Benchmarks nudge lower; breadth weak

The domestic equity indices traded with minor losses in the early trade. The Nifty traded below the 25,800 level. Barring the Nifty IT index, all other sectoral indices on the NSE traded in the red, with the auto, pharma and realty indices declining the most.

At 09:30 IST, the barometer index, the S&P BSE Sensex, declined 122.38 points or 0.14% to 84,437.27. The Nifty 50 index added 29.30 points or 0.12% to 25,789.20.

The broader market underperformed the frontline indices, the S&P BSE Mid-Cap index fell 0.53% and the S&P BSE Small-Cap index slipped 0.85%.

The market breadth was weak. On the BSE, 1,139 shares rose and 1,725 shares fell. A total of 181 shares were unchanged.

Foreign portfolio investors (FPIs) bought shares worth Rs 1,171.71 crore, while domestic institutional investors (DIIs) were net buyers to the tune of Rs 768.94 crore in the Indian equity market on 17 December 2025, provisional data showed.

Stocks in Spotlight:

KP Energy rose 1.24%. The company said that it has signed a memorandum of understanding (MoU) with the Republic of Botswana to collaborate on the development of renewable energy and power infrastructure projects in the country.

Jio Financial Services shed 0.36%. The company said that its board has approved the appointment of Venkata Peri as group chief operating officer (COO), effective December 22.

IndusInd Bank slipped 0.62%. The company informed that Shiv Bhasin has resigned from his position as chief technology officer (CTO), with effect from 16 January 2026.

Numbers to Track:

The yield on India's 10-year benchmark federal paper rose 0.03% to 6.603 compared with previous session close of 6.601.

In the foreign exchange market, the rupee edged higher against the dollar. The partially convertible rupee was hovering at 90.3775 compared with its close of 90.3800 during the previous trading session.

MCX Gold futures for 5 February 2025 settlement fell 0.18% to Rs 134,654.

The US Dollar Index (DXY), which tracks the greenback's value against a basket of currencies, was up 0.07% to 98.07.

The United States 10-year bond yield declined 0.17% to 4.142.

In the commodities market, Brent crude for February 2025 settlement gained 38 cents or 0.64% to $60.60 a barrel.

Global Markets:

Asia market edged lower on Thursday as investors on Wall Street continued to rotate out of tech.

Artificial intelligence-related stocks dragged indexes after a media report stated that Oracles primary investor, Blue Owl Capital, has pulled out from funding one of its data center projects.

Over in Asia, the Bank of Japan will kick off its two-day meeting, with the central bank expected to raise rates to 0.75% Friday, its highest level in 30 years.

Overnight in the U.S., all three major indexes fell, with the S&P 500 down 1.16%, and the Nasdaq Composite seeing the largest loss of 1.81%. The Dow Jones Industrial Average slipped 0.47%.

Traders are awaiting the release of the U.S. consumer price index reading for November, due Thursday morning. It will mark the first consumer inflation report issued to the public since the government shutdown ended last month. Media reports stated that the headline inflation is expected to have grown at a pace of 3.1% on a year-over-year basis.

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