NIFTY RECLAIMS 26,000 AS GLOBAL CUES SPARK BROAD GAINS

Key equity indices closed with strong gains today, lifted by positive global cues after China announced a fiscal push for 2026 and the US Federal Reserve cut interest rates on Wednesday. Investor mood stayed upbeat ahead of India�s retail inflation print due later in the day. The Nifty finished above the 26,000 mark, supported by strength in metal and consumer durables stocks.

The S&P BSE Sensex surged 449.52 points or 0.53% to 85,267.66. The Nifty 50 index added 148.40 points or 0.57% to 26,046.95.

Larsen & Toubro (up 1.71%), Bajaj Finance (up 1.15%) and Reliance Industries (up 0.72%) boosted the indices.

In the broader market, the S&P BSE Mid-Cap index rose 1.14% and the S&P BSE Small-Cap index added 0.65%.

The market breadth was strong. On the BSE, 2,593 shares rose and 1,593 shares fell. A total of 182 shares were unchanged.

Numbers to Track:

The yield on India`s 10-year benchmark federal paper fell 0.14% to 6.602 compared with previous session close of 6.611.

In the foreign exchange market, the rupee edged higher against the dollar. The partially convertible rupee was hovering at 90.2800 compared with its close of 90.3200 during the previous trading session.

MCX Gold futures for 5 February 2025 settlement rose 1.49% to Rs 134,430.

The US Dollar Index (DXY), which tracks the greenback`s value against a basket of currencies, was up 0.12% to 98.47.

The United States 10-year bond yield added 0.60% to 4.169.

In the commodities market, Brent crude for February 2025 settlement fell 18 cents or 0.29% to $61.10 a barrel.

Global Markets:

European stocks advanced on Friday as a largely positive close on Wall Street overshadowed weak U.K. growth data.

The U.K. economy unexpectedly contracted 0.1% in the three months to October, according to official figures released Friday. It contracted 0.1% as services output stalled, construction output fell 0.3% and production output fell 0.5%.

Most Asian markets ended higher, taking their cues from Wall Street after two major U.S. benchmarks set fresh records following the Federal Reserve�s widely expected rate cut.

The Fed lowered interest rates by 25 basis points on Wednesday and signaled a softer tone than markets had braced for. Chair Jerome Powell noted that the central bank will begin purchasing Rs 40 billion worth of Treasury bills each month, a move that injects additional liquidity and gently loosens financial conditions, giving risk assets more room to run.

Sentiment in Asia was further supported by signals from Beijing. China�s top leadership concluded its annual economic planning meeting by committing to broad support measures in the year ahead, with an emphasis on lifting consumption, stabilising the property market and strengthening domestic tech capabilities as the next five-year plan approaches in 2026.

On Wall Street, the Dow Jones Industrial Average and the S&P 500 notched new closing highs as investors shifted from high-growth tech names toward stocks more closely tied to U.S. economic expansion after the Fed�s policy action. The Dow advanced 1.34% to 48,704.01, buoyed by gains in Visa after an upgrade from Bank of America. The S&P 500 edged up 0.21% to finish at 6,901.00, while the Nasdaq Composite eased 0.25% to close at 23,593.86.

Stocks in Spotlight:

The Nifty Metal index jumped 2.63% to 10,536.45. The index rallied 4.19% in the three consecutive trading sessions.

Hindustan Zinc gained 7.34%, while Hindustan Copper rose 7.32%. National Aluminium Company advanced 5.3%, followed by NMDC with a 3.55% rise. Tata Steel climbed 3.38% and Hindalco Industries added 3.26%. Steel Authority of India (SAIL) gained 1.9%, JSW Steel rose 1.64%, Jindal Steel & Power added 1.59% and APL Apollo Tubes advanced 0.75%. Lloyds Metals gained 0.69%, Jindal Stainless (JSL) inched up 0.51% and Adani Enterprises added 0.28%.

Vedanta added 2.66% after the company announced that it has been declared the successful bidder for the Genjana Nickel, Chromium and PGE Block. This receipt of the successful bidder for the Genjana Nickel, Chromium and PGE Block under critical mineral auctions tranche III shall further strengthen the company�s critical minerals portfolio.

Dynacons Systems & Solutions surged 13.39% after the company announced that it has secured a prestigious Device-as-a-Service (DaaS) contract worth Rs 74.99 crore from Jammu & Kashmir Bank.

Astra Microwave Products advanced 0.25%. The company secured a procurement order for Doppler Weather Radars (DWRs) from the Indian Meteorological Department (IMD). The said order is valued at Rs 171.38 crore (inclusive of GST) and is expected to be completed within 18 months.

NBCC (India) rose 1.06%. The company announced that it has received new orders worth a total of Rs 289.39 crore, including major contracts from NALCO and SAIL Bokaro.

Tata Power Company rose 0.55%. The company announced that it has received a letter of intent (LoI) from REC for the acquisition of Jejuri Hinjewadi Power Transmission, a project SPV formed to develop a key 400 kV transmission corridor in Maharashtra.

PNB Housing Finance rallied 4.21% after the company�s board approved the appointment of Ajai Kumar Shukla as managing director & chief executive officer (MD & CEO) for period of 5 years with effect from 18 December 2025.

JSW Energy surged 5.30% after the company�s subsidiary, JSW Energy (Utkal) has signed a power purchase agreement (PPA) with multiple Karnataka DISCOMs for the supply of 400 MW of power starting 1 April 2026. The agreement spans 25 years at a tariff of Rs 5.78 per kWh.

IPO Update:

ICICI Prudential Asset Management Company received bids for 2,53,22,430 shares as against 3,50,15,691 shares on offer, according to stock exchange data at 16:51 IST on Friday (12 December 2025). The issue was subscribed 0.72 times. The issue opened for bidding on 12 December 2025 and it will close on 16 December 2025. The price band of the IPO is fixed between Rs 2,061 and 2,165 per share.

Park Medi World received bids for 33,83,48,492 shares as against 4,18,18,182 shares on offer, according to stock exchange data at 16:51 IST on Friday (12 December 2025). The issue was subscribed 8.09 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 18,65,00,320 shares as against 1,33,87,854 shares on offer, according to stock exchange data at 16:51 IST on Friday (12 December 2025). The issue was subscribed 13.93 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.

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