Rupee weakness weighs on market | Photo Credit: umesh chandra
The rupee’s continued depreciation toward the 90.10 level against the US dollar and persistent foreign institutional investor outflows continued to pressure markets. Market breadth remained weak, with 2,582 stocks declining against 1,325 advances on the BSE, while 220 stocks hit 52-week lows compared to 74 at 52-week highs.
Technology stocks provided support, with Wipro leading Nifty gainers with a 2.17 per cent rise to ₹255.60, followed by TCS up 1.73 per cent at ₹3,189.90. ICICI Bank gained 0.91 per cent to ₹1,385.50, Infosys rose 0.88 per cent to ₹1,574.70, and Hindalco advanced 0.81 per cent to ₹813.35.
Healthcare and financial stocks led the decline, with Max Healthcare falling 2.34 per cent to ₹1,091.40, emerging as the top Nifty loser. Shriram Finance dropped 2.12 per cent to ₹825.50, Tata Consumer Products declined 2.02 per cent to ₹1,138.70, Mahindra & Mahindra fell 2.00 per cent to ₹3,642.30, and NTPC slipped 1.93 per cent to ₹322.25.
Broader indices underperformed benchmarks, with Nifty Midcap 100 down 0.92 per cent at 60,379.05, Nifty Smallcap 100 declining 0.70 per cent to 17,658.95, and Nifty Next 50 falling 0.95 per cent to 68,497.90. Bank Nifty dropped 0.29 per cent to 59,103.05 after breaking below the 59,200 support level.
Ponmudi R, CEO of Enrich Money, noted that the Nifty is oscillating in the 25,900-26,000 support zone with immediate resistance at 26,100-26,200. He said traders are staying cautious and waiting for clearer cues from the RBI monetary policy decision, scheduled for December 5.
The session saw 124 stocks hit the upper circuit and 170 the lower circuit, reflecting selling pressure across segments. Markets are now focused on the upcoming RBI policy decision and US payrolls data, alongside global developments, including Putin’s India visit and Fed and ECB meetings later this month.
Published on December 3, 2025
