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Trendlyne Marketwatch
03 Dec 2025, 03:59PM
Market closes lower as the rupee hits an all-time low

 

 

Nifty 50 closed at 25,986 (-46.2, -0.2%), BSE Sensex closed at 85,106.81 (-31.5, 0.0%) while the broader Nifty 500 closed at 23,716.30 (-106.0, -0.4%). Market breadth is overwhelmingly negative. Of the 2,595 stocks traded today, 798 were in the positive territory and 1,750 were negative.

Indian indices closed lower after falling in the morning session as the Indian rupee dropped to its all-time low of Rs 90.3 against the US dollar. The Indian volatility index, Nifty VIX, fell 0.1% and closed at 11.2 points. India’s Services Purchasing Managers’ Index (PMI) rose to 59.8 in November from 58.9 in October, as growth in new business boosted services output.

Nifty Smallcap 100 and Nifty Midcap 100 closed lower. Nifty PSU Bank and Nifty India Defence were among the top index losers today. According to Trendlyne’s sector dashboard, Fertilizers emerged as the worst-performing sector of the day, with a fall of 1.5%.

Asian indices closed mixed. European indices are trading with varied trends. US index futures are trading higher. Investors are now focused on a possible Federal Reserve rate cut later this month, with CME FedWatch showing an 87% probability of a 25-bps cut at the December 9–10 meeting. Brent crude futures are trading higher as the chances of an immediate peace deal in Ukraine remain low, keeping supply risks elevated.

  • Relative strength index (RSI) indicates that stocks like Deepak Nitrite, Bajaj Housing Finance, Conhance Lifesciences and Bata are in the oversold zone.

  • JSW Steel forms a 50:50 joint venture with Japan's JFE Steel to operate Bhushan Power & Steel's steel business. The company also approves merging Piombino Steel into itself. This simplifies the group structure and gives JSW Steel direct ownership of BPSL’s integrated steel assets.

  • IndiGrid Infrastructure Trust enters a share purchase agreement to acquire a 100% stake in Gadag Transmission from ReNew Transmission Ventures (RTVPL) and KNI India AS (KNI) for Rs 372 crore.

  • Bharat Rasayan's board of directors sets December 12 as the record date for its 1:2 stock split and 1:1 bonus issue.

  • Nuvama upgrades Shoppers Stop to a 'Buy' rating with a target price of Rs 595. The brokerage says the recent correction offers a margin of safety, and the “Shoppers Stop 2.0” turnaround is showing clear progress. It highlights the company's renewed focus on premiumisation, store experience, and loyalty programmes. Nuvama believes this strategy and planned scale-up position the retailer well for long-term growth.

  • Ashok Leyland is rising as BofA Securities reportedly upgrades its target price to Rs 180 per share, while maintaining a 'Buy' rating on the stock. This indicates a potential upside of 11.1%. The brokerage believes that the company's medium and heavy commercial vehicles segment will grow in the mid-single digits, driven by scale-up of the truck rental segment and a strong fleet age.

  • Websol Energy Systems signs a memorandum of understanding (MoU) with Linton to manufacture photovoltaic (PV) ingots and wafers in India. Under the MoU, Websol will procure the ingot and wafer manufacturing equipment and technical expertise from Linton.

  • Gujarat Pipavav Port is rising as it signs a memorandum of understanding (MoU) with NYK India to upgrade its roll-on/roll-off (RoRo) infrastructure at Pipavav port to handle 5 lakh cars annually.

  • CLSA maintains an 'Outperform' rating on Hindalco with a target price of Rs 965. The brokerage says a strong aluminium price outlook eases Novelis-related concerns. It expects expansion plans could double EBITDA over the next five years, with stronger free cash flow (FCF) in the later stages. Management remains upbeat on aluminium prices. CLSA notes that Indonesia's capacity additions may face power constraints, while China approaches its 45 metric tonne (MT) limit.

  • MOIL's manganese ore sales rise 3% YoY to 1.4 lakh metric tonnes in November, while its ore production grows 1% YoY to 1.7 lakh metric tonnes.

  • BEML secures an order worth Rs 414 crore from Bangalore Metro Rail Corp (BMRCL) to supply trainsets for Bangalore Metro Rail Project, phase-II.

  • NBCC (India) secures five orders worth Rs 665.4 crore from various clients. The largest contract comes from the Ghaziabad Development Authority for the redevelopment of Tulsi Niketan. The remaining orders include renovation and construction work for The Institute of Cost Accountants of India, the National Forensic Science University, and The Institute of Company Secretaries of India.

  • Antique Stock Broking initiates coverage on DOMS Industries with a 'Buy' rating and a target price of Rs 3,250. The brokerage believes Doms is well-positioned for faster growth, backed by capacity expansion, wider distribution, and a strong innovation pipeline. It highlights the company’s push into adjacent categories, like bags and toys, as well as acquisitions such as Uniclan and Super Treads. The management remains confident in achieving 18–20% annual growth.

  • Indian Railway Finance Corp is rising as it signs a 5-year loan agreement worth $300 million (~Rs 2,707.9 crore) with Sumitomo Mitsui Banking Corp. The company will use the proceeds from this loan to finance the railway sector and other projects.

