India Stock Market Today, 1 December 2025: Sensex, Nifty Slip From Record Highs as Bank Nifty Hits 60,000 and Rupee Touches Fresh Low

Dalal Street began December with fireworks and ended with a sigh. Indian indices opened at record highs on Monday, buoyed by blockbuster 8.2% Q2 GDP data, but profit‑booking, a sliding rupee and weak global cues dragged the market into the red by the close. ^[1]

Closing Bell: How the Market Finished on 1 December 2025

By the closing bell on Monday, 1 December 2025:

Sensex: 85,641.90, down about 65 points (‑0.08%)
Nifty 50: 26,175.75, down 27.20 points (‑0.10%) ^[2]
Intraday highs:
- Sensex jumped to a record 86,159.02 (up ~452 points at the day’s peak)
- Nifty 50 climbed to 26,325.80, a fresh lifetime high ^[3]
Bank Nifty: opened above 60,000 for the first time, hitting a historic high of 60,114.05 before settling just below the mark at 59,681.35 ^[4]
Broader market:
- Nifty Midcap 100 touched a record 61,311.25 intraday, closing almost flat at 61,043.40 ^[5]
- BSE Midcap index slipped around 0.19%, while BSE Smallcap edged up about 0.05% ^[6]
Market breadth turned negative, with roughly 1,700 stocks advancing and over 2,000 declining on the NSE, signalling profit‑taking across the board. ^[7]

In other words, India stock market today looked bullish at the open but ended in classic “sell on strength” mode.

From Gap‑Up to Give‑Up: What Drove the Intraday Reversal

Early trade was all about celebrating growth. Fresh data showed India’s Q2 FY26 GDP grew 8.2% year‑on‑year, the fastest in six quarters and ahead of estimates, driven by strong manufacturing and services. ^[8]

That print triggered:

Gap‑up opening in the benchmarks
Record highs in Sensex, Nifty 50 and Bank Nifty
Strong participation in mid- and small‑caps, which also flirted with new peaks ^[9]

However, as the session progressed, several headwinds took over:

Rupee at a record low
- The rupee slid to a fresh all‑time low near 89.7–89.8 per US dollar intraday, before hovering around the high‑89 range by evening. ^[10]
- Currency weakness – despite strong GDP – unnerved investors, especially in import‑heavy sectors like oil & gas and chemicals.
RBI rate‑cut hopes fade
- Strong growth has reduced the odds of a near‑term RBI rate cut at the 5 December policy meeting.
- The 10‑year G‑sec yield climbed from around 6.47% to 6.52%, as brokerages like Barclays now expect the RBI to hold rates, not cut, even as they acknowledge unusually low recent inflation. ^[11]
Weak global cues and risk‑off mood
- Asian markets were soft; Japan’s Nikkei fell around 2%, while South Korea’s Kospi also traded lower.
- Wall Street futures pointed to a weaker US open, adding to the risk‑off tone. ^[12]
Foreign selling continues
- FPIs have been consistent net sellers in recent months, rotating into markets like Mexico and South Korea that have delivered 60%‑plus returns over the last year. ^[13]
- On Monday, they sold another ₹1,171 crore of equities, even as domestic institutions stepped in with ₹2,559 crore of net buying. ^[14]
Softening manufacturing momentum
- The HSBC India Manufacturing PMI for November fell to 56.6 from 59.2, a nine‑month low, still in expansion but signalling slower growth as US tariffs weigh on exports. ^[15]
Higher crude oil
- Brent crude traded higher after OPEC+ decided to keep output unchanged for Q1 2026, reviving worries about imported inflation for an oil‑dependent India. ^[16]

Put together, the picture for India stock market today was classic: good news on growth had already been priced in, while fresh worries about currency, rates and global risk appetite provided a reason to book profits at record levels.

