IT shares gain as Nifty, Sensex begin the day in red

Authored By Ankur Chandra | Last Modified: Dec 3, 2025 10:18 AM IST

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Indian equity markets have started the day in red today. At 9:40 a.m., 3^rd December, 2025, Nifty 50 is down by 106 points or 0.41%. Sensex is down by 305.2 points or 0.36%.

Market sentiments got an adverse hit yesterday after rupee depreciated against the dollar to close near the Rs 90/ dollar mark. Further decline in the value of rupee was arrested only after market intervention by RBI. The central bank sold dollars to prevent the rupee from declining further. This has also raised the probability that RBI will keep interest rate unchanged in its December monetary policy meeting. Its monetary policy meeting will take place today and tomorrow. An interest rate cut will put further downward pressure on rupee.

IT stocks gaining today

IT stocks are gaining today. This, on the expectation that US Federal Reserve will go for a 25 basis point rate cut in its upcoming monetary policy meeting on December 9^th– 10^th. Interest rate cut there may give a boost to the US economy. This in turn may increase demand from US companies for the services of Indian IT companies. Depreciation in rupee against the dollar also benefits Indian IT companies. They earn a significant part of their revenues in US dollars from US clients. Depreciation in rupee against the dollar results in translation gains for them. There revenue in rupee terms goes up when the rupee weakens against the dollar.

Top gainers & losers

Top three gainers at Nifty 50 at this time are Wipro, Dr Reddy’s and TCS. Top three losers are Hindustan Unilever, Nestle India and HDFC Life. Among sectoral indices, Nifty Midsmall IT & Telecom index is the top gainer at this time. It is up by 0.69%. Top sectoral loser at this time is Nifty PSU bank index. It is down by 1.15%.

Market breadth significantly negative

Market breadth is significantly negative at this time. At NSE, 909 stocks are gaining at this time. 1672 stocks are declining. 20 stocks have touched 52-week high by this time. 80 stocks have touched 52-week low.

Disclaimer : This content is only for informational purpose. It does not make any recommendation to act or invest.

Source: NSE

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