  • KPI Green Energy receives an order worth Rs 489.2 crore from Gujarat State Electricity Corp (GSECL) to build a 142 MW (DC) / 110 MW (AC) floating solar project at the Kadana Dam reservoir in Mahisagar, Gujarat.

  • Geojit BNP Paribas retains its 'Buy' call on Va Tech Wabag, with a target price of Rs 1,877 per share. This indicates a potential upside of 34.5%. The brokerage believes that sustained execution of the company's large order book will drive revenue growth. However, it notes that a higher proportion of construction contracts in the recent mix will weigh on margins. It expects the firm's revenue to grow at a CAGR of 17% over FY26-27.

  • India’s services PMI climbs to 59.8 in November from 58.9 in October, driven by strong new business that boosted services output. However, employment growth stays modest, and the overall composite PMI slightly cools to 59.7 due to slower manufacturing growth.

  • Adani Enterprises reportedly plans a $15 billion (~Rs 1.4 lakh crore) capex to increase passenger capacity to 200 million per year by 2030. The company aims to add terminals, taxiways, and a new runway at the Navi Mumbai airport and capacity upgrades at Ahmedabad, Jaipur, Thiruvananthapuram, Lucknow, and Guwahati airports.

  • Sun Pharmaceutical Industries' subsidiary, Sun Pharma Laboratories, approves a capex of Rs 3,000 crore to set up a greenfield formulations facility in Madhya Pradesh.

  • Embassy Office Parks REIT rises to its 5-year high of Rs 440 per share as its board of directors approves acquiring a 100% stake in Eleanor Realty Holdings India at an enterprise value of Rs 852 crore. Eleanor Realty owns and operates a commercial office space, Pinehurst, with a total leasable area of 2.9 lakh sq ft.

  • Commodore A Madhavarao, CMD of Bharat Dynamics, says the company is preparing for rapid expansion, supported by a Rs 36,000 crore FY26 order book, strong export demand, and capacity additions. Bharat Dynamics targets a turnover of Rs 10,000 crore by FY30 and aims for 20–25% annual growth across all divisions, with plans to double revenue over the next 2–3 years.

  • Dr Reddy's Laboratories rises after the Delhi High Court reportedly allows the company to manufacture and export its weight-loss drug, Semaglutide. However, Dr Reddy's will not be allowed to sell the drug in India till the Danish drugmaker, Novo Nordisk's, secondary patent expires in March 2026. This move comes despite Novo Nordisk pursuing a patent infringement case.

  • Mahindra Lifespace secures a redevelopment project in Matunga, Mumbai. The project is expected to generate a gross development value (GDV) of Rs 1,010 crore.

  • Angel One is falling as its average daily turnover (ADTO) drops 9.8% MoM. However, it rises 25.4% YoY in November. Its gross client acquisition drops 16.6% YoY to 5 lakh during the month. The company appears in a screener of stocks underperforming their industry price change in the quarter.

  • Bansal Wire Industries is falling as it receives a show-cause notice worth Rs 202.8 crore from the GST authority for FY20.

  • Nifty 50 was trading at 26,030.05 (-2.2, 0.0%), BSE Sensex was trading at 85,150.64 (12.4, 0.0%), while the broader Nifty 500 was trading at 23,816.85 (-5.4, 0.0%).

  • Market breadth is in the green. Of the 2,052 stocks traded today, 1,152 were in the positive territory and 832 were negative.

Riding High:

Largecap and midcap gainers today include Biocon Ltd. (410, 2.8%), Wipro Ltd. (254.69, 1.8%) and Hindustan Zinc Ltd. (504.40, 1.8%).

Downers:

Largecap and midcap losers today include Indian Bank (812.80, -5.4%), Punjab National Bank (119.80, -4.4%) and Hitachi Energy India Ltd. (21,850, -4.0%).

Movers and Shakers

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

Top high volume gainers on BSE included Birlasoft Ltd. (422.75, 4.4%), DOMS Industries Ltd. (2,609, 4.2%) and Sonata Software Ltd. (364.45, 4.1%).

Top high volume losers on BSE were Indian Bank (812.80, -5.4%), Angel One Ltd. (2,670.20, -5.1%) and KNR Constructions Ltd. (150.74, -4.9%).

Bombay Burmah Trading Corporation Ltd. (1,882.50, 3.9%) was trading at 43.9 times of weekly average. Hatsun Agro Products Ltd. (1,043.20, 1.3%) and EIH Ltd. (378.70, 0.2%) were trading with volumes 22.5 and 10.2 times weekly average respectively on BSE at the time of posting this article.

BSE 500: highs, lows and moving averages

5 stocks hit their 52 week highs, while 25 stocks were underachievers and hit their 52 week lows.

Stocks touching their year highs included - Asian Paints Ltd. (2,953.50, 0.0%), Can Fin Homes Ltd. (890.30, -1.5%) and eClerx Services Ltd. (4,911.40, 2.4%).

Stocks making new 52 weeks lows included - BASF India Ltd. (4,082.60, -0.6%) and Bata India Ltd. (977.45, 1.3%).

9 stocks climbed above their 200 day SMA including Birlasoft Ltd. (422.75, 4.4%) and DOMS Industries Ltd. (2,609, 4.2%). 24 stocks slipped below their 200 SMA including Wockhardt Ltd. (1,415.30, -5.3%) and RHI Magnesita India Ltd. (454.30, -2.5%).

 
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