Sector & Stock Moves: Banks Shine, Pharma & Realty Lag

Banks and autos steal the show

Bank Nifty made history by opening above 60,000 for the first time and hitting 60,114.05 intraday.
- Bank of Baroda led the pack, gaining about 2.7%
- Kotak Mahindra Bank, PNB, SBI and Canara Bank also clocked healthy gains in early trade, backed by robust GDP, rate‑cut hopes abroad and optimism on credit growth. ^[17]
On the sectoral front, auto, IT, PSU banks and metals ended modestly in the green, rising roughly 0.3–0.5%. ^[18]

Pharma, realty and consumer names under pressure

Realty index fell about 1%, and consumer durables and pharma dropped around 0.5%. ^[19]
Among large caps, Titan, Bajaj Finance and Sun Pharma were notable laggards, slipping up to about 1%, while Trent and InterGlobe Aviation also remained under pressure. ^[20]

Midcap spotlight: Dynamic Cables

One of the more eye‑catching stories in the midcap space was Dynamic Cables:

The stock spiked up to 10.36% intraday, and was still up about 5.6% around noon.
The trigger: the company received approval from Power Grid Corporation of India to manufacture and supply ACSR & AL59 conductors, a move that strengthens its eligibility for future power‑grid projects. ^[21]
Its latest results underline why the stock is on traders’ radar:
- Q2 FY26 revenue up 20% YoY
- PAT up 42%
- Margins improving alongside a healthy order book ^[22]

This fits the broader narrative of manufacturing and power‑infra themes remaining market favourites despite near‑term index volatility.

Macro Backdrop: 8.2% GDP vs Cooling PMI and a Weak Rupee

The macro data driving India stock market today is a study in contrasts:

Real GDP grew 8.2% in Q2 FY26 (July–September), the best in six quarters, driven by manufacturing, services and front‑loaded festive demand. ^[23]
But nominal GDP growth, at about 8.7%, is much lower, hinting at subdued pricing power and disinflationary forces. ^[24]
The manufacturing PMI data for November, released today, showed the index at 56.6, its weakest level in nine months, suggesting growth is still strong but slowing as US tariffs crimp export orders. ^[25]

Meanwhile, the rupee is sending a different signal:

It fell to a record low around 89.7–89.8 per dollar intraday, before stabilising slightly below that level as the RBI was seen leaning against excessive volatility. ^[26]
Persistent equity outflows and a wide trade deficit are weighing on the currency, even as strong GDP lifts bond yields and attracts some interest into debt markets. ^[27]

In short, the macro story is growth‑strong, currency‑weak and liquidity‑mixed, which naturally feeds into today’s choppy equity price action.

Flows, Valuations and India’s Place in the Global Bull Run

FII vs DII: Who’s supporting the market?

Foreign institutional investors (FIIs/FPIs) were net sellers of ₹1,171 crore on 1 December.
Domestic institutional investors (DIIs) bought ₹2,559 crore, once again cushioning the impact of FII selling. ^[28]
For 2025 so far, FIIs have reportedly pulled out around ₹1.5 lakh crore, while DIIs and retail flows have kept the indices near all‑time highs. ^[29]

Underperformer at record highs

An Indian Express analysis pointed out a striking paradox:

Over the last year, the Sensex is up only about 8.4%, even after scaling fresh peaks near 86,000. ^[30]
In the same period, markets like Mexico and South Korea have surged more than 60%, and even China has outperformed India despite its growth worries. ^[31]

This relative underperformance helps explain:

Why FPIs have been reducing India allocations despite strong domestic macros
Why valuations, while still rich, are beginning to look more reasonable after months of sideways consolidation

What about valuations now?

A strategy note from Equirus Securities, cited by Business Today, argues that:

Indian equities have eased from peak valuations, narrowing the gap versus global peers after the recent consolidation.
However, macro and earnings visibility is still patchy, so they recommend:
- Staying overweight large caps
- Being selective in midcaps with clear sector/earnings catalysts
- Avoiding broad, indiscriminate exposure to smallcaps until valuations and earnings converge. ^[32]

Technical Outlook: Key Levels for Nifty, Bank Nifty and Sensex

Technical analysts remain broadly constructive on the uptrend but warn that chasing the market at record highs is risky.

