The Indian stock market closed flat in Monday’s session, December 15, as stocks recovered sharply from a weak start, but limited support from banking heavyweights prevented key indices from gaining, resulting in mild losses at the close.
The continued selling by overseas investors amid uncertainty regarding a trade deal with the US has been putting the Indian rupee under pressure, which analysts believe is acting as an anchor on market momentum and limiting gains in key indices.
Both benchmark indices posted minor losses, with the Nifty 50 ending at 26,034, a 0.05% drop from the previous close, while the S&P BSE Sensex closed 0.08% lower at 85,202. However, the broader markets closed mixed, with the Nifty Midcap 100 index slipping 0.18% and the Nifty Smallcap 100 index rallying 0.20%.
Sectoral performance was mixed, with auto, pharma, and banking stocks taking a hit, while media, FMCG, consumer durables, public sector banks, and tech stocks saw buying interest.
Meanwhile, the Indian rupee fell to a record low of 90.74 against the US dollar, eclipsing its previous all-time low of 90.55 hit on December 12, making the local currency Asia’s worst performer this year.
Vinod Nair, Head of Research, Geojit Investments Limited, said, Persistent foreign fund outflows and a weak rupee have kept markets in a narrow range, with currency volatility likely to continue until clarity emerges on the India–US trade deal. Expectations of an earnings recovery in H2FY26, supported by monetary and fiscal growth drivers, are helping stabilize sentiment.”
Praj Industries tops Nifty 500 gainers’ list
Praj Industries share price emerged as the top gainer among Nifty 500 stocks, rising 10% to ₹334 apiece. The rally came as a big relief for shareholders, who have seen the stock remain under sharp pressure this year. Despite today’s rise, the stock’s year-to-date decline still stands at 60%, marking its biggest yearly fall since 2008.
Transformers and Rectifiers share price also stayed higher for the second straight session, gaining 9.3% to ₹306.30 apiece. Ather Energy share price recovered smartly from recent lows, advancing 6.22% to ₹685.25 apiece.
PVR Inox share price closed with a surge of 3.30% at ₹1086, snapping its seven-day losing streak on the back of the strong box office performance of Dhurandhar.
The beaten-down Action Construction share price also rose 6.66% to ₹995.90 apiece. EMS stocks, including Dixon Technologies share price and Amber Enterprises share price, continued their recovery rally from the recent slump, with each gaining over 2.5%.
After being locked in a nearly 20% lower circuit earlier, Refex share price recovered a majority of the losses, surging 17.46% to ₹299.40 apiece. The rebound came after the company issued a clarification on searches conducted by the Income Tax department at its premises.
Hindustan Zinc share price extended its rally to the fifth consecutive trading session, rising 1.15% to ₹568 apiece after Jefferies initiated coverage on the stock with a ‘Buy’ rating and a target price of ₹660 per share.
Meanwhile, Shakti Pumps share price also remained higher for the third straight session, surging 15.7% to ₹752.20 apiece on the back of multiple order wins by the company.
PTC Industries share price falls 4%; Vodafone Idea and auto stocks end lower
PTC Industries share price led the losers’ list on Monday, falling 4% to ₹17,527 apiece, while CCL Products India, BSE, Emcure Pharmaceuticals and Aditya Birla Capital also posted losses of over 3%.
Vodafone Idea share price slipped 2.5% to ₹11.35 apiece amid reports that the loss-making telecom operator may get more time—six years after a five-year moratorium—to pay only 50% of the dues it owes the government on account of adjusted gross revenue (AGR).
Auto stocks such as Mahindra & Mahindra and Hyundai Motor India declined around 2% each. New-age tech stocks Honasa Consumer and Brainbees Solutions also ended lower, falling 1.8% and 1.7%, respectively.
Other key stocks, including KPIT Technologies, Tejas Networks, Blue Jet Healthcare, Ipca Laboratories, Mankind Pharma and Sapphire Foods India, also closed in the red, declining in the range of 1.5% to 2%.
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