Indian equity markets wrapped up Tuesday’s session on a steady yet selective note, with the Nifty 50 managing to hold its ground despite muted headline movement. While broader indices traded in a narrow range, sectoral leadership from media, metals, and FMCG stocks helped offset weakness in information technology names. Heavyweights such as Coal India, Shriram Finance, and ITC provided crucial support to the benchmark, ensuring stability even as investors remained cautious ahead of global cues and year-end positioning.
Coal India Steals the Limelight with IPO Buzz
The star performer of the day was undoubtedly Coal India, which surged by 3.73% to close at approximately ₹401. The primary catalyst behind this spike is the growing anticipation surrounding its Maharatna subsidiary, Bharat Coking Coal Limited (BCCL).
Market reports suggest that BCCL is gearing up to launch a ₹1,300 crore IPO within the next fortnight. This move is widely viewed by analysts as a strategic value-unlocking exercise. It aligns perfectly with the central government’s ongoing agenda to monetise state-owned assets. The optimism surrounding this divestment has significantly pumped investor sentiment, making Coal India the standout gainer of the session.
(Source: The Economic Times)
Nifty 50 Gainers: A Defensive Shield
Despite a cautious start, bargain hunting in core sectors helped the NIFTY 50 inch higher by 0.02%, settling at 26,177. The following stocks led the charge:
- Coal India: Surged 3.73% driven by BCCL IPO news.
- Shriram Finance: Advanced 2.42%.
- ITC: Gained 1.53%, leading the FMCG pack.
- UltraTech Cement: Rose 1.30% following merger announcements within the group.
- Tata Motors Passenger Vehicles (TMPV): Ticked up 0.96% in a selective auto rally.
(Source: NSE)
Sectoral Highlights: Media and Metals Lead the Way
Sectoral performance was a mixed bag, with defensive and commodity-linked sectors outshining growth-oriented ones.
- NIFTY Media (+0.80%): Emerged as the top-performing sector, supported by strong volumes in Network 18.
- NIFTY Metal (+0.54%): Remained in the green as Hindustan Copper and Hindustan Zinc hit fresh 52-week highs.
- NIFTY FMCG (+0.52%): Provided stability, with ITC playing a pivotal role.
In contrast, the IT index was the major underperformer, falling nearly 0.80% as investors locked in profits after recent rallies.
(Source: NSE)
Corporate Moves: Mergers and Expansions
The session was marked by significant corporate developments that triggered stock-specific action.
- Cement Consolidation: Shares of Ambuja Cements (+1.25%) and Orient Cement (+4.18%) advanced after Ambuja’s board approved the merger of its subsidiaries, ACC and Orient Cement, into the parent entity. This consolidation aims to create a pan-India powerhouse and improve margins by at least ₹100 per metric tonne.
- Infrastructure Wins: L&T secured a massive hydrocarbon order from BPCL worth up to ₹10,000 crore. Additionally, Puravankara shares moved up by 19% after acquiring a 53-acre land parcel in Bengaluru with a projected development value of ₹4,800 crore.
- Railway Rebound: The “Railway Track” stayed bullish for a third straight day. IRCON jumped 8%, while RVNL and IRFC rose by 2.83% and 3.76% respectively.
- Ola Electric: The stock remained in the spotlight after expanding its Hyperservice initiative. The stock touched an intraday high of ₹36.10 and closed with a modest gain of 0.26%.
(Source: Moneycontrol, Economic Times)
The Global Tailwinds: Federal Reserve and Gold
The broader market continues to find a cushion in global cues. Whispers of another quarter-point rate cut from the U.S. Federal Reserve as early as January 2026 have kept bullish hopes alive. A lower U.S. policy rate generally improves global risk appetite, making emerging markets like India a natural beneficiary for foreign capital inflows.
Meanwhile, the safe-haven trade reached fever pitch. Gold touched a historic record on Tuesday, nearing the $4,500 per ounce mark. Similarly, silver extended its record-breaking run, surging 142% year-to-date on the back of industrial demand and global geopolitical uncertainty.
(Source: Reuters)
Technical Outlook: Holding Above Support
From a technical perspective, the Nifty managed to stay above its key support zone of 26,000 to 26,100. However, the index still trades below its short-term moving averages, including the 21-day DMA (26,012) and 50-day DMA (25,874). Traders are closely watching the 200-day DMA at 24,842 as the ultimate base for the current bull cycle.
The Indian rupee remained remarkably stable, closing flat at 89.66 per dollar, neutralising year-end rebalancing pressures.
(Source: Investing.com)
IPO Activity
Oyo’s parent company, Prism, received shareholder approval for its ₹6,650 crore IPO. Meanwhile, KSH International’s shares listed at a discount and slipped further, reflecting cautious investor sentiment.
(Source: Economic Times)
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