Nifty 50

According to ET Now and related technical views: ^[33]

Immediate support:
- Around 26,100, followed by 26,000–26,050
- Deeper support at the 21‑day moving average near 25,890
Resistance / hurdle zone:
- 26,300–26,350 is the immediate ceiling, where Nifty has repeatedly stalled
- A convincing close above 26,300 could open the way towards 26,600 in the near term
Indicators remain in “buy” mode on daily and weekly charts, but are moving into overbought territory, suggesting scope for further consolidation or a pullback.

Moneycontrol’s technical note echoes this, calling 26,300 the key hurdle and highlighting the lack of follow‑through buying once Nifty pokes above that level. ^[34]

Bank Nifty

Bank Nifty’s decisive break above 60,000 intraday is a strong positive technical signal, but analysts will watch whether it can sustain above 59,700–60,000 on a closing basis over the next few sessions. ^[35]

Sensex

For Sensex, immediate resistance is now around the 86,000–86,200 zone, with support near 85,000–85,100according to several brokerage commentaries. A break below 85,000 would make the recent breakout look vulnerable. ^[36]

Net takeaway: Trend remains up, but the index is tired, and the burden of proof has shifted to the bulls to sustain a breakout beyond 26,300 on Nifty.

Strategy & Stock Ideas Highlighted Today (Not Investment Advice)

Brokerages and commentators used today’s session to reiterate their medium‑term themes rather than chase the headline indices.

Key angles from 1 December notes: ^[37]

Prefer large caps
- Banks (particularly private sector leaders), select industrials and defence names continue to feature in top‑pick lists.
- Axis Bank, ABB India and Eternal were among large‑cap favourites highlighted as beneficiaries of easing valuations and supportive policy.
Selective midcaps
- Names tied to manufacturing, capex and healthcare – like Alkem Labs or infrastructure‑linked plays – are preferred where earnings visibility is strong.
- Stories like Dynamic Cables underline the market’s appetite for companies leveraged to the power‑infra cycle with improving balance sheets.
Caution on smallcaps
- Several strategists remain wary of broad‑based smallcap exposure, citing stretched valuations and the risk of sharp corrections if global risk appetite falters.

Importantly, multiple technical experts stressed avoiding aggressive fresh index buys at current levels and instead focusing on staggered entries into favoured themes on dips.

(As always, these are summaries of public brokerage views, not personalised investment advice. Investors should consult their own advisers.)

What to Watch for the Rest of the Week

For anyone tracking India stock market this week, the key triggers after today’s move are:

RBI policy meeting on 5 December
- Consensus has shifted from expecting a rate cut to expecting a pause with a possible growth upgrade, especially after the 8.2% GDP print. ^[38]
Rupee trajectory
- Whether the rupee stabilises after today’s record low, or slides further, will be crucial for FII sentiment and rate expectations. ^[39]
Global risk sentiment
- US data, Fed commentary and developments around US tariffs will remain in focus, particularly after the manufacturing PMI showed export headwinds. ^[40]
Flows into Indian equities
- Any sign that FPIs are finally rotating back into India—after months of favouring other emerging markets—could be a powerful tailwind, especially if domestic flows remain strong. ^[41]

For now, 1 December 2025 will be remembered as a session where:

Fundamentals (GDP) were stellar,
Technical levels (26,300 Nifty / 86,000 Sensex) proved sticky, and
Currency and global worries kept bulls from fully celebrating new highs.

Disclaimer: This article is for informational and journalistic purposes only and is not a recommendation to buy or sell any security. Markets are volatile and past performance is not indicative of future results. Please consult a registered financial advisor before making investment decisions.