Bourses trade at day’s low levels in early afternoon session

Indian markets extended their losses in early afternoon session. Markets traded at day’s low levels amid concerns over foreign capital outflow and geopolitical tensions. Besides, investors were worried as US Supreme Court is expected to issue its order on Trump's ‘Liberation Day’ tariffs due later in a day. Traders took note of United Nations Department of Economic and Social Affairs' (UNDESA) report stating that India is expected to grow by 7.2% in the financial year 2025-26, with consumption and public investment expected to ‘largely offset’ the impact of the tariffs by the United States. This 7.2% estimate, presented in the UNDESA’s World Economic Situation and Prospects 2026 report, is slightly slower than the 7.4% growth predicted by the Indian government in its First Advance Estimates of GDP for 2025-26.

On the global front, Asian markets were trading mostly in green as Japan's leading index improved further in November to the highest level in one-and-a-half years. The leading index, which measures future economic activity, rose to 110.5 in November from 109.8 in October. Moreover, this was the highest reading since May 2024, when the reading was 111.1.

The BSE Sensex is currently trading at 83715.30, down by 465.66 points or 0.55% after trading in a range of 83702.92 and 84406.22. There were 10 stocks advancing against 20 stocks declining on the index.

The broader indices were trading in red; the BSE Mid cap index declined 0.37%, while Small cap index was down by 0.93%.

The top gaining sectoral indices on the BSE were Oil & Gas up by 0.51%, PSU up by 0.30%, Energy up by 0.16%, IT up by 0.14% and Metal was up by 0.13%, while Realty down by 2.06%, Power down by 1.12%, Utilities down by 0.84%, FMCG down by 0.77% and Auto was down by 0.65% were the top losing indices on BSE.

The top gainers on the Sensex were Asian Paints up by 2.13%, Eternal up by 1.76%, Bharat Electronics up by 0.97%, HCL Tech up by 0.84% and SBI up by 0.69%. On the flip side, ICICI Bank down by 2.01%, Adani Ports down by 1.66%, Maruti Suzuki down by 1.22%, Axis Bank down by 1.18% and ITC down by 1.14% were the top losers.

Meanwhile, a report released by rating agency Crisil ratings has showed that the first nine months of financial year 2025-26 (9MFY26) saw a continued steady momentum in securitisation volumes aided by sustained originations by non-banking financial companies (NBFCs). During the period, securitisation volumes grew by 5% to around Rs 1.87 lakh crore from around Rs 1.78 lakh crore in the same period last fiscal. In third quarter of financial year 2025-26 (Q3FY26), the volumes stood at Rs 63,000 crore, which was broadly in line with issuances seen in the corresponding quarter of fiscal 2025. In Q3FY26, banks contributed meaningfully than that of same quarter of last fiscal. Last year contribution of banks was negligible, however, it was offset by the increased activity from NBFCs.

During Q3FY26, originations by NBFCs surged 35% on year-on-year (YoY) basis fuelled by strong volumes in both gold and vehicle loan pools. This has resulted in a shift in the originator mix this quarter with NBFCs accounting for around 97% of the overall retail volumes, as compared to around 71% for the corresponding period last year. Besides, the market also witnessed a broadening of the originator base. In 9MFY26, total number of originators was around 200 as compared to about 150 in the corresponding period last fiscal, mostly NBFCs. Meanwhile, the report noted that the new co-lending guidelines have increased operational complexities, it has prompted some originators to shift away from co-lending transactions. This trend is likely to drive a sustained growth in Direct Assignment volumes over the near to medium term.

The report highlighted that among retail asset classes, gold loan securitisation experienced a significant uptick in volumes rising to 12% of the market volume over the nine-month period, a substantial increase from just 1% during the same period last year. During the 9MFY26, NBFC originated vehicle pools grew around 14% YoY, while share of mortgage-backed securitisation declined to around 17% from 23% same period last year. Going forward, Crisil expects volumes to remain steady in fiscal 2026 as NBFCs continue to raise funds via securitisation route. Furthermore, with the credit-deposit ratio showing a marginal increase for most banks, it expects some increase in bank-led originations in the market.

The CNX Nifty is currently trading at 25731.10, down by 145.75 points or 0.56% after trading in a range of 25730.45 and 25940.60. There were 15 stocks advancing against 35 stocks declining on the index.

The top gainers on Nifty were Asian Paints up by 2.14%, Eternal up by 1.78%, ONGC up by 1.12%, JSW Steel up by 1.01% and Bharat Electronics up by 0.97%. On the flip side, ICICI Bank down by 2.04%, Adani Enterprises down by 2.01%, Max Healthcare Inst down by 1.85%, Adani Ports down by 1.67% and Maruti Suzuki down by 1.37% were the top losers.

Asian markets were trading mostly in green; Nikkei 225 surged 847.74 points or 1.63% to 51,965.00, Hang Seng advanced 75.69 points or 0.29% to 26,225.00, Shanghai Composite strengthened 37.36 points or 0.92% to 4,120.34, Jakarta Composite gained 34.76 points or 0.39% to 8,960.23, KOSPI increased 33.95 points or 0.74% to 4,586.32 and Straits Times was up by 3.4 points or 0.07% to 4,742.47. On the flip side, Taiwan Weighted was down by 71.59 points or 0.24% to 30,288.96.