Stock Market LIVE: Sensex Down 120 Points, Nifty Below 25,200 as Media, Pharma, PSU Bank Stocks Drag
Sensex and Nifty traded lower on Tuesday amid selling in media, pharma, and PSU bank stocks. MCX and Tata Chemicals gained, while Dr Reddy’s, Maruti Suzuki, and Axis Bank dragged indices lower.
Stock markets open lower on Tuesday as Sensex dips over 100 points and Nifty slips below 25,200 amid sectoral weakness.
Domestic equity markets traded lower in Tuesday’s morning session as selling pressure in media, pharma, PSU bank, and consumer durable stocks weighed on sentiment. At 11:03 AM, the Sensex slipped 121 points to 82,205, while the Nifty50 fell 31 points to 25,196.
Out of the total shares traded, 1,262 advanced, 2,261 declined, and 137 remained unchanged, indicating weak market breadth.
🔻 Sectoral & Stock Performance
On the Nifty, top gainers included ONGC, HCL Technologies, Infosys, Tech Mahindra, and Bharat Electronics, while Dr Reddy’s Labs, Maruti Suzuki, Axis Bank, Tata Motors, and Bajaj Finance were among the key losers.
Sector-wise, media, pharma, PSU banks, telecom, and consumer durables declined around 0.5%, whereas energy, oil & gas, and metals saw modest gains of 0.3% each.
📈 Key Stock Highlights
MCX India surged 5% to ₹9,389.75 after the exchange raised the initial margin on all gold contracts to 7% from 6%, hitting a fresh 52-week high of ₹9,457.45.
JD Cables gained 1.3% after announcing the purchase of land and a building in Hooghly for ₹10.45 crore, and placing machinery orders worth ₹5.72 crore for its conductor division.
Tata Investment Corporation shares adjusted to a 1:10 stock split, leading to a technical 90% drop in share price — a routine adjustment following corporate action.
Tata Chemicals rallied 3.2% to ₹939.70, its best gain in 11 weeks, amid higher trading volumes.
Just Dial slipped after Nuvama maintained a buy rating but trimmed its target price to ₹1,200, citing a weak Q2 performance and lower profitability outlook.
🏗️ Corporate Developments
Prestige Group launched its latest residential project, Prestige Garden Trails, in Dahisar–Mira Road, Mumbai, with a GDV of ₹2,000 crore.
Tata Electronics acquired the Indian unit of Chinese iPhone supplier Justech for around USD 100 million, strengthening its local manufacturing base.
Oil India signed a 15-year gas supply deal with NEEPCO for its Assam-based power plant, while completing the Numaligarh–Siliguri pipeline upgrade project.
Tata Motors Passenger Vehicles listed at ₹400 per share following the demerger of its commercial vehicle business.
Eicher Motors’ Chief Growth Officer (EVs), Mario Alvisi, resigned effective December 31, 2025, as the company restructures its electric vehicle division.
💹 IPO & Listing Buzz
LG Electronics India made a strong market debut, listing 50% higher at around ₹1,710 versus its issue price of ₹1,140. Experts recommend partial profit booking with a stop-loss near ₹1,400 amid high volatility.
💰 Currency & Macro Watch
The Indian rupee traded slightly lower at ₹88.78 per USD, compared to Monday’s close of ₹88.67. Meanwhile, a government panel proposed allowing up to 49% FDI in nuclear power to boost capacity to 100 GW by 2047.
