Benchmark stock indices Sensex and Nifty declined for the third straight day on Wednesday (December 10) to close at a nearly month’s low, dragged by a last-hour selloff in consumer durables, private banks and IT shares.

In a volatile session, the 30-share BSE Sensex dropped by 275.01 points, or 0.32%, to settle at 84,391.27, a level not seen since November 11. During the day, it hit an intraday high of 85,020.34 and a low of 84,313.62.

The 50-share NSE Nifty fell by 81.65 points, or 0.32%, to close at a month’s low of 25,758. In the intraday session, it hit a high of 25,947.65 and a low of 25,734.55.

Among the Sensex constituents, Eternal, Trent, Bharti Airtel, Infosys, Tech Mahindra, UltraTech Cement, ICICI Bank, HDFC Bank, Bajaj Finance, Tata Consultancy Services, Bharat Electronics Ltd, Larsen & Toubro and Tata Motors Passenger Vehicles were the laggards.

However, Tata Steel, Sun Pharmaceuticals, ITC, NTPC, Reliance Industries, HCL Technologies, PowerGrid, and Asian Paints were among the gainers.

“Indian markets mirrored global caution, weighed down by persistent FII outflows, INR weakness, and uncertainty surrounding US-India trade negotiations despite ongoing discussions. In the near term, market direction will be influenced by central bank cues and clarity on trade developments,” Vinod Nair, Head of Research, Geojit Investments Ltd, said.

In Asian markets, Shanghai’s SSE Composite index, Japan’s Nikkei 225, and South Korea’s KOSPI settled lower while Hong Kong’s Hang Seng finished in the green territory.

Nair added that global equity markets experienced continued volatility due to rising Japanese bond yields and indications of Bank of Japan monetary tightening, which are fostering risk-off sentiments in emerging markets.

“Focus now shifts to the upcoming U.S. Fed meeting, where a 25 basis points rate cut is widely expected. However, internal divisions and mixed economic indicators may temper expectations for further rate cuts in 2026,” he said.

European markets are broadly trading lower. Wall Street broadly ended lower in overnight deals on Tuesday.

Meanwhile, Foreign Institutional Investors (FIIs) remained the net sellers of equities worth ₹3,760.08 crore on Tuesday (December 9), while Domestic Institutional Investors (DIIs) bought stocks worth ₹6,224.89 crore.

Brent crude, the global oil benchmark, slipped 0.03 per cent to $61.92 per barrel.

On Tuesday (December 11), the 30-share BSE Sensex dropped 436.41 points to close at a nearly two-week low of 84,666.28. The 50-share NSE Nifty dropped by 120.90 points to settle at 25,839.65.

Published – December 10, 2025 04:43 pm IST

Benchmark equity indices Sensex and Nifty tumbled in early trade on Wednesday. File
| Photo Credit: PTI

Benchmark equity indices Sensex and Nifty tumbled in early trade on Wednesday (September 4, 2024) after a record-breaking rally, tracking extremely weak trends from the global markets.

The 30-share BSE Sensex tumbled 721.75 points to 81,833.69 after a weak beginning to the trade. The NSE Nifty tanked 196.05 points to 25,083.80.

Among the 30 Sensex firms, JSW Steel, Infosys, Larsen & Toubro, State Bank of India, Tata Steel, Mahindra & Mahindra, Bharti Airtel and Axis Bank were the major laggards.

Asian Paints, Bajaj Finserv, Bajaj Finance, and Hindustan Unilever were the gainers.

In Asian markets, Seoul, Tokyo, Shanghai, and Hong Kong were trading sharply lower.

The U.S. markets ended significantly lower on Tuesday (September 3, 2024).

“The selloff in U.S. markets yesterday (Tuesday) was triggered by growth concerns. There are indications of U.S. manufacturing moving into contraction, thereby threatening the soft landing expectation, which has been the pillar of support for the mother market U.S. and consequently for other markets, too,” said V K Vijayakumar, Chief Investment Strategist, Geojit Financial Services.

Halting its 10-day rally on Tuesday, the BSE benchmark dipped 4.40 points or 0.01% to settle at 82,555.44. The Nifty, however, eked out a marginal gain of 1.15 points to settle at 25,279.85, its highest-ever closing level.

In the 10-day rally, the BSE benchmark spurted 2,135 points, or 2.61%. Nifty has surged nearly 1,141 points or 4.59% in 14 straight days.

According to exchange data, Foreign Institutional Investors (FIIs) bought equities worth ₹1,029.25 crore on Tuesday. Global oil benchmark Brent crude declined 0.61% to $73.30 a barrel.

State Bank of India (SBI)‘s market capitalisation crossed the ₹8 lakh crore mark on June 3. File
| Photo Credit: Reuters

The market capitalisation of the State Bank of India (SBI) crossed the ₹8 lakh crore mark on June 3 after the bank’s shares surged to a record high of ₹907.

SBI is now the third-largest bank in India by market cap, very close to ICICI Bank which is second largest. The bank’s market cap milestone was reached as shares rose over 9% during a rally in the stock market, hitting an all-time high of ₹909. Notably, SBI’s shares have increased by more than 50% in the last six months.

Finance Minister Nirmala Sitharaman has recently posted on social media that India’s banking sector has achieved a significant milestone by recording its highest-ever net profit, exceeding ₹3 lakh crore. She also emphasized that the government will take decisive steps to further strengthen the banking sector.

Insolvency and Bankruptcy Code introduced by the government has improved the financial conditions of Indian banks, with a recovery of ₹10 lakh crore of bad loans. “Between 2014 and 2023, banks recovered more than ₹10 lakh crores from bad loans,” she said.

The Nifty Bank index also surged to a record high on June 3, crossing the 50,000 mark for the first time. The Nifty index touched a new high of 50,990, with all banking stocks in the index trading with gains at the time of filing this report.

In the recently released quarterly results, the State Bank of India has reported a standalone net profit of ₹20,698.35 crore, which was 24% year-on-year (Y-o-Y), on the back of higher interest income and low provisions. State Bank of India has reported a 15.24% year-over-year (YoY) credit growth at the end of March 2024.

Domestic advances have grown by 16.26% and corporate advances and agriculture advances grow by ₹11 lakh crore and ₹3 lakh crore, respectively (YoY). Foreign Offices’ advances grew by 9.47%, while retail personal advances and corporate loans registered YoY growth of 14.68% and 16.17%, respectively (YoY).

Whole Bank Deposits grew at 11.13%(YoY), out of which CASA Deposit grew by 4.25% (YoY). CASA ratio stands at 41.11% as of 31st March 2024.

The impressive performance of SBI and the overall banking sector highlights the investor confidence and the positive outlook for India’s banking sector. The recovery of bad loans and the government’s supportive measures have played crucial roles in strengthening the financial stability of banks, contributing to their recent achievements in market capitalization and net profit.