The Indian equity markets commenced the final week of the year on a cautious yet positive note. As of 9:21 AM on December 29, 2025, the BSE SENSEX was trading at 85,070.21, marking a marginal gain of 28.76 points (0.034%). Simultaneously, as of 9:22 AM IST on December 29, 2025, the NIFTY 50 index edged up by 9.40 points (0.036%) to stand at 26,051.70. While the indices remained largely flat, specific sectoral strengths provided a boost, with metal stocks HINDALCO and TATASTEEL emerging as the primary leaders in early trade.
(Source: NSE)
Morning Market Dynamics: Top Gainers and Global Cues
The early session on December 29, 2025, witnessed selective risk taking across Indian equities. Despite a flat start for the broader benchmarks, the metal sector showed significant momentum. Reflecting this strength, the Nifty Metal index was trading at 10,957.65, up 151.50 points or 1.40 percent, as of 10:05 AM. The rally highlighted strong buying interest in metal stocks, with the following counters emerging as top performers.
Top Nifty Gainers
| Stock Name | Open (₹) | High (₹) | LTP (₹) | % Change |
|---|---|---|---|---|
| Hindalco | 886.00 | 887.45 | 884.80 | 1.36% |
| Tata Steel | 169.51 | 171.31 | 171.20 | 1.23% |
| TMPV | 358.50 | 362.80 | 362.00 | 0.89% |
| BEL | 401.00 | 402.55 | 401.40 | 0.74% |
| Eternal | 281.50 | 283.80 | 283.45 | 0.60% |
(The data is compiled as of 9.23 AM)
Asian markets presented a mixed bag of cues. Japan’s Nikkei traded marginally lower, while South Korea’s KOSPI showed better performance. Subdued volumes are expected throughout the week due to year-end holiday positioning. Furthermore, persistent selling by Foreign Institutional Investors (FIIs) and global macro uncertainties continue to act as a ceiling for the markets, though steady domestic inflows offer a sturdy floor.
(Source: NSE, Moneycontrol)
Macroeconomic Outlook and Corporate Heavyweights
Rating agency ICRA has projected India’s GDP growth to improve to 7.4% in FY2026, a significant rise from the 6.5% seen in FY2025. However, the agency warned that growth might moderate in the second half of the fiscal year. On the reserves front, the Reserve Bank of India (RBI) reported on Friday that India’s forex reserves jumped by USD 4.368 billion to reach USD 693.318 billion for the week ended December 19.
(Source: Moneycontrol, BBC)
Major Corporate Developments to Watch
Several stocks are in the spotlight today due to significant deal-making and management changes:
- Coforge: The company has entered a definitive agreement to acquire 100% of Encora for ₹17,032.6 crore ($2.35 billion). To fund this, the board approved a Qualified Institutional Placement (QIP) of up to $550 million.
- Vedanta: Declared the successful bidder for the Depo Graphite-Vanadium block, strengthening its critical minerals portfolio.
- Manappuram Finance: Announced an additional investment of ₹250 crore in its subsidiary, Asirvad Micro Finance, and appointed Buvanesh Tharashankar as the Group CFO.
- VA Tech Wabag: Secured a ‘Large’ repeat order (valued between ₹250 to 600 crore) from the Saudi Water Authority for a 50 Million Litres per Day (MLD) Reverse Osmosis plant.
- NBCC (India): Reached a settlement with the Delhi Government to divide 42.46 acres of land in Ghitorni equally, granting NBCC a 21.23-acre share for development.
- Titan Company: The brand beYon from the House of Titan makes its debut today in Mumbai. This move signals Titan’s strategic entry into the lab grown diamond segment, aimed at catering to the lifestyle needs of modern women.
(Source: Moneycontrol, The Economic Times)
Sectoral Updates and Leadership Transitions
In the energy and infrastructure space, Solarworld Energy Solutions bagged a ₹725.33 crore EPC project from NTPC Renewable Energy. Diamond Power Infrastructure received a letter of intent for power cables worth ₹66.18 crore, while Avantel secured a ₹4.16 crore contract from the Ministry of Defence.
Leadership changes are also influencing sentiment. At Suzlon Energy, Vivek Srivastava resigned as CEO of the WTG Division effective December 26. Similarly, Akums Drugs and Pharmaceuticals saw the resignation of Rajkumar Bafna, President of Finance, effective December 31. At Sigachi Industries, Deputy Group CEO Lijo Stephen Chacko has taken over daily operations following the remand of the current MD on December 27.
(Source: Moneycontrol, The Economic Times)
Consolidation and Bulk Deals
The market is also reacting to an open offer for Stylam Industries by Aica Kogyo Company, seeking a 26% stake (44.06 lakh shares) at ₹2,250 per share, totaling ₹991.46 crore. In bulk deals, WhiteOak Capital Mutual Fund acquired 1.17 crore units of Roadstar Infra Investment Trust for ₹70.5 crore.
As the year draws to a close, investor attention is centred on metal stocks, major corporate developments, and the upcoming IPO of Modern Diagnostic and Research Centre, opening for subscription on December 31.
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