Sensex slides 425 pts; IT shares tumble

The key equity benchmarks traded with substantial losses in the mid-morning trade amid persistent foreign portfolio outflows, a weakening rupee, and continued uncertainty over a trade agreement with the United States.

The Nifty traded below the 25,900 level. IT shares witnessed profit booking after advancing in the past three consecutive trading sessions.

At 11:30 ST, the barometer index, the S&P BSE Sensex, fell 424.68 points or 0.50% to 84,788.68. The Nifty 50 index lost 120.90 points or 0.47% to 25,906.40.

In the broader market, the S&P BSE Mid-Cap index fell 0.68% and the S&P BSE Small-Cap index slipped 0.47%.

The market breadth was weak. On the BSE, 726 shares rose and 1,107 shares fell. A total of 225 shares were unchanged.

IPO Update:

KSH International received bids for 6,56,292 shares as against 1,36,16,438 shares on offer, according to stock exchange data at 11:15 IST on Tuesday (16 December 2025). The issue was subscribed 0.05 times. The issue opened for bidding on 16 December 2025 and it will close on 18 December 2025. The price band of the IPO is fixed between Rs 365 and 384 per share.

ICICI Prudential Asset Management Company received bids for 12,48,52,158 shares as against 3,50,15,691 shares on offer, according to stock exchange data at 11:15 IST on Tuesday (16 December 2025). The issue was subscribed 3.57 times. The issue opened for bidding on 12 December 2025 and it will close on 16 December 2025. The price band of the IPO is fixed between Rs 2,061 and 2,165 per share.

Buzzing Index:

The Nifty IT index dropped 1.03% to 37,990.10. The index rallied 1.57% in the past three consecutive trading sessions.

Mphasis (down 1.82%), Oracle Financial Services Software (down 1.66%), HCL Technologies (down 1.65%), Infosys (down 1.13%), Persistent Systems (down 1.06%), LTIMindtree (down 1.04%), Tata Consultancy Services (down 0.91%), Coforge (down 0.82%), Wipro (down 0.57%) and Tech Mahindra (down 0.26%) declined.

Stocks in Spotlight:

RBL Bank slipped 1.28% after Buvanesh Tharashankar, chief financial officer (CFO), tendered his resignation to pursue opportunities outside the bank.

Westlife Foodworld declined 1.95% after the company announced the appointment of Shardul Doshi as chief financial officer (CFO) of the company, effective 15 December 2025.

Mahanagar Telephone Nigam (MTNL) jumped 6.70% after the state-owned telecom firm said its board approved the sale of a residential property in Mumbai.

Global Markets:

The Asian market declined on Tuesday, tracking Wall Street declines as investors continued to rotate out of the artificial intelligence trade in the U.S.

Flash purchasing managers index numbers from S&P Global showed that business activity expanded at a slower pace in Australia in December, with the composite PMI falling to 51.1 from November's 52.6.

Overnight in the U.S., the S&P 500 lost 0.16% after beginning the session in positive territory.

The Dow Jones Industrial Average slipped marginally, while the tech heavy Nasdaq Composite fell 0.59%.

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