Buying interest in consumer durables and FMCG contrasted with selling pressure in metal, realty and oil & gas stocks.

At 13:25 ST, the barometer index, the S&P BSE Sensex, declined 447.18 points or 0.52% to 84,766.18. The Nifty 50 index fell 143.30 points or 0.55% to 25,884.60.

The broader market underperformed the frontline indices. The S&P BSE Mid-Cap index declined 0.82% and the S&P BSE Small-Cap index fell 0.64%.

The market breadth was weak. On the BSE, 1,564 shares rose and 2,441 shares fell. A total of 189 shares were unchanged.

In the forex market, the rupee slipped against the dollar, trading near 90.9950 after ending the previous session at 90.7800. During intraday trade, the rupee touched a record low of 91.1400.

Gainers & Losers:

Bharti Airtel (up 1.39%), Titan Company (up 1.11%), Tata Consumer Products (up 0.94%), SBI Life Insurance (up 0.58%) and Interglobe Aviation (Indigo) (up 0.46%) were the major Nifty50 gainers.

Axis Bank (down 4.26%), Eternal (down 3.15%), JSW Steel (down 2.18%), HCL Technologies (down 2.15%) and Adani Enterprises (down 1.91%) were the major Nifty50 losers.

IPO Update:

KSH International received bids for 13,35,828 shares as against 1,36,16,438 shares on offer, according to stock exchange data at 13:15 IST on Tuesday (16 December 2025). The issue was subscribed 0.10 times. The issue opened for bidding on 16 December 2025 and it will close on 18 December 2025. The price band of the IPO is fixed between Rs 365 and 384 per share.

ICICI Prudential Asset Management Company received bids for 27,84,42,906 shares as against 3,50,15,691 shares on offer, according to stock exchange data at 13:15 IST on Tuesday (16 December 2025). The issue was subscribed 7.95 times. The issue opened for bidding on 12 December 2025 and it will close on 16 December 2025. The price band of the IPO is fixed between Rs 2,061 and 2,165 per share.

Economy:

The HSBC Flash India Composite Output Index, which tracks month-on-month changes in combined manufacturing and services output, eased to 58.9 in December from 59.7 in November, indicating the slowest pace of output growth since February.

HSBC Flash India Manufacturing PMI posted 55.7 in December, down from 56.6 in November. The latest reading signalled the smallest improvement in the health of the manufacturing sector for two years, albeit one that was still marked and more pronounced than the series average.

Meanwhile, the HSBC Flash India Services PMI Business Activity Index moderated to 59.1 in December from 59.8 in November. The HSBC Flash India Manufacturing PMI Output Index also softened to 58.4, compared with 59.6 in the prior month.

Stocks in Spotlight:

HDFC Bank shed 0.24%. The Reserve Bank of India (RBI) has given its approval to the bank to acquire 'aggregate holding’ of up to 9.50% of the paid-up share capital or voting rights in IndusInd Bank. The bank needs to ensure that the 'aggregate holding’ in IndusInd does not exceed 9.50% of the paid-up share capital or voting rights of IndusInd, at all times.

Shelter Pharma fell 1.55% it secured an international order from Taha Drugs & Chemicals for D3 Cure Capsules 3 10, with a total order value of $27,540. The order is a fixed-cost contract and is to be executed within two months

Senores Pharmaceuticals rose 0.35%. The company announced that it has signed a share purchase agreement (SPA) to acquire 100% of the share capital of Apnar Pharma in two tranches. The company will acquire entire stake at total enterprise value of approximately Rs 91 crore.

Panacea Biotec declined 1.36%. The company announced the appointment of Vinod Goel as chief financial officer (CFO) of the company, effective 15 December 2025.

RBL Bank slipped 1.63% after Buvanesh Tharashankar, chief financial officer (CFO), tendered his resignation to pursue opportunities outside the bank.

Mahanagar Telephone Nigam (MTNL) rose 5.12% after the state-owned telecom firm said its board approved the sale of a residential property in Mumbai. The transaction is part of MTNL's asset monetisation plan. The company will sell the GN Block residential quarters at Bandra Kurla Complex to NABARD through a government-to-government transfer. The deal is valued at Rs 350.72 crore. It has a plot area of 2,680 square metres and a built-up area of about 4,019 square metres.

Ion Exchange India rallied 5.14% after the company received orders aggregating to around Rs 205 crore from multiple customers for Ultra-pure water and Waste water treatment project.

Global Markets:

European market declined ahead of the European Central Bank’s year-end policy meeting on Thursday.

The Bank of England, Sweden’s Riksbank, and Norway’s Norges Bank will also hold their last monetary policy decisions for 2025 this week.

The Asian market declined on Tuesday, tracking Wall Street declines as investors continued to rotate out of the artificial intelligence trade in the U.S.

Flash purchasing managers index numbers from S&P Global showed that business activity expanded at a slower pace in Australia in December, with the composite PMI falling to 51.1 from November’s 52.6.

Overnight in the U.S., the S&P 500 lost 0.16% after beginning the session in positive territory.

The Dow Jones Industrial Average slipped marginally, while the tech heavy Nasdaq Composite fell 0.59%.