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PSU Bank, FMCG and consumer durables shares advanced while IT and pharma stocks advanced.
At 09:25 IST, the barometer index, the S&P BSE Sensex, declined 29.25 points or 0.03% to 85,109.02. The Nifty 50 index fell 49.05 points or 0.19% to 25,975.60.
In the broader market, the S&P BSE Mid-Cap index fell 0.19% and the S&P BSE Small-Cap index shed 0.04%.
The market breadth was negative. On the BSE, 1,337 shares rose and 1,574 shares fell. A total of 163 shares were unchanged.
Foreign portfolio investors (FPIs) sold shares worth Rs 3,642.30 crore, while domestic institutional investors (DIIs) were net buyers to the tune of Rs 4,645.94 crore in the Indian equity market on 02 December 2025, provisional data showed.
Stocks in Spotlight:
Bikaji Foods International rose 0.37%. The company has subscribe additional 25,000 common stocks of $10 each, amounting to $ 2,50,000 in its wholly-owned subsidiary, Bikaji Foods International USA Corp (Bikaji USA).
Indian Railway Finance Corporation (IRFC) added 0.21%. The company has signed a loan agreement with Sumitomo Mitsun Banking corporation, GIFT city Branch at Gift city in Gandhinagar, Gujarat for raising external commercial borrowing loan of JPY equivalent $300 million.
CEAT advanced 1.12% after the company’s board said that it will meet on 5 December 2025 to explore a proposal for issuance of non-convertible debentures (NCDs) on private placement basis.
Numbers to Track:
The yield on India's 10-year benchmark federal paper was unchanged at 6.503.
In the foreign exchange market, the rupee edged lower against the dollar. The partially convertible rupee was hovering at 90.0100 compared with its close of 89.9650 during the previous trading session. The currency slipped to a fresh record low after breaching the 90-mark.
MCX Gold futures for 5 December 2025 settlement rose 0.62% to Rs 128,120.
The US Dollar Index (DXY), which tracks the greenback's value against a basket of currencies, was down 0.11% to 99.23.
The United States 10-year bond yield fell 0.22% to 4.079.
In the commodities market, Brent crude for January 2025 settlement declined 2 cents or 0.03% to $63.43 a barrel.
Global Markets:
Asia-Pacific markets were mostly higher Wednesday, after Wall Street saw a tech-fueled recovery and a cryptocurrency rally.
Bitcoin climbed over 7% to cross the $90,000 mark in overnight trading after a sharp sell-off a day earlier.
South Korea’s revised third-quarter GDP numbers indicated that country’s economy grew at 1.8% year on year, compared to 1.7% in the initial estimate, data from the central bank showed Wednesday.
Australia’s GDP expanded 2.1% year on year, marking its strongest expansion since the third quarter of 2023, but fell short of the widely reported 2.2% expected growth rate.
U.S. stock futures were little changed during early Asia hours after major U.S. indexes recovered some losses from the previous session.
Overnight in the U.S., the Dow Jones Industrial Average gained 0.39%, while the S&P 500 climbed 0.25% and the Nasdaq Composite advanced 0.59%.
Shares of Samman Capital are banned from F&O on 3 December 2025.
Stocks to Watch:
Bikaji Foods International has subscribe additional 25,000 common stocks of $10 each, amounting to $ 2,50,000 in its wholly-owned subsidiary, Bikaji Foods International USA Corp (Bikaji USA).
Indian Railway Finance Corporation (IRFC) has signed a loan agreement with Sumitomo Mitsun Banking corporation, GIFT city Branch at Gift city in Gandhinagar, Gujarat for raising external commercial borrowing loan of JPY equivalent $300 million.
CEAT’s board will meet on 5 December 2025 to explore a proposal for issuance of non-convertible debentures (NCDs) on private placement basis.
Gujarat State Petronet appointed Lokesh Agarwal as chief financial officer (CFO) with effect from 2 December 2025.
Deep Industries has acquired 350,000 equity shares (comprising 70%) of Deep Natural Resources (DNRL) and pursuant to this acquisition of equity shares DNRL has become a subsidiary of the company
IT shares rebounded after declining in the past trading session.
At 10:25 IST, the barometer index, the S&P BSE Sensex declined 343.36 points or 0.40% to 84,8794.91. The Nifty 50 index fell 130.80 points or 0.50% to 25,901.55.
