TLDR
Market Recap: December 02, 2025
On December 02, Benchmark indices extended their pullback, with the Sensex closing at 85,138.27 (-503.63, -0.59%) and the Nifty 50 at 26,032.20 (-143.55, -0.55%). Broader markets held up relatively better, with the Nifty Midcap 100 at 60,909.60 (-0.22%) and Nifty Smallcap 100 at 17,776.45 (-0.55%). Volatility eased as India VIX slipped to 11.12 (-4.39%), even as the rupee hovered near the psychologically important 90-per-dollar mark and traders positioned cautiously ahead of the RBI and US Fed policy outcomes. Foreign investors were net sellers (about Rs 3,642 crore), while domestic institutions absorbed supply with net buying of roughly Rs 4,646 crore.
Key Drivers :
Macro nerves: Weak factory output data, a soft global risk tone, and the rupee flirting with 90 per dollar kept risk sentiment cautious across large caps.
Flow picture: FIIs remained net sellers while DIIs stepped up support, limiting downside but not reversing the index-level correction.
Event overhang: Traders stayed guarded ahead of the RBI policy later this week and the upcoming US Fed decision, capping aggressive sector rotation or bottom-fishing.
Today’s Top Stories:
Bajaj Finance stake sale in BHFL: Parent raises Rs 1,588 crore by offloading nearly 2 % in Bajaj Housing Finance, releasing capital while retaining control.
BoM OFS heavily subscribed: Government’s Bank of Maharashtra share sale sees 4 times subscription, enabling a larger divestment via green shoe.
Tata Comm bets on AI SaaS: Tata Communications acquires 51% of Commotion Inc to accelerate AI-led enterprise customer engagement offerings.
SPARC secures Sezaby PRV: US court backs SPARC’s claim to the Sezaby priority review voucher, adding a monetisable asset to its pipeline.
Biocon biosimilars get go-ahead: Settlement with Amgen clears Biocon Biologics to roll out denosumab biosimilars in Europe from today, boosting its global biosimilar play.
TOP STORIES
1. Bajaj Finance stake sale in Bajaj Housing Finance
Gemini-2.5
Core move: Bajaj Finance raised about ₹1,588 crore by selling nearly 2 percent in Bajaj Housing Finance via a bulk deal.
Why it matters: Unlocks capital while retaining control of a fast-growing housing finance arm.
Market angle: Stock stayed active as investors weighed capital release against near-term supply pressure.
Bajaj Finance raised Rs 1,588 cr by selling nearly 2% in Bajaj Housing Finance. Your take?
2. Bank of Maharashtra OFS heavily subscribed
Gemini-2.5
Core move: Government Bank of Maharashtra OFS was subscribed around 4 times the base size at a ₹54 floor price.
Why it matters: Strong demand allows a larger stake sale and improves free float and liquidity.
Market angle: PSU bank stayed in focus as traders positioned around discounted OFS pricing.
Bank of Maharashtra OