Benchmarks nudge lower in early trade; breadth weak

The domestic equity indices traded with modest losses in the early trade. The Nifty traded below the 25,900 level. Barring the Nifty Media index, all other sectoral indices on the NSE traded in the red, with the realty, auto and healthcare indices declining the most.

At 09:30 IST, the barometer index, the S&P BSE Sensex, fell 366.34 points or 0.43% to 84,901.32. The Nifty 50 index lost 127.55 points or 0.49% to 25,919.10.

In the broader market, the S&P BSE Mid-Cap index slipped 0.38% and the S&P BSE Small-Cap index shed 0.17%.

The market breadth was negative. On the BSE, 1,313 shares rose and 1,768 shares fell. A total of 252 shares were unchanged.

Foreign portfolio investors (FPIs) sold shares worth Rs 1,114.22 crore, while domestic institutional investors (DIIs) were net buyers to the tune of Rs 3,868.94 crore in the Indian equity market on 12 December 2025, provisional data showed.

Stocks in Spotlight:

GPT Infraprojects jumped 5.80% after the company announced that it has received a contract worth Rs 53.6 crore from PCMM, South Eastern Railway for the supply of concrete sleepers from its factory in Panagarh, West Bengal.

Oriental Rail Infrastructure added 1.30% after the company announced that its wholly owned subsidiary, Oriental Foundry, has secured an order worth Rs 1.10 crore from North Western Railway.

Biocon shed 0.28%. The company announced that its subsidiary, Biocon Biologics, has entered into a new settlement and license agreement with Regeneron and Bayer for its biosimilar Aflibercept (40mg/ml), Yesafili, covering Europe and the rest of the world.

Numbers to Track:

The yield on India's 10-year benchmark federal paper fell 0.14% to 6.587 compared with previous session close of 6.596.

In the foreign exchange market, the rupee edged lower against the dollar. The partially convertible rupee was hovering at 90.5100 compared with its close of 90.4950 during the previous trading session.

MCX Gold futures for 5 February 2025 settlement rose 0.71% to Rs 134,575.

The US Dollar Index (DXY), which tracks the greenback's value against a basket of currencies, was up 0.01% to 98.03.

The United States 10-year bond yield declined 0.33% to 4.181.

In the commodities market, Brent crude for February 2025 settlement added 33 cents or 0.54% to $61.45 a barrel.

Global Markets:

Most Asian markets fell on Monday, pressured by steep losses in technology shares as weak guidance from U.S. firms left investors worried about stretched, artificial intelligence-driven valuations.

Japan has announced its fourth-quarter Tankan numbers. The index for business optimism among large Japanese manufacturers increased to +15 for the fourth quarter, hitting the highest level in four years.

The latest reading compared to the +14 increase in the previous quarter. The non-manufacturing index for the fourth quarter came in at +34. Meanwhile, retail sales in China rose 1.3% last month from a year earlier, slowing from the 2.9% rise in the prior month.

Industrial production climbed 4.8% in November from a year ago, down from 4.9% in the prior month.

On Friday in the U.S., the S&P 500 fell 1.07%, retreating from a record, and the Nasdaq Composite declined 1.69%. The Dow Jones Industrial Average finished down 0.51% after scoring a new intraday all-time high earlier in the session.

AI-related stocks faced pressure during the session, with stocks of Broadcom plunging more than 11%, and dragging the broad market index and tech-heavy Nasdaq. AMD, Palantir Technologies and Micron also declined.

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