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EQUITY
Key gauges end lower for second consecutive day
Dec-26-2025

Indian equity benchmarks ended lower for second consecutive day on Friday due to foreign fund outflows and lack of any major domestic triggers. Foreign institutional investors offloaded equities worth Rs 1,721.26 crore on Wednesday, according to exchange data.

Some of the important factors in trade:

India's goods and services exports may grow by 3% to $850 billion in FY26: Global Trade Research Initiative (GTRI) has said that India's goods and services exports are expected to rise by 3% to $850 billion in FY26. In FY25, the overall exports touched $825 billion ($438 billion in merchandise and $387 billion in services). 

India to replace old income tax regime with simplified one in coming year: With focus shifting towards customs duty rationalisation and procedural simplification in the coming Budget, India has overhauled its tax regime in 2025 with sharp cuts in Goods and Services Tax (GST) rates and a higher income tax exemption limit. 

QCI unveils next-generation quality reforms to strengthen India’s quality ecosystem: The Quality Council of India (QCI) has unveiled a comprehensive set of next-generation quality reforms, designed to strengthen India’s quality ecosystem and advancing the national vision of Viksit Bharat 2047.

Rupee falls against US Dollar: Indian rupee depreciated against the US dollar on Friday, tracking a negative trend in domestic equities and foreign fund outflows.

Global front: European markets were closed for the Boxing Day holiday. Asian markets settled mostly higher. Japan's government revised its economic forecast for the fiscal year to next March. It is believed that a record $785 billion budget unveiled for the next fiscal year will boost consumption and capital expenditure.

Finally, the BSE Sensex fell 367.25 points or 0.43% to 85,041.45 and the CNX Nifty was down by 99.80 points or 0.38% to 26,042.30.       

The BSE Sensex touched high and low of 85,378.51 and 84,937.82 respectively. There were 6 stocks advancing against 24 stocks declining on the index.

The broader indices ended in red; the BSE Mid cap index fell 0.18%, while Small cap index was down by 0.34%.

The top gaining sectoral indices on the BSE were Metal up by 0.47%, PSU up by 0.40% and Basic Materials up by 0.33%, while IT down by 0.89%, TECK down by 0.88%, Telecom down by 0.59%, Auto down by 0.54% and Capital Goods down by 0.54% were the top losing indices on BSE.

The top gainers on the Sensex were Titan Company up by 2.13%, NTPC up by 0.45%, Ultratech Cement up by 0.29%, Hindustan Unilever up by 0.12% and Axis Bank up by 0.11%. On the flip side, Bajaj Finance down by 1.48%, Asian Paints down by 1.41%, TCS down by 1.22%, Eternal down by 1.12% and Sun Pharma down by 1.05% were the top losers.

Meanwhile, Global Trade Research Initiative (GTRI) has said that India's goods and services exports are expected to rise by 3% to $850 billion in current financial year (FY26). In FY25, the overall exports touched $825 billion ($438 billion in merchandise and $387 billion in services).

It said India’s exports in 2026 will face a far tougher global trade environment than it has seen in years. It stated growing protectionism in developed countries, weakening global demand and new climate-linked trade barriers are colliding just as India is trying to scale up exports. 

GTRI founder Ajay Srivastava said the result is an outlook marked less by expansion and more by the challenge of holding ground. Srivastava said ‘In FY26, goods exports are likely to stay broadly flat, squeezed by weak global demand and renewed US tariff pressure, while services exports may inch past $400 billion. That would lift total exports to roughly $850 billion’.

CNX Nifty touched high and low of 26,144.20 and 26,008.60 respectively. There were 15 stocks advancing against 35 stocks declining on the index.    

The top gainers on Nifty were Titan Company up by 2.17%, Hindalco up by 0.99%, Nestle up by 0.82%, NTPC up by 0.53% and Cipla up by 0.51%. On the flip side, Asian Paints down by 1.40%, Shriram Finance down by 1.37%, Bajaj Finance down by 1.30%, TCS down by 1.27% and Tech Mahindra down by 1.16% and were the top losers.

Asian markets settled mostly higher in thin holiday trade on Friday tracking gains on Wall Street as Dow and S&P 500 finished Wednesday at record highs. Investors were also waiting for President Donald Trump to nominate a Fed chair to replace Jerome Powell, whose term ends in May. Japanese shares gained after Japanese PM Sanae Takaichi's cabinet approved a record $785 billion budget for the next fiscal year, aiming to strike a balance between her proactive fiscal policy and debt blowout concerns by limiting new bond issuance. Chinese shares marginally rose, supported by a firmer yuan after the currency strengthened beyond the psychological milestone of 7 per dollar in offshore trading for the first time since September 2024 on bets China's central bank would allow gradual appreciation of the currency to boost market confidence.

Asian Indices

Last Trade            

Change in Points

Change in %      

Shanghai Composite

3,963.68

4.06

0.10

Hang Seng

--

--

--

Jakarta Composite

--

--

--

KLSE Composite

1,677.10

-1.21

-0.07

Nikkei 225

50,750.39

342.60

0.68

Straits Times

4,636.15

-0.19

0.00

KOSPI Composite

4,129.68

21.06

0.51

Taiwan Weighted

28,556.02

184.04

0.65
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