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EQUITY
Post Session: Quick Review
Dec-11-2025

Indian equity benchmarks broke a three-session losing streak on Thursday ahead of the release of domestic inflation data. The markets began on a cautious note amid concerns over foreign fund outflows and the ongoing India-US trade talks. Sentiment improved after investors drew support from the U.S. Federal Reserve’s announcement of a 25-basis-point rate cut, helping the indices trade firmly for the rest of the session.

Some of the important factors in trade:

Negotiations for FTAs with Oman, New Zealand in last phase: Traders took support with Commerce and Industry Minister Piyush Goyal’s statement that negotiations for Free Trade Agreements (FTAs) with Oman and New Zealand are in their last phase, and both are expected to be concluded soon.

Banking activity strengthens significantly in India: Investors remained optimistic as the government in its latest report has said that the banking activity has strengthened significantly in India, with domestic deposits and credit nearly tripling between 2015 and 2025.

India should remain extremely cautious on giving concessions on agri products to US: Traders overlooked the Think tank -- the Global Trade Research Initiative (GTRI) has said that India should remain extremely cautious about giving duty concessions to the US on agricultural crops or genetically modified products, and should insist on a drastic cut in the high tariffs. 

Global front: European markets were trading mostly in green after US Federal Reserve delivered 25 basis point rate cut. Asian markets ended mostly in red, even though confidence among Japanese manufacturing companies improved in the fourth quarter.

The BSE Sensex ended at 84818.13, up by 426.86 points or 0.51% after trading in a range of 84150.19 and 84906.93. There were 21 stocks advancing against 9 stocks declining on the index. (Provisional)

The broader indices ended in green; the BSE Mid cap index rose 0.79%, while Small cap index was up by 0.51%. (Provisional)

The top gaining sectoral indices on the BSE were Metal up by 1.14%, Auto up by 1.08%, Basic Materials up by 0.94%, IT up by 0.89% and Telecom up by 0.89%, while Oil & Gas down by 0.14% was only losing index on BSE. (Provisional)

The top gainers on the Sensex were Eternal up by 2.74%, Tata Steel up by 2.56%, Kotak Mahindra Bank up by 2.45%, Ultratech Cement up by 1.27% and Maruti Suzuki up by 1.23%. On the flip side, Asian Paints down by 0.96%, Bharti Airtel down by 0.71%, Bajaj Finance down by 0.44%, Power Grid Corp down by 0.24% and Axis Bank down by 0.22% were the top losers. (Provisional)

Meanwhile, the rating agency Crisil has estimated assets under management (AUM) of vehicle loans of non-banking financial companies (NBFCs) to grow at a steady pace of 16-17% annually over the current and next fiscals. Further, NBFCs’ assets under management of vehicle loans is expected to rise to around Rs 11 lakh crore by March 31, 2027, supported by policy measures and macroeconomic tailwinds. It noted that while sub-segments of vehicle loans will see differential growth trends, growth of used vehicle loans will continue to outpace that of new vehicle loans.

Crisil highlighted that vehicle finance business is cyclical and has high correlation with macroeconomic trends. Further, India’s economic growth, along with the benefits of the recent rationalisation of the goods and services tax (GST) rates and lower systemic interest rates, are expected to propel growth of vehicle sales over the near to medium term. While the tailwinds will primarily drive sales of new vehicles and consequently their financing, continued focus on used vehicle loans by NBFCs will add to the traction. It added that NBFCs’ used vehicle loan AUM has clocked a compound annual growth rate of around 15% between fiscals 2020 and 2025, compared with around 11% for new vehicle loans. This growth trend is expected to sustain over the medium term, as unit economics of owning a used vehicle is lower than that of a new vehicle. Moreover, as financing of used vehicles provides better risk-adjusted returns, NBFCs are continuing to tap this segment.

It pointed that while the market for used vehicle loans is more established for commercial vehicles (CVs), that for cars and utility vehicles (UVs) has gained ground over the past few years and is expected to gradually pick up for others as well. It noted that the share of cars and UV in vehicle finance AUM is expected to ascend amid rising pace of financing of cars and UV than that of other segments. On the other hand, while CV financing will continue to dominate, its share will moderate somewhat, on account of relatively lower growth.

The CNX Nifty ended at 25898.55, up by 140.55 points or 0.55% after trading in a range of 25693.25 and 25922.80. There were 38 stocks advancing against 11 stocks declining on the index, while one stock remained unchanged. (Provisional) 

The top gainers on Nifty were Adani Enterprises up by 2.99%, Eternal up by 2.72%, JIO Financial Services up by 2.61%, Tata Steel up by 2.56% and Kotak Mahindra Bank up by 2.38%. On the flip side, Asian Paints down by 0.89%, Bharti Airtel down by 0.67%, Axis Bank down by 0.46%, Bajaj Finance down by 0.39% and SBI Life Insurance down by 0.38% were the top losers. (Provisional)

European markets were trading mostly in green; France’s CAC rose 27.71 points or 0.35% to 8,050.40 and UK’s FTSE 100 increased 3.27 points or 0.03% to 9,658.80, while Germany’s DAX lost 37.14 points or 0.15% to 24,093.00.

Asian markets ended mostly lower on Thursday as earlier gains fuelled by the Federal Reserve’s latest interest rate cut were offset by indications the central bank will hold off from further reductions at the start of next year. The Fed decided to lower the target range for the federal funds rate by 25 basis points to 3.50 to 3.75 percent. Traders have lowered their expectations for the number of Fed cuts in 2026 after the bank’s statement used language used in late 2024 to signal a pause in more rate cuts. Disappointing earnings from software giant Oracle also dented sentiment as they revived worries that sky-high valuations for tech companies, boosted by excitement over artificial intelligence, may be stretched after a long-running rally. Besides, investors remained on sidelines ahead of China’s upcoming Central Economic Work Conference, where growth targets and policy plans for 2026 will be outlined. Also, investor adopted wait-and-see behavior ahead of Bank Indonesia’s policy meeting next week.

Asian Indices

Last Trade            

Change in Points

Change in %      

Shanghai Composite

3,873.32

- 27.18

-0.70

Hang Seng

25,530.51

-10.27

-0.04

Jakarta Composite

8,620.48

-80.44

-0.92

KLSE Composite

1,625.39

14.39

0.89

Nikkei 225

50,148.82

-453.98

-0.90

Straits Times

4,520.83

8.93

0.20

KOSPI Composite

4,110.62

-24.38

-0.59

Taiwan Weighted

28,024.75

-375.98

-1.32
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