Market breadth remained positive with 2,397 stocks advancing against 1,786 declines on the BSE
Equity benchmarks snapped a three-session losing streak on Thursday, with the Sensex rising 426.86 points or 0.51 per cent to close at 84,818.13, even as the rupee plunged to a record low of 90.48 against the US dollar, raising concerns over imported inflation and currency volatility.
The Nifty 50 gained 140.55 points or 0.55 per cent to settle at 25,898.55 after testing crucial support levels during early trade. The index fell to an intra-day low of 25,693 before staging a sharp recovery of nearly 229 points to close near the day’s high, signalling renewed buying interest at lower levels.
“Equity markets ended higher on Thursday as the widely-expected 25 bps rate cut by the US Federal Reserve lifted investor sentiment. However, the gains were partly capped by a sharp fall in the Indian rupee to a fresh record low, which kept currency-related worries elevated,” said Ponmudi R, CEO, Enrich Money. “Fresh concerns over delays in achieving meaningful progress in the India-US trade negotiations also weighed on risk appetite, limiting broader upside for domestic equities.”
Highs and lows
Market breadth remained positive with 2,397 stocks advancing against 1,786 declines on the BSE, where 4,341 stocks were traded. A total of 85 stocks hit their 52-week highs while 166 touched their 52-week lows. Four stocks hit the lower circuit, while none touched the upper circuit.
Adani Enterprises led the Nifty gainers, surging 2.65 per cent to close at ₹2,270.20, followed by Jio Financial Services, which climbed 2.63 per cent to ₹298.50. Tata Steel advanced 2.57 per cent to ₹166.40, while Eveready Industries gained 2.38 per cent to ₹290. Kotak Mahindra Bank rounded off the top five gainers with a 2.06 per cent rise to ₹2,173.30.
On the losing side, Asian Paints declined 1 per cent to ₹2,776.50, emerging as the top loser. SBI Life Insurance fell 0.86 per cent to ₹1,997.10, while Bharti Airtel shed 0.63 per cent to ₹2,054. Power Grid Corporation dropped 0.28 per cent to ₹264.75, and ONGC slipped 0.22 per cent to ₹238.76.
Sectoral indices witnessed broad-based gains with the Capital Market index outperforming, rallying 2.70 per cent. The Nifty Midcap 100 surged 0.97 per cent to 59,578.05, while the Nifty Smallcap 100 advanced 0.81 per cent to 17,228.05. The Nifty Bank rose 0.42 per cent to 59,209.85, Nifty Financial Services gained 0.58 per cent to 27,561.90, and the Nifty Next 50 added 0.54 per cent to close at 67,939.50.
“Markets staged a rebound on the weekly expiry day, rising nearly 0.5 per cent after three consecutive sessions of decline,” said Ajit Mishra, SVP Research at Religare Broking. “Buying across IT, auto, metals, realty and banking helped offset recent weakness, supported by a decline in India VIX and positive global cues after Wall Street strengthened post the Fed policy outcome. Meanwhile, steady domestic sentiment was reinforced by robust equity inflows of ₹29,894 crore in November.”
Currency market
The currency markets witnessed significant turmoil with the rupee depreciating 41 paise to close at 90.37 per dollar. “The rupee plunged to a record low against the US dollar yesterday, a move largely fuelled by aggressive dollar purchases from the importers. Specifically, surging global prices for precious metals enforced metal importers into rush for dollars, creating immense pressure,” said Dilip Parmar, Research Analyst at HDFC Securities. “Looking ahead, the immediate market resistance for the spot USDINR pair now sits at 90.70 and the crucial support level has shifted significantly higher to 90.10 from the prior mark of 89.70.”
NSE cash market turnover declined 17 per cent from the previous session, marking its lowest level in four months. The BSE advance-decline ratio improved to 1.40, signalling a revival in buying interest following the previous session’s correction.
“Technically, after an early morning intraday dip, the market took support near 25,700/84150 and bounced back sharply, with the market rallying over 200/700 points from the day’s lowest point,” said Shrikant Chouhan, Head Equity Research at Kotak Securities. “We believe that 25,850/84500 and 25,700/84150 would act as key support zones. On the higher side, 25,950/85000 would act as an immediate resistance area for the bulls.”
Looking ahead, market participants will closely monitor the rupee’s movement and its impact on corporate earnings, particularly for import-dependent sectors. Nandish Shah, Deputy Vice President at HDFC Securities, noted that “a decisive move below 25,735 could trigger further downside towards the next support levels at 25,663 and 25,450. On the upside, the 20-DEMA at 25,956 is likely to act as immediate resistance, while 26,202 remains a positional hurdle for the bulls.”
Published on December 11, 2025
