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Key indices end marginally lower on Wednesday
Dec-03-2025

Indian equity benchmarks ended marginally lower in a largely range-bound trade on Wednesday amid persistent foreign fund outflows and profit-taking by investors. A cautious undertone prevailed as Ukraine peace talks stalled, and uncertainty prevailed over the U.S.-India trade deal. Sentiment was also dampened by a weakening rupee, which hit a record low against the dollar. In addition, caution ahead of the RBI's monetary policy meeting and mixed global cues added to the subdued mood.

Some of the important factors in trade:

Indian services sector growth accelerates to 59.8 in November: 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. 

Govt continues to work towards mitigating US tariffs impact on exports: Minister of State for Commerce and Industry Jitin Prasada said the government continues to work to mitigate the impact of the US tariff measures on Indian exports through a comprehensive multi-pronged strategy encompassing intensive engagement with the US government for a mutually beneficial India-US Bilateral Trade Agreement.

Rupee hits record low against Dollar: Indian rupee breached the 90-a-dollar level for the first time to settle at a fresh all-time low, amid sustained foreign fund outflows and higher crude oil prices. Uncertainty over the India-US trade deal, along with the lack of RBI effort to stop the slide in the local unit, put further pressure on the rupee.

Railway stocks in watch: The Ministry of Railways has said that Indian Railways recorded a freight loading of 135.7 million tonnes (MT) in November 2025, registering a 4.2 per cent increase over 130.2 MT in the same month last year. 

Global front: European markets were trading mostly in red despite final data from S&P Global revealed that Eurozone private sector logged its strongest growth since May 2023 as both manufacturing and service sectors showed expansion in output. Asian markets ended mixed as a cryptocurrency rebound lost steam and focus shifted to key U.S. economic data and upcoming central bank decisions.

Finally, the BSE Sensex fell 31.46 points or 0.04% to 85,106.81 and the CNX Nifty was down by 46.20 points or 0.18% to 25,986.00.      

The BSE Sensex touched high and low of 85,269.68 and 84,763.64 respectively. There were 10 stocks advancing against 20 stocks declining on the index.   

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

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.

The top gainers on the Sensex were TCS up by 1.41%, ICICI Bank up by 1.37%, Infosys up by 1.12%, HDFC Bank up by 1.06% and Axis Bank up by 0.91%. On the flip side, Bharat Electronics down by 2.13%, Titan Company down by 1.86%, Mahindra & Mahindra down by 1.79%, NTPC down by 1.72% and SBI down by 1.69% 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.

CNX Nifty touched high and low of 26,066.45 and 25,891.00 respectively. There were 13 stocks advancing against 37 stocks declining on the index.    

The top gainers on Nifty were Wipro up by 1.61%, Hindalco up by 1.46%, TCS up by 1.41%, ICICI Bank up by 1.38% and HDFC Bank up by 1.04%. On the flip side, Max Healthcare down by 2.91%, Tata Consumer Product down by 2.25%, Adani Enterprises down by 2.14%, Bharat Electronics down by 2.03% and Shriram Finance down by 1.83% were the top losers.

European markets were trading mostly in red; UK’s FTSE 100 decreased 22.7 points or 0.23% to 9,679.10 and France’s CAC fell 4.81 points or 0.06% to 8,069.80, while Germany’s DAX gained 22.04 points or 0.09% to 23,732.90.

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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