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Trendlyne Marketwatch
02 Dec 2025, 04:07PM
Market closes lower, dragged by weakness in media, metal and chemical stocks
By Trendlyne Analysis

 

 

Nifty 50 closed at 26,032.20 (-143.6, -0.6%), BSE Sensex closed at 85,138.27 (-503.6, -0.6%) while the broader Nifty 500 closed at 23,822.25 (-100.2, -0.4%). Market breadth is in the red. Of the 2,585 stocks traded today, 870 were on the uptick, and 1,660 were down.

Indian indices closed lower after falling throughout the day, dragged by weakness in media, metal and chemical stocks. The Indian volatility index, Nifty VIX, fell 3.4% and closed at 11.2 points. Solar panel and cell manufacturer Emmvee Photovoltaic closed 9.4% higher as its Q2FY26 net profit jumped 6.8x YoY to Rs 237.9 crore, helped by inventory destocking.

Nifty Smallcap 100 and Nifty Midcap 100 closed lower. Nifty Realty and Nifty Metal closed in the red. According to Trendlyne’s sector dashboard, Fertilizers emerged as the worst-performing sector of the day, with a fall of 1.3%.

European indices are trading mixed. Major Asian indices closed mixed. US index futures are trading in the green, indicating a positive start to the session. Marvell Technology reportedly nears a deal worth over $5 billion to acquire Celestial AI to boost its AI chip capabilities. Meanwhile, CrowdStrike, Bank of Nova Scotia, GitLab, and Pure Storage are set to report their earnings today.

  • Money flow index (MFI) indicates that stocks like Hero MotoCorp and GMR Airports are in the overbought zone.

  • Axis Direct maintains its 'Buy' rating on Biocon, with a target price of Rs 440 per share. This indicates a potential upside of 10.9%. The brokerage believes that the expansion and new product launches in biosimilars and generics, and a rich product mix, will drive revenue and profit growth. It expects the firm's revenue to grow at a CAGR of 19.8% over FY26-27.

  • GHV Infra Projects receives a Rs 109 crore order from GHV (India) to execute civil, mechanical, electrical, plumbing, and finishing work for buildings in Jamshedpur, Jharkhand.

  • Swiggy is rising as it reportedly plans a qualified institutional placement (QIP) of equity shares worth Rs 10,000 crore.

  • HM Bangur, Chairman of Shree Cements, says demand has improved in recent days following the Bihar state elections and the festive season. He projects FY26 volumes of about 36 metric tonnes and an EBITDA of Rs 1,100–1,200 per tonne. He also highlights a strategic shift, with the company moving from a purely value-focused model to a more balanced value-plus-volume approach.

  • Yes Bank and Union Bank of India rise after NSE announces their inclusion in the Bank Nifty index from December 31. The index will now include 14 stocks, up from the current 12, as part of a major methodology change.

  • Motilal Oswal retains its 'Buy' call on Adani Ports & SEZ, with a target price of Rs 1,770 per share. This indicates a potential upside of 16.9%. The brokerage believes that capacity enhancements at key ports, ongoing infrastructure projects, and global port acquisitions provide visibility for top-line growth. It expects the company's revenue to grow at a CAGR of 14% over FY26-28.

  • Ambuja Cements expands its clinker capacity as it commissions a 4 million tonne per annum (MTPA) brownfield unit in Bhatapara, Chhattisgarh, taking its total capacity to 66 MTPA.

  • Data from the Commerce Ministry shows India’s crude oil imports rose 10.3% YoY to 1.2 billion barrels in April–October, even as the import bill fell 4.3% to $82.9 billion amid lower prices. Analysts expect the trend of higher import volumes but softer values to persist, helped by ample global supply and steady demand. Russia remained India’s largest supplier, though its share eased as refiners diversified ahead of tighter Western sanctions, while US shipments grew the fastest, lifting its share to 6.9%.

  • NRB Bearings enters an agreement to form a 75:25 joint venture (JV) with Italy-based Unitec to manufacture a new range of cylindrical roller bearings (CRBs) for the industrial business.

  • Indian Bank lowers its one-year marginal cost of funds-based lending rate (MCLR) to 8.8% and its up-to-three-month treasury bills-linked lending rates (TBLR) to 5.4%, a reduction of 5 basis points, effective December 3.

  • Emmvee Photovoltaic Power surges as its Q2FY26 net profit jumps 6.8x YoY to Rs 237.9 crore, helped by inventory destocking. Revenue grows 2.8x YoY to Rs 1,149.4 crore, supported by an improvement in the photovoltaic (PV) modules segment. It features in a screener of stocks with improving RoE over the past two years.

  • India’s industrial production grows just 0.4% YoY in October, far below expectations and the weakest reading in 14 months. Nomura notes that labour-intensive, tariff-exposed sectors such as leather, textiles, and food products remain under significant pressure from the steep 50% Trump tariffs, with most categories posting sequential declines. It adds that even the first month of broad GST cuts has provided “little relief.”