The broader market underperformed the frontline indices. The S&P BSE Mid-Cap index declined 1.16% and the S&P BSE Small-Cap index fell 0.79%.
The market breadth was weak. On the BSE, 1,182 shares rose and 2,583 shares fell. A total of 213 shares were unchanged.
In the foreign exchange market, the rupee edged lower against the dollar. The partially convertible rupee was hovering at 90.1800 compared with its close of 89.9650 during the previous trading session. The currency slipped to a fresh record low after breaching the 90-mark.
Economy:
The seasonally adjusted HSBC India Services PMI Business Activity Index rose from 58.9 in October to 59.8 in November, indicating a historically strong expansion in output and a faster pace of growth than the previous month.
Meanwhile, the HSBC India Composite PMI Output Index stood at 59.7 in November, pointing to robust growth. However, the decline from October’s 60.4 reading signalled the slowest expansion since May
IPO Update:
Meesho received bids for 10,06,89,210 shares as against 27,79,38,446 shares on offer, according to stock exchange data at 11:18 IST on Wednesday (3 December 2025). The issue was subscribed 0.36 times. The issue opened for bidding on 3 December 2025 and it will close on 5 December 2025. The price band of the IPO is fixed between Rs 105 and 111 per share.
Aequs received bids for 3,63,87,480 shares as against 4,20,26,913 shares on offer, according to stock exchange data at 11:20 IST on Wednesday (3 December 2025). The issue was subscribed 0.87 times. The issue opened for bidding on 3 December 2025 and it will close on 5 December 2025. The price band of the IPO is fixed between Rs 118 and 124 per share.
Vidya Wires received bids for 3,50,48,448 shares as against 4,33,34,009 shares on offer, according to stock exchange data at 11:18 IST on Wednesday (3 December 2025). The issue was subscribed 0.81 times. The issue opened for bidding on 3 December 2025 and it will close on 5 December 2025. The price band of the IPO is fixed between Rs 48 and 52 per share.
Buzzing Index:
The Nifty IT index advanced 0.85% to 37,859.25. The index fell 0.02% in the past trading session.
Wipro (up 2.36%), Tata Consultancy Services (up 1.73%), Infosys (up 0.95%), Mphasis (up 0.75%) and Tech Mahindra (up 0.72%), LTIMindtree (up 0.24%), HCL Technologies (up 0.02%) advanced.
Stock in Spotlight:
Indian Railway Finance Corporation (IRFC) declined 1.29%. The company announced that it has signed a loan agreement with Sumitomo Mitsui Banking Corporation (SMBC) to raise an External Commercial Borrowing (ECB) loan valued at the Japanese Yen (JPY) equivalent of $300 million.
Global Market:
IRFC stated that this development marks its first entry into the ECB market under the IRFC 2.0 framework, following the company’s strategic diversification into infrastructure projects with backward and forward linkages.
The company added that proceeds from the loan will be used to finance projects connected to the railway sector or other approved initiatives, in line with the External Commercial Borrowing guidelines.
Manoj Kumar Dubey, Chairman and Managing Director & CEO, IRFC, said, 'At IRFC, our priority is to mobilise resources from various available avenues at the most competitive rates, thereby supporting projects that are closely integrated with Indian Railways and delivering enduring benefits. By tapping the external commercial borrowing market after more than 3 years, we are not only intending to reduce our weighted average borrowing cost but also reviving our presence in the international market, which shall play a crucial role in further strengthening of the railway infrastructure that is vital for nation building.'
Indian Railway Finance Corp.'s principal business is to borrow funds from the financial markets to finance. The Government of India held an 86.36% stake in the company as of 30 September 2025.
Indian Railway Finance Corporation (IRFC)’s standalone net profit jumped 10.19% to Rs 1,776.98 crore in Q2 FY26 as against Rs 1,612.65 crore posted in Q2 FY25. However, total revenue from operations declined 7.64% year-on-year (YoY) to Rs 6,371.89 crore in the quarter ended 30 September 2025.
The counter shed 0.52% to Rs 115 on the BSE.
PSU bank, consumer durables and auto shares tumbled while IT, private bank and media shares advanced.
As per provisional closing data, the barometer index, the S&P BSE Sensex declined 31.46 points or 0.04% to 85,106.81. The Nifty 50 index fell 46.20 points or 0.18% to 25,986 In the past four trading sessions, the Nifty and Sensex declined 0.88% and 0.72%, respectively..
