Indices trade with small gains; media shares advance; VIX slides 1.70%

The key equity benchmarks traded near the flatline with some positive points in the afternoon trade. The Nifty traded above 26,150 mark. Media, metal and financial services shares advanced while IT, pharma and consumer durables shares declined.

At 13:30 IST, the barometer index, the S&P BSE Sensex rose 9.14 points or 0.01% to 85,576.62. The Nifty 50 index advanced 18.85 points or 0.07% to 26,191.

The broader market outperformed the frontline indices. The S&P BSE Mid-Cap index rose 0.05% and the S&P BSE Small-Cap index added 0.33%.

The market breadth was positive. On the BSE, 2,267 shares rose and 1,784 shares fell. A total of 202 shares were unchanged.

 

Economy:

The combined Index of Eight Core Industries (ICI) increased by 1.8% (provisional) in November, 2025 as compared to the Index in November, 2024. The production of Cement, Steel, Fertilizer and Coal recorded positive growth in November, 2025.

Coal production rose 2.1% in November 2025 compared with November 2024. Crude oil output declined 3.2% year-on-year, while natural gas production fell 2.5% during the same period. Petroleum refinery production also slipped 0.9% in November 2025 over a year ago.

Steel production increased 6.1% year-on-year, cement output surged 14.5%, while electricity generation declined 2.2% in November 2025 compared with November 2024. Fertilizer production increased by 5.6% YoY in November 2025.

Gainers & Losers:

Coal India (up 3.70%), Shriram Finance (up 2.17%), UltraTech Cement (up 1.60%), Tata Motors Passenger Vehicles (up 1.42%) and Power Grid Corporation of India (up 1.26%) were the major Nifty50 gainers.

Infosys (down 1.42%), Bharti Airtel (down 0.96%), Adani Ports and Special Economic Zone (down 0.68%), Bajaj Auto (down 0.68%) and Tata Consultancy Services (down 0.64%) were the major Nifty50 losers.

Stocks in Spotlight:

Shakti Pumps India rose 3.92% after the company received a Letter of Empanelment/Award worth Rs 356.77 crore from the Maharashtra State Electricity Distribution Company (MSEDCL) for the supply of off-grid solar water pumping systems.

RITES added 5.68% after it has won an international order worth $35.2 million from Ndalama Capital, South Africa for the supply and commissioning of in-service Cape gauge ALCO diesel-electric locomotives on a CIF basis.

Larsen & Toubro (L&T) rose 0.28%. The company announced that its Hydrocarbon Onshore business vertical (L&T Onshore) has secured a major engineering, procurement, construction and commissioning (EPCC) order from Bharat Petroleum Corporation (BPCL).

Puravankara zoomed 14.97% after it has acquired a 53.5-acre land parcel in Anekal Taluk, Bengaluru, with a potential gross development value of over Rs 4,800 crore.

Antony Waste Handling Cell surged 7.47% after the company announced that its arm, Antony Lara Enviro Solutions, has secured a contract worth Rs 329.45 crore for the development of a mixed solid waste processing plant in Maharashtra.

IPO Update:

Gujarat Kidney and Super Speciality received bids for 2,97,04,704 shares as against 1,32,26,880 shares on offer, according to stock exchange data at 13:15 IST on Tuesday (23 December 2025). The issue was subscribed 2.25 times. The issue opened for bidding on 22 December 2025 and it will close on 24 December 2025. The price band of the IPO is fixed between Rs 108 and 114 per share.

Global Markets:

European markets opened lower open on Tuesday, extending losses into a second day after hitting record highs last week.

Asia market traded higher, after AI trade lifted major Wall Street indexes overnight.

Nvidia shares rose more than 1% after media reports said that the company was looking to start shipments of its H200 chips to China by mid-February.

In Southeast Asia, Singapore will release its November inflation reading, with media reports stating that the city-states inflation rate is expected to have climbed to its highest in 2025.

Overnight in the U.S., the S&P 500 gained 0.64%, posting its third positive day in a row. The Dow Jones Industrial Average advanced 0.47%, and the Nasdaq Composite climbed 0.52%.

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