Closing Bell: Nifty below 25,900, Sensex slips 120 pts; PSU Banks outperform

Indian equity indices ended on a negative note for the third consecutive session on December 17 with Nifty below 25,900. At close, the Sensex was down 120.21 points or 0.14 percent at 84,559.65, and the Nifty was down 41.55 points or 0.16 percent at 25,818.55.

We wrap up today's edition of the Moneycontrol live market blog, and will be back tomorrow morning with all the latest updates and alerts. Please visit https://www.moneycontrol.com/markets/global-indices for all the global market action.

Today, the benchmark indices experienced selling pressure at higher levels. The Nifty ended 42 points lower, while the Sensex declined by 120 points. Among sectors, the Nifty PSU Bank index rallied 1.20 percent, whereas the Media index shed 1.80 percent.

Technically, after a muted open , the market faced resistance near 25,920/84900 and reversed sharply. On daily charts, it has formed a bearish candle, and on intraday charts, it is maintaining a lower top formation, which is largely negative.

We are of the view that the intraday market sentiment is weak, but a fresh selloff is possible only if the level of 25,775/84300 is broken below. If that happens, the market could retest the levels of 25,700-25,650/84000-83800. On the flip side, if the market moves above 25,920/84900, the sentiment could improve. Above this level, the market could rise to 26,000-26,050/85200-85400.

Currently, the intraday market texture is non-directional; therefore, level-based trading would be the ideal strategy for day traders.

Today, the Indian equity markets ended a volatile session almost flat, as late buying in select financial and defensive stocks helped offset losses caused by heavyweights in the banking space and continued foreign investor selling. The muted close reflected the absence of strong domestic triggers, along with ongoing currency volatility and uncertainty around the timing and pace of global interest rate cuts.

Benchmark indices traded in a narrow range throughout the day. Both indices ended with marginal losses of around 0.15%, after opening slightly higher. Midcap and smallcap stocks also saw mild weakness. Investors remained cautious due to mixed global cues while lower crude oil prices provided some macroeconomic comfort, this positive was offset by continued weakness in the rupee.

Large private banks like HDFC Bank and ICICI Bank were key drags. In contrast, select PSU, infrastructure, and defence related stocks gained, supported by fresh order wins and sector specific interest. Near-term market moves are likely to remain data driven and stock specific rather than index led.

Nifty faced stiff resistance near the previous day’s high of 25,929 and drifted lower to close at 25,819, down 0.16%. The index has now closed below its 20-day EMA for two consecutive sessions, indicating weakening short-term momentum. The MACD slope turning downward also suggests a loss of bullish momentum. The downward sloping trendline connecting the highs of 26,326 (1st Dec) and 26,179 (8th Dec) continues to cap upside, making a pullback unlikely unless breached decisively.

On the sectoral front, Nifty PSU Bank ended the day as the top sectoral gainer, followed by Nifty IT. On the other hand, Nifty Media and Nifty Realty emerged as the top two sectoral losers. With regards to stocks, SBI and Shriram Finance, emerged as the top stock gainers amongst the Nifty pack while Max Health & Apollo Hospitals emerged as the top two losers.

The Midcap index failed to sustain above its 20-day EMA on 13th December and has briefly corrected over the last two sessions. This rejection from a key short-term moving average indicates waning momentum after the recent pullback.

After a sharp rebound from 16,783 on 9th December to 17,442 on 15th December, the Smallcap index appears to be losing momentum. Consecutive red closes of over 0.7% over the last two sessions suggest profit booking at higher levels.

The market breadth continued to remain weak with the advance-decline ratio skewed in the favour of bears at days close. A total of 353 stocks out of the Nifty 500 universe ended in red.

Nifty View

Going ahead, for Nifty, the previous swing low zone of 25,700-25,650 will act as important support. If the index slips below the 25,650 level, it could trigger a further correction upto the 25,500 level. On the upside, the zone of 25,950-26,000 will act as a crucial hurdle for the index. Any sustainable move above the 26,000 will lead to a pullback rally upto the 26,200 level.

Bank Nifty View

Bank Nifty has broken below its upward sloping trendline drawn from the low of 57,158 made of 7th November and 58,800 made 11th December, signalling a potential trend reversal. Adding to the caution, DI- crossing above DI+ on the ADX indicates rising bearish pressure and strengthening downside momentum. Near-term sentiment remains cautious unless the index quickly reclaims the broken trendline.

Going ahead, 58,600-58,500 will act as important support for the index. This zone which acted as a resistance earlier, can now act as a support. Any sustainable move below the 58,500 will lead to further correction upto the 58,000 level in the short term. While on the upside, the zone of 59,200-59,300 will act as an important hurdle for the index.

