The BSE Sensex closed at 85,041.45, slipping 367.25 points or 0.43%. The NSE Nifty 50 also ended in the red, down 99.80 points or 0.38% at 26,042.30.
The Nifty Midcap 100 index ended 0.23% lower
The Nifty SmallCap 100 slipped 0.08%
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Impact on the stock market
Sector-wise performance
sectoral point of view, technology stocks took the biggest hit. Nifty IT was the top losing sector, falling 1.03%, as investors continued to book profits after recent rallies and remained cautious about global demand trends.
The auto sector also came under pressure, with Nifty Auto down 0.52%, reflecting selective selling in auto and auto-finance names.
In contrast, Nifty Metal stood out as the strongest performer, rising 0.59%, supported by firm global metal prices and positive sentiment around infrastructure and industrial demand.
| Sector/Index | Performance |
| IT & BPM sector | -1.03% |
| Healthcare sector | -0.32% |
| Oil & Gas sector | -0.01% |
| Real estate sector | -0.23% |
| PSU Bank in India | -0.27% |
Top gainers today
| Company | Share Price (in ₹) | Change % |
| Titan Company | 3,992.00 | 2.12 |
| Nestle | 1,272.60 | 1.02 |
| Hindalco | 872.90 | 0.98 |
| Cipla | 1,506.00 | 0.65 |
| NTPC | 324.10 | 0.48 |
Top losers today
| Company | Share Price (in ₹) | Change % |
| Asian Paints | 2,746.50 | -1.40 |
| Shriram Finance | 960.25 | -1.38 |
| Tech Mahindra | 1,612.30 | -1.28 |
| TCS | 3,280.00 | -1.18 |
| Bajaj Finance | 1,000.00 | -1.16 |
Market aftermath: Impact on stocks
Stylam Industries: Stake sale spooks the market
Shares of Stylam Industries fell 5% after the company announced that Japan-based AICA Kogyo will acquire a 40% stake for ₹1,525 crore.
The transaction will be carried out in multiple tranches at a price of ₹2,250 per share. Promoters will sell a combined 40% stake, followed by an open offer to public shareholders. The open offer price reflects a 2% discount to the previous closing price of ₹2,300.50, which likely added to investor disappointment.
Post-transaction, AICA Kogyo will have significant board representation, with the right to nominate up to eight directors. While the partnership strengthens Stylam’s global footprint, the immediate market reaction reflected concerns around pricing and control.
Stylam Industries is one of India’s largest exporters of decorative laminates, with a strong presence across Europe, Asia and West Asia. However, the stock reaction shows that markets often focus on deal structure and pricing before long-term strategic benefits.
Midwest: Brokerage optimism lifts the stock
Shares of Midwest Granite rose 5% after Motilal Oswal initiated coverage with a ‘Buy’ rating.
The brokerage set a target price of ₹2,000 per share, implying an upside of 23% from the previous close of ₹1,625.40.
Midwest is India’s largest producer and exporter of premium Black Galaxy granite and operates 20 mines. In FY25, the company reported revenue of ₹6.3 billion, delivering a 21% compound annual growth rate over the past five years.
What stands out is profitability. Midwest posted an EBITDA margin of 27.4%, with EBITDA growing at a CAGR of over 44%, comfortably ahead of peers. Motilal Oswal expects revenue and EBITDA to grow at 36% and 47% CAGR, respectively, between FY25 and FY28, driven by its Quartz and HMS businesses.
Net debt stood at ₹2.2 billion in FY25, translating to a manageable 1.3x net debt-to-EBITDA, which is expected to fall below 1x as profits rise. Since its October 2024 listing, the stock has already gained 48%, showing strong investor confidence.
Titan: New lab-grown diamond brand excites investors
Titan Company shares hit a fresh 52-week high of ₹4,006.90, rising over 2%, after the company announced the launch of its lab-grown diamond jewellery brand ‘beYon – from the House of Titan’.
The first exclusive store will open in Mumbai on December 29, with plans to expand into Mumbai and Delhi soon. The brand targets women’s lifestyle needs beyond traditional categories like watches and accessories.
Lab-grown diamonds are gaining popularity as natural diamond prices rise, especially among younger, value-conscious buyers. Titan’s entry into this segment signals its intent to stay ahead of changing consumer preferences.
The stock has gained nearly 3% in one month, over 8% in six months, and around 23% in 2025 so far. Over five years, Titan has delivered a massive 167% return. The company now commands a market capitalisation of ₹3.55 lakh crore, though its P/E of 93.5 shows that high growth expectations are already priced in.
Crude oil: India’s energy trade undergoes a shift
India’s crude oil imports are also seeing structural changes. According to a report by Rubix Data Sciences, India’s crude imports from Russia fell 17.8% during January–October 2025.
This marks a clear shift from the post-Ukraine invasion phase, when India sharply increased purchases of discounted Russian crude. Tighter European Union rules and expanded US sanctions have raised compliance risks, making the strategy harder to sustain.
As a result, India has increased crude imports from the United States and the United Arab Emirates, reshaping energy trade flows. This shift could have long-term implications for refining margins, currency exposure and geopolitical risk management for Indian oil companies.
Conclusion:
The market session reflected a classic year-end mood. With limited triggers and lower participation, indices drifted lower, led by IT and auto stocks. At the same time, selective stories like Midwest’s growth outlook and Titan’s brand expansion continued to attract buyers.
Deals such as Stylam Industries’ stake sale reminded investors that pricing and structure matter as much as strategy. Meanwhile, changes in India’s oil import mix highlighted how global politics continue to influence domestic markets.
For investors, the takeaway is clear: when broader markets slow down, stock-specific fundamentals and long-term themes matter more than short-term index moves.
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