Indices trade lower; PSU Bank shares under pressure
03-Dec-2025
The key equity benchmarks traded with moderate losses in morning trade as the rupee weakened against US dollar. Investors' focus now shifts to fresh IPO activity, upcoming PMI data and the RBI’s monetary policy meeting scheduled later this week. The Nifty traded below the 25,950 mark.
PSU Bank shares witnessed selling pressure for second consecutive trading session.
At 10:25 IST, the barometer index, the S&P BSE Sensex, declined 258.84 points or 0.30% to 84,879.43. The Nifty 50 index fell 100.75 points or 0.39% to 25,931.45.
In the broader market, the S&P BSE Mid-Cap index shed 0.91% and the S&P BSE Small-Cap index fell 0.59%.
The market breadth was weak. On the BSE, 1,260 shares rose and 2,306 shares fell. A total of 210 shares were unchanged.
In the foreign exchange market, the rupee edged lower against the dollar. The partially convertible rupee was hovering at 90.1100 compared with its close of 89.9650 during the previous trading session. The currency slipped to a fresh record low after breaching the 90-mark.
Buzzing Index:
The Nifty PSU Bank index fell 0.85% to 8,373.40. The index decilined 1.90% for two consecutive trading sessions.
Indian Bank (down 3.55%), Punjab National Bank (down 2.5%), Bank of India (down 1.72%), Bank of Baroda (down 1.55%), Bank of Maharashtra (down 1.44%) , Punjab & Sind Bank (down 1.42%), Canara Bank (down 1.41%), UCO Bank (down 1.41%), Central Bank of India (down 1.23%) and Indian Overseas Bank (down 0.91%) declined.
Stocks in Spotlight;
Angel One declined 5.74% after the company reported that its gross client acquisition declined 16.6% year-on-year (YoY) to 0.50 million in November 2025 from 0.60 million in November 2024.
Mahindra Lifespace Developers shed 0.55%. The company said that it has been selected as the preferred development partner for a major residential redevelopment project in Matunga, Mumbai.
Quality Power Electrical Equipment fell 0.41%. The company announced that it has secured an order worth Rs 13.90 crore for the supply of coil products.