Markets end lower ahead of Dec series expiry; Nifty slips below 26,000

Indian equity markets closed on a weak note on Friday as investors stayed cautious ahead of the December series derivatives expiry, with selling pressure visible across sectors and the broader market mirroring benchmark losses.

The Sensex fell 346 points to settle at 84,696, while the Nifty declined 100 points to close at 25,942, slipping below the 26,000 mark. Market breadth clearly favoured declines, with nearly 35 Nifty constituents ending in the red, some falling as much as 2%.

Financial stocks

were relatively resilient, with the Nifty Bank index slipping just 79 points to close near the flatline at 58,932. In contrast, the midcap index fell 313 points to 60,001, reflecting risk-off sentiment in the broader market.

Metal stocks failed to sustain early gains as prices retreated sharply from the day’s highs. Rail-related stocks witnessed profit booking after strong recent moves, with IRFC and RVNL falling around 5% each. Capital market stocks remained under pressure, with Angel One emerging as the weakest performer ahead of monthly business updates.

EMS stocks continued to see selling pressure, with Dixon Technologies falling 4% and Amber Enterprises slipping 2%. Gold financiers such as Muthoot Finance and Manappuram Finance pared intraday gains as precious metals erased earlier advances.

On the positive side, FMCG stocks saw buying interest in an otherwise weak session, with Tata Consumer Products and Asian Paints among the top Nifty gainers. Oil marketing companies moved higher as crude prices declined, with HPCL and BPCL gaining over 1% each.

HFCL, NCC and Titagarh Rail Systems ended in the green ahead of their exclusion from the futures and options segment, rising between 2% and 5%. Vodafone Idea remained in focus and closed off its lows amid expectations of a relief package.

Timex Group India fell 7% following reports of a promoter stake sale via an offer for sale, while defence stocks ended mixed even as the Defence Acquisition Council approved proposals worth ₹79,000 crore.