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Bourses remain in red during early afternoon session
Dec-02-2025

Indian markets remained in red during early afternoon session as traders avoided to take a risk. Traders preferred to play safe ahead of RBI monetary policy decision during this week. Investors overlooked the government’s latest data showing that Foreign direct investment (FDI) equity inflows into India rose 18 per cent to $35.18 billion during April-September this fiscal year (H1FY26). Besides, Reserve Bank of India (RBI) in its latest data has said that the reduction in the trade deficit, higher services exports and higher remittances by the diaspora has helped the country narrow its current account deficit to $12.3 billion or 1.3 per cent of GDP in the September quarter of current financial year. Sector wise, agriculture sector remained in limelight as sowing of Rabi-season crops has increased 9.87% at 393.07 lakh hectares area as on November 28, 2025. The total area covered under Rabi crops was 357.73 lakh hectares during the corresponding period of last year.

On the global front, Asian markets were trading mostly in green as Japan's consumer sentiment improved further in November to the highest level in more than one year. The seasonally adjusted consumer confidence index rose to 37.1 in November from 35.8 in October. The street had forecast the index to increase to 36.2.

The BSE Sensex is currently trading at 85261.90, down by 380.00 points or 0.44% after trading in a range of 85194.59 and 85553.51. There were 11 stocks advancing against 19 stocks declining on the index.

The broader indices were trading in red; the BSE Mid cap index declined 0.10%, while Small cap index was down by 0.48%.

The top gaining sectoral indices on the BSE were Telecom up by 0.46%, Consumer Durables up by 0.20%, TECK up by 0.20% and IT was up by 0.02%, while Capital Goods down by 0.48%, Industrials down by 0.41%, Bankex down by 0.38%, Basic Materials down by 0.36% and FMCG was down by 0.32% were the top losing indices on BSE.

The top gainers on the Sensex were Asian Paints up by 1.74%, NTPC up by 0.61%, Infosys up by 0.40%, Bharti Airtel up by 0.40% and Trent up by 0.38%. On the flip side, Bharat Electronics down by 1.21%, ICICI Bank down by 1.10%, Eternal down by 1.01%, HDFC Bank down by 0.95% and Reliance Industries down by 0.87% were the top losers.

Meanwhile, government data showed that India's gross Goods and Services Tax (GST) collections slipped to a year-low of Rs 1.70 lakh crore in November 2025, growing at a meagre 0.7 per cent year-on-year on a base lowered by the exclusion of proceeds from cess on sin and luxury goods. Gross GST collection was over Rs 1.69 lakh crore in November 2024. Month-on-month, the collections were lower than the Rs 1.96 lakh crore in October 2025. The October collections include compensation cess. Out of the Rs 1.70 lakh crore, CGST comprised Rs 34,843 crore, while Rs 42,522 crore was SGST, and Rs 92,910 crore was IGST. 

Gross domestic revenue, which is an indicator of tax revenues from domestic sales, declined 2.3 per cent to over Rs 1.24 lakh crore in November. Gross import revenues grew 10.2 per cent to Rs 45,976 crore. Refunds dipped 4 per cent to Rs 18,196 crore during November 2025. After adjusting refunds, net GST revenues in November stood at Rs 1.52 lakh crore, a 1.3 per cent growth year-on-year.  Of the Rs 1.52 lakh crore net GST revenue, CGST comprised Rs 32,664 crore, while SGST was Rs 39,805 crore, and IGST was Rs 79,611 crore.

While tepid collections were attributed to a major reduction in tax rates on most goods and services, the silver lining was the spurt in consumption across the economy, as evident from the rise in turnover of most companies, giving hope of a multiplier effect of the rate cut in the medium term. In a major reform aimed at spurring domestic consumption and fireproofing the economy from global trade winds, the government had rationalised GST tax rates to just two rates of 5 per cent and 18 per cent with effect from September 22, 2025, from 5, 12, 18 and 28 per cent previously. A separate 40 per cent rate has been fixed on ultra-luxury and demerit goods. The consumption rise, due to most products being brought into the lower tax bracket and festival buying, helped prop up GST collection in October. November was considered a test month to see how deep the consumption revival was.

The CNX Nifty is currently trading at 26065.00, down by 110.75 points or 0.42% after trading in a range of 26040.75 and 26154.60. There were 14 stocks advancing against 35 stocks declining on the index, while 1 stock remained unchanged. 

The top gainers on Nifty were Asian Paints up by 1.65%, Dr. Reddy's Lab up by 0.83%, NTPC up by 0.72%, JIO Financial up by 0.51% and Trent up by 0.46%. On the flip side, Interglobe Aviation down by 1.63%, Bharat Electronics down by 1.25%, ICICI Bank down by 1.20%, HDFC Life Insurance down by 1.18% and Eternal down by 1.04% were the top losers.

Asian markets were trading mostly in green; Taiwan Weighted added 221.74 points or 0.8% to 27,564.27, KOSPI increased 74.56 points or 1.87% to 3,994.93, Hang Seng advanced 54.74 points or 0.21% to 26,088.00, Jakarta Composite gained 49.23 points or 0.57% to 8,598.02, Nikkei 225 surged 39.72 points or 0.08% to 49,343.00 and Straits Times was up by 6.14 points or 0.14% to 4,532.36. On the flip side, Shanghai Composite was down by 16.3 points or 0.42% to 3,897.71.
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