Global market signals remain mixed. Rising Japanese bond yields point to tighter liquidity and pressure on equity valuations, while soft U.S. labour data amplifies recession concerns and strengthens expectations of a more accommodative Fed. Domestically, the RBI’s efforts to stabilise the rupee lent support to rate-sensitive sectors.

Foreign investors are pulling out funds, and emerging markets are struggling, while developed economies remain strong, showing that investors are becoming more cautious about emerging markets. Although currency stability offers temporary relief, global uncertainty and sustained foreign selling keep upside potential limited, leaving markets skewed toward a bearish bias.

Nifty has remained in the bears’ grip, as the index stayed below the 21 EMA for yet another session, confirming a bearish short-term trend. The RSI also maintained a bearish tone, continuing with its bearish crossover.

On the lower end, the index once again found support at the 50 EMA. However, repeated retesting of a moving average within a short span raises doubts about the strength of this support.

Overall market breadth remains weak. A decisive slip below 25,700 could trigger a correction towards 25,500–25,400. On the higher end, the 25,950–26,000 zone is likely to act as a crucial resistance area

Indian rupee ended 66 paise higher at 90.37 per dollar on Wednesday versus previous close of 91.03.

Indian equity indices ended on a negative note for the third consecutive session on December 17 with Nifty below 25,900.

At close, the Sensex was down 120.21 points or 0.14 percent at 84,559.65, and the Nifty was down 41.55 points or 0.16 percent at 25,818.55. About 1326 shares advanced, 2498 shares declined, and 144 shares unchanged.

Shriram Finance, SBI, Eicher Motors, Hindalco Industries, Tata Consumer were among top gainers on the Nifty, while losers included Max Healthcare, SBI Life Insurance, HDFC Life, Trent, Apollo Hospitals.

BSE Midcap index fell 0.6%, while smallcap index shed nearly 1%.

Among sectors, PSU Bank index added 1.2%, while media index shed 2%, while Private Bank, Realty, Consumer Durables, FMCG, Healthcare down 0.4-1%.

The Indian rupee appreciated after a five-day losing streak, bolstered by suspected aggressive intervention from the central bank. Meanwhile, the US dollar gained strength against its peers despite lackluster US employment figures on Tuesday. High volatility is expected to persist in the forex market amid shifting economic and geopolitical headlines. Technically, USD/INR has immediate resistance at 90.60 and support at 89.70.

#1 AUM growth of over 20 percent supported by strong disbursements

#2 RoA targeted at 2.8 percent by Q4FY27 with stable credit costs

#3 Borrowing costs are being optimised with NIM plus fees seen at 10-10.5 percent

J.K. Shah Classes (JKSC), a Veranda enterprise, has partnered with Jaro Education to expand access to structured and outcome-driven commerce education across India.

Veranda Learning Solutions was quoting at Rs 182.65, down Rs 4.45, or 2.38 percent.

It has touched an intraday high of Rs 190.00 and an intraday low of Rs 181.50.

It was trading with volumes of 6,277 shares, compared to its five day average of 5,727 shares, an increase of 9.60 percent.

#1 Earnings downgrade cycle is expected to continue

#2 Store additions trail expectations amid rising quick commerce competition

#3 Valuation remains stretched at 75x FY27 earnings

VL Infraprojects, as part of a Ioint Venture (IV) wherein VL.Infraprojects Limited holds 80% share and H.M. Electro Mech, Ahmedabad holds 20% share, has received work order of Rs 42,12,15,737 excluding GST from Gujarat Water Supply & Sewerage Board (GWSSB).

#1 Competitive concerns from Swiggy fundraise & potential Zepto IPO are overstated

#2 Blinkit maintains strong leadership & best-in-class profitability

#3 Food delivery growth moderation is unlikely to impact valuation

Eternal was quoting at Rs 284.85, up Rs 0.50, or 0.18 percent.

It has touched an intraday high of Rs 290.50 and an intraday low of Rs 284.15.

It was trading with volumes of 1,568,346 shares, compared to its five day average of 2,357,194 shares, a decrease of -33.47 percent.

The Sensex was down 134.91 points or 0.16 percent at 84,544.95, and the Nifty was down 45.85 points or 0.18 percent at 25,814.25. About 1268 shares advanced, 2514 shares declined, and 132 shares unchanged.

QIB – 0.00 times

NII - 0.11 times

Retail – 0.43 times

Overall – 0.24 times

Indian rupee is trading higher at 90.37 per dollar versus previous close of 91.03.

Silver extended its remarkable rally, breaking above the $66 per ounce level for the first time on record, driven by a combination of tight physical supply conditions, rising safe-haven demand, strong inflows into silver-backed ETFs, and growing expectations of US Federal Reserve rate cuts. Investment demand remains robust as silver-backed ETFs continue to attract buying interest, with global holdings on pace for a sixth consecutive week of inflows. Momentum has been further amplified by reports that China plans to restrict silver exports from 2026, a development that could disrupt a key supply source and intensify pressure on the global market.

