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Markets trade lower after positive start; IT, Teck stocks lead losers
Dec-23-2025

Indian equity benchmarks made a slightly positive start on Tuesday but failed to hold the gains and slipped below neutral lines despite broadly positive global cues. Sensex and Nifty were trading lower with marginal losses in early deals as profit booking in IT and TECK stocks. There was some cautiousness as the government data showed that India's eight key infrastructure sectors grew at a slower pace of 1.8 per cent in November against 5.8 per cent in the same month last year, amid a dip in production of crude oil, natural gas, refinery products, and electricity. Traders also remained on sidelines ahead of Christmas Day holiday.

On the global front, Asian markets were trading mostly higher, following the broadly positive cues from Wall Street overnight, as the markets extended their gains boosted continued strength among technology stocks.

The BSE Sensex is currently trading at 85368.93, down by 198.55 points or 0.23% after trading in a range of 85368.79 and 85704.93. There were 15 stocks advancing against 15 stocks declining on the index.

The broader indices were trading mixed; the BSE Mid cap index fell 0.26%, while Small cap index was up by 0.08%.

The top gaining sectoral indices on the BSE were Energy up by 0.51%, Metal up by 0.51%, Oil & Gas up by 0.47%, Basic Materials up by 0.45% and PSU up by 0.40%, while IT down by 1.16%, TECK down by 1.06%, Realty down by 0.51%, Consumer Durables down by 0.48% and Auto down by 0.32% were the top losing indices on BSE.

The top gainers on the Sensex were Bajaj Finance up by 0.78%, Power Grid up by 0.72%, Ultratech Cement up by 0.68%, Tata Steel up by 0.50% and Trent up by 0.50%. On the flip side, Infosys down by 1.81%, TCS down by 0.74%, Asian Paints down by 0.72%, HCL Technologies down by 0.66% and Eternal down by 0.61% were the top losers.

Meanwhile, after conclusion of negotiations for the free trade agreement (FTA) between the India-New Zealand, Commerce and Industry Minister Piyush Goyal has said with an aim to formally start the negotiations for FTA, India and Canada will soon start discussions on the Terms of Reference (ToR). Earlier, both the countries were negotiating a trade pact, but it was put on hold by Canada in 2023. 

The ToR outline the scope and modalities of a proposed trade pact. Both sides have appointed their chief negotiators for the trade pact negotiations. Joint Secretary in the Department of Commerce Brij Mohan Mishra is the chief negotiator from the Indian side. Bruce Christie is Canada's chief negotiator.

India's exports to Canada rose 9.8% to $4.22 billion in 2024-25 from $3.84 billion in 2023-24. However, imports declined 2.33% to $4.44 billion in the last fiscal from $4.55 billion in 2023-24. Bilateral trade in goods and services between India and Canada stood at $18.38 billion in 2023. There are about 2.9 million Indian diaspora and over 4,27,000 Indian students in Canada.

So far, Goyal said the country has finalized FTAs with three members of the Five Eyes (FVEY) alliance - Australia, UK and New Zealand. The five countries of the intelligence sharing network are Australia, Canada, New Zealand, the UK, and the US. He also noted that the country is at an advanced stage of negotiations for a bilateral trade agreement with the US.

The CNX Nifty is currently trading at 26124.50, down by 47.90 points or 0.18% after trading in a range of 26120.65 and 26206.55. There were 21 stocks advancing against 29 stocks declining on the index.

The top gainers on Nifty were Coal India up by 2.42%, ONGC up by 1.03%, Ultratech Cement up by 0.62%, Bajaj Finance up by 0.61% and Power Grid up by 0.60%. On the flip side, Infosys down by 1.91%, Max Healthcare down by 1.08%, TCS down by 0.84%, Asian Paints down by 0.77% and Bharti Airtel down by 0.75% were the top losers.

Asian markets were trading mostly in green; Taiwan Weighted surged 90.75 points or 0.32% to 28,240.39, Hang Seng rose 74.23 points or 0.29% to 25,876.00, Straits Times advanced 18.13 points or 0.39% to 4,628.42, Shanghai Composite added 13.51 points or 0.34% to 3,930.87 and KOSPI was up by 12.10 points or 0.29% to 4,118.03. On the other hand, Jakarta Composite fell 31.5 points or 0.36% to 8,614.34 and Nikkei 225 was down by 28.39 points or 0.06% to 50,374.00.
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