Indices remain flat in late morning deals

Domestic equity markets remained flat in late morning deals on the weekly expiry day of Nifty index derivatives. Market participants remained cautious amid expectations of subdued trading volumes during the holiday-shortened week. Traders avoided to take new positions in markets as lack of fresh catalysts ahead of the year-end. IT industry related stocks were under pressure on account of profit booking after two days of a sharp rally. In the stock specific development, Ambuja Cements rose following the company's board approving two separate Schemes of Amalgamation to merge ACC and Orient Cement with itself, creating a single consolidated 'One Cement Platform'.

On the global front, Asian markets were trading mostly in green following positive cues from the US markets overnight. Back home, on the BSE sectoral front, traders were seen piling up positions in PSU, Basic Materials, Utilities, Metal and Power, while selling was witnessed in IT, TECK, Consumer Durables, Healthcare and Realty. 

The BSE Sensex is currently trading at 85573.95, up by 6.47 points or 0.01% after trading in a range of 85342.99 and 85704.93. There were 16 stocks advancing against 14 stocks declining on the index.

The broader indices were trading in green; the BSE Mid cap index was up by 0.01%, while Small cap index up by 0.30%.

The top gaining sectoral indices on the BSE were PSU up by 0.76%, Basic Materials up by 0.73%, Utilities up by 0.70%, Metal up by 0.68% and Power up by 0.54%, while IT down by 0.68%, TECK down by 0.67%, Consumer Durables down by 0.13%, Healthcare down by 0.12% and Realty down by 0.10% were the top losing indices on BSE.

The top gainers on the Sensex were Ultratech Cement up by 1.46%, Power Grid up by 1.23%, NTPC up by 1.14%, Kotak Mahindra Bank up by 0.73% and Tata Steel up by 0.68%. On the flip side, Infosys down by 1.11%, Bharti Airtel down by 0.80%, Asian Paints down by 0.68%, ICICI Bank down by 0.51% and TCS down by 0.50% were the top losers.

Meanwhile, while the economy is susceptible to external sector headwinds, RBI Bulletin has pointed out that coordinated fiscal, monetary and regulatory policies have helped build resilience in the economy. Further, on the backdrop of dynamic global environment, continued focus on macroeconomic fundamentals and economic reforms are expected to boost efficiencies and productivity gains to firmly keep the economy on the high-growth trajectory. The bulletin pointed that an unprecedented shift in global trade policies has taken place in 2025, with countries moving towards bilateral renegotiations on tariffs and terms of trade, and its ripple effects on global trade flows and supply chains are still unfolding, leading to high global uncertainties and concerns about the prospects for global growth.

The Bulletin highlighted that the Indian economy grew at its fastest pace in the last six quarters, aided by resilient domestic demand in Q2:2025-26. It added that high-frequency indicators for the month of November indicated that overall economic activity has sustained supported by robust demand. Besides, headline CPI inflation edged up but continued to remain below the lower tolerance level. It noted that financial conditions remained benign, and the flow of financial resources to the commercial sector remained robust.

Moreover, lower merchandise trade deficit, robust services exports, and strong remittance receipts have helped country to moderated its current account deficit in Q2:2025-26 against same period last year. It noted that the foreign direct investment remained higher during April-October 2025 as compared to same period last year. On the softening rupee, it pointed that the strengthening of the US dollar, muted foreign portfolio flows, and uncertainty surrounding the India-US trade deal have weighed on Indian rupee.

The CNX Nifty is currently trading at 26194.60, up by 22.20 points or 0.08% after trading in a range of 26119.05 and 26206.55. There were 32 stocks advancing against 18 stocks declining on the index.

The top gainers on Nifty were Coal India up by 3.37%, Ultratech Cement up by 1.58%, Tata MotorsPassenger up by 1.42%, Shriram Finance up by 1.32% and Power Grid up by 1.17%. On the flip side, Infosys down by 1.12%, Bharti Airtel down by 0.83%, Asian Paints down by 0.66%, ICICI Bank down by 0.53% and TCS down by 0.52% were the top losers.

Asian markets were trading mostly in green; Nikkei 225 surged 7.61 points or 0.02% to 50,410.00, Taiwan Weighted added 159.92 points or 0.56% to 28,309.56, Shanghai Composite strengthened 9.81 points or 0.25% to 3,927.17, KOSPI increased 11.23 points or 0.27% to 4,117.16, Hang Seng advanced 39.23 points or 0.15% to 25,841.00 and Straits Times rose 23.69 points or 0.51% to 4,633.98. However, Jakarta Composite plunged 31.65 points or 0.37% to 8,614.19.