Sensex, Nifty 50 Today (10 December 2025): Markets Range-Bound Ahead of US Fed; Meesho IPO Sizzles on Debut

Indian stock market benchmarks Sensex and Nifty 50 are spending Wednesday largely in a tight range as traders sit on their hands ahead of a crucial US Federal Reserve rate decision and the start of India–US trade talks.

As of around 1:00 pm IST , the BSE Sensex hovered near 84,504 (‑0.19%) and the Nifty 50 around 25,793 (‑0.18%) , giving up early gains from a value-buying-led bounce. ^[1]

Key takeaways from the Indian stock market today

• Indices flat to slightly negative: After opening mixed and briefly trading in the green, Sensex and Nifty have slipped marginally lower, extending the corrective phase after Tuesday’s ~0.5% decline. ^[2]
• Global event risk dominates: Traders are positioning cautiously ahead of the US Fed’s policy decision later tonight and the launch of India–US trade talks in New Delhi, which could shape risk appetite and tariff expectations. ^[3]
• Sectors: metals & autos up, IT & banks soft: Metals, realty and autos are seeing buying interest, while IT and banking names are largely on the back foot, keeping headline indices capped. ^[4]
• Big IPO action:Meesho has listed at about a 46% premium to its issue price, with a market cap above ₹72,700 crore, making it one of the day’s highest-profile movers. ^[5]
• Technical view stays cautious: Multiple brokerages flag stiff resistance near 26,000–26,300 on the Nifty and support around 25,700–25,300 , while Bank Nifty remains in a broader uptrend but stuck in a range. ^[6]
• Medium-term upside still intact: A fresh strategy note from Kotak Securities pegs a bull-case Nifty target of 32,032 by December 2026 , implying roughly 24% upside from current levels. ^[7]

Note:All index and stock levels mentioned are approximate and based on data available aroundmidday IST on 10 December 2025. They will change as trading continues.

1. How Sensex and Nifty 50 are trading today

After two sessions of declines, Wednesday started with a muted but slightly positive undertone on the Nifty and a mild dip on the Sensex.

• At the opening bell, Nifty 50 began near 25,864 , up about 0.09%, while the Sensex opened around 84,607 , down roughly 0.07%, reflecting mixed sentiment. ^[8]
• Within the first hour, value buying at lower levels pushed the Sensex as high as ~84,926 (+0.31%) and the Nifty to ~25,904 (+0.25%) , as investors hunted for bargains after two weak sessions. ^[9]
• By around 1:00 pm IST , much of that bounce had faded. Business Standard’s live blog shows Sensex at ~84,504 (‑162 points) and Nifty at ~25,793 (‑47 points) , both down about 0.2% on the day. ^[10]

This choppy pattern — early recovery, followed by intraday cooling — fits the “weak but range-bound” label many analysts are using for Indian equities this week. ^[11]

Catch-up from Tuesday’s close

On Tuesday, December 9 , the market slid ahead of the Fed:

• Sensex fell 436 points (‑0.51%) to 84,666.28 .
• Nifty 50 lost around 121 points (‑0.47%) to 25,839.65 , a near two-week low. ^[12]

Interestingly, mid- and small-caps outperformed on Tuesday, with BSE’s Midcap and Smallcap indices finishing +0.60% and +1.27% , respectively — a theme that has kept the broader market from looking outright bearish despite headline index pressure. ^[13]

2. Global cues: Fed, India–US trade talks and commodities

A big part of today’s hesitation comes from global macro crosswinds .

US Federal Reserve decision tonight

• Markets widely expect a 25 bps rate cut from the US Fed at its final policy meeting of 2025, but there’s nervousness around the tone of the guidance and the updated “dot plot” for 2026. ^[14]
• CME FedWatch-style probabilities referenced in local coverage point to an almost 90% chance of the 25 bps cut, but strategists warn of sharp differences within the Fed committee , which could lead to a more hawkish-than-expected message. ^[15]

US equities closed mostly softer overnight, with the Dow and S&P 500 edging down while the Nasdaq squeaked out small gains , dampened in part by cost warnings from financial heavyweights such as JPMorgan. ^[16]

India–US trade talks and tariffs

From today, negotiators from India and the US begin a three-day conversation in New Delhi aimed at advancing a long-delayed bilateral trade deal .

