Indian equity benchmarks extended their losing streak on Monday, December 29, closing in negative territory as muted trading activity and a lack of decisive triggers led to cautious investor sentiment. The subdued session hinted at a phase of near-term consolidation for the markets.
Benchmark Indices See Continued Decline
The BSE Sensex dropped 345.91 points, or 0.41%, settling at 84,695.54. This marked the index's fourth straight session of losses. Similarly, the NSE Nifty 50 fell by 100.20 points, or 0.38%, to close at 25,942.10, registering its third consecutive day of decline.
Following a weak opening, the Nifty 50 gradually lost ground throughout the trading day, finally ending near its daily low. The overall market breadth was negative, with most sectoral indices mirroring the weakness of the frontline gauges.
Sectoral Performance and Market View
Sector-wise, Information Technology (IT), realty, and auto stocks emerged as the top laggards. The broader markets, represented by mid-cap and small-cap indices, also faced selling pressure, declining between 0.6% and 0.8%.
"Market sentiment continues to be guided by global cues and stock-specific developments," noted Ajit Mishra, SVP of Research at Religare Broking. "Trading volumes remained light, with participants preferring selective exposure rather than broad-based positions in the absence of any major triggers."
Stocks to Watch on Dalal Street
Amid the overall market weakness, several individual stocks are likely to see action based on recent corporate developments.
Bharat Electronics Ltd (BEL): The Navratna defence public sector unit announced it secured additional orders worth ₹569 crore since its last update on December 12, 2025. This order inflow signals growth and is expected to attract investor interest.
Arvind Fashions: The company revealed plans to acquire Flipkart India's entire 31.25% stake in its denim-focused subsidiary, which operates the Flying Machine brand. The transaction, valued at ₹135 crore, is anticipated to enhance the company's long-term capacity and revenue.
Honasa Consumer: Promoter Varun Alagh increased his holding in the parent company of Mamaearth by 57 basis points, purchasing approximately 18.52 lakh shares via a bulk deal. This move is viewed positively by the market.
Rail Vikas Nigam Ltd (RVNL): The state-owned firm has been declared the lowest bidder for an East Coast Railway project. The contract involves setting up a 200-wagon POH workshop at Kantabanji, valued at ₹201.23 crore (excluding GST), with an 18-month execution period.
Cupid Ltd: The company's board gave in-principle approval to set up a new FMCG manufacturing plant in Saudi Arabia. This expansion aims to deepen its presence in the KSA and wider GCC markets, indicating long-term growth prospects.
Grasim Industries: Its board approved a scheme to transfer the renewable energy business of Essel Mining to its subsidiary, Aditya Birla Renewables, via a slump sale, adhering to Income Tax rules.
Timex Group: The promoter, Timex Group Luxury Watches BV, exercised the oversubscription option in its ongoing offer for sale (OFS) of equity shares.
Waaree Energies: The company announced the resignation of CEO Amit Paithankar. The board has accepted his resignation and appointed Jignesh Rathod as the new Chief Executive Officer.
Indian Overseas Bank (IOB): Received approval from the Reserve Bank of India (RBI) to set up an International Financial Services Centre (IFSC) banking unit at GIFT City in Gujarat.
NTPC Green Energy: Commenced commercial operations for the ninth segment (13.98 MW) of its 1,255 MW Khavda-I Solar PV project under NTPC Renewable Energy.
Disclaimer: This article is for informational purposes only. Readers are advised to consult with a certified investment advisor before making any financial decisions.
