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EQUITY
Key gauges end flat on profit-taking
Dec-23-2025

Indian equity benchmarks traded in a narrow range and ended flat on Tuesday following profit-taking in TECK, IT and Healthcare shares and mixed global cues. A thin year-end trading volumes coupled with foreign capital outflows also weighed on sentiments. Foreign institutional investors offloaded equities worth Rs 457.34 crore on Monday, according to exchange data.

Some of the important factors in trade:

India’s trade negotiations for BTA with US reach at advanced stage: Commerce and Industry Minister Piyush Goyal has said that India’s trade negotiations for a bilateral trade agreement (BTA) with the United States (US) are reached at advanced stage. 

November sees slower 1.8% growth in eight key infrastructure sectors output: The output of eight key infrastructure sectors grew at a slower pace of 1.8 per cent in November 2025 as compared to 5.8 per cent in the same month last year, amid a dip in production of crude oil, natural gas, refinery products, and electricity.

Resilience in economy due to coordinated fiscal monetary polices: A Reserve Bank bulletin said coordinated fiscal, monetary and regulatory policies have helped build resilience in the economy, which is not fully immune to the external sector headwinds. 

Knowledge to drive India’s journey to become $5 trillion economy: The Union Minister for Road Transport and Highways Nitin Gadkari has said that knowledge is the most powerful tool for India to become a $5 trillion economy and the third largest economy in the world.   

Global front: European markets were trading mostly in red with investors largely refraining from making big moves and most of the markets recording thin volumes, ahead of upcoming Christmas holidays. Asian markets settled mostly higher in the backdrop of renewed optimism around AI-related shares that fueled a rally on Wall Street. Expectations of further monetary easing by the Federal Reserve also supported sentiment.

Finally, the BSE Sensex fell 42.64 points or 0.05% to 85,524.84 and the CNX Nifty was up by 4.75 points or 0.02% to 26,177.15.       

The BSE Sensex touched high and low of 85,704.93 and 85,342.99 respectively. There were 13 stocks advancing against 17 stocks declining on the index.

The broader indices ended in green; the BSE Mid cap index rose 0.07%, while Small cap index was up by 0.38%.

The top gaining sectoral indices on the BSE were Basic Materials up by 0.68%, Utilities up by 0.59%, PSU up by 0.56%, Metal up by 0.52% and FMCG up by 0.48%, while TECK down by 0.79%, IT down by 0.71%, Healthcare down by 0.22%, Realty down by 0.21% and Consumer Durables down by 0.10% were the top losing indices on BSE.

The top gainers on the Sensex were ITC up by 1.27%, Ultratech Cement up by 1.24%, Tata Steel up by 1.03%, HDFC Bank up by 0.91% and NTPC up by 0.75%. On the flip side, Infosys down by 1.28%, Bharti Airtel down by 1.15%, Adani Ports &SEZ down by 0.95%, Sun Pharma down by 0.91% and Tech Mahindra down by 0.88% were the top losers.

Meanwhile, while the economy is susceptible to external sector headwinds, RBI Bulletin has pointed out that coordinated fiscal, monetary and regulatory policies have helped build resilience in the economy. Further, on the backdrop of dynamic global environment, continued focus on macroeconomic fundamentals and economic reforms are expected to boost efficiencies and productivity gains to firmly keep the economy on the high-growth trajectory. The bulletin pointed that an unprecedented shift in global trade policies has taken place in 2025, with countries moving towards bilateral renegotiations on tariffs and terms of trade, and its ripple effects on global trade flows and supply chains are still unfolding, leading to high global uncertainties and concerns about the prospects for global growth.

The Bulletin highlighted that the Indian economy grew at its fastest pace in the last six quarters, aided by resilient domestic demand in Q2:2025-26. It added that high-frequency indicators for the month of November indicated that overall economic activity has sustained supported by robust demand. Besides, headline CPI inflation edged up but continued to remain below the lower tolerance level. It noted that financial conditions remained benign, and the flow of financial resources to the commercial sector remained robust.

Moreover, lower merchandise trade deficit, robust services exports, and strong remittance receipts have helped country to moderated its current account deficit in Q2:2025-26 against same period last year. It noted that the foreign direct investment remained higher during April-October 2025 as compared to same period last year. On the softening rupee, it pointed that the strengthening of the US dollar, muted foreign portfolio flows, and uncertainty surrounding the India-US trade deal have weighed on Indian rupee.

CNX Nifty touched high and low of 26,233.55 and 26,119.05 respectively. There were 24 stocks advancing against 26 stocks declining on the index.    

The top gainers on Nifty were Coal India up by 3.73%, Shriram Finance up by 2.42%, ITC up by 1.53%, Ultratech Cement up by 1.30% and Tata Motors Passenger up by 0.96%. On the flip side, Infosys down by 1.48%, Bharti Airtel down by 1.15%, Adani Ports &SEZ down by 1.05%, Sun Pharma down by 0.93% and Tech Mahindra down by 0.92% were the top losers.

European markets were trading mostly in red; UK’s FTSE 100 decreased 4.07 points or 0.04% to 9,861.90 and France’s CAC fell 9.27 points or 0.11% to 8,111.80, while Germany’s DAX gained 116.43 points or 0.48% to 24,400.40.

Asian markets settled mostly higher on Tuesday tracking Wall Street’s gains overnight with continued strength among technology shares, while expectations of further monetary easing in 2026 by the Federal Reserve also supported sentiments. Investors were awaiting key US economic data releases due later today, including the US Gross Domestic Product (GDP) Annualized for Q3 and the Q3 Core Personal Consumption Expenditures (PCE). Chinese shares gained marginally on renewed optimism in the semiconductor sector after reports that US tech giant Nvidia plans to begin shipping its second-most powerful AI chips to Chinese clients ahead of the Lunar New Year. Meanwhile, Japan’s Nikkei ended flat as investors adopted a cautious stance ahead of the government’s finalization of the fiscal 2026 draft budget on Friday. 

Asian Indices

Last Trade            

Change in Points

Change in %      

Shanghai Composite

3,919.98

2.62

0.07

Hang Seng

25,774.14

-27.63

-0.11

Jakarta Composite

8,584.78

-61.06

-0.71

KLSE Composite

1,676.64

5.35

0.32

Nikkei 225

50,412.87

10.48

0.02

Straits Times

4,638.97

28.68

0.62

KOSPI Composite

4,117.32

11.39

0.28

Taiwan Weighted

28,310.47

160.83

0.57
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