.png){kind=logo}
IT was the only sectoral gainer, with broader indices remaining weak and realty witnessing the steepest fall.
Corporate announcements, such as the change in leadership at ONGC and the mega-deal stake sale in ITC Hotels, had an effect on sentiment.
Indian Rupee remained under pressure, gold ETF inflows slowed, and India VIX rose 4% signaling rising uncertainty.
Indian stock market today showed bearish signals at press time, with broader indices revealing weakness. Nifty 50 was down 0.46% to 26,067.30. At the same time, Sensex dipped 0.37% to 85,394.55. BSE midcap index slid 0.2 %, while the smallcap index shed 0.5 %. Realty was the worst-performing sectoral index, down 1 %. IT was the only gainer, while all other sectors traded in the negative zone. Here is how individual shares performed in the stock market today based on Moneycontrol Live Updates.
In the Nifty pack, Hindalco Industries, Tech Mahindra, and TCS shares were leading the gainers' charts, followed by Tata Steel and Max Healthcare. These stocks bucked the broader market trend and therefore cushioned the losses for the indices. However, on the losing side, Bajaj Finance, Asian Paints, Cipla, NTPC, and Maruti Suzuki pulled down the benchmark and reflected cautious investor sentiment across blue-chip names.
Oil and Natural Gas Corporation announced key management changes as its board re-appointed Arun Kumar Singh as Chairman and CEO for another year starting from December 7. However, the stock was still trading at Rs. 240.90, down Rs. 0.45 or 0.19 %. It reached an intraday high of Rs. 241.40 and a low of Rs. 240.40. The trading volumes were comparably much lower at 59,858 shares as against the five-day average of 213,208 shares, a drop of 71.93 % in volume.
The stock is down 11.9 % from its 52-week high of Rs. 273.45 but has surged 17.51 % from its 52-week low of Rs. 205. ONGC stock has a market capitalization of Rs. 303,058.93 crore and forms a part of the energy sector, despite losing some steam lately.
InterGlobe Aviation shares crashed more than 4 % following persistent flight disruptions. Delhi airport issued an early morning advisory cautioning travelers about likely disruptions by IndiGo throughout the day. The DGCA flagged planning lapses and asked for a response from the CEO today, adding to concern about the airline's operational efficiency.
Also Read: US Stock Market Today: NASDAQ 100 Rises 0.7% as Traders Position for Fed Rate Cut After Soft Inflation Reading
Many big corporate announcements influenced the market tone. ICICI Prudential AMC came out with its draft prospectus for a Rs. 10,603-crore IPO, which opens for subscription from December 12-16. The price band has been given as between Rs. 2,061 and Rs. 2,165 per share.
Allotment of the Vidya Wires IPO was finalised today with unlisted shares trading at nearly 8% premium over the IPO price ahead of listing. Investors can check their allotment status on the registrar's website, BSE, and NSE platforms.
Landmark Cars got approval from BYD India to set up a showroom and workshop in Pune via its subsidiary Watermark Cars, thereby expanding its presence in the premium automotive retail space.
ITC Hotels saw substantial shareholding changes with affiliates of British American Tobacco selling 9 % stake valued at around Rs. 3,856 crore at Rs. 205.65 apiece. HCL Capital turned out to be the biggest buyer in picking up a 7 % stake valued at Rs. 2,998 crore. Other institutional investors such as Nippon India MF, Morgan Stanley, Vanguard Group, and Abu Dhabi Investment Authority picked up smaller stakes.
Tata Consumer is reportedly close to a major buyout of Danone's Indian operations, strengthening its position in the value-added nutrition segment against competitors like Nestlé and Abbott.
Goldman Sachs initiated coverage on KIMS, with a 'buy' rating and target price of Rs. 900, citing expectations of 30% revenue growth over FY25-28 and margins around 21%.
Indian rupee opened marginally lower at 90.06 per dollar compared with the previous close of 89.99. Though analysts expect a 25 basis point rate cut from the US Federal Reserve this week, they said that would not result in a meaningful recovery for the rupee. The rupee is under pressure due to India's widening trade deficit and weak foreign portfolio inflows, even if the Fed cuts the rates as expected.
Inflows into India's gold exchange-traded funds stood at $379 million in November, which was a 55% decline over the prior month. Despite the slowdown, this marked the sixth straight month of positive inflows. Year-to-date inflows have reached a record $3.43 billion, pushing assets under management to $12.2 billion. This now compares to just $1.29 billion in 2024.
The India VIX, which measures market volatility, rose 4 %, indicating increased uncertainty among traders about near-term market direction.
Also Read: Best Adani Shares for Long-Term Growth in 2025
The cautious sentiment in the stock market today reflects a tug-of-war between investors weighing corporate developments against currency weakness and sectoral pressures. If IT stocks offer support, broader market weakness hints at the adoption of a wait-and-watch approach by investors. For further market direction in coming sessions, much is going to depend on the Fed policy decision and its subsequent ramifications on foreign flows.
1. Why did the Indian stock market fall today?
Sectoral weakness across most industries, except IT, saw the Indian stock market decline. Broader indices such as midcaps and smallcaps weakened amid growing caution ahead of the US Fed meeting. Additionally, concerns over global inflows, a weak rupee, and corporate uncertainties compounded selling pressure across the market.
2. Why are IndiGo shares falling so sharply?
IndiGo's stock fell by more than 4% after widespread disruptions in flights were reported across several major airports. DGCA pointed out lapses in planning and sought clarification from the CEO as operational worries increased. Travelers faced cancellations and delays, damaging confidence and prompting investor concerns about the carrier's management efficiency.
3. What were the reasons for ONGC's stock being under pressure?
Despite the reappointment of its Chairman and Chief Executive for another year, ONGC's stock remained under pressure owing to muted trading activity and weak market sentiment. The volume was significantly lower, 72% below its five-day average, indicating cautious participation. Sluggishness in the energy sector also contributed to the mild fall.
4. What are the major corporate developments that affect the stock market today?
Key corporate announcements included the filing of a large IPO by the ICICI Prudential AMC, big block deals involving global funds in ITC Hotels, and Tata Consumer nearing a major buyout of Danone’s India business. These events shaped trading decisions, as investors weighed potential sector implications, deal valuations, and long-term positioning.
5. How is the rupee performing against the US dollar?
The rupee opened slightly weaker at 90.06 per dollar and remains under pressure due to India's widening trade deficit and weak foreign portfolio inflows. Despite expectations of a US Federal Reserve rate cut, analysts said that the rupee was unlikely to recover significantly given domestic economic concerns and global risk aversion.
Join our WhatsApp Channel to get the latest news, exclusives and videos on WhatsApp
_____________
Disclaimer: Analytics Insight does not provide financial advice or guidance on cryptocurrencies and stocks. Also note that the cryptocurrencies mentioned/listed on the website could potentially be scams, i.e. designed to induce you to invest financial resources that may be lost forever and not be recoverable once investments are made. This article is provided for informational purposes and does not constitute investment advice. You are responsible for conducting your own research (DYOR) before making any investments. Read more about the financial risks involved here.
