Indian equity benchmarks are likely to open on a flat note on Wednesday, December 31, as indicated by GIFT NIFTY futures. NIFTY futures at GIFT City were trading 16 points higher at 26,118, up 0.06%, amid subdued cues from Asian markets.
How markets closed on Tuesday
Indian equities ended largely unchanged on Tuesday, December 30, as gains in select banking and auto stocks were offset by losses in heavyweight names during the expiry of December derivatives contracts.
The SENSEX traded within a 336-point range, while the NIFTY50 touched an intraday high of 25,976.75 and a low of 25,878.
- SENSEX: Closed 20 points lower at 84,675
- NIFTY50: Ended 8 points higher at 25,950
Asian markets
Most Asian indices were trading lower on Wednesday:
- Hang Seng: Down 0.72%
- Straits Times: Lower by 0.14%
- Shanghai Composite: Up 0.26%
Markets in Japan and South Korea remained shut due to New Year’s Eve holidays.
Wall Street update
US equities closed lower on Tuesday in a light-volume pre-holiday session, according to Reuters. All three major indices ended in the red:
- Dow Jones: Down 0.2%
- S&P 500: Fell 0.14%
- Nasdaq: Declined 0.24%
Gold prices rebounded on the penultimate trading day of 2025.
FII and DII activity
Foreign institutional investors sold shares worth Rs 3,844 crore, while domestic institutional investors bought shares worth Rs 6,160 crore, as per NSE data.
- FIIs in December: Net sellers of Rs 19,023 crore
- FIIs in 2025: Net outflow of Rs 1,62,698 crore (NSDL data)
Stocks to watch today
Steel stocks: Shares of steel producers are expected to remain in focus after the government imposed a three-year safeguard duty of 11%–12% on select steel imports to curb cheap shipments, particularly from China. The duty will be levied at 12% in the first year, 11.5% in the second year, and 11% in the third year, according to a Ministry of Finance order cited by Reuters.
InterGlobe Aviation: IndiGo’s parent received a GST penalty notice worth over Rs 458 crore for the period from FY19 to FY23. The company said the order is erroneous and plans to challenge it legally. IndiGo also stated it is already in appeal for a similar matter related to FY18.
Orient Technologies: The stock will be in focus after the company fixed January 5, 2026, as the record date for its 1:10 bonus issue, following shareholder approval.
Bharat Forge: Shares may see action after the company signed its largest-ever small arms contract worth Rs 1,661.9 crore with the Ministry of Defence for supplying over 2.55 lakh CQB carbines to the Indian Army over five years.
IFCI: The company monetised its 40% stake in NEDFi for Rs 121.77 crore, against an acquisition cost of Rs 10 crore.
NBCC (India): The state-owned firm sold 417 residential units in Noida and Greater Noida for Rs 1,045.40 crore through e-auction under the Supreme Court-monitored Amrapali project resolution framework.
Indian Oil: The company completed its highest-ever advance winter stocking, supplying over one lakh kilolitres of petroleum products to Ladakh ahead of seasonal road closures, ensuring uninterrupted fuel supply for civilians and defence needs.
