Sensex, Nifty slip for third day as FII outflows, trade worries weigh

The headline equity indices ended with marginal losses today, extending their decline to a third straight session. Sentiment stayed cautious amid continued FII selling and the absence of clear progress on a potential U.S.-India trade deal. Global cues were mixed, with rising Japanese bond yields signalling tighter liquidity and weighing on equity valuations. Meanwhile, softer U.S. labour data has raised recession worries while reinforcing expectations of a more accommodative Federal Reserve. The Nifty closed below the 25,850 level, dragged by consumer durables stocks, even as PSU banks, metals and IT shares saw selective buying interest.

The S&P BSE Sensex fell 120.21 points or 0.14% to 84,559.65. The Nifty 50 index lost 41.55 points or 0.16% to 25,818.55. In three consecutive trading sessions, the Sensex slipped 0.83% while the Nifty declined 0.87%.

HDFC Bank (down 0.99%), ICICI Bank (down 0.96%) and Adani Ports & SEZ (down 0.89%) were major drags today.

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

The market breadth was weak. On the BSE, 1,475 shares rose and 2,694 shares fell. A total of 179 shares were unchanged.

The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, declined 2.23% to 9.84.

Numbers to Track:

The yield on India's 10-year benchmark federal paper rose 0.24% to 6.589 compared with the previous session close of 6.573.

In the foreign exchange market, the rupee edged higher against the dollar. The partially convertible rupee was hovering at 90.3850 compared with its close of 90.9375 during the previous trading session.

MCX Gold futures for 5 February 2025 settlement slipped 0.06% to Rs 134,323.

The US Dollar Index (DXY), which tracks the greenback's value against a basket of currencies, was up 0.36% to 98.57.

The United States 10-year bond yield added 0.51% to 4.170.

Brent crude rose sharply in the commodities market. February 2025 futures gained $1.33, or 2.26%, to $60.25 a barrel. Oil prices climbed after U.S. President Donald Trump said he would order a "total and complete blockade" of all sanctioned oil tankers entering or leaving Venezuela, raising concerns over potential supply disruptions.

Global Markets:

Dow Jones futures are up by 111 points, signaling a positive start for US stocks today.

Most European indices advanced on Wednesday as investors looked ahead to a series of regional central bank policy meetings, while softer inflation data provided support to the U.K. market.

The U.K.s inflation rate cooled sharply to 3.2% in November, boosting the chances of the Bank of England cutting interest rates at its final meeting of the year on Thursday.

Most Asian shares ended higher as investors parsed trade data that came out of Japan.

Japans exports in November grew 6.1% year on year, data from the countrys finance ministry released Wednesday showed. The growth was higher than the 3.6% rise seen in the previous month.

Overnight in the U.S., the S&P 500 fell for a third session as traders digested the delayed release of the November jobs report. The broad market index dropped 0.24% to settle at 6,800.26, while the Nasdaq Composite gained 0.23% to end at 23,111.46. The Dow Jones Industrial Average declined 302.30 points, or 0.62%, to close at 48,114.26.

Nonfarm payrolls grew slightly more than expected in November but slumped in October while unemployment hit its highest in four years, the Bureau of Labor Statistics reported Tuesday in numbers delayed by the government shutdown.

Job growth totaled a seasonally adjusted 64,000 for the month, better than a widely reported estimate of 45,000 and up from a sharp decline in October.

The unemployment rate rose to 4.6%, its highest level since September 2021. A more encompassing measure that includes discouraged workers and those holding part-time jobs for economic reasons swelled to 8.7%, its peak going back to August 2021.

New Listings:

Shares of Nephrocare Heath Services were at Rs 471.60 on the BSE, a premium of 2.52% compared with the issue price of Rs 460.

The stock debuted at Rs 491.70 on the BSE, exhibiting a premium of 6.89% over the issue price. The stock has hit a high of 498.70 and a low of 463.50. On the BSE, 18.72 lakh shares of the company were traded in the counter.

Shares of Park Medi World were at Rs 148.15 on the BSE, a discount of 8.55% compared with the issue price of Rs 162.

The stock debuted at Rs 155.60, marking a discount of 3.95% to the issue price. The stock has hit a high of 165.75 and a low of 146.85. On the BSE, 29.32 lakh shares of the company were traded in the counter.

Stocks in Spotlight:

Meesho surged 20% to Rs 216.35 after a foreign brokerage initiated coverage on the stock with a buy rating and set a target price of Rs 220, citing multiple long-term growth drivers.

Indian Overseas Bank slumped 6.15% to end at Rs 34.32 after the Government of India announced its proposal to sell 3% stake in the bank through an offer for sale (OFS) at a floor price of Rs 34 per share. Through OFS, Government of India proposes to sell up to 38,51,31,796 equity shares, representing a 2% stake, with an option to sell additional 1% stake or 19,25,65,898 equity shares in case of over subscription. On Day 1 (T-day), as of 15:30 IST, the OFS received subscription for 39,95,07,082 shares. It was subscribed 115.25% on the base of non-retail offer size of 34,66,18,616 shares.

Larsen & Toubro fell 0.06%. The EPC major announced that it has secured large orders for its Buildings & Factories (B&F) vertical in India. The value of the contract, according to L&T's internal classification, ranges between Rs 2,500 crore and Rs 5,000 crore.

Shriram Finance added 1.80% after the companys board will meet on Friday, 19 December 2025 to consider raising funds by way of equity shares or any other eligible securities through various modes.

Lupin gained 0.96%. The company said that it has received the establishment inspection report (EIR) from the United States Food and Drug Administration (US FDA) for its injectable facility in Nagpur, India, with a voluntary action indicated (VAI) classification.

Refex Industries declined 8.29%. The company has bagged an order worth approximately Rs 27.50 crore from a major power producer (PSU) for the transportation of pond ash to NHAI road projects.

Ahluwalia Contracts (India) rose 0.62%. The company received an order from Bihar State Tourism Development Corporation (BSTDC) for civil construction work on EPC Mode at Punauradham, Sitamarhi, Bihar. The order is valued at Rs 888.38 crore and is scheduled to be completed within 42 months.

Apeejay Surrendra Park Hotels added 1.02%. The company said that it has signed an agreement to purchase new hotel assets in Kerala, which include a lakefront property named 'Purity' and a luxury houseboat named 'Discovery'.

Rail Vikas Nigam (RVNL) rallied 0.76% after the company said it has secured a Rs 165.04 crore order from North Eastern Railway for constructing the substructure of Important Bridge No. 50, a double-line bridge over the river Gandak.

Niraj Cement Structurals rallied 3.13% after the company secured an order worth Rs 130.83 crore from the public works department (PWD).

Route Mobile declined 2.58% after Mark James Reid, chairman of the companys board, will be leaving the Proximus Group by end of January 2026 to pursue other career opportunities in the UK.

IPO Update:

KSH International received bids for 34,95,102 shares as against 1,36,16,438 shares on offer, according to stock exchange data at 16:46 IST on Wednesday (17 December 2025). The issue was subscribed 0.26 times. The issue opened for bidding on 16 December 2025 and it will close on 18 December 2025. The price band of the IPO is fixed between Rs 365 and 384 per share.

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