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Key gauges end marginally higher in volatile session
Dec-04-2025

Snapping the four-day losing run, Indian equity benchmarks ended marginally higher on Thursday on buying in IT, TECK and Realty shares. However, the gains remained capped as investors awaited the Reserve Bank of India's interest-rate decision and policy guidance due on Friday for direction. Besides, foreign fund outflows from equities and lingering uncertainty over the Indo-US trade deal, kept investor sentiment fragile. 

Some of the important factors in trade:

Strong political commitment to conclude revamped India-EU FTA by end of 2025: European Union (EU) Ambassador to India Herve Delphin has said that there is strong political commitment from both sides to conclude the revamped India-EU Free Trade Agreement by the end of 2025. 

Government working with clear vision to support India’s economic progress: Highlighting the importance of innovation, quality, design, sustainability and efficiency as key drivers of India’s manufacturing competitiveness, Union Minister of Commerce and Industry Piyush Goyal has said that the Government is working with a clear vision to support the country’s economic progress.

Fitch ups India’s GDP forecast to 7.4% for FY26: Fitch Ratings has raised India's GDP growth forecast for the current fiscal to 7.4 per cent, from 6.9 per cent, on increased consumer spending and improved sentiment boosted by GST reforms. 

Rupee recovers after hitting low: Indian rupee rebounded from its all-time low levels and appreciated against the US dollar, on softness in the US dollar index and on reports of the Reserve Bank of India's supposed intervention.

Global front: European markets were trading higher as weak U.S. private payrolls data fuelled bets on an interest rate cut by the Federal Reserve next week. Asian markets settled mixed as investors also adopted a cautious stance before rate decisions by the Federal Reserve and the Bank of Japan in coming days.

Finally, the BSE Sensex rose 158.51 points or 0.19% to 85,265.32 and the CNX Nifty was up by 47.75 points or 0.18% to 26,033.75.      

The BSE Sensex touched high and low of 85,487.21 and 84,949.98 respectively. There were 18 stocks advancing against 12 stocks declining on the index.   

The broader indices ended in red; the BSE Mid cap index fell 0.19%, while Small cap index was down by 0.32%.

The top gaining sectoral indices on the BSE were IT up by 1.31%, TECK up by 1.12%, Realty up by 0.53%, FMCG up by 0.38% and Auto up by 0.28%, while Industrials down by 0.48%, Power down by 0.43%, Consumer Durables down by 0.36%, Utilities down by 0.24% and Capital Goods down by 0.21% were the top losing indices on BSE.

The top gainers on the Sensex were TCS up by 1.54%, Tech Mahindra up by 1.28%, Infosys up by 1.24%, HCL Technologies up by 0.89% and Bharti Airtel up by 0.83%. On the flip side, Maruti Suzuki down by 0.71%, Eternal down by 0.69%, Kotak Mahindra Bank down by 0.53%, Titan Company down by 0.44% and ICICI Bank down by 0.35% were the top losers.

Meanwhile, highlighting the importance of innovation, quality, design, sustainability and efficiency as key drivers of India’s manufacturing competitiveness, Union Minister of Commerce and Industry Piyush Goyal has said that the Government, under the leadership of Prime Minister Narendra Modi, is working with a clear vision to support the country’s economic progress. He referred to recent growth trends across agriculture, services and manufacturing, and pointed out that India’s manufacturing output has diversified into newer areas such as electronics, white goods, chemicals and petrochemicals.

The Minister highlighted the need for industry to remain competitive and responsive to global developments. He said that recent disruptions have underscored the importance of resilient supply chains and cautioned against overdependence on specific geographies. He emphasised the need to identify areas where domestic capacity and greater control over supply chains are essential. Goyal also stated that industry collaboration is vital for expanding manufacturing output and noted that growth in manufacturing will further accelerate growth in services. He added that as India strengthens its presence in global markets, it must simultaneously remain open to competitive practices within the domestic economy.

Besides, the Minister observed that several States, including Uttar Pradesh and Odisha, have recorded rapid progress in recent years, resulting in increased local opportunities and reduced migration. He encouraged industry to provide suggestions on simplifying procedures, improving regulatory systems and strengthening the manufacturing environment. He noted ongoing Government efforts to ease compliance, remove obsolete provisions and modernise legal frameworks, including the introduction of the four Labour Codes. He said that 23 States have framed corresponding rules and that the Codes will enhance formalisation, ensure minimum wages and strengthen social security and workplace safety.

Goyal underlined the importance of timely payments to MSMEs and said that prompt clearing of dues would significantly ease cash flow constraints and support MSME productivity and growth. The Minister also emphasised the long-standing national focus on Swadeshi and self-reliance, noting their relevance in strengthening domestic manufacturing capabilities. He said that collective efforts of industry and Government will be essential in advancing the vision of Atma Nirbhar Bharat and achieving the national goal of Viksit Bharat 2047.

CNX Nifty touched high and low of 26,098.25 and 25,938.95 respectively. There were 34 stocks advancing against 16 stocks declining on the index.    

The top gainers on Nifty were Tech Mahindra up by 1.51%, HDFC Life Insurance Company up by 1.49%, TCS up by 1.48%, SBI Life Insurance up by 1.41% and Bharat Electronics up by 1.25%. On the flip side, Interglobe Aviation down by 2.39%, Reliance Industries down by 0.88%, Hindalco down by 0.65%, Maruti Suzuki down by 0.64% and Titan Company down by 0.62% were the top losers.

European markets were trading higher; UK’s FTSE 100 increased 1.68 points or 0.02% to 9,693.75, France’s CAC rose 23.78 points or 0.29% to 8,111.20 and Germany’s DAX gained 146.49 points or 0.62% to 23,840.20.

Asian markets settled mixed on Thursday as investors remained cautious ahead of rate decisions by the Federal Reserve and the Bank of Japan in coming days, while weak US ADP jobs data reinforced bets on an imminent Fed rate cut. Japanese shares surged after an auction of 30-year Japanese government bonds drew the highest demand in more than six years, while Japanese chipmakers in the AI supply chain gaining ground after reports revealed that US President Donald Trump met with Nvidia CEO Jensen Huang on Wednesday to discuss export controls on Nvidia's AI chips. China’s Shanghai ended marginally down on concerns over slowing services growth and a prolonged property slump. 

Asian Indices

Last Trade            

Change in Points

Change in %      

Shanghai Composite

3,875.79

-2.21

-0.06

Hang Seng

25,935.9

175.17

0.68

Jakarta Composite

8,640.20

28.41

0.33

KLSE Composite

1,621.07

-1.77

-0.11

Nikkei 225

51,028.42

1,163.74

2.33

Straits Times

4,535.14

-19.38

-0.43

KOSPI Composite

4,028.51

-7.79

-0.19

Taiwan Weighted

27,795.71

2.67

0.01
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