Media, FMCG and PSU Bank shares advanced while consumer durables, IT and realty shares declined.

As per provisional closing data, the barometer index, the S&P BSE Sensex declined 345.91 points or 0.41% to 84,695.54. The Nifty 50 index lost 100.20 points or 0.38% to 25,942.10.

The broader market underperformed the frontline indices. The S&P BSE Mid-Cap index shed 0.45% and the S&P BSE Small-Cap index fell 0.58%.

The market breadth was weak. On the BSE, 1,579 shares rose and 2,730 shares fell. A total of 212 shares were unchanged.

In the foreign exchange market, the rupee edged lower against the dollar. The partially convertible rupee was hovering at 89.9725 compared with its close of 89.9000 during the previous trading session.

Economy:

The Index of Industrial Production (IIP) grew 6.7% year-on-year in November, compared with a 0.4% expansion in October, marking a two-year high in factory output. Growth was led by the manufacturing sector, which expanded 8%, driven by higher production of basic and fabricated metal products, pharmaceuticals, and motor vehicles. Improved performance in the mining sector also supported the overall rise in IIP, with output increasing 5.4% in November compared with a contraction of 1.8% in October.

Buzzing Index:

The Nifty Consumer Durables index declined 0.91% to 36,487.40. The index rose 0.34% in the past trading session.

Dixon Technologies (India) (down 3.93%), Amber Enterprises India (down 2.35%), Blue Star (down 1.98%), PG Electroplast (down 1.25%) and Kalyan Jewellers India (down 1.1%), Century Plyboards (India) (down 0.97%), Bata India (down 0.96%), Cera Sanitaryware (down 0.79%), Crompton Greaves Consumer Electricals (down 0.74%) and Kajaria Ceramics (down 0.44%) declined.

Stocks in Spotlight:

Larsen & Toubro (L&T) shed 0.26%. The company announced that its transportation infrastructure business vertical has secured a significant order for Hyderabad Greenfield Radial Road.

Coforge rose 0.22%. The company said that it has signed definitive agreements to acquire Encora, an AI native firm born in the Silicon Valley with deep strengths across AI driven engineering underlaid by Cloud and Data.

Siyaram Recycling Industries added 1.55% after the company has secured a significant order from The Supreme Industries, Jalgaon (F) – MDP, for the supply of 1/2" female insert (new modified) and female insert 1/2" CPVC/aqua topper.

Ceigall India gained 2.91% after the company’s subsidiary, Ceigall Infra Projects has received a LoA from Madhya Pradesh Road Development Corporation for the construction of the Indore–Ujjain access-controlled four-lane greenfield highway.

Vikran Engineering rose 2.23% after it has secured letter of awards (LoA) from M.P. Urja Vikas Nigam for the implementation of power plants with a total capacity of 45.75 MW AC in Vidisha, Madhya Pradesh.

Jindal Steel rose 0.50%. The company announced a significant expansion of its structural steel manufacturing capabilities at its Raigarh facility. This expansion would double the company’s existing structural steel capacity from 1.2 million tonnes per annum (MTPA) to 2.4 MTPA by mid 2028.

VA Tech Wabag declined 1.62%. The company has received a letter of award from the Saudi Water Authority for a large repeat EPC order to build a 50 MLD advanced BWRO plant at Aljouf, Saudi Arabia.

Solarworld Energy Solutions climbed 4.11% after the company announced that it has received a letter of award for the EPC package for the development of a 250 MWac grid-connected solar PV project worth Rs 725.33 crore from NTPC Renewable Energy.

Global Markets:

European market declined, while most Asian markets ended higher on Monday as investors kicked off the final trading week of the year.

Prices of spot silver rose to a fresh record high of above $80 per ounce before pulling back sharply to $77. Silver’s recent surge was driven by speculative buying and lingering supply tightness, said experts.

Media report further stated silver’s rally this year reflects a depletion of freely traded inventory, amplifying price moves as demand increases.

On Friday stateside, the S&P 500 reached a new high and posted weekly gains as traders came back from the Christmas holiday.

The broad market index closed down 0.03% to end at 6,929.94. At its high, the S&P 500 was up 0.2%, reaching 6,945.77. The Nasdaq Composite slipped 0.09% and closed at 23,593.10. The Dow Jones Industrial Average fell 20.19 points, or 0.04%, and settled at 48,710.97.