The BSE Sensex closed at 84,666.28, down by 436.41 points or 0.51%. Similarly, the NSE Nifty stood at 25,839.65, falling 120.90 points, which is a 0.47% decline.
The US tariffs on rice news also contributed to market concerns, with tensions in US-India trade negotiations weighing on investor sentiment. Despite global market fluctuations, India’s stock market continues to reflect the effects of these external concerns.
The MidCap index was up by 0.32%, while the SmallCap index showed a notable rise of 1.14%, demonstrating that the broader market wasn’t entirely in the red.
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Impact on the stock market
Sector-wise performance
Several sectors took a hit today, with the Nifty IT, Auto, and Pharma sectors down nearly 1% each. Additionally, PSU Bank, FMCG, Media, Consumer Durables, and Chemicals also traded lower, reflecting the overall weak sentiment in the market.
| Sector/Index | Performance |
| IT & BPM sector | -1.19% |
| Healthcare sector | -0.47% |
| Oil & Gas sector | -0.17% |
| Real estate sector | 0.95% |
| PSU Bank in India | 1.29% |
Top gainers today
| Company | Share Price (in ₹) | Change % |
| Eternal | 291.70 | 2.26% |
| Titan Company | 3,849.00 | 2.28% |
| Shriram Finance | 846.70 | 1.49% |
| Adani Enterprise | 2,245.20 | 1.31% |
| Adani Ports | 1,497.20 | 1.13% |
Top losers today
| Company | Share Price (in ₹) | Change % |
| Asian Paints | 2,796.00 | -4.52% |
| Tech Mahindra | 1,561.60 | -1.90% |
| HCL Tech | 1,657.60 | -1.84% |
| Tata Steel | 160.67 | -1.71% |
| Dr Reddys Labs | 1,246.20 | -1.60% |
Market aftermath: Impact on stocks
PhysicsWallah: Surging after strong Q2 results
Shares of PhysicsWallah jumped over 5% after the company reported a 70% year-on-year increase in its Q2 net profit, reaching Rs 70 crore. The stock hit a day’s high of Rs 145.60, showing a strong rally as the company’s revenue from operations grew 26% YoY, reaching Rs 1,051.2 crore. PhysicsWallah has been showing strong user engagement with 3.5 million daily average users and an average engagement time of 103 minutes per user.
After listing in November at a 33% premium over its IPO price, the stock is now trading about 34% higher than its IPO price of Rs 109. This marks a solid debut for the company, and investors seem to have confidence in its growth trajectory, especially with the educational tech sector thriving.
Kaynes Technology: Rebounds after a rough week
Shares of Kaynes Technology India rose sharply by 10% today, snapping a four-day losing streak. This rebound comes after the stock had declined by nearly 30% in the past week, triggering concerns about the company’s future prospects. However, investors seemed to react positively to new brokerage reports, particularly from Macquarie, which set a target price of Rs 7,700, suggesting an 102% upside from the current market price. Despite this, Kaynes shares have struggled in 2025, having fallen by 45% year-to-date.
Key issues for Kaynes Tech stemmed from a disclosure lapse regarding inter-company transactions, which came to light after a report from Kotak Institutional Equities. Despite this, the company has taken steps to rectify the error, adding clarity to its operations. Investors are hopeful that the company will manage to regain confidence, but it remains to be seen whether this rebound is sustainable.
ICICI Bank: Struggling amid strategic moves
ICICI Bank shares were down by 0.53% today after the lender announced plans to acquire an additional 2% stake in its affiliate, ICICI Prudential Asset Management Company (ICICI AMC). The move is part of ICICI Bank’s strategy to maintain majority control over the AMC ahead of its upcoming Rs 10,600 crore IPO. While the acquisition is expected to strengthen ICICI Bank’s grip on ICICI AMC, market reactions were somewhat muted as the stock traded at Rs 1,382.30. The transaction is scheduled to complete before December 10.
Crude oil
Crude oil prices saw a modest decline today, reflecting concerns over ongoing geopolitical tensions and oil supply. At 9:57 AM, Brent Crude oil futures were trading at $62.38, down by 0.18%, while WTI Crude oil futures fell by 0.24%, reaching $58.74. In India, December crude oil futures on the Multi Commodity Exchange (MCX) were down by 0.54%, trading at ₹5305. The geopolitical situation involving Russia and Ukraine is still an area of concern, with peace talks offering a glimmer of hope for reducing some of the volatility in the oil markets. Despite the decline in oil prices today, analysts remain cautious, citing concerns over the limited supply from Russia and global production surpluses.
Conclusion
Today’s market performance reflects the ongoing challenges investors face, particularly with profit booking, sectorial downturns, and geopolitical uncertainties. Despite the challenges, companies like SpiceJet and Kaynes Technology showed resilience, while ICICI Bank’s slight dip due to its stake acquisition signals some uncertainty in the broader financial sector.
The market is navigating a complex landscape where geopolitical tensions, regulatory changes, and operational challenges are at play. Investors need to stay vigilant and continue to evaluate stocks based on both short-term performance and long-term potential. While today’s results were mixed, the broader sentiment remains cautious as we head into the final stretch of the year.
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