  • Bajaj Housing Finance plunges to its 52-week low of Rs 95 per share as its promoter, Bajaj Finance, plans to sell a 2% stake (~16.7 crore shares) to meet the minimum public shareholding (MPS) requirement.

  • Indian Hotels' subsidiary, Roots Corp, acquires 51% stake each in ANK Hotels and Pride Hospitality for Rs 109.3 crore and Rs 81.2 crore, respectively.

  • Insolation Energy's wholly-owned subsidiary, Insolation Green Energy, receives orders worth Rs 516.1 crore from renowned companies to supply solar PV modules.

  • Jefferies maintains a 'Buy' rating on KFIN Technologies with a target price of Rs 1,460. The brokerage notes that the domestic mutual fund business remains the company’s primary growth engine, aided by market share gains from stronger onboarding, improved technology, and greater operational efficiency. It expects international revenue to pick up from Q1FY27 as client monetisation improves, and says management’s positive view on pricing should further support robust MF revenue growth.

  • Force Motors' November wholesales grow 52.9% YoY to 2,883 units, driven by a 59.3% YoY increase in domestic sales. However, exports decline 20.8% YoY to 118 units.

  • NACL Industries' board of directors approves raising Rs 250 crore through a rights issue of equity shares.

  • Tata Communications' subsidiary, Tata Communications (Netherlands) BV, enters an agreement to acquire a 51% stake in Commotion Inc for $25.5 million (~Rs 227 crore).

  • Nuvama initiates coverage on Voltamp Transformers with a 'Buy' rating and a target price of Rs 10,200. The brokerage believes the company is well-placed to benefit from growth in T&D, renewable energy, data centres, and semiconductors. It expects Voltamp to outperform other private-capex-linked peers. Despite softer margins, it projects EPS to grow 13–15% by FY27 and anticipates revenue to rise 18% YoY as capacity expands to 20,000 megavolt-ampere (MVA).

  • Hero MotoCorp's monthly wholesales grow 31% YoY to 6 lakh units in November due to higher motorcycle and scooter sales and domestic business. Exports surge by 69.6% YoY to 33,970 units during the month.

  • Amber Enterprises' subsidiary, IL JIN Electronics (India), acquires an 80% stake in Shogini Technoarts for Rs 506 crore.

  • Afcons Infrastructure is rising as it wins engineering, procurement & construction (EPC) orders worth Rs 884 crore for civil infrastructure works under its marine & industrial businesses.

  • Bharat Dynamics rises after securing orders worth Rs 2,461.6 crore from the Indian Army to supply anti-tank guided missiles (ATGMs) and surface-to-air missiles (SAMs).

  • Nifty 50 was trading at 26,141.50 (-34.3, -0.1%), BSE Sensex was trading at 85,325.51 (-316.4, -0.4%), while the broader Nifty 500 was trading at 23,914.90 (-7.6, 0.0%).

  • Market breadth is in the red. Of the 2,084 stocks traded today, 860 showed gains, and 1,142 showed losses.

Riding High:

Largecap and midcap gainers today include Balkrishna Industries Ltd. (2,445.60, 6.3%), Asian Paints Ltd. (2,954.40, 3.0%) and United Breweries Ltd. (1,720, 2.9%).

Downers:

Largecap and midcap losers today include Bajaj Housing Finance Ltd. (97.02, -7.2%), Indian Bank (859.45, -3.1%) and Bajaj Holdings & Investment Ltd. (11,049, -2.5%).

Volume Shockers

22 stocks in BSE 500 are trading on high volumes today.

Top high volume gainers on BSE included Balkrishna Industries Ltd. (2,445.60, 6.3%), Akzo Nobel India Ltd. (3,482.80, 5.6%) and Birlasoft Ltd. (404.95, 5.1%).

Top high volume losers on BSE were Bajaj Housing Finance Ltd. (97.02, -7.2%), Bajaj Holdings & Investment Ltd. (11,049, -2.5%) and Bikaji Foods International Ltd. (700.65, -2.1%).

Gujarat State Petronet Ltd. (298.45, 2.7%) was trading at 102.4 times of weekly average. C.E. Info Systems Ltd. (1,734.80, 3.6%) and Gujarat Gas Ltd. (403.25, 1.7%) were trading with volumes 12.6 and 11.0 times weekly average respectively on BSE at the time of posting this article.

BSE 500: highs, lows and moving averages

15 stocks hit their 52 week highs, while 20 stocks were underachievers and hit their 52 week lows.

Stocks touching their year highs included - Ashok Leyland Ltd. (160, -0.2%), Asian Paints Ltd. (2,954.40, 3.0%) and Bank of Baroda (296.90, 0.5%).

Stocks making new 52 weeks lows included - Bata India Ltd. (964.70, -1.0%) and Chambal Fertilisers & Chemicals Ltd. (438.95, -0.6%).

18 stocks climbed above their 200 day SMA including Akzo Nobel India Ltd. (3,482.80, 5.6%) and Birlasoft Ltd. (404.95, 5.1%). 11 stocks slipped below their 200 SMA including Metro Brands Ltd. (1,125.30, -3.7%) and Chalet Hotels Ltd. (879.95, -1.9%).

 
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