The Sensex stood at 84,679.86, down by 533.50 points or 0.63%, while the Nifty50 closed at 25,860.10, down by 167.20 points or 0.64%.
The global market mood was the key factor behind the decline, as investors digested concerns over inflation, interest rates, and geopolitical developments.
The broader market mirrored this trend with the Nifty MidCap 100 index down by 0.83% and the SmallCap index seeing a decline of 0.92%.
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Impact on the stock market
Sector-wise performance
Sector-wise, Nifty Realty and Nifty Private Bank suffered significant losses, both down by more than 1%. Additionally, PSU Bank and Nifty IT declined by 0.89% and 0.84%, respectively. On a more positive note, Nifty Consumer Durables and Nifty Media were the only sectors to see some gains, but these were relatively minor.
| Sector/Index | Performance |
| IT & BPM sector | -0.84% |
| Healthcare sector | -0.58% |
| Oil & Gas sector | -0.77% |
| Real estate sector | -1.29% |
| PSU Bank in India | -0.89% |
Top gainers today
| Company | Share Price (in ₹) | Change % |
| Titan Company | 3,929.50 | 1.64 |
| Bharti Airtel | 2,102.00 | 1.56 |
| TATA Cons. Prod | 1,169.90 | 1.08 |
| Bajaj Auto | 9,008.00 | 0.76 |
| Asian Paints | 2,790.90 | 0.38 |
Top losers today
| Company | Share Price (in ₹) | Change % |
| Axis Bank | 1,219.60 | -5.07 |
| Eternal | 284.45 | -4.69 |
| JSW Steel | 1,082.60 | -2.89 |
| HCL Tech | 1,651.70 | -1.92 |
| Tata Steel | 169.83 | -1.76 |
Market aftermath: Impact on stocks
DMart (Avenue Supermarts): shares jump by 2.5%
DMart, the hypermarket chain, saw its shares jump by 2.5%, trading at Rs 3,913 per share after global brokerage firm CLSA reiterated its “high conviction outperform” rating on the stock. CLSA believes that the company has a deeply moated business model, with a strong consumption outlook in India, seeing up to 61% upside. The brokerage has set a target price of Rs 6,300 for the stock.
Avenue Supermarts has seen its revenue rise by 15.43% year-on-year in Q2 FY25, reaching Rs 16,218.79 crore. With 432 stores across multiple regions, DMart is now focusing on store expansions and improving cash flow, and CLSA predicts that the revenue growth will continue at 15-20% CAGR till FY28.
Vedanta: A Positive Step for Shareholders
Vedanta’s shares rose by up to 3.5% following the approval of its demerger plan by the National Company Law Tribunal (NCLT). The demerger involves splitting the company into several entities, including Vedanta Aluminium and Vedanta Oil & Gas. The goal is to streamline operations, improve management focus, and unlock shareholder value. As of now, Vedanta shares are trading at Rs 560, up by 2% on December 16.
This restructuring plan is expected to help the company unlock value and improve its focus on key sectors. Vedanta’s stock has already gained 27% in 2025, outperforming the Nifty Metal index, which has risen 21% during the same period.
Meesho: A Meteoric Rise Post-IPO
Meesho’s stock has surged 74% from its IPO price in just five trading sessions. The e-commerce platform saw a major market debut on December 10, listing at Rs 162.50, a 46% premium to its IPO price. By December 16, Meesho’s stock was trading at Rs 193.44, reflecting a market cap of Rs 87,000 crore, up by Rs 14,000 crore since its debut.
The CEO, Vidit Aatrey, became a billionaire as the stock price soared, with his stake valued at over Rs 9,140 crore. The company’s positive cash flow outlook and its status as the only “pure-play value e-commerce” stock in India have made it an attractive investment, according to analysts.
Crude oil: A Shifting Dynamic
India is tightening its checks on Russian crude oil imports, with officials expecting the daily imports to drop to 800,000 barrels this month from around 1.9 million barrels a day in November. Increased scrutiny at ports and banks, alongside regulatory measures, are in place to ensure compliance with Western sanctions. The crackdown comes amid ongoing trade tensions with the US and a bid to comply with global restrictions.
Despite these measures, India continues to import non-sanctioned Russian crude, though refiners are now looking for workarounds to circumvent sanctions. This shift in imports could have long-term effects on India’s energy supply chain, though crude prices remain under close watch globally.
Conclusion
While the Indian equity markets took a hit today, driven by weak global cues and losses in key sectors, individual stocks like DMart, Vedanta, and Meesho made strong gains, showing the diverse nature of market activity. Additionally, developments in the crude oil sector hint at a tighter global energy market, with India adjusting to the new geopolitical realities. For investors, it’s clear that despite broader market declines, there are still pockets of opportunity. The key will be staying informed and agile in navigating the market’s ups and downs.
For more stock market insights, check out the StockGro blog.
