Indices edge higher in early trade; breadth strong

The domestic equity indices traded with minor gains in the early trade. Investors are keeping a close watch on rupee movement, FII activity, IPO activity and other global developments. The Nifty traded above the 26,200 level.

Realty, media and consumer durables shares advanced while IT, FMCG and auto shares declined.

At 09:25 IST, the barometer index, the S&P BSE Sensex advanced 78.58 points or 0.09% to 85,603.42. The Nifty 50 index jumped 35.30 points or 0.13% to 26,209.50.

In the broader market, the S&P BSE Mid-Cap index rose 0.07% and the S&P BSE Small-Cap index rose 0.38%.

The market breadth was strong. On the BSE, 2,040 shares rose and 856 shares fell. A total of 158 shares were unchanged.

Foreign portfolio investors (FPIs) sold shares worth Rs 1,794.80 crore, while domestic institutional investors (DIIs) were net buyers to the tune of Rs 3,812.37 crore in the Indian equity market on 23 December 2025, provisional data showed.

The stock market will be closed tomorrow, 25 December 2025, on account of Christmas.

Numbers to Track:

The yield on India's 10-year benchmark federal paper shed 0.48% to 6.637 compared with previous session close of 6.637.

In the foreign exchange market, the rupee edged higher against the dollar. The partially convertible rupee was hovering at 89.5750 compared with its close of 89.6300 during the previous trading session.

MCX Gold futures for 5 February 2026 settlement advanced 0.27% to Rs 138,253.

The US Dollar Index (DXY), which tracks the greenback's value against a basket of currencies, was up 0.01% to 97.91.

The United States 10-year bond yield declined 0.31% to 4.156.

In the commodities market, Brent crude for February 2025 settlement added 5 cents or 0.08% to $62.43 a barrel.

Stocks in Spotlight:

GAIL (India) rose 0.76%. The company has signed memorandum of understanding (MoU) with Government of Chhattisgarh for development of a greenfield gas-based fertilizer project in Chhattisgarh.

Vikran Engineering surged 13.20% after the company received a Rs 2035 crore order from Onix Renewables for EPC works for solar plant development.

Emcure Pharmaceuticals advanced 1.60% after the company has received establishment inspection report (EIR). The US FDA has classified the inspection of the facility as no action indicated (NAI). Inspection was conducted from 6 October to 10 October 2025.

Global markets:

Asian market traded advanced on Wednesday, with several indexes set to close early in lieu of the Christmas Eve holiday.

Media reports from Japan said that the country was set to issue about 29.6 trillion yen (about $190 billion) in new government bonds to fund its fiscal 2026 budget.

The South Korean won strengthened against the greenback after media reports stated that South Koreas national pension fund was carrying out strategic foreign exchange hedging activities.

Spot gold prices hit another record Wednesday, crossing $4,500 per ounce for the first time, driven by a weaker dollar, geopolitical tensions and U.S. Federal Reserve rate-cut expectations. Gold has notched a series of all-time highs this year, soaring over 70% year to date.

Overnight in the U.S., stocks rose for a fourth straight session as artificial intelligence names continued to outperform during a holiday-shortened week.

The S&P 500 added 0.46%, closing at a record level of 6,909.79. The broad market index is now just below its intraday all-time high of 6,920.34.

The Nasdaq Composite climbed 0.57% to end at 23,561.84. Gains in tech giants such as Nvidia and Broadcom lifted the index. The Dow Jones Industrial Average rose 79.73 points, or 0.16%, and settled at 48,442.41.

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