With Chinese silver inventories already at their lowest levels in a decade, any export curbs risk worsening the physical squeeze, reinforcing the bullish narrative and potentially sustaining elevated prices in the near term. On the MCX, silver jumped above Rs. 205,000 per 10 grams, pushing year-to-date gains to about 134%, further buoyed by rupee depreciation.

Spot silver’s rally, with YTD gains of over 120%, has outpaced gold, which has risen around 65% so far this year. The strength reflects a historic squeeze driven by tight supply, rising lease rates, and brighter demand prospects linked to silver’s indispensable role in the global green energy transition. Additionally, silver’s inclusion on the US “critical minerals” list underscores strategic supply risks and the potential for higher import costs or policy-driven disruptions.

Today, gold is holding steady near $4,320 per ounce as the latest US jobs data delivered mixed signals, prompting traders to refrain from significantly increasing near-term rate-cut bets. The BLS report showed US nonfarm payrolls declined by 105,000 jobs in October while the unemployment rate rose to 4.6%, the highest level since September 2021, before 64,000 jobs were added in November. Gold paused for direction as traders await US inflation data for clearer policy cues, after the November employment figures suggested a cooling labor market but not an outright weakening one.

#1 Growth opportunities expand across NRI remittances, cross-border & corporate lending

#2 Equity infusion & potential rating upgrade to ease funding costs

#3 MFI stress moderates, while card slippages remain elevated near term

The Sensex was down 193.27 points or 0.23 percent at 84,486.59, and the Nifty was down 63.05 points or 0.24 percent at 25,797.05. About 1270 shares advanced, 2444 shares declined, and 146 shares unchanged.

NTPC was quoting at Rs 321.15, up Rs 0.15, or 0.05 percent.

It has touched an intraday high of Rs 322.45 and an intraday low of Rs 319.25.

It was trading with volumes of 76,455 shares, compared to its five day average of 595,221 shares, a decrease of -87.16 percent.

In the previous trading session, the share closed down 0.88 percent or Rs 2.85 at Rs 321.00.

The share touched a 52-week high of Rs 371.10 and a 52-week low of Rs 292.70 on 25 March, 2025 and 17 February, 2025, respectively.

Currently, the stock is trading 13.46 percent below its 52-week high and 9.72 percent above its 52-week low.

Market capitalisation stands at Rs 311,408.43 crore.

#1 Margin to benefit from lower tax & transmission tariffs

#2 DTC transition nears completion, supporting volume growth

#3 Risk-reward turns favourable after sharp stock correction

Indraprastha Gas was quoting at Rs 192.85, up Rs 9.65, or 5.27 percent.

It has touched an intraday high of Rs 196.85 and an intraday low of Rs 186.70.

It was trading with volumes of 1,252,483 shares, compared to its five day average of 112,043 shares, an increase of 1,017.86 percent.

In the previous trading session, the share closed down 1.24 percent or Rs 2.30 at Rs 183.20.

The share touched a 52-week high of Rs 229.20 and a 52-week low of Rs 172.00 on 09 July, 2025 and 16 April, 2025, respectively.

Currently, the stock is trading 15.86 percent below its 52-week high and 12.12 percent above its 52-week low.

Market capitalisation stands at Rs 26,999.03 crore.

#1 Company operates an asset-light, negative working capital business model, ensuring positive cash flows

#2 Net merchandise value is estimated to grow at a 30 percent CAGR over FY25-30

#3 Contribution margin & adjusted EBITDA margin reaching 6.8 percent & 3.2 percent of NMV by FY30

#4 Growth is driven by ATUs rising from 19.9 crore to 51.8 crore

#5 Order frequency increasing from 9.2x to 14.7x

#6 Average order value declines from Rs 274 to Rs 233 as logistics efficiencies are passed on

The board of directors’ of the company, in its meeting held today has accorded investment approval for “Refurbishment of Bhadrawati (Chandarpur) HVDC (2 X 500 MW) back-to-back system under additional capital expenditure 2024-29 tariff block” at an estimated cost of Rs 1,226.93 crore, with an implementation

schedule of 36 months from the date of award.

Power Grid Corporation of India was quoting at Rs 261.50, up Rs 1.05, or 0.40 percent.

It has touched an intraday high of Rs 262.75 and an intraday low of Rs 259.50.

It was trading with volumes of 184,049 shares, compared to its five day average of 391,584 shares, a decrease of -53.00 percent.

In the previous trading session, the share closed down 0.71 percent or Rs 1.85 at Rs 260.45.

The share touched a 52-week high of Rs 329.30 and a 52-week low of Rs 247.50 on 18 December, 2024 and 28 February, 2025, respectively.

