Nifty, Sensex Fall for 4th Consecutive Day as Reliance, Airtel Drag

Market Update at 04:00 PM: Indian equity benchmarks ended lower for the fourth straight session on Monday, December 29, as thin year-end participation and continued foreign fund outflows kept investor sentiment cautious. The absence of near-term domestic or global triggers resulted in range-bound trading, keeping risk appetite subdued across the market.

At the close, the Nifty 50 declined 100.20 points, or 0.38 per cent, to 25,942.10, while the Sensex slipped 345.91 points, or 0.41 per cent, to settle at 84,695.54. Both indices had touched record highs in November after a gap of 14 months but have remained under pressure in December. So far this month, the Nifty has fallen around 1.46 per cent, while the Sensex is down nearly 1.71 per cent.

Trading activity remained muted as the year-end approaches. The 20-day average daily trading volume of Nifty 50 stocks in December stood at 250 million shares, compared with 300 million shares in November. With only a handful of trading sessions left in the year and no immediate catalysts in sight, the market appears to be entering a phase of short-term exhaustion.

Among individual stocks, Hindustan Copper gained 2.49 per cent, hitting a fresh high and taking its market capitalisation beyond Rs 50,000 crore. The stock has doubled in 2025, supported by strong global copper prices and ongoing supply constraints.

Sectoral performance was mixed, with only 3 of the 11 sectoral indices closing in positive territory. Nifty Media emerged as the top-performing sector, rising 0.93 per cent, while Nifty FMCG edged up 0.11 per cent. In contrast, Nifty IT declined 0.75 per cent, extending its losing streak to the fourth consecutive session.

Broader markets mirrored the weakness in the frontline indices. The Nifty Midcap 100 index ended lower by 0.52 per cent, while the Nifty Smallcap 100 slipped 0.72 per cent, indicating broad-based selling pressure.

On the Nifty 50, Tata Steel contributed the most to index gains, adding 5.77 points, followed by Asian Paints at 2.83 points and Tata Consumer Products at 2.67 points. On the downside, Reliance Industries was the biggest drag, pulling the index down by 18.56 points. Bharti Airtel weighed on the index by 14.35 points, while ICICI Bank shaved off 10.64 points.

Market breadth on the NSE remained firmly negative. Of the 3,294 stocks traded, 1,022 advanced, 2,188 declined, and 84 remained unchanged. A total of 76 stocks touched their 52-week highs, while 130 stocks hit their 52-week lows. During the session, 55 stocks were locked in Upper Circuits, whereas 88 stocks were locked in Lower Circuits.

Market Update at 12:28 PM: Indian equity benchmarks extended their losses in midday trade as selling pressure in financial services and information technology stocks weighed on sentiment. Heavyweights Reliance Industries and Bharti Airtel emerged as the biggest drags on the NSE Nifty 50, keeping the benchmarks in the red.

As of 12:00 PM, the BSE Sensex was trading 250 points, or 0.29 per cent, lower at 84,791.42. The NSE Nifty 50 declined 62.95 points, or 0.24 per cent, to 25,979.35.

Within the Nifty 50 pack, Tata Steel, Eternal, and Oil and Natural Gas Corporation were the Top Gainers, supported by strength in metal and energy stocks. On the other hand, Larsen & Toubro, Tata Consumer Products, and Sun Pharmaceutical Industries were among the worst performers, reflecting weakness in capital goods and defensive names.

Sectorally, the NSE Nifty Metal index touched a fresh high and emerged as the best-performing sector of the day. The NSE Nifty Chemicals and the NSE Nifty Oil and Gas indices also traded higher. In contrast, the NSE Nifty Realty and NSE Nifty Financials indices declined the most, dragging the broader market.

The broader markets underperformed the frontline indices. The NSE Nifty Midcap 150 was down 0.10 per cent, while the NSE Nifty Smallcap 150 slipped 0.22 per cent as of 10:58 AM, indicating cautious investor sentiment beyond Large-Cap stocks.

In the commodities space, silver surged to a new peak above USD 80 an ounce before witnessing profit booking and falling over 2 per cent, highlighting increased volatility in precious metals.

Market Update at 09:34 AM: Indian equity indices opened flat with a mild positive bias on Monday as subdued domestic and global cues kept investor sentiment cautious. Buying interest in metal and information technology stocks provided limited support in early trade.

