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Sensex, Nifty trade lower amid mixed Asian cues
Dec-08-2025

Indian equity benchmarks made a flat-to-negative start on Monday tracking mixed cues from Asian counterparts. Sensex and Nifty soon added some losses and were trading lower in early deals on account of selling in all the sector indices except IT and TECK. Some cautiousness came as RBI said that India's forex reserves dropped by $1.88 billion to $686.23 billion during the week ended November 28. However, downside remained limited after India and Russia announced sixteen agreements covering defense, trade, the economy, healthcare, academics, culture, and media, with the aim of diversifying trade beyond oil and defense.

On the global front, Asian markets were trading mixed, as traders remain cautious ahead of the US Fed's monetary policy decision later in the week even though they are optimistic of an interest rate cut. They will look ahead to post meeting comments by Fed officials for hints about the outlook for interest rates into the next year. Besides, Japan's gross domestic product contracted a seasonally adjusted 0.6 percent on quarter in the third quarter of 2025.

The BSE Sensex is currently trading at 85507.45, down by 204.92 points or 0.24% after trading in a range of 85490.69 and 85722.97. There were 8 stocks advancing against 22 stocks declining on the index.

The broader indices were trading in red; the BSE Mid cap index fell 0.10%, while Small cap index was down by 0.36%.

The only gaining sectoral indices on the BSE were IT up by 0.27% and TECK up by 0.20%, while Realty down by 0.88%, Utilities down by 0.63%, PSU down by 0.54%, Capital Goods down by 0.52% and Auto down by 0.45% were the top losing indices on BSE.

The top gainers on the Sensex were Tech Mahindra up by 0.82%, Infosys up by 0.57%, Reliance Industries up by 0.29%, TCS up by 0.27% and Tata Motors Passenger Vehicles up by 0.25%. On the flip side, Bharat Electronics down by 1.20%, Bajaj Finance down by 1.05%, Maruti Suzuki down by 0.66%, Mahindra & Mahindra down by 0.64% and Asian Paints down by 0.63% were the top losers.

Meanwhile, Russia has agreed to give greater market access to Indian goods to address India’s concerns over the increasing trade deficit in Moscow’s favour as boosting economic cooperation was the central focus of summit talks between Prime Minister Narendra Modi and Russian President Vladimir Putin. Foreign Secretary Vikram Misri said the overarching focus of the summit was to expand and strengthen the economic dimension of the India-Russia partnership to advance towards the shared goal of reaching $100 billion in bilateral trade by 2030. He added ‘The India-Russia relationship also remains an anchor for constructive engagement in an increasingly complex geopolitical environment, and both our sides are committed to continue to do our part in addressing the challenges that the current environment poses for both countries’. The two sides also reviewed their wide-ranging cooperation in the energy sector, against the backdrop of mounting American pressure on India to stop procurement of Russian crude oil.

Misri said expanding bilateral trade and strengthening economic cooperation requires swiftly addressing non-tariff barriers and regulatory impediments, and added that enhancing Indian exports to Russia in sectors such as pharmaceuticals, agriculture, marine products and textiles was a key discussion point. He added ‘Each one of these sectors, in considerable detail, was discussed between the two leaders today, with both of them pointing to the opportunities that existed in these areas and what were the steps that were needed, that could be taken by both sides in order to move towards the mutually shared objective of increasing trade in these areas’. India’s annual procurement of goods and services from Russia amounts to around $65 billion, while Russia’s imports from India stand at around $5 billion.

Regarding volume of India’s procurement of Russian crude oil going down following American sanctions on two Russian oil giants, he said ‘We have been fairly clear in terms of communicating that as a significant importer of energy, our priority is to ensure that 1.4 billion people in India have their energy needs secured’. He added ‘Our energy sourcing policies are guided entirely by this imperative. Ensuring stable energy prices and securing supplies are the twin goals of our sourcing policy. And part of this, therefore, goes into the area of diversifying energy supplies. Our partners, traditional as well as new, understand this and appreciate this’. 

In the talks, both sides noted the current and potential cooperation between Indian and Russian companies in fields of oil and oil products, oil refining and petrochemical technologies, oilfield services and upstream technologies, and related infrastructure. The discussions also touched upon cooperation in LNG (Liquefied Natural Gas) and LPG (Liquefied Petroleum Gas) related infrastructure and underground coal gasification (UCG) technology. They agreed to continue jointly developing systems of bilateral trade settlements through the use of national currencies. India and Russia welcomed steps to ensure the long-term supply of fertilizers to India and discussed the potential establishment of joint ventures in this area.

The CNX Nifty is currently trading at 26120.00, down by 66.45 points or 0.25% after trading in a range of 26111.95 and 26178.70. There were 15 stocks advancing against 35 stocks declining on the index.

The top gainers on Nifty were HDFC Life Insurance up by 1.23%, Hindalco up by 0.88%, Tech Mahindra up by 0.77%, Wipro up by 0.58% and Infosys up by 0.55%. On the flip side, Interglobe Aviation down by 3.70%, Bharat Electronics down by 1.68%, Bajaj Finance down by 0.95%, Nestle down by 0.87% and Coal India down by 0.72% were the top losers.

Asian markets are trading mixed; Taiwan Weighted jumped 266.79 points or 0.95% to 28,247.68, Jakarta Composite rose 77.49 points or 0.9% to 8,710.25, Shanghai Composite strengthened 24.38 points or 0.62% to 3,927.19 and KOSPI added 11.64 points or 0.28% to 4,111.69. On the other hand, Hang Seng declined 272.08 points or 1.05% to 25,813.00, Nikkei 225 slipped 116.87 points or 0.23% to 50,375.00 and Straits Times was down by 10.3 points or 0.23% to 4,521.06.
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