Currently, the stock is trading 20.59 percent below its 52-week high and 5.66 percent above its 52-week low.

Market capitalisation stands at Rs 243,210.79 crore.

#1 Recovery in differential assembly business is expected from CY2026

#2 Traction motors & railways are key growth drivers

#3 Differential gears gain traction with a €300 m EU opportunity

#4 Mexico Tariffs are expected to have minimal impact

QIB – 0.00 times

NII - 0.11 times

Retail – 0.41 times

Overall – 0.23 times

Indian rupee is trading higher by 66 paise at 90.37 per dollar versus previous close of 91.03.

Silver’s surge beyond Rs 2.05 lakh per kg and above $65 an ounce, it is entering a phase where risk management becomes as important as conviction. Silver would probably break the all-time high again before retracing and moving up again, reflecting the strength of underlying momentum. The rally has been driven by a powerful mix of global rate cuts, rising liquidity, a softer dollar and structurally strong industrial demand.

However, the pace of the move suggests prices are technically overbought in the near term, increasing the likelihood of consolidation or a corrective phase. This should not be mistaken for a breakdown in the trend. Any retracement would likely be a healthy reset that improves the risk-reward for fresh participation.

Medium-term fundamentals remain constructive, supported by monetary easing and continued demand from energy transition and technology sectors. Overall, the broader bias remains upward once volatility eases.

#1 Demerger approval adds to strong commodity tailwinds

#2 Company’s H1FY26 consolidated EBITDA was in-line with estimates

#3 Company has secured a much-delayed NCLT approval for its demerger

#4 Company appears on track to conclude the restructuring by FY26-end

#5 Buoyant commodity prices place VEDL in a sweet spot

#6 Multiple growth projects in aluminium & power segments commissioning over FY26-27

#7 Estimate +17 percent/24 percent EBITDA/EPS CAGR over FY2025-28

#8 EBITDA/EPS CAGR led by higher volumes & strong commodity prices

#9 Parent (VRL) debt concerns are well behind

#10 Bull-case scenario on spot commodity prices suggests 10% higher EBITDA (attributable)

#11 Bull-case scenario on spot commodity prices suggests value of Rs 770/share on FY28 financials

Vedanta was quoting at Rs 570.40, up Rs 1.05, or 0.18 percent.

It has touched a 52-week high of Rs 579.95.

It has touched an intraday high of Rs 579.95 and an intraday low of Rs 566.05.

It was trading with volumes of 1,017,390 shares, compared to its five day average of 730,093 shares, an increase of 39.35 percent.

The government will sell up to 38.51 crore equity shares of the bank (equivalent to 2% of the paid-up equity as the base offer size) on December 17–18, with an option to additionally sell 19.25 crore shares (1% stake), through a separate designated window of the BSE and NSE. The floor price has been fixed at Rs 34 per share.

Lupin 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 satisfactory Voluntary Action Indicated (VAI) classification.

The EIR was issued following an inspection of the facility from September 8 to September 16, 2025.

Lupin was quoting at Rs 2,107.70, up Rs 18.05, or 0.86 percent.

It has touched an intraday high of Rs 2,127.40 and an intraday low of Rs 2,090.75.

It was trading with volumes of 13,139 shares, compared to its five day average of 24,629 shares, a decrease of -46.65 percent.

In the previous trading session, the share closed down 0.02 percent or Rs 0.50 at Rs 2,089.65.

The share touched a 52-week high of Rs 2,403.45 and a 52-week low of Rs 1,774.00 on 02 January, 2025 and 07 April, 2025, respectively.

Currently, the stock is trading 12.31 percent below its 52-week high and 18.81 percent above its 52-week low.

Market capitalisation stands at Rs 96,279.48 crore.

#1 A leading packaged spice & convenience food company with strong brands MTR & eastern

#2 Stock corrected 18 percent since listing amid a soft Q2FY26 margin performance

#3 Earnings growth expected to accelerate from H2FY26

#4 Earnings growth expected on revenue recovery, margin expansion & attractive valuations

#5 Forecast revenue & EPS CAGR at 9 percent & 13 percent over FY26–28

#6 Key risks include slower revenue ramp-up, raw material volatility & dilutive M&A

Orkla India was quoting at Rs 611.05, down Rs 2.75, or 0.45 percent.

Rail Vikas Nigam Limited has received Letter of Award from North Eastern Railway for construction of substructure of Important Bridge No. 50 (14x61.0 m) with Double D type well foundation for double line with RDSO 25 T Axel loadingstandard over river Gandak between Paniyahwa - Valmikinagar station in connectionwith Doubling work between Gorakhpur Cantt- Valmikinagar section of North Eastern Railway.

The project cost is Rs 165,04,33,673.76 and is to be executed in 24 months.