• The talks are seen as key for tariff relief on Indian exports and for resetting trade ties in a way that complements the strategic relationship and “China plus one” manufacturing shift. ^[17]
• Commentators note that uncertainty around the deal remains one factor behind recent foreign portfolio investor (FPI) caution towards Indian equities. ^[18]

Asia, dollar, gold, silver and crude

• Asian equities are mostly modestly higher but range-bound, mirroring the “wait-and-see” stance toward the Fed. Japan’s Topix and South Korea’s Kospi are in the green, while Hong Kong is softer and Australia is largely flat. ^[19]
• The US dollar index has firmed slightly, and 10-year US Treasury yields have ticked up, underscoring global preference for safety ahead of the Fed outcome. ^[20]
• Gold is hovering near record territory, while silver has pushed to historic highs near $60/oz , reflecting demand for haven assets and supply-tightness in silver. ^[21]
• Brent crude is trading just above $62 a barrel after another small dip, with traders balancing peace-talk headlines over Russia–Ukraine, ample supply and the Fed’s policy path. ^[22]

For India, softer oil and firm-but-not-surging US yields are mildly supportive, but the Fed event risk overrides most of these positives in today’s intraday flows.

3. Sector and stock movers: Metals shine, IT & banks drag

Sector snapshot (midday)

According to live updates, as of early afternoon :

• Nifty Metal is up about 1% , buoyed by optimism on global demand and continued domestic infrastructure spending.
• Realty and Auto indices are also higher, gaining roughly 0.8%–0.9% . ^[23]
• IT and Banking/Financials are broadly weaker, echoing risk-off positioning towards rate-sensitive and export-heavy pockets as investors await the Fed signal. ^[24]

Sensex & Nifty heavyweights

Mid-session commentary shows a split market among large caps: ^[25]

• Gainers:
  • Reliance Industries , Trent , Bajaj Finserv , Mahindra & Mahindra , UltraTech Cement , Adani Ports , Asian Paints , HCL Tech — offering support to the indices at various points in the morning.
• Losers:
  • Bharat Electronics (BEL) , Bharti Airtel , Titan , Sun Pharma , L&T and ICICI Bank have been among the notable drags, particularly as the market cooled off from early highs.

Market breadth has flipped around through the session, but by midday, both Nifty Midcap and Nifty Smallcap indices were modestly negative (around ‑0.24% to ‑0.39% ), a contrast to their strong outperformance on Tuesday. ^[26]

4. IPO & stock-specific action: Meesho steals the show

Meesho: blockbuster listing

SoftBank-backed e-commerce platform Meesho is today’s headline-grabber.

• Issue price: ₹111 per share (price band ₹105–111). ^[27]
• Listing:
  • NSE: ₹162.50 , about 46.4% above the issue price.
  • BSE: ₹161.20 , up 45.2% at debut. ^[28]
• Market cap at listing: roughly ₹72,752 crore , putting Meesho firmly in the large-cap bracket from day one. ^[29]
• Around 10:30 am, the stock had already extended gains to about ₹173–174 , with more than 2.3 crore shares changing hands. ^[30]

The listing reflects intensely strong IPO appetite — one of the reasons some strategists say secondary markets are facing a “liquidity overhang” as capital chases new issues. ^[31]

Other key movers & corporate news

1. AU Small Finance Bank

• Shares hit fresh highs after the Finance Ministry raised the foreign investment limit to 74% , matching the cap for private sector banks and opening the door to additional FPI flows. ^[32]

2. Sammaan Capital & Highway Infrastructure

• Highway Infrastructure soared nearly 13% intraday after winning a ~₹329 crore NHAI contract , highlighting continued interest in infrastructure plays. ^[33]
• Sammaan Capital climbed about 9% after the Competition Commission of India (CCI) cleared Avenir Investment’s plan to acquire a controlling stake. ^[34]

