.

Wakefit Innovations received bids for 9,13,74,040 shares as against 3,63,53,276 shares on offer, according to stock exchange data at 16:42 IST on Wednesday (10 December 2025). The issue was subscribed 2.51 times. The issue opened for bidding on 8 December 2025 and it will close on 10 December 2025. The price band of the IPO is fixed between Rs 185 and 195 per share.

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