Rail Vikas Nigam was quoting at Rs 307.70, down Rs 2, or 0.65 percent.

It has touched an intraday high of Rs 310.90 and an intraday low of Rs 307.30.

It was trading with volumes of 160,744 shares, compared to its five day average of 299,581 shares, a decrease of -46.34 percent.

Shareholders have approved the redesignation and appointment of Ashok Kajaria as Chairman, Chetan Kajaria as Vice Chairman, and Rishi Kajaria as Managing Director of the company.

Kajaria Ceramics was quoting at Rs 1,089.05, down Rs 0.20, or 0.02 percent.

It has touched an intraday high of Rs 1,096.25 and an intraday low of Rs 1,080.85.

It was trading with volumes of 4,581 shares, compared to its five day average of 27,885 shares, a decrease of -83.57 percent.

In the previous trading session, the share closed down 0.68 percent or Rs 7.50 at Rs 1,089.25.

The share touched a 52-week high of Rs 1,322.00 and a 52-week low of Rs 745.00 on 08 August, 2025 and 07 April, 2025, respectively.

Currently, the stock is trading 17.62 percent below its 52-week high and 46.18 percent above its 52-week low.

Market capitalisation stands at Rs 17,345.55 crore.

Hindustan Zinc was quoting at Rs 581.25, up Rs 13.50, or 2.38 percent.

It has touched a 52-week high of Rs 587.65.

It has touched an intraday high of Rs 587.65 and an intraday low of Rs 575.10.

It was trading with volumes of 908,971 shares, compared to its five day average of 1,206,954 shares, a decrease of -24.69 percent.

In the previous trading session, the share closed down 0.05 percent or Rs 0.30 at Rs 567.75.

Market capitalisation stands at Rs 245,596.67 crore.

Protean eGov Technologies has approved the acquisition of a 4.95% equity stake in NSDL Payments Bank Ltd. (NPBL), a wholly owned subsidiary of National Securities Depository Limited (NSDL).

Protean eGov Technologies was quoting at Rs 781.10, down Rs 9.15, or 1.16 percent.

It has touched an intraday high of Rs 799.95 and an intraday low of Rs 777.60.

In the previous trading session, the share closed up 1.11 percent or Rs 8.65 at Rs 790.25.

The share touched a 52-week high of Rs 2,068.70 and a 52-week low of Rs 716.50 on 23 December, 2024 and 12 August, 2025, respectively.

Currently, the stock is trading 62.24 percent below its 52-week high and 9.02 percent above its 52-week low.

Market capitalisation stands at Rs 3,171.95 crore.

Dilip Buildcon was quoting at Rs 472.50, up Rs 32.35, or 7.35 percent.

It has touched an intraday high of Rs 475.25 and an intraday low of Rs 440.50.

It was trading with volumes of 20,780 shares, compared to its five day average of 14,280 shares, an increase of 45.52 percent.

In the previous trading session, the share closed down 1.65 percent or Rs 7.40 at Rs 440.15.

The share touched a 52-week high of Rs 587.90 and a 52-week low of Rs 363.45 on 24 September, 2025 and 28 January, 2025, respectively.

Currently, the stock is trading 19.63 percent below its 52-week high and 30 percent above its 52-week low.

Market capitalisation stands at Rs 7,675.52 crore.

The board has approved the appointment of Haribabu Bodepudi as Managing Director and Group Chief Executive Officer of the company for a period of two consecutive years, effective December 16.

It also approved the change in designation of Rajaram Narayanan to Whole-time Director, designated as Chief Executive Officer – Animal Health, for the remaining period of his existing tenure, effective December 16.

The board also approved the appointment of Ramakant Singani as Chief Financial Officer, effective January 1, 2026, following the resignation of Saurav Bhala as CFO.

Sequent Scientific was quoting at Rs 212.25, up Rs 1.50, or 0.71 percent.

Shriram Finance board will meet ⁠on December 19 ⁠to discuss a proposal for fundraise via rights issue or qualified institutional placement.

Shriram Finance was quoting at Rs 865.65, up Rs 17.40, or 2.05 percent.

It has touched a 52-week high of Rs 875.40.

It has touched an intraday high of Rs 875.40 and an intraday low of Rs 849.25.

It was trading with volumes of 561,722 shares, compared to its five day average of 152,180 shares, an increase of 269.12 percent.

The company has received an order worth Rs 332.99 crore from IIT Mandi for Project Management Consultancy services, and another order worth Rs 12.05 crore from Kandla SEZ for day-to-day annual maintenance work.

NBCC (India) was quoting at Rs 110.60, down Rs 1.20, or 1.07 percent.

It has touched an intraday high of Rs 113.15 and an intraday low of Rs 110.05.

It was trading with volumes of 446,073 shares, compared to its five day average of 544,806 shares, a decrease of -18.12 percent.

