The Indian stock market opened on a resilient note this Thursday, showcasing stability despite mixed global cues. As of 09:30 AM, the benchmark indices were trading in the green, signalling that the bulls are keen to hold their ground at these elevated levels.
The BSE Sensex opened marginally higher, climbing 32.81 points or 0.04 percent to trade at 85,139.62. Mirroring this sentiment, the NSE Nifty nudged up by 9.70 points or 0.04 percent, sitting comfortably at 25,995.70.
While the headline indices remained positive, the broader market breadth reflected a tussle between buyers and sellers. Approximately 1,253 shares advanced, showing healthy buying interest, while 1,505 shares declined, and 158 remained unchanged.
(Source:BSE, NSE| 09:30 AM IST)
Macro View: Rupee Pressure vs. GDP Optimism
While equities held steady, the currency desk witnessed some turbulence. The Indian Rupee opened 22 paise lower at 90.41 against the US dollar. The slide is attributed to persistent equity outflows and lingering uncertainty regarding the India-US trade deal.
However, domestic sentiment received a boost from Kotak Mahindra AMC. Deepak Agrawal of Kotak highlighted a 50 percent probability of a 25 bps rate cut in the policy decision to be announced tomorrow. Furthermore, there is an expectation that the RBI may revise its FY26 GDP growth forecast to above 6.8 percent, underscoring the underlying strength of the Indian economy.
(Source: Moneycontrol)
The Big Story: Putin in Town, Defence Stocks on Alert
All eyes are on New Delhi today as Russian President Vladimir Putin is scheduled to arrive at roughly 4:30 PM. This marks his first visit to India in four years, a significant event for geopolitical watchers and investors alike.
The market is buzzing with anticipation regarding potential defence deals. Discussions are expected to centre on the S-500 Prometheus missile system, the next-generation successor to the S-400. Consequently, defence manufacturing stocks are likely to see heightened activity as traders price in the possibility of new procurement contracts and expedited delivery of pending hardware.
(Source: livemint, Moneycontrol)
Corporate Action: Orders, Earnings, and Expansions
Several companies are making waves in early trade due to significant order wins and strategic shifts.
- Reliance Industries (Sports Vertical): Reliance Strategic Business Ventures (RSBVL) is expanding its global cricket footprint. The subsidiary acquired a 49 percent stake in the Oval Invincibles (The Hundred) for GBP 60.27 million. In a major rebranding move, both the men’s and women’s teams will be known as MI London from 2026.
- Rail Vikas Nigam (RVNL): Secured a ₹145.34 crore order from Southern Railway for traction substations in the Salem division.
- RailTel Corp: Bagged a work order worth ₹48.78 crore from the Mumbai Metropolitan Region Development Authority (MMRDA).
- JK Cement: Successfully commissioned a new clinker Line-2 at its Panna plant, doubling capacity from 3.30 MnTPA to 6.60 MnTPA.
- Petronet LNG & ONGC: A massive collaboration is underway. Petronet has signed a 15-year binding term sheet with ONGC for ethane handling at Dahej, Gujarat. ONGC will reserve a capacity of approximately 600 KTPA.
- Pace Digitek: Its subsidiary, Lineage Power, won a ₹99.71 crore order for battery energy storage systems from Advait Greenergy.
- Mukka Proteins: The JV secured a ₹474.89 crore contract for legacy waste treatment in Bengaluru.
Earnings & Finance
- Pine Labs: Reported a turnaround in Q2, posting a profit of ₹5.97 crore compared to a loss of ₹32 crore last year. Revenue climbed 17.8 percent to ₹650 crore.
- Nectar Lifesciences: Announced a share buyback of up to ₹81 crore at ₹27 per share, with the record date set for December 24.
(Source: livemint, Moneycontrol)
Stock Spotlight: Indian Energy Exchange (IEX)
IEX is trading with a positive bias, up nearly 0.19 percent (10.23 AM, Dec 4, 2025), driven by robust operational data. The exchange recorded a monthly electricity traded volume of 11,409 MU in November 2025, a solid 17.7 percent YoY growth.
Why the Optimism?
- Volume Surge: The double-digit growth signals a sustained recovery in demand.
- Winter Demand: Early winter load pickup and industrial activity are driving short-term power market participation.
- Liquidity: Improved participation from Discoms is aiding better price discovery.
(Source: CNBC-TV-18)
Investment Flows: Bulk Deals
Significant money changed hands in the block deal window:
- National Highways Infra Trust: Nitro Asia Holdings acquired a 10.1 percent stake for ₹2,905.2 crore. Meanwhile, CPP Investment Board entities trimmed their stakes.
- Uflex: First Water Fund purchased an additional 0.4 percent stake (3 lakh shares) at ₹477 per share.
(Source: Moneycontrol)
The Bottom Line
While global headwinds persist, the Indian market is finding support from strong domestic order flows and optimism surrounding high-profile diplomatic visits. While the Rupee’s slip past 90 and persistent foreign selling are flashing signals of caution, the upgraded GDP forecasts and a flurry of corporate order wins are providing a strong safety net for the bulls.
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