The broader market underperformed the frontline indices. The S&P BSE Mid-Cap index declined 0.95% and the S&P BSE Small-Cap index fell 0.43%.
The market breadth was weak. On the BSE, 1,486 shares rose and 2,673 shares fell. A total of 162 shares were unchanged.
In the foreign exchange market, the rupee edged lower against the dollar. The partially convertible rupee was hovering at 90.1975 compared with its close of 89.9650 during the previous trading session. The currency slipped to a fresh record low after breaching the 90-mark.
The Nifty PSU Bank index declined 3.07% to 8,253.20, extending its losses to 3.31% over the past two trading sessions. The weakness triggered after the government ruled out any proposal to raise the foreign direct investment limit in public sector banks.
The Finance Ministry said no such proposal is under consideration. It reiterated that the existing framework under the Banking Companies Acquisition and Transfer of Undertakings Act of 1970 and 1980 and the Foreign Exchange Management Non-Debt Instruments Rules of 2019 sets the FDI limit at 20% for public sector banks and 74% for private lenders. Of this, FDI up to 49% in private banks is permitted through the automatic route, while investments between 49% and 74% require government approval.
Indian Bank (down 5.43%), Punjab National Bank (down 4.48%), Canara Bank (down 3.91%), Bank of India (down 3.68%), Punjab & Sind Bank (down 3.58%), Bank of Baroda (down 3.33%), Union Bank of India (down 2.82%), Central Bank of India (down 2.28%), UCO Bank (down 2.12%) and State Bank of India (down 1.71%) declined.
Meesho received bids for 42,91,30,575 shares as against 27,79,38,446 shares on offer, according to stock exchange data at 15:27 IST on Wednesday (3 December 2025). The issue was subscribed 1.54 times. The issue opened for bidding on 3 December 2025 and it will close on 5 December 2025. The price band of the IPO is fixed between Rs 105 and 111 per share.
Aequs received bids for 11,50,77,240 shares as against 4,20,26,913 shares on offer, according to stock exchange data at 15:27 IST on Wednesday (3 December 2025). The issue was subscribed 2.74 times. The issue opened for bidding on 3 December 2025 and it will close on 5 December 2025. The price band of the IPO is fixed between Rs 118 and 124 per share.
Vidya Wires received bids for 10,43,87,328 shares as against 4,33,34,009 shares on offer, according to stock exchange data at 15:27 IST on Wednesday (3 December 2025). The issue was subscribed 2.41 times. The issue opened for bidding on 3 December 2025 and it will close on 5 December 2025. The price band of the IPO is fixed between Rs 48 and 52 per share.
Blue Cloud Softech Solutions (BCSSL) added 2.71% after the company said that it has received a major data annotation and AI training services order from USA-based Stratos Forge Inc. Based on this performance, Stratos Forge Inc has now awarded BCSSL the full scale project rollout with a commercial value of Rs 110.08 crore.
Angel One slipped 5.42% after the company reported that its gross client acquisition declined 16.6% year-on-year (YoY) to 0.50 million in November 2025 from 0.60 million in November 2024.
Indian Railway Finance Corporation (IRFC) declined 1.37%. The company announced that it has signed a loan agreement with Sumitomo Mitsui Banking Corporation (SMBC) to raise an External Commercial Borrowing (ECB) loan valued at the Japanese Yen (JPY) equivalent of $300 million.
Mahindra Lifespace Developers shed 0.51%. The company said that it has been selected as the preferred development partner for a major residential redevelopment project in Matunga, Mumbai. The project spans approximately 1.53 acres, with a gross development value of around Rs 1,010 crore.
Quality Power Electrical Equipment added 1.58% after the company announced that it has secured an order worth Rs 13.90 crore for the supply of coil products.
Gujarat Pipavav Port advanced 1.40% after the firm signed a non-binding memorandum of understanding (MoU) with NYK India to upgrade RoRo infrastructure at Pipavav Port.
MOIL rose 0.39%. The company said that it has recorded 1.65 lakh metric tonnes (LMT) of manganese ore production in November 2025, showing a 1% year-on-year (YoY) increase.
The Dow Jones index futures were up 102 points, indicating a positive opening in the US stocks today.
Most European markets advanced on Wednesday as investors awaited the Federal Reserve’s decision, which is scheduled on 10 December 2025.
Asia-Pacific markets ended mixed on Wednesday, after Wall Street saw a tech-fueled recovery and a cryptocurrency rally.