In the previous trading session, the share closed down 3.04 percent or Rs 3.50 at Rs 111.80.

The share touched a 52-week high of Rs 130.60 and a 52-week low of Rs 70.82 on 09 June, 2025 and 03 March, 2025, respectively.

Currently, the stock is trading 15.31 percent below its 52-week high and 56.17 percent above its 52-week low.

Market capitalisation stands at Rs 29,862 crore.

The Buildings & Factories (B&F) business vertical of L&T  has secured an order from Madhya Pradesh State Tourism Development Corporation to construct Advait Lok (Acharya Shankar Museum Complex & Parking) at Omkareshwar in Khandwa district.

Larsen & Toubro was quoting at Rs 4,061, down Rs 1.35, or 0.03 percent.

It has touched an intraday high of Rs 4,081.50 and an intraday low of Rs 4,039.

It was trading with volumes of 6,977 shares, compared to its five day average of 134,867 shares, a decrease of -94.83 percent.

Lupin announced that the Committee for Medicinal Products for Human Use (CHMP) of the European Medicines Agency (EMA) has adopted a positive opinion recommending marketing authorization for its biosimilar ranibizumab, RanluspecTM, for both vial and pre-filled syringe presentations.

Lupin was quoting at Rs 2,115.35, up Rs 25.70, or 1.23 percent.

The company has executed an Investment Agreement, a Shareholders Agreement (SHA), a Music Rights Agreement (MRA), and other transaction-related documents with Bhansali Productions, acquiring 9,960 compulsory convertible preference shares (CCPS) in Bhansali Productions for Rs 325 crore.

The board also approved the terms of conversion of such CCPS and the further acquisition of additional equity securities of Bhansali Productions in multiple tranches.

The company may acquire up to a 51% stake in Bhansali Productions by March 2030.

Saregama India was quoting at Rs 367.10, down Rs 12.15, or 3.20 percent.

Power Grid Corporation of India was quoting at Rs 261.60, up Rs 1.15, or 0.44 percent.

It has touched an intraday high of Rs 262.70 and an intraday low of Rs 259.50.

It was trading with volumes of 133,142 shares, compared to its five day average of 391,584 shares, a decrease of -66.00 percent.

QIB – 0.00 times

NII - 0.10 times

Retail – 0.39 times

Overall – 0.21 times

The Sensex was down 127.69 points or 0.15 percent at 84,552.17, and the Nifty was down 37.80 points or 0.15 percent at 25,822.30. About 1350 shares advanced, 2197 shares declined, and 178 shares unchanged.

Crossing the $65 threshold marks the dawn of a new era for Silver. As Silver prices overtake Crude oil for the first time in 40 years, the market is sending a clear message: the future belongs to the tangible, the critical, and the rare. This incline in Silver has triggered by recent Employment numbers from US which shown that Unemployment rate has risen to 4.6%, which will make Federal Reserve to cut its Interest rate in 2026, making non-yielding assets like Silver more attractive.

In a rare historical event, silver is now trading higher than a barrel of WTI crude oil ($65/oz vs. roughly $56/barrel). This inversion hasn't been seen since the late 1970s and early 1980s, signalling that the "industrial metal" is becoming as strategically important as energy.

Silver is already in its 5th consecutive year of supply-deficit. Adding to that, weakness in Indian Rupee has accelerated prices of Dollar-denominated commodities.

At current price, immediate support would be at 20-DEMA level placed at 182,300. Traders should look forward for Buy-on-dips opportunity if price taking any correction of 3 -5% in upcoming session.

The depreciation of the Rupee over the long term is not an abrupt situation for the gold and jewellery sector. The value of the Rupee moved from 30 per dollar in the early 1990s, progressing past 60 to 90+ in 2013. But the fall from around 60 to over 90 in the last decade is an abrupt turn of events. Since gold is dollar-indexed, the fall of the Rupee increases the landed costs, reduces the profitability, and increases the working capital requirements. This downtick in the peak of holiday season in the international markets comes a mild blow to Indian gems & jewellery exports.

Contrastingly in the domestic market, this is further adding to gold’s role of value for Indian consumers. The Indian exporters will enjoy some kind of advantage due to a fall in the rupee, whereas Indian manufacturers will face increased costs. The current challenge for this industry is efficiency, discipline in hedging, and value-added designs to meet the requirements of a situation in which currency depreciation is not cyclical, but secular.

Both precious metals gold and silver are ‘safe haven’ assets. Both have performed well this year; but silver has outperformed with around 80% return. What sets silver apart is its wide application in industrial uses. In the modern sunrise industries like EVs, solar energy, manufacture of electronic devices mobile phones etc silver is used.

The impressive growth of these industries have pushed up the demand for silver. In the absence of corresponding increase in supply of this scarce metal, price has shot up. There can be some profit booking, but silver prices are likely to remain resilient.

