Benchmarks drops in early trade; breadth weak

The domestic equity indices traded with modest losses in the early trade. The Nifty traded below the 25,950 mark. Barring the Nifty FMCG index, all other sectoral indices on the NSE traded in the red, with the IT, metal and realty indices declining the most.

At 09:30 IST, the barometer index, the S&P BSE Sensex, fell 415.91 points or 0.49% to 84,797.45. The Nifty 50 index lost 108.05 points or 0.41% to 25,919.25.

In the broader market, the S&P BSE Mid-Cap index shed 0.37% and the S&P BSE Small-Cap index slipped 0.39%.

The market breadth was weak. On the BSE, 726 shares rose and 1,107 shares fell. A total of 225 shares were unchanged.

The Indian rupee hit another all-time low of 90.8700 against the dollar.

Foreign portfolio investors (FPIs) sold shares worth Rs 1,468.32 crore, while domestic institutional investors (DIIs) were net buyers to the tune of Rs 1,792.25 crore in the Indian equity market on 15 December 2025, provisional data showed.

Stocks in Spotlight:

Atlantaa hit an upper circuit of 5% after the company said that it has entered into a development agreement with Highway Milton Co-operative Housing Society for the redevelopment of a residential project in Borivali, Mumbai. The project is estimated to have a gross development value (GDV) of around Rs 500 crore.

Zydus Lifesciences added 0.50%. The company announced that the USFDA has accepted the resubmission of the new drug application for CUTX-101. The drug, a copper histidinate, is indicated for the treatment of Menkes disease in pediatric patients.

Solex Energy shed 0.69%. The company said that it has partnered with Malaysia-based TT Vision to boost solar manufacturing and engineering capabilities in India.

Numbers to Track:

The yield on India's 10-year benchmark federal paper shed 0.06% to 6.590 compared with previous session close of 6.594.

In the foreign exchange market, the rupee edged lower against the dollar. The partially convertible rupee was hovering at 90.7900 compared with its close of 90.7800 during the previous trading session.

MCX Gold futures for 5 February 2025 settlement fell 0.45% to Rs 133,519.

The US Dollar Index (DXY), which tracks the greenback's value against a basket of currencies, was down 0.03% to 97.93.

The United States 10-year bond yield declined 0.26% to 4.170.

In the commodities market, Brent crude for February 2025 settlement lost 35 cents or 0.58% to $60.21 a barrel.

Global Markets:

The Asian market declined on Tuesday, tracking Wall Street declines as investors continued to rotate out of the artificial intelligence trade in the U.S.

Flash purchasing managers index numbers from S&P Global showed that business activity expanded at a slower pace in Australia in December, with the composite PMI falling to 51.1 from Novembers 52.6.

Overnight in the U.S., the S&P 500 lost 0.16% after beginning the session in positive territory.

The Dow Jones Industrial Average slipped marginally, while the tech heavy Nasdaq Composite fell 0.59%.

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