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Markets continue to trade below neutral lines
Dec-03-2025

Indian equity markets remained lackluster in late afternoon session as traders took a cautious approach ahead of Reserve Bank of India’s (RBI’s) monetary policy decision. Besides, the continued decline in Indian rupee kept investors on edge. The Indian rupee weakened to an all-time low of 90.13 against the US dollar. Investors also overlooked India’s Chief Economic Advisor V. Anantha Nageswaran’s comments indicating that the government is not worried about declining rupee. He added that the falling rupee is not affecting inflation or exports. He also expressed hope that it should improve next year. Further, markets participant awaited for any cues about India-US trade deal.

On the global front, Asian equity markets were trading mixed as a cryptocurrency rebound lost steam and focus shifted to key U.S. economic data and upcoming central bank decisions. European equity markets were trading mostly in green ahead of the release of Eurozone Services PMI data and a speech by European Central Bank President Christine Lagarde.

The BSE Sensex is currently trading at 84940.27, down by 198.00 points or 0.23% after trading in a range of 84763.64 and 85269.68. There were 9 stocks advancing against 21 stocks declining on the index.

The broader indices were trading in red; the BSE Mid cap index declined 1.07%, while Small cap index was down by 0.58%.

The only gaining sectoral indices on the BSE were IT up by 0.72%, TECK up by 0.37% and Telecom up by 0.30%, while PSU down by 1.69%, Capital Goods down by 1.53%, Consumer Durables down by 1.42%, Industrials down by 1.24% and Auto down by 1.18% were the top losing indices on BSE.

The top gainers on the Sensex were TCS up by 1.44%, ICICI Bank up by 1.04%, Infosys up by 0.98%, Tech Mahindra up by 0.56% and HDFC Bank up by 0.49%. On the flip side, Bharat Electronics down by 2.16%, NTPC down by 2.15%, Titan Company down by 2.14%, SBI down by 1.79% and Tata Motors Passenger Vehicles down by 1.70% were the top losers.

Meanwhile, Indian services sector growth accelerated in the month of November, after losing some momentum in October, boosted by a faster upturn in new business intakes. According to the survey report, the seasonally adjusted HSBC India Services PMI Business Activity Index surged to 59.8 in November from 58.9 in October. However, the HSBC India Composite PMI Output Index -- which measures both manufacturing and services -- eased to 59.7 in November as against 60.4 in October. 

The report noted that demand for Indian services continued to strengthen as shown by another expansion in new business intakes. The rate of increase was sharp, quicker than in October and above its long-run average. On the other hand, there was a softer increase in new export orders midway through the third fiscal quarter. The rate of growth was solid, but eased to an eight-month low. Where external sales rose, firms reported gains from Asia, Europe and the Middle East. 

Indian services companies signalled a marginal increase in their expenses, with outlays on electricity, food, rent and software subscription reportedly rising. The rate of inflation receded to the lowest since August 2020, however, and was below its long-run average. As a result of receding cost pressures and efforts to secure new work, a smaller proportion of services companies increased their own fees in November. Having eased to its lowest in over four years, the overall rate of charge inflation was negligible.

The CNX Nifty is currently trading at 25930.40, down by 101.80 points or 0.39% after trading in a range of 25891.00 and 26066.45. There were 12 stocks advancing against 38 stocks declining on the index.

The top gainers on Nifty were Wipro up by 1.96%, TCS up by 1.45%, ICICI Bank up by 1.01%, Infosys up by 0.98% and HDFC Bank up by 0.64%. On the flip side, Max Healthcare Institute down by 3.20%, JSW Steel down by 2.71%, Adani Enterprises down by 2.63%, Bharat Electronics down by 2.31% and Titan Company down by 2.21% were the top losers.

Asian equity markets were trading mixed; Nikkei 225 surged 694.55 points or 1.39% to 49,998.00, Taiwan Weighted added 228.77 points or 0.82% to 27,793.04, KOSPI increased 41.37 points or 1.02% to 4,036.30 and Straits Times rose 14.57 points or 0.32% to 4,552.53, while Hang Seng declined 354.05 points or 1.38% to 25,741.00, Jakarta Composite plunged 6.75 points or 0.08% to 8,610.29 and Shanghai Composite weakened 19.71 points or 0.51% to 3,878.00.

European equity markets were trading mostly in green; France’s CAC rose 23.39 points or 0.29% to 8,098.00 and Germany’s DAX gained 83.04 points or 0.35% to 23,793.90, while UK’s FTSE 100 decreased 4.58 points or 0.05% to 9,697.22.
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