Nifty 50 opens in the red, after losing 87.8 points in the pre-opening session. Indian indices closed flat on Monday. FIIs sold shares worth Rs 1,171.3 crore, while DIIs invested Rs 2,558.9 crore in Indian equities on the same day.

Nifty Smallcap 100 and Nifty Midcap 100 open flat. Nifty Consumer Durables and Nifty Bank open lower. Nifty IT opens flat despite the tech-heavy Nasdaq 100 index closing 0.4% lower on Monday.

European indices ended mixed on Monday. Major Asian indices are trading mixed. US indices closed lower on Monday. The US’ manufacturing PMI slipped to 48.2 in November, driven by declines in new orders and employment, marking the ninth straight month of contraction. The softer economic data strengthen expectations of a 25 bps cut during the Fed's December meeting.

• 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.”

  #MarketsWithMC | Nomura flags weakness as industrial growth hits 14-month low despite strong GDP; Trump tariffs blunt GST relief@a_shaleen writes ????https://t.co/d33z52AQ73

  — Moneycontrol (@moneycontrolcom) December 2, 2025

• 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.

  #BrokerageRadar: #Jefferies maintains 'Buy' on #KFINTech with Price Target of Rs 1460
  
  For more, visit our Research Reports section: https://t.co/x9gNkEkYp6 pic.twitter.com/0My9taVI32

  — NDTV Profit (@NDTVProfitIndia) December 1, 2025

• 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).

  #BrokerageRadar | Nuvama on Voltamp: Initiates Buy with target price ?10,200; well-positioned to ride T&D, RE, data-centre and private-capex upcycle@Nuvama_Wealth pic.twitter.com/xzWaaU0af1

  — ET NOW (@ETNOWlive) December 2, 2025

• 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. (2,351.60, 2.2%), Union Bank of India (157.49, 2.1%) and Hitachi Energy India Ltd. (22,600, 1.9%).

Downers:

Largecap and midcap losers today include Bajaj Housing Finance Ltd. (95.10, -9.0%), Bajaj Holdings & Investment Ltd. (11,155, -1.6%) and HDFC Bank Ltd. (988.80, -1.3%).

BSE 500: highs, lows and moving averages

7 stocks overperformed with 52 week highs, while 12 stocks hit their 52 week lows.

Stocks touching their year highs included - Bank of Baroda (298.80, 1.1%), Hero MotoCorp Ltd. (6,297, 0.0%) and Punjab National Bank (126.79, 1.2%).

Stocks making new 52 weeks lows included - Bata India Ltd. (972.65, -0.1%) and Colgate-Palmolive (India) Ltd. (2,158.60, 0.3%).

10 stocks climbed above their 200 day SMA including Wockhardt Ltd. (1,496.60, 1.7%) and Aegis Logistics Ltd. (775.25, 1.0%). 6 stocks slipped below their 200 SMA including Cello World Ltd. (579.45, -1.2%) and ICICI Bank Ltd. (1,374, -1.2%).