Akzo Nobel India was quoting at Rs 3,162.70, down Rs 461.25, or 12.73 percent.

It has touched an intraday high of Rs 3,276.60 and an intraday low of Rs 3,080.00.

It was trading with volumes of 1,519,658 shares, compared to its five day average of 3,698 shares, an increase of 40,998.50 percent.

Gains in heavyweight stocks helped cushion the Nifty’s downside in an otherwise weak, rangebound session. PSU banks and large financials emerged as key index supporters, with SBI, Bajaj Finance, Shriram Finance and Axis Bank making the largest positive contributions, alongside support from Eicher Motors, Tata Consumer Products and select IT and metal stocks. However, the broader market remained under pressure, limiting any meaningful recovery in the benchmark.

At 11:30 am, the Sensex was down 176.18 points or 0.21 percent at 84,503.68, and the Nifty was down 46.60 points or 0.18 percent at 25,813.50. About 1368 shares advanced, 2114 shares declined, and 187 shares unchanged.

A broad-based recovery from intraday lows was visible across several Nifty 100 stocks, reinforcing the rangebound nature of the session. PSU banks and energy names led the rebound, with ONGC, Canara Bank, PNB, SBI and Bank of Baroda rising 1-2 percent from their day’s troughs, while select FMCG, auto and metal stocks also clawed back losses, indicating buying support emerging at lower levels despite the choppy trade.

Several Nifty 100 stocks eased from their intraday highs as the choppy, rangebound session continued. PSU banks, FMCG heavyweights and select defensives saw mild profit-taking, with stocks such as SBI, Axis Bank, ITC, HUL, Coal India and Tata Consumer Products slipping up to about 0.4 percent from the day’s peak, reflecting a lack of strong follow-through buying at higher levels.

The government will sell up to 38.51 crore equity shares of the bank (equivalent to 2% of the paid-up equity as the base offer size) on December 17–18, with an option to additionally sell 19.25 crore shares (1% stake), through a separate designated window of the BSE and NSE. The floor price has been fixed at Rs 34 per share.

Indian Overseas Bank was quoting at Rs 35.12, down Rs 1.45, or 3.96 percent.

It has touched an intraday high of Rs 36.10 and an intraday low of Rs 35.00.

It was trading with volumes of 737,771 shares, compared to its five day average of 249,181 shares, an increase of 196.08 percent.

In the previous trading session, the share closed down 1.08 percent or Rs 0.40 at Rs 36.57.

The share touched a 52-week high of Rs 55.16 and a 52-week low of Rs 33.01 on 18 December, 2024 and 07 April, 2025, respectively.

Currently, the stock is trading 36.33 percent below its 52-week high and 6.39 percent above its 52-week low.

Market capitalisation stands at Rs 67,629.15 crore.

The company has received an order worth Rs 888.38 crore from Bihar State Tourism Development Corporation. The order involves construction and overall development work of Shri Ram Janmabhoomi Tirtha Kshetra, Ayodhya, at Punauradham, Bihar, on an EPC mode.

Ahluwalia Contracts India was quoting at Rs 984.50, up Rs 30.05, or 3.15 percent.

It has touched an intraday high of Rs 1,021.70 and an intraday low of Rs 977.55.

It was trading with volumes of 60,270 shares, compared to its five day average of 2,730 shares, an increase of 2,107.85 percent.

Royal Orchid Hotels is expanding its footprint in North India with the signing of a new 43-key property, Regenta Place Golden Castle, in Baddi, Himachal Pradesh. Baddi is widely known as Asia's largest pharmaceutical hub.

Royal Orchid Hotels was quoting at Rs 384.35, up Rs 3.60, or 0.95 percent.

The Sensex was down 161.09 points or 0.19 percent at 84,518.77, and the Nifty was down 50.55 points or 0.20 percent at 25,809.55. About 1313 shares advanced, 2112 shares declined, and 175 shares unchanged.

#1 3 building blocks & USD 50 billion in value creation make outlook more bullish for 2026

#2 Quarterly catalysts support sustained re-rating potential

#3 Fourth monetisation cycle underway as all verticals turn FCF positive

#4 Company redeploys capital toward new growth frontiers

#5 Invested over USD 80 billion since covid, expected to bear fruit from 2026

#6 Earnings upgrades & valuation re-rating likely every quarter in 2026

Reliance Industries was quoting at Rs 1,542.50, up Rs 0.70, or 0.05 percent.

Apeejay Surrendra Park Hotels has entered into a share purchase agreement for 100% stake of THALI Hotels and Destinations [including a direct acquisition of 75.39% stake and indirect acquisition of 24.61% stake through acquisition of Fishermans Grove Resorts (FGRPL)], 100% stake of Fishermans Grove Resorts (FGRPL) from its existing shareholders, for acquisition of “Purity”, the lakefront property held by THALI and situated at east of Aryakara, Muhamma - 688525, Kerala along with the luxury houseboat,

“Discovery”.

