Top Gainers and Losers on December 3rd: Market Continues Downward Trend for the Fourth Day, with PSU Banks, Angel One, and Ola as the Most Affected Stocks

On Wednesday, December 3rd, the Indian stock market recorded a slight loss, thus it already had four consecutive days of losses. The weakening rupee, the foreign investors' selling which seemed to never end and intense selling pressure across all sectors were the main causes for this decline, which was also reflected in the late recovery session of both benchmark indices.

markets fell lower despite an intraday recovery

The Nifty 50 lost 0.18% closing at 25,958, while the Sensex weakened 0.05% to 85,091.

The broader markets were even more negatively impacted:

Nifty Midcap 100 decreased by 1%,

Nifty Smallcap 100 had a 0.71% loss.

The last week's record highs have been followed by a steady profit-booking scenario for both Nifty and Sensex. The currency issues made the situation worse for the bulls and pushed the indices down from their lifetime peaks by 1.3% and 1.2%, respectively.

rupee becomes the worst among Asian currencies; however, it is still the same issue

The Indian rupee being one of the greatest causes for the market discomfort dropped to 90.30 per dollar marking a 0.36% decline and hitting the record low on that day.

The day after it was reported a 5.41% yearly decline of the rupee which consequently gave it the title of the worst of all Asian currencies, with almost no action from the RBI and no breakthrough on the India-US trade talks.

the slow death of the sector: public sector banks take the biggest cut

The overall trend in the market was reflected in the price movements of all major sectoral indices, which ended red.

Among the biggest losers were:

Nifty PSU Bank: -3% (quickest fall)

Nifty Consumer Durables

Nifty Auto

Nifty FMCG

Nifty Realty

Nifty Oil & Gas

Nifty Chemicals

Nifty Metal (down 0.50%-1.20%)

The investors have now shifted their focus to the RBI policy announcement slated for Friday, and there are speculations that the strong GDP numbers might persuade the central bank to keep rates unchanged.

public sector banking crash after government clarification on FDI

After the government’s strong denial of any proposal to raise the foreign investment limit in public sector banks, the stocks of the public sector banks came under the most intense selling pressure.

indian bank, the most affected

Indian Bank's stock plummeted by 5.4% to ₹812.8, making it the worst performer among Nifty 500 stocks.

After Minister of State for Finance Pankaj Chaudhary's statement in the Rajya Sabha that the government is not at all considering raising the FDI cap to 49% or any other level for the time being, the selling pressure intensified.

Other leading public sector banks—

PNB, Canara Bank, Bank of India, Bank of Baroda, and Union Bank—were also affected and saw their stocks dip by 3% to 4.5% during the day.

Among the top losers were Angel One, Ola Electric, CDSL, and BSE

Angel One Slumps 5%

Angel One, after receiving an underwhelming October update, continued to disappoint investors, losing 5% and reaching a price of ₹2,670.

Ola Electric Hits a Fresh Low

Ola Electric's downfall continued as shares decreased by 5% to ₹38, the lowest price since the IPO and representing a decline of more than 40% from the staff's peak in September.

Other major losers

Transformers and Rectifiers: -4.5%

Solar Industries: -3.55% to ₹12,835, now 27% below its April 2025 highs

Aavas Financiers, BSE, LT Foods, Saregama India, JSW Energy, Timken India, Bharat Dynamics, HFCL, CDSL—all down 2%–4%

Investor Caution towards RBI Policy Slump Affects Market Sentiment

The weakening of the rupee, poor global risk sentiment and heavy selling pressure from FPIs all made the market cautious. Traders are now closely watching the RBI's policy decision, which, according to them, may set the market tone for the rest of the month.