Indices remain under pressure in late morning deals

Domestic equity indices remained under pressure and were trading lower with cut of over half percent in late morning deals on account of selling by funds and retails investors. Meanwhile, broader indices were also trading in red with BSE Small cap index and BSE Mid cap index falling in the range of 0.40-1.10%. Traders were cautious after geopolitical trade tensions rose due to US administration’s comments of additional tariffs on European countries. Further, a mixed set of earnings from heavyweight companies, Reliance Industries and ICICI Bank, also weighed on markets sentiment.  Besides, depreciation in Indian rupee against dollar also weighed down sentiments. Rupee weakened by 12 paise to 90.91 against the dollar at the Inter-bank Foreign Exchange market on account of increased demand for the American currency from importers and banks.

On the global front, Asian markets were trading mixed following the negative cues from US markets on Friday, amid ambiguity over the outlook for interest rates after some uncertainty about US President Donald Trump's pick for US Fed chair. Back home, on the BSE sectoral front, traders were seen piling up positions in Capital Goods, Metal, FMCG and Consumer Durables, while selling was witnessed in Realty, Energy, Oil & Gas, Telecom and Healthcare. 

The BSE Sensex is currently trading at 82995.43, down by 574.92 points or 0.69% after trading in a range of 82898.31 and 83539.93. There were 16 stocks advancing against 14 stocks declining on the index.

The broader indices were trading in red; the BSE Mid cap index was down by 0.42%, while Small cap index down by 1.06%.

The top gaining sectoral indices on the BSE were Capital Goods up by 0.17%, Metal up by 0.14%, FMCG up by 0.06% and Consumer Durables up by 0.02%, while Realty down by 1.83%, Energy down by 1.59%, Oil & Gas down by 1.37%, Telecom down by 1.06% and Healthcare down by 0.70% were the top losing indices on BSE.

The top gainers on the Sensex were Interglobe Aviation up by 3.61%, Tech Mahindra up by 3.27%, Bajaj Finance up by 1.89%, Maruti Suzuki up by 1.47% and Hindustan Unilever up by 1.30%. On the flip side, Reliance Industries down by 3.35%, ICICI Bank down by 2.94%, Eternal down by 2.16%, TCS down by 1.27% and Adani Ports down by 1.13% were the top losers.

Meanwhile, the commerce ministry in its data has showed that amid global economic uncertainty, Brazil and Nigeria are emerging as major export destinations for Indian pharmaceutical firms. Nigeria has become one of the fastest-growing export destinations, adding $179 million in exports and contributing over 14 per cent to the total export growth during the first eight months of this fiscal year.

Moreover, the data showed during April-November FY26, Brazil also recorded an increase of nearly $100 million exports. These markets show increasing healthcare access, expanding public procurement, and growing reliance on Indian generics, reinforcing India's role as a preferred supplier to high growth demand intensive regions. The country's pharmaceutical exports rose by 6.5 per cent to $20.48 billion during April-November 2025-26.

Further, the data showed that the US continues to be the single largest destination, accounting for over 31 per cent of exports in April-November 2025, while the overall growth profile highlights a broadening of demand across multiple geographies, strengthening the stability of India's pharma export basket. Alongside the US, countries such as France, the Netherlands, Canada, Germany, and South Africa recorded steady growth, collectively supporting export expansion while maintaining stable shares.

The CNX Nifty is currently trading at 25521.90, down by 172.45 points or 0.67% after trading in a range of 25494.35 and 25653.30. There were 21 stocks advancing against 29 stocks declining on the index.

The top gainers on Nifty were Interglobe Aviation up by 3.53%, Tech Mahindra up by 3.22%, Bajaj Finance up by 1.92%, Hindustan Unilever up by 1.30% and Kotak Mahindra Bank up by 1.20%. On the flip side, Wipro down by 7.09%, Reliance Industries down by 3.30%, Tata MotorsPassenger down by 2.86%, ICICI Bank down by 2.82% and Eternal down by 2.36% were the top losers.

Asian markets were trading mixed; Taiwan Weighted added 244.16 points or 0.77% to 31,652.86, Jakarta Composite gained 24.29 points or 0.27% to 9,099.70, Shanghai Composite strengthened 3.8 points or 0.09% to 4,105.71 and KOSPI increased 68.02 points or 1.41% to 4,908.76. However, Hang Seng declined 271.96 points or 1.01% to 26,573.00, Straits Times fell 24.88 points or 0.51% to 4,824.22 and Nikkei 225 slipped 417.17 points or 0.77% to 53,519.00.