CHENNAI: Indian equities ended lower on Wednesday (December 3) as the market extended its losing streak for a fourth straight session. The Sensex closed near 85,107 while the Nifty settled around 25,986, both slipping marginally in a session marked by cautious sentiment and persistent profit-booking at higher levels.
The weakness was broad, driven largely by selling in PSU banks, consumer durables, auto, FMCG and realty stocks. Several heavyweight counters also lost ground, weighing on the benchmarks through the second half of trade. Sectors such as IT and metals offered partial support, helped in part by the rupee’s continued weakness, but the strength was not enough to offset pressure across the broader market.
Investors continued to respond to currency stress and steady foreign outflows, both of which have clouded the near-term outlook. With the rupee touching fresh lows and global risk appetite still uneven, traders opted to pare positions ahead of key domestic triggers. The mood turned further defensive as pockets of volatility emerged across rate-sensitive shares in the run-up to the upcoming policy review.
Market breadth remained weak throughout the session, reflecting continued consolidation after the recent rally. Analysts noted that Nifty faces stiff resistance in the 26,100–26,300 zone, while immediate support is seen around 25,900–25,850. Until the index decisively moves above the upper band, upside momentum is expected to remain limited, and the market may continue oscillating within a narrow range.
For investors, the ongoing drift suggests a cooling phase rather than a deep correction, though caution is likely to dominate near-term sentiment. The next set of cues from the Reserve Bank of India, along with any improvement in foreign flows or currency stability, will play a decisive role in shaping direction over the coming sessions.