3. TVS Supply Chain Solutions

• Stock gained roughly 3–4% after the board approved up to ₹100 crore additional investment in subsidiary FIT 3PL Warehousing, reinforcing long-term growth plans in logistics. ^[35]

4. Zydus Lifesciences

• Zydus launched ‘Zyrifa’ , a Denosumab biosimilar used in osteoporosis and cancer-related bone complications, priced at about ₹12,495 , signaling continued innovation in India’s biotech space and drawing investor attention to pharma. ^[36]

5. Adani Green Energy

• Early-trade block deals saw TotalEnergies likely offload ~1.4% stake worth over ₹2,100 crore , according to liveblog commentary, underscoring continued global interest and portfolio reshuffling in the Adani group. ^[37]

5. FII/DIIs, rupee and debt markets

Foreign vs domestic flows

Tuesday’s session underscored the tug-of-war between foreign and domestic investors :

• Foreign Institutional Investors (FIIs) were net sellers of about ₹3,760 crore in Indian equities.
• Domestic Institutional Investors (DIIs) stepped in as buyers, adding roughly ₹6,225 crore , offsetting FII selling and helping limit downside. ^[38]

This pattern — FPIs taking money off the table amid global uncertainty, while domestic institutions continue to buy — has become a defining theme of late 2025.

Rupee and bonds

• The rupee opened around 90.03 per US dollar , about 0.17% weaker than Tuesday’s close near 89.88, aligning with the mildly stronger dollar and pre-Fed bail. ^[39]
• On the bond side, large state-owned issuers PFC and SIDBI chose to withdraw bond offerings totaling about ₹11,500 crore after auction yields came in higher than expected — a reminder that, despite the easing cycle, investors are demanding more compensation for long-duration risks. ^[40]

Regulation is also tightening:

• The government has empowered SEBI to instruct social media platforms to take down deceptive stock-related content , targeting pump-and-dump schemes and misleading “finfluencer” posts. ^[41]

6. Technical & derivatives view: Key levels for Nifty, Sensex, Bank Nifty

If you strip away the noise, most technical desks are telling a broadly similar story: structural uptrend, but short-term corrective and volatile .

Nifty 50: supports, resistances and OI signals

Price structure & candlesticks

• Nifty recently formed Doji and “small negative” candles after a meaningful decline, a common sign of indecision and potential short-term bottoming near support. ^[42]
• Technical analysts highlight a break below a rising wedge/ascending channel , with the index now trading under its 21-day moving average , signaling weaker momentum while the medium-term trend remains positive . ^[43]

Key levels widely watched

Different brokerages are largely converging on a similar band of levels: ^[44]

• Immediate resistance:
  • 26,000 : heavy call open interest and 21-DMA zone.
  • 26.100–26.325 : higher resistance cluster; analysts see bounces into this band as likely profit-booking zones for short-term traders.
• Support zone:
  • First support around 25,700 (near the 50-day EMA/previous swing low).
  • Stronger demand area between 25,500 and 25,300 ; many technicians believe the broader uptrend remains intact as long as this zone holds.

Derivatives (F&O) signals

• Call writers have added substantial positions at 26,000 , with open interest above 78 lakh contracts , reinforcing it as a major resistance cap.
• Put writers have shifted exposures towards 25,500 , where OI north of 51 lakh contracts suggests firm support.
• The Put–Call Ratio has bounced from around 0.47 to about 0.67 , consistent with elevated caution and defensive positioning rather than outright bullishness. ^[45]

Overall, the options market points to a short-term trading range roughly between 25,500 and 26,000 , with volatility spikes likely around the Fed outcome.

Sensex: watch 84,400 as intraday line in the sand

Kotak Securities’ technical desk frames 84,400 on Sensex as a crucial intraday support : ^[46]

• Above 84,400 , they see scope for pullback rallies towards 85,000–85,200 .
• A sustained break below 84,400 could reopen downside towards 84,000 and potentially lower if selling accelerates.