As of 9:20 AM, the Nifty was trading at 26,048.00, up 5.70 points or 0.02 per cent, while the Sensex stood at 85,071.39, higher by 29.94 points or 0.04 per cent.

On the Sensex, Tata Steel, TMPV, BEL, Eternal, Kotak Bank, Infosys and NTPC were among the top gainers, rising up to 1.12 per cent. On the other hand, Adani Ports, Bajaj Finserv, Axis Bank, RIL and HCLTech were the key laggards in early trade.

In the broader market, performance was mixed. The Nifty Midcap index edged up 0.07 per cent, while the Nifty Smallcap index slipped 0.17 per cent, reflecting selective buying beyond frontline stocks.

On the domestic macro front, market participants are awaiting the release of industrial production data for November, which could offer cues on the pace of economic activity.

In commodities, silver touched a fresh peak, briefly crossing the USD 80 per ounce mark, before retreating by over 2 per cent, indicating heightened volatility in precious metals.

Pre-Market Update at 7:45 AM: Indian equity benchmarks Sensex and Nifty 50 are expected to open on a muted note on Monday, December 29, despite broadly supportive global cues. Early indicators point to limited upside as investors remain cautious amid year-end thin trading volumes and persistent foreign fund outflows.

The GIFT Nifty was trading around the 26,102 level, indicating a premium of about 28 points over the Nifty 50’s previous close. Asian markets were mixed in early trade, with Japan’s Nikkei 225 declining by nearly 300 points, reflecting cautious sentiment across the region.

On Friday, December 26, Foreign Institutional Investors (FIIs) continued their selling streak, selling equities worth Rs 317.56 crore. This marked the fourth consecutive session of net FII outflows. In contrast, Domestic Institutional Investors (DIIs) remained supportive of the markets, buying equities worth Rs 1,772.56 crore and extending their net buying streak to 45 consecutive sessions.

Indian equity markets ended lower on Friday amid subdued year-end activity and cautious sentiment. The Nifty 50 declined 99.8 points, or 0.38 per cent, to close at 26,042.30, while the Sensex fell 367.25 points, or 0.43 per cent, to 85,041.45. Both indices have stayed subdued through December after hitting record highs in November, weighed down by a weaker rupee, persistent FII selling, firm crude oil prices and profit booking near peak levels, signalling short-term market fatigue.

Sectorally, only two indices closed in positive territory. Nifty Metal was the top gainer, rising 0.59 per cent for the seventh straight session, while FMCG stocks edged up marginally. Nifty IT was the worst performer, slipping 1.03 per cent. Broader markets also ended lower, with the Nifty Midcap 100 declining 0.23 per cent and the Nifty Smallcap 100 falling 0.08 per cent.

US equities were largely flat on Friday amid thin post-Christmas trading, but still ended the holiday-shortened week on a positive note. The Dow Jones Industrial Average slipped 20.19 points, or 0.04 per cent, to 48,710.97, the S&P 500 eased 2.11 points, or 0.03 per cent, to 6,929.94, and the Nasdaq Composite declined 20.21 points, or 0.09 per cent, to 23,593.10. Despite the muted session, US markets are set to wrap up a strong year, with the S&P 500 up nearly 18 per cent and the Nasdaq gaining over 20 per cent so far in 2025. No major economic data or earnings announcements are expected in the final trading days of the year.

Crude oil prices edged higher during early Asian hours on Monday as investors assessed rising geopolitical tensions in the Middle East, which could threaten supply. Uncertainty surrounding Russia–Ukraine peace negotiations also remains a key overhang for the oil market.

Silver prices extended their rally, surging past the USD 80-per-ounce mark on Monday to hit a record high. The move has been driven by tight supply conditions, strong industrial demand and expectations of additional interest-rate cuts by the US Federal Reserve. Gold prices also remained firm, supported by geopolitical risks and a weaker US dollar.

The Indian rupee weakened further, slipping 19 paise to close at 89.90 against the US dollar on Friday, pressured by weakness in domestic equities and continued foreign capital outflows.

For today, Sammaan Capital will remain on the F&O ban list.

Disclaimer: The article is for informational purposes only and not investment advice.