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EQUITY
Post Session: Quick Review
Dec-03-2025

Indian equity benchmarks extended their losses for a fourth consecutive session on Wednesday, as investors remained cautious ahead of the Reserve Bank of India’s interest-rate decision and policy cues due Friday. After making a cautious start, soon indices slipped sharply into the red and stayed under pressure throughout the day, due to lingering uncertainty over the Indo-U.S. trade deal and continued foreign fund outflows. In the last hour of trade, buying in banking and IT stocks helped the markets recover from the day’s low, but ultimately ended in the red.

Some of the important factors in trade:

Ongoing foreign fund outflow: Sentiments were subdued as Foreign Institutional Investors (FIIs) were net sellers in the market, selling shares worth Rs 3,642.30 crore on Tuesday.

India's services sector growth rises in November: Traders overlooked 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.

Public sector banks’ stocks were in focus: Minister of State for Finance Pankaj Chaudhary said that the government is not considering any proposal to raise the foreign direct investment (FDI) limit in public sector banks to 49 per cent, from the current 20 per cent. 

Global front: European markets were trading mostly in green head of the release of Eurozone Services PMI data and a speech by European Central Bank President Christine Lagarde. Asian markets ended mixed after China's service sector grew at the slowest pace in five months in November. The headline RatingDog services Purchasing Managers' Index fell to 52.1 in November from 52.6 in October. 

The BSE Sensex is currently trading at 85106.81, down by 31.46 points or 0.04% after trading in a range of 84763.64 and 85269.68. There were 10 stocks advancing against 20 stocks declining on the index. (Provisional)

The broader indices ended in red; the BSE Mid cap index was down by 0.95%, while Small cap index down by 0.43%. (Provisional)

The top gaining sectoral indices on the BSE were IT up by 0.78%, TECK up by 0.41%, Telecom up by 0.29% and Bankex up by 0.19%, while PSU down by 1.56%, Capital Goods down by 1.31%, Consumer Durables down by 1.24%, Auto down by 1.12% and Power down by 1.05% were the top losing indices on BSE. (Provisional)

The top gainers on the Sensex were ICICI Bank up by 1.44%, TCS up by 1.37%, HDFC Bank up by 1.12%, Axis Bank up by 0.95% and Infosys up by 0.95%. On the flip side, Bharat Electronics down by 1.95%, Mahindra & Mahindra down by 1.79%, SBI down by 1.78%, Titan Company down by 1.76% and NTPC down by 1.63% were the top losers. (Provisional)

Meanwhile, the Multilateral development bank -- Asian Development Bank (ADB) has approved a policy-based loan worth $650 million (around Rs 5,780 crore) to help the Government of India accelerate rooftop solar adoption and expand access to clean, affordable energy for 10 million households by 2027. The bank said that the financing under Subprogram 1 of the Accelerating Affordable and Inclusive Rooftop Solar Systems Development Program will support the government's flagship initiative Pradhan Mantri Surya Ghar: Muft Bijli Yojana (PMSGMBY) which aims to make rooftop solar systems widely accessible nationwide. ADB’s Country Director for India noted that the programme is accelerating India's clean energy transition by removing long-standing barriers to rooftop solar adoption, including financing constraints and regulatory gaps. Further, it is making rooftop solar affordable and accessible for millions of households while creating green jobs, empowering women, and strengthening the financial health of the power sector.

The bank highlighted that PMSGMBY will provide financial assistance to residential consumers for installing rooftop solar systems of up to 3 kilowatts (kW), with a 60 per cent subsidy for systems up to 2 kW and a 40 per cent subsidy for additional capacity between 2 kW and 3 kW. It has emphasized the key reform areas under the programme which include developing uniform operational guidelines and quality standards for residential rooftop solar systems and facilitating mass adoption among low- and middle-income households through collateral-free, low-interest loans. Besides, the programme will enhance the skills and capacity of at least 5,000 personnel, including 1,500 women, supporting India's Nationally Determined Contribution targets.

Moreover, the bank’s support is expected to significantly contribute to the nationwide objective of installing 30 gigawatts of rooftop solar capacity, achieving annual reductions of 28.8 million tonnes of CO2 emissions, and delivering affordable solar energy to millions of households. It will also boost private sector investment to create opportunities for manufacturers, vendors, and service providers across the renewable energy value chain. The bank's financing for the programme includes $3 million in technical assistance to help implement reforms, build institutional capacity, and promote gender-inclusive participation in the rooftop solar sector.

The CNX Nifty ended at 25986.00, down by 46.20 points or 0.18% after trading in a range of 25891.00 and 26066.45. There were 13 stocks advancing against 37 stocks declining on the index. (Provisional)

The top gainers on Nifty were Wipro up by 1.57%, TCS up by 1.41%, ICICI Bank up by 1.24%, Hindalco up by 1.17% and HDFC Bank up by 1.08%. On the flip side, Max Healthcare Inst down by 2.95%, Bharat Electronics down by 2.20%, Adani Enterprises down by 2.15%, Tata Consumer Products down by 1.91% and Shriram Finance down by 1.83% were the top losers. (Provisional)

European markets were trading mostly in green; Germany’s DAX gained 72.04 points or 0.3% to 23,782.90, and France’s CAC rose 16.09 points or 0.2% to 8,090.70, while UK’s FTSE 100 decreased 9.8 points or 0.1% to 9,692.00.

Asian markets ended mixed on Wednesday as traders focus shifted to key US economic data and upcoming Fed’s decisions for further cues on the economic and interest rate outlook. Chinese and Hong Kong shares declined after the release of weak data and amid deepening property stress. Data showed that the RatingDog China General Services PMI, compiled by S&P Global, fell to 52.1 from 52.6 in October, marking the weakest expansion since June. Japanese shares rose sharply as technology shares tracked Wall Street higher amid expectations of further US Federal Reserve rate cuts, but caution persisted as markets assessed speculation that the Bank of Japan could raise rates this month. Meahile, Seoul shares climbed back above the 4,000 level after the Bank of Korea (BOK) said the South Korean economy expanded at the fastest pace in nearly four years in the third quarter on strong exports. 

Asian Indices

Last Trade            

Change in Points

Change in %      

Shanghai Composite

3,878.00

-19.71

-0.51

Hang Seng

25,760.73

-334.32

-1.28

Jakarta Composite

8,611.79

-5.25

-0.06

KLSE Composite

1,622.84

-7.76

-0.48

Nikkei 225

49,864.68

561.23

1.14

Straits Times

4,554.52

16.56

0.36

KOSPI Composite

4,036.30

41.37

1.04

Taiwan Weighted

27,793.04

228.77

0.83
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