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No surprises — Nifty came under heavy profit booking on weekly expiry, as participants chose to book gains after the recent run-up.

Benchmark Indices

NIFTY (-144, 26032)
SENSEX (-504, 85138)
BANK NIFTY (-408, 59274)

Blame the massive profit booking on:

1) Rupee Weakness Deepens. The Indian rupee hit a fresh lifetime low of 89.92 per USD. The decline was driven by persistent dollar demand from corporates, importers, and foreign portfolio investors

2) Persistent FII Selling:

a) FIIs sold ₹3,795.72 crore worth of equities in Monday’s session.
b) In the past week, total FII selling stood at ₹6,443 crore.
c) For November 2025 alone, FIIs have offloaded close to ₹17,500 crore.
d) Year-to-date (YTD), cumulative FII net selling now stands at a substantial ₹1,32,469 crore.

3) Weak Global Cues:

4) Pressure on Banking Stocks: The Nifty Private Bank index fell up to 0.4% as key constituents like HDFC Bank and ICICI Bank reacted to index weight recalibration.

Context: Please note, SEBI has directed NSE to reduce concentration risk in index-heavy futures baskets like Nifty Bank. Under the new structure, the top three stocks will be capped at 19%, 14% and 10% respectively — triggering portfolio rebalancing-led selling.

Long Story short: Overbought conditions + no new triggers = bears back in action.

Adv-Dec 13—37

INDIA VIX 11.22 (-3.53%)

NIFTY PCR (09th DEC) 0.73

NIFTY PCR (30th DEC) 1.16

USD/INR Futures (DEC) (+0.45%, 90.08)

SECTOR GAINERS:

NIFTY PHARMA (+0.08%)

SECTORS LOSERS

NIFTY FINANCIAL SERVICES (-0.78%)
NIFTY PVT BANKS (-0.69%)
NIFTY CONSUMER DURABLES (-0.44%)

TODAY’S MARKET RE-CAP:

1) Nifty (-0.55%) plunged in a volatile trade after it scaled fresh record highs in yesterday’s trade. Overbought technical conditions too blamed.

Nifty is still above its 21 DMA (25916), 50 DMA (25583) and its 100 DMA (25235). Nifty’s 200 DMA at 24604 mark.

2) Bank Nifty (-0.68%) to fell for the 2nd straight day and moist importantly, mirriroed Nifty’s weaknsess.

Bank Nifty’s all-time-high continue to be at 60,114.05 mark.

3) The market breadth (12:38) was in favour of the Bears.

4) Nifty Mid-cap (-0.17%) and Nifty Small-cap (-0.55%) were seen in consolidative mode.

5) Meanwhile, New Records Highs as on Tuesday, December 2nd 2025:

Nifty: 26,325.80
Sensex: 86,159.02
Bank Nifty: 60,114.05

STOCKS IN SPOTLIGHT:

1) Vodafone Idea climbs 2.11% on AGR relief optimism
Vodafone Idea shares rallied after Union Minister Jyotiraditya Scindia indicated that the government may finalise its AGR relief framework by end-2025.

The stock has seen a sharp turnaround—rising over 81% in three months from its 52-week low of ₹6.12 in August to a recent high of ₹11.08 in November.

2) SPARC hits upper circuit on favourable U.S. court ruling: Sun Pharma Advanced Research Company surged 20% to ₹161.10 after a U.S. District Court granted a favourable summary judgment related to its Sezaby Priority Review Voucher (PRV), boosting investor sentiment.

3) Reliance Industries slips on legal setback: Reliance Industries fell 1.12% after reports indicated that the Supreme Court dismissed its appeal against the Securities Appellate Tribunal’s ruling. The SAT had earlier upheld a ₹30 lakh penalty imposed for non-disclosure regarding the Jio–Facebook agreement, as reported by Bar & Bench. (Source: Business standard)

BULLS OF THE DAY:

ASIANPAINTS (+3.15%)
DRREDDY (+1.30%)
MARUTI (+0.92%)
BHARTIARTL (+0.87%)
SBILIFE (+0.68%)

BEARS OF THE DAY:

INDIGO (-1.62%)
ICICIBANK (-1.17%)
RELIANCE (-1.14%)
HDFCBANK (-1.07%)
AXISBANK (-1.05%)

OUR VIEW FOR WEDNESDAY’S TRADE

Technically speaking, confirmation of major strength only above Nifty’s all-time high at 26326. Immediate hurdle at 26200.

All eyes on this week’s RBI MPC Outcome on Friday, December 5th.

ALL ABOUT NIFTY:
Nifty (CMP: 26032)
Support: 25850/25700
Resistance: 26200/26350
Range: 25899-26176
21 DMA: 25915
50 DMA: 25583
200 DMA: 24604
Trend: Neutral

BULLISH LOOKING STOCKS:

ASHOKLEY

IEX

BIOCON

BULLISH LOOKING STOCKS (LONG TERM):

CHOLAFIN

BELRISE

DREDGING

BEARISH LOOKING STOCKS:

INDIANB

ADANIENT

HDFCAMC

STOCKS TO AVOID:

INDIGO

RECLTD

RELIANCE

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