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Key gauges end flat with negative bias amid FII outflows
Dec-15-2025

Indian equity benchmarks erased initial losses and ended flat with negative bias on Monday in tandem with a weak trend in global markets and persistent foreign fund outflows. Foreign institutional investors (FIIs) offloaded equities worth Rs 1,114.22 crore on Friday, according to exchange data. Also, uncertainty over an India-US trade deal weighed on investors' sentiment.

Some of the important factors in trade:

India WPI inflation narrows in November: The government data showed wholesale price inflation (WPI) came in at (-) 0.32 per cent in November, driven by an uptick in prices of food articles like pulses and vegetables on a month-on-month basis. WPI-based inflation was (-) 1.21 per cent in October and 2.16 per cent in November last year. 

Rupee hits all-time low against US dollar: Indian rupee has slipped to a fresh all-time low against the US dollar, weighed down by uncertainty over an India-US trade deal and persistent foreign fund outflows. 

RBI calls external benchmarking for MSME loans: The Reserve Bank of India (RBI) has advised the banks to link loans to MSMEs to an external benchmark. This move aims to improve the transmission of the central bank's monetary policy and support the MSME sector. 

Diamond stocks in focus: The GJEPC data has showed that India's gems and jewellery exports grew 19.64 per cent to $2.5 billion in November compared to the same month last year. Total exports stood at $2.1 billion during the corresponding month of the previous year. 

Global front: European markets were trading higher ahead of a busy week for U.S. economic data and a slew of central bank decisions. Asian markets settled mostly down as investors fretted over tech valuations and digested disappointing economic data from China.  

Finally, the BSE Sensex fell 54.30 points or 0.06% to 85,213.36 and the CNX Nifty was down by 19.65 points or 0.08% to 26,027.30.       

The BSE Sensex touched high and low of 85,278.63 and 84,840.32 respectively. There were 14 stocks advancing against 16 stocks declining on the index.  

The broader indices ended in green; the BSE Mid cap index rose 0.16%, while Small cap index was up by 0.41%.

The top gaining sectoral indices on the BSE were FMCG up by 0.56%, Industrials up by 0.50%, Consumer Durables up by 0.46%, IT up by 0.31% and Basic Materials up by 0.30%, while Telecom down by 0.90%, Auto down by 0.87%, Healthcare down by 0.25%, Consumer Disc down by 0.25%, Power down by 0.05% were the losing indices on BSE.

The top gainers on the Sensex were Hindustan Unilever up by 1.37%, Trent up by 0.79%, HCL Technologies up by 0.68%, Asian Paints up by 0.53% and Tata Steel up by 0.52%. On the flip side, Mahindra & Mahindra down by 1.94%, Maruti Suzuki down by 0.89%, Adani Ports &SEZ down by 0.81%, Bajaj Finserv down by 0.75% and HDFC Bank down by 0.56% were the top losers.

Meanwhile, the Indian Primary Copper Producers Association (IPCPA) has warned that zero-duty copper imports under Free Trade Agreements (FTAs) are ‘severely damaging’ India’s smelting and downstream manufacturing sector, even as over Rs 20,000 crore has been invested in recent years to achieve self-sufficiency. Therefore, it sought immediate government interventions in the form of a safeguard duty and quantitative restrictions on inbound shipments from overseas. 

IPCPA demanded that a 3 per cent safeguard duty should be imposed on copper imports of certain categories, irrespective of the FTA status. It flagged concerns about the India-UAE Comprehensive Economic Partnership Agreement (CEPA), under which customs duties on copper wire rods have fallen to one per cent in FY26, and the levy is expected to be fully eliminated by FY27. It said the problem worsened due to an inflated Tariff Rate Quota (TRQ) of 85,000 tonnes per annum (KTPA) -- far above the intended 29 KTPA -- triggering a 340 per cent surge in imports from the UAE between FY22 and FY26. It added that the tariff rate quota should be corrected and capped at its original level. The tariff rate quota mechanism allows certain quantity of imports at a reduced or zero duty. 

The association further said that the India-ASEAN CEPA includes a cumulative value-addition rule that permits Indonesian copper cathodes -- after significant processing in Indonesia -- to receive only minimal further treatment in Thailand, Malaysia, or Vietnam before entering India duty-free. From 2020 to 2024, this provision drove a 66 per cent surge in copper wire imports and a 103 per cent increase in copper tube imports.  

CNX Nifty touched high and low of 26,047.15 and 25,904.75 respectively. There were 22 stocks advancing against 27 stocks declining, while 1 stock remained unchanged on the index.    

The top gainers on Nifty were Interglobe Aviation up by 2.05%, Trent up by 1.22%, Hindustan Unilever up by 1.21%, HCL Technologies up by 0.79% and Wipro up by 0.73%. On the flip side, Mahindra & Mahindra down by 1.90%, Eicher Motors down by 1.56%, ONGC down by 1.18%, Bajaj Auto down by 1.04%, JSW Steel down by 1.02% were the top losers.

European markets were trading higher; UK’s FTSE 100 increased 91.07 points or 0.94% to 9,740.10, France’s CAC rose 77.78 points or 0.96% to 8,146.40 and Germany’s DAX gained 89.91 points or 0.37% to 24,276.40.

Asian markets settled mostly down on Monday with caution ahead of the release of delayed US jobs and inflation data as well as a slew of central bank decisions due this week. Market sentiments weakened further by tracking sharp losses on Wall Street last Friday as investors continued to book profits from high-flying names linked to the artificial intelligence trade on valuation concerns. The Kospi index dropped below the 4,100 levels as concerns over an artificial intelligence bubble reemerged. Chinese and Hong Kong shares fell as bondholders of distressed developer China Vanke rejected a proposal to extend a bond payment, while a slew of lacklustre economic data also dampened sentiments. November data showed that China's retail sales and industrial production growth falling short of expectations, while fixed asset investment declined more than anticipated. New home prices also contracted for the 29th consecutive month, adding to concerns about the property sector.

Asian Indices

Last Trade            

Change in Points

Change in %      

Shanghai Composite

3,867.92

-21.43

-0.55

Hang Seng

25,628.88

-347.91

-1.34

Jakarta Composite

8,649.66

-10.84

-0.13

KLSE Composite

1,643.72

5.91

0.36

Nikkei 225

50,168.11

-668.44

-1.31

Straits Times

4,589.17

2.72

0.06

KOSPI Composite

4,090.59

-76.57

-1.87

Taiwan Weighted

27,866.94

-331.08

-1.19
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