Stock Indices Steady as Metal, PSU Bank Gains Balance IT, FMCG Losses

An end-of-day recap of all that transpired in the Indian markets, highlighting the major price movements and the factors driving them

iStock.com

By Dehuti Jani

Dehuti Jani is an experienced project manager who also works as an independent financial journalist.

December 30, 2025 at 11:41 AM IST

Indian equities benchmarks ended little changed on Tuesday amid thin year-end trading, with persistent foreign fund outflows keeping sentiment subdued. The Nifty50 slipped 0.01% to 25,938.85, while the BSE Sensex eased 0.02% to 84,675.08. Selling pressure in IT, FMCG, realty and pharma stocks offset strength in PSU banks, metals and autos, resulting in a flat close with a negative bias. Ten of the 16 major sectors ended lower, while mid- and small-cap indices declined modestly.

Sectorally, Nifty Realty, IT and Pharma were the key laggards, while PSU Bank, Metal and Auto indices outperformed, reflecting selective buying in cyclical pockets. Among Sensex stocks, Eternal, Infosys, Asian Paints and Bajaj Finance weighed on the index, while M&M, Tata Steel, Bajaj Finserv and Axis Bank provided support.

Top Movers of the Day

Hindustan Copper surged up to 6–7.5%, extending its December rally to nearly 40% in eight sessions and taking 2025 gains past 100%, driven by global supply disruptions, electrification demand and AI-led infrastructure spending.

Honasa Consumer (Mamaearth parent) jumped over 8% after promoter Varun Alagh increased his stake, bucking an otherwise weak broader market.

Shriram Finance gained about 2.2% after Care Ratings upgraded its non-convertible debentures and subordinated debt, marking its first rating upgrade since the MUFG strategic deal.

JBM Auto rallied over 6% following news of acquiring an EV charging network from a Finnish power company, strengthening its electric mobility footprint.

Steel stocks saw broad-based buying, with Jindal Stainless, Tata Steel, SAIL and JSW Steel rising up to 4% amid heavy volumes; Jindal Stainless traded close to its 52-week high.

Maruti Suzuki hit a fresh all-time high, gaining about 1.6%, while Ashok Leyland rose nearly 2%, trading close to record levels.

Laurus Labs touched a new high, up around 1%, supported by expectations of strong CDMO segment performance.

Gujarat Kidney and Super Speciality debuted at 6% premium over its IPO price, reflecting steady demand for healthcare listings.

Shares of Cupid rose about 3–4% to an all-time high after approving plans to set up an FMCG facility in Saudi Arabia.

Mangalam Drugs & Organics hit a 5% upper circuit after Vijay Kedia’s Kedia Securities bought a stake via market purchases.

Deccan Gold Mines fell nearly 10% post rights issue selling, while Eternal (Zomato) slipped about 2% to a five-month low amid heavy volumes.

Futures & Options
Nifty December 2025 futures closed at 26,135, maintaining a premium of 196.15 points over the Nifty 50’s cash close of 25,938.85, even as the benchmark index slipped marginally by 0.01%, in the spot market. Volatility remained subdued, with India VIX easing 0.43% to 9.68, reflecting continued calm in near-term expectations. Trading activity in the F&O segment was led by HDFC Bank, ICICI Bank and Reliance Industries stock futures. The January 2026 derivatives contracts are scheduled to expire on 27 January 2026.

Bonds
Government bond yields were mostly stable on Tuesday as heavy state borrowing and reduced risk appetite kept investors cautious. The 10-year yield eased to 6.5786% from 6.5912%, with buying limited by ongoing supply concerns. State governments raised ₹354.5 billion through bond sales significantly above schedule which added further pressure. Additionally, the March 2026 quarter issuance calendar, detailing ₹3.84 trillion in Treasury bill auctions, reinforced expectations of sustained supply and capped further declines in yields.

Forex
The rupee strengthened on Tuesday, snapping a three-session losing streak as index-rebalancing inflows and unwinding of dollar-long positions supported the currency amid thin year-end trading. The rupee closed 0.2% higher at 89.79 per US dollar, after opening at 89.9325, compared with Monday’s close of 89.9750. Trading remained range-bound through the session, with corporate activity largely muted and limited to routine near-term dollar purchases for payables or conversions of receivables.

Crypto
Crypto markets slipped sharply as a risk-off tone dominated digital assets, pushing major tokens lower amid institutional outflows and heightened security concerns. Bitcoin fell 3.18% to $87,234, slipping below the $88,000 mark, with a market capitalisation of about $1.74 trillion and 24-hour trading volume of roughly $39.7 billion, as investors pared exposure to riskier assets. Ethereum mirrored the weakness, dropping 3.17% to $2,942, dragging its market value to around $355 billion on volumes of $22.3 billion and falling back below the key $3,000 psychological level.

US Stock Futures
US stock futures were little changed in early premarket trade on Tuesday after a tech-led pullback in the previous session, as investors stayed cautious ahead of the release of the Federal Reserve’s meeting minutes for signals on the 2026 rate path. Futures on the S&P 500 slipped 0.02% and Nasdaq 100 futures eased 0.03%, while Dow Jones futures hovered near flat levels today. Deal-related headlines involving Meta and DigitalBridge kept attention focused on AI and digital infrastructure stocks, but overall positioning remained restrained amid thin year-end liquidity.

US Treasury Notes
US Treasury yields were largely steady in early trade as investors assessed recent economic data and waited for the release of minutes from the Federal Reserve’s December policy meeting. The benchmark 10-year Treasury yield hovered around 4.12%, holding slightly above recent lows after a strong Q3 GDP print complicated expectations for the pace of future rate cuts. At the front end, the 2-year yield was trading near 3.46%–3.47%, reflecting a balance between signs of a cooling labour market and lingering concerns over inflation, with markets still cautious about the Fed’s 2026 policy trajectory.

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