TLDR
Market Recap: December 31, 2025
On December 31, Indian equities closed higher in the last session of 2025 as metals led on the steel safeguard-duty trigger, while steady FII selling was cushioned by strong DII buying. Sensex ended at 85,220.60, up 545.52 (+0.64%), and Nifty 50 at 26,129.60, up 190.75 (+0.74%); broader markets outperformed with Nifty Midcap 100 at 60,484.50 (+0.95%) and Nifty Smallcap 100 at 17,713.95 (+1.11%). India VIX eased to 9.47 (down 2.17%), pointing to calmer near-term risk pricing; flows stayed split with FIIs net sellers (~₹3,597 cr) and DIIs net buyers (~₹6,760 cr) in cash.
Key Drivers :
Steel tariff spark: A 3-year safeguard duty lifted ferrous sentiment, pushing metals to the top of the sector chart.
Flows stayed divergent: FIIs sold into year-end, but DII buying steadied the tape and kept dips shallow.
Next week macro radar: Traders head into early-Jan watching key prints and budget cues for the next directional push.
Today’s Top Stories:
Steel duty lifts metals: A 3-year import levy sparked a metal rally and improved domestic pricing expectations.
Vi sinks on reset: Moratorium headlines were not a waiver, so the stock sold off hard.
Dynacons gets RBI win: A ₹249 cr platform contract drove a sharp re-rating pop.
Solar Industries adds order: ₹1,746 cr. Coal India's order ended the stock’s losing streak.
RITES jumps: $3.6m Zimbabwe locomotive supply order, reinforcing overseas traction for the Navratna PSU.
TOP STORIES
1. Steelmakers jump as India imposes 3-year safeguard duty on select imports
Gemini-2.5
Policy: Govt imposes 3-year safeguard duty 12% year1, 11.5% year2, 11% year3 on select steel imports.
Impacts: Domestic pricing power improves; watch downstream cost pass-through and demand elasticity.
Market: Tata Steel, JSW Steel, SAIL, and Jindal Steel rose about 2% to 5%.
Steel imports face a 3-year safeguard duty. Your take?
2. Vodafone Idea slides as AGR relief is deferment, not waived
Gemini-2.5
Policy: Govt grants partial moratorium, defers about $9.76b AGR payments to start 2031-32, run to 2040-41.
Impacts: Interest and penalties freeze, but dues are not waived; funding, ARPU, and churn remain decisive.
Market: Stock slid about 11% as waiver hopes faded.
Vi gets AGR deferment into the 2030s. What matters most now?
3. Dynacons rallies on ₹249.15 cr RBI enterprise platform win
Gemini-2.5
Order: Dynacons wins RBI Enterprise Applications Platform project worth ₹249.15 cr under consumption model, 5-year term.
Impacts: Adds annuity-style visibility and boosts credibility for large public-sector digital platforms.
Market: Shares jumped about 12% to 13% on the order surprise.
Dynacons wins ₹249.15 cr RBI project. How do you read it?
4. Solar Industries gains on ₹1,746 cr Coal India order
Gemini-2.5
Order: Solar Industries gets additional ₹1,746 cr bulk explosives order for Coal India group, delivery over two years.
Impacts: Strengthens order book and scale; watch margin, raw material, and logistics execution.
Market: Stock ended about 2% higher, snapping a short losing streak.
Solar bags ₹1,746 cr order. What’s the signal?
5. RITES jumps on $3.6m Zimbabwe locomotive supply order
Gemini-2.5
Order: RITES wins $3.6m export contract to supply in-service Cape Gauge diesel-electric locomotives to a Zimbabwe client.
Impacts: Adds international execution proof; supports pipeline narrative for rail exports and refurbishments.
Market: Shares rose about 6% to 7% on the announcement.
RITES wins $3.6m Zimbabwe order. Your view?
GYAANI HOT TAKES
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