The Indian stock market witnessed a second consecutive session of selling pressure today, erasing gains from last week's record highs. The benchmark indices succumbed to profit-booking in financial and energy heavyweights, mirroring weak global cues and a cautious mood ahead of the RBI policy meet.
-
Nifty 50: The index broke crucial support levels, falling 0.59% (approx. 150 points) to close at 26,032, barely holding above the 26,000 mark.
-
Sensex: The BSE Sensex shed 504 points to end the session at 85,138.
-
Sectoral Trends: The Bank Nifty was the biggest drag, correcting over 1% as private lenders faced heavy selling. On the flip side, the Auto and Pharma indices provided some resilience, ending in the green.
Top Gainers & Losers
Despite the broader weakness, specific stocks remained active due to news flow:
-
Asian Paints: Surged 3.15% to hit a fresh 52-week high. The rally was fueled by a bullish upgrade from UBS, which cited the end of its "margin destruction cycle" and projected strong double-digit volume growth.
-
Dr. Reddy’s Laboratories: Gained 1.3% as investors sought safety in defensive pharma stocks during volatile trade.
-
Maruti Suzuki: Added 0.9%, continuing its upward trajectory on hopes of strong December sales numbers.
Losers:
-
InterGlobe Aviation (IndiGo): Plunged 1.6%, reacting negatively to the weakening rupee, which inflates fuel and lease costs.
-
ICICI Bank & Reliance Industries: Both heavyweights fell over 1%, dragging the indices lower as FIIs trimmed exposure.
IPO News: Active & Upcoming (December 2025)
The primary market remains active with several SME issues open for subscription this week, while the mainboard segment catches its breath after a busy November.
Open for Subscription Today (SME Segment)
Investors looking for listing gains are focusing on these active SME IPOs:
-
Astron Multigrain: The issue opened yesterday and remains open until December 3. The price is set at ₹63 per share.
-
Invicta Diagnostic: Another SME issue open from December 1-3, with a price band of ₹80–₹85.
-
HelloJi Holidays: Opened today (Dec 2) and will close on December 4, offering shares in the range of ₹110–₹118.
-
Neochem Bio Solutions: Also kicked off its subscription today (Dec 2–4), priced at ₹93–₹98.
Recent & Upcoming Mainboard Watch
-
Exato Technologies & Logiciel Solutions: These issues closed today (Dec 2), with allotments expected by Dec 5.
-
Upcoming: Meesho IPO: The market is buzzing with reports that Meesho is eyeing a mainboard listing window from December 3–5, with a tentative price band of ₹105–₹111.
-
Past Major 2025 Listings: The market is still digesting the liquidity impact from major mid-year listings like HDB Financial Services (Listed July 2025) and Ather Energy (Listed May 2025), which have set a high benchmark for valuation expectations in the current market.
Major Stock News
1. Tech Mahindra Consolidates European Operations
In a bid to streamline efficiency, Tech Mahindra announced the merger of its step-down subsidiary LCC North Central Europe B.V. with LCC Europe B.V., effective April 2026. The stock remained flat as the market viewed this as a long-term operational fix.
2. Bata India Hits Multi-Year Low
Shares of Bata India touched a 7-year low of ₹961 today. The stock has been battered by five consecutive sessions of selling, driven by weak consumption data and intense competition from new-age D2C footwear brands.
3. FirstCry (Brainbees) Doubles Down on Fitness
Brainbees Solutions is expanding its fitness footprint. Its arm, Globalbees, acquired an additional 6.5% stake in HS Fitness, taking its total ownership to 86.49%, signalling a deeper push into the wellness economy.
What to Watch Tomorrow?
-
RBI Policy: The market is in "wait-and-watch" mode for the RBI's commentary on inflation and liquidity.
-
Support Levels: Nifty needs to defend 25,800 to avoid a deeper correction. A close below this could trigger further selling in high-beta midcap stocks.