Given that midday levels are hovering just above this support, bulls are trying to defend it, but conviction remains low until the Fed passes.

Bank Nifty: range-bound but structurally up

On the banking index, there’s broad agreement that the trend is still up , but short-term fatigue has set in: ^[47]

• Recent close: ~59,222 on Tuesday, effectively flat but with intraday volatility.
• Support:
  • Near-term: 58,900–58,700 .
  • Stronger: ~58,500–58,400 , where several analysts expect dip-buying to emerge.
• Resistance:
  • 59,500–59,700 initially, followed by 60,000–60,100 and the recent high around 60,114 as key breakout levels.

Bank Nifty is thus seen as “sell on rise” short-term but constructive medium-term , with traders preferring to buy dips closer to support rather than chase strength near 60k.

7. Near-term forecasts & strategic views

Short-term: volatility with a sideways bias

Analysts quoted across Mint, Republic, MarketSmith and broker research agree on a few core points: ^[48]

• The market is technically oversold in spots but not capitulating, making sharp counter-trend rallies possible once event risk (Fed, trade talks) clears.
• However, sustained up-move likely requires:
  • A “market-friendly” Fed outcome and guidance ,
  • Visible progress or at least no negative shock on the India–US trade front , and
  • Continued support from domestic flows to offset any further FPI selling and IPO-related liquidity drain.

Short-term strategies being suggested by many desks include:

• Range trading between support (25,500–25,700) and resistance (26,000–26,300) on the Nifty.
• Focus on stock- and sector-specific stories (eg, metals, select autos, logistics, specialty chemicals) rather than aggressive index-level bets until directional clarity improves.

Medium-term: structurally bullish, but selective

On the 12–18 month horizon , the tone turns more optimistic:

• Kotak Securities projects a bull-case Nifty target of 32,032 by December 2026 , based on valuing the index at 22x FY28E EPS of ₹1,456 , a 10% premium to its 10-year average P/E multiple. ^[49]
• MarketSmith’s framework keeps the market in a “Confirmed Uptrend” , even after the recent pullback, with the caveat that 25,300 must hold to preserve the broader structural bull case. ^[50]

The broad consensus: India’s earnings trajectory and domestic macro resilience remain intact , but near-term returns could be choppy and event-driven rather than linear.

8. What to watch for in the coming days

Investors tracking the Indian stock market over the rest of this week and into the second half of December should keep an eye on:

1. US Fed outcome and press conference
   • Any surprise on the magnitude of cuts or the dot plot could swing global risk assets, including Indian equities, very quickly. ^[51]
2. Rupee trajectory and bond yields
   • A further rupee slide or another round of debt issuers pulling bond sales could hint at rising risk aversion in the local fixed income market. ^[52]
3. FII vs DII flows
   • Whether DIIs continue to absorb FII selling — as they did on Tuesday — will be crucial for the index stability near current levels. ^[53]
4. IPO calendar and listing performance
   • The Meesho debut and other listings like Aequs, Vidya Wires and upcoming healthcare IPOs will influence liquidity and risk appetite in the broader market. ^[54]
5. Regulatory developments
   • SEBI’s enhanced power to remove misleading stock content from social platforms could gradually reshape the landscape for speculative small- and mid-cap trading. ^[55]

9. Bottom line

• Today’s trade (10 December 2025) is best described as cautious, range-bound and event-driven : a modest intraday bounce has morphed into marginal losses as traders de-risk into the Fed and trade talks.
• Short-term traders are watching 25,700–25,300 on Nifty and 84,400 on Sensex as key floors, with any decisive move above 26,000–26,300 needed to revive bullish momentum. ^[56]
• Medium-term investors still see India as a relative outperformer , with some houses pencilling in 20–25% Nifty upside by late 2026 , but are increasingly selective amid stretched valuations in pockets and heavy primary-market activity. ^[57]

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