Apeejay Surrendra Park Hotels was quoting at Rs 137.00, up Rs 4.90, or 3.71 percent.

It has touched an intraday high of Rs 137.40 and an intraday low of Rs 132.10.

It was trading with volumes of 8,927 shares, compared to its five day average of 9,592 shares, a decrease of -6.93 percent.

Aurionpro Solutions announced a significant win to deploy its next-generation cash management platform for one of India's largest

public sector banks. This multi-year deal includes software licensing, implementation, and an extended annual maintenance contract (AMC).

Aurionpro Solutions was quoting at Rs 1,119.45, up Rs 3.15, or 0.28 percent.

It has touched an intraday high of Rs 1,152.90 and an intraday low of Rs 1,102.50.

It was trading with volumes of 4,944 shares, compared to its five day average of 16,721 shares, a decrease of -70.43 percent.

In the previous trading session, the share closed down 1.17 percent or Rs 13.25 at Rs 1,116.30.

The share touched a 52-week high of Rs 1,909.80 and a 52-week low of Rs 1,006.10 on 20 December, 2024 and 09 December, 2025, respectively.

Currently, the stock is trading 41.38 percent below its 52-week high and 11.27 percent above its 52-week low.

Market capitalisation stands at Rs 6,180.88 crore.

Bank Of Baroda was quoting at Rs 285.80, up Rs 2.95, or 1.04 percent.

It has touched an intraday high of Rs 286.35 and an intraday low of Rs 282.30.

It was trading with volumes of 113,100 shares, compared to its five day average of 268,061 shares, a decrease of -57.81 percent.

In the previous trading session, the share closed down 0.77 percent or Rs 2.20 at Rs 282.85.

The share touched a 52-week high of Rs 303.90 and a 52-week low of Rs 190.70 on 02 December, 2025 and 04 March, 2025, respectively.

Currently, the stock is trading 5.96 percent below its 52-week high and 49.87 percent above its 52-week low.

Market capitalisation stands at Rs 147,797.53 crore.

As the rupee slides to 91.075 per dollar, Indian investors should focus on disciplined investing rather than reacting out of fear amid currency weakness and volatile stock markets. A falling rupee often reflects global risk aversion and capital outflows, but it also creates selective opportunities.

Investors should prioritise companies with strong balance sheets, stable cash flows and reasonable valuations. Instead of trying to time the market, systematic investing through SIPs in quality equities and mutual funds can help average costs during volatility.

Allocations to gold should remain a vital part of portfolios—via ETFs or sovereign gold bonds—as a hedge against currency depreciation and global uncertainty.

Export-oriented sectors and businesses earning in USD typically benefit from a weaker rupee. IT services, pharmaceuticals and select engineering exporters often see margin support during currency depreciation.

Domestically, banking and financials, capital goods linked to infrastructure spending, and consumer staples tend to remain relatively resilient. Exposure to import-dependent sectors with high raw material sensitivity should be limited unless valuations already factor in these risks.

Overall, investors should emphasise asset allocation, quality and long-term themes over short-term market noise. Those who remain patient, diversified and selective are better positioned to turn volatility into opportunity.

The board of directors of the company at its meeting held on December 16, 2025 approved the capital expenditure of approximately Rs 4,371 crores to be undertaken through VSL Powerhive, a wholly owned subsidiary of the company, for Phase 1 of its Battery Energy Storage System (BESS) roadmap.

As part of Phase 1, VSL Powerhive will commission a 5 GWh BESS manufacturing facility at Oragadam, Tamil Nadu by FY27.

Further, the company is also advancing backward integration into battery cell manufacturing, establishing a 7.5 GWh cell manufacturing capacity scheduled to be fully operational by FY29, subject to receipt of applicable statutory and regulatory approvals.

Vikram Solar was quoting at Rs 235.35, down Rs 0.05, or 0.02 percent.

QIB – 0.00 times

NII - 0.08 times

Retail – 0.32 times

Overall – 0.18 times

Indian rupee erased opening losses and trading higher by 67 paise at 90.36 per dollar on Wednesday versus previous close of 91.03.

Lupin 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 satisfactory Voluntary Action Indicated (VAI) classification.

The EIR was issued following an inspection of the facility from September 8 to September 16, 2025.

Lupin was quoting at Rs 2,116.90, up Rs 27.25, or 1.30 percent.

It has touched an intraday high of Rs 2,127.40 and an intraday low of Rs 2,090.75.

It was trading with volumes of 6,614 shares, compared to its five day average of 24,629 shares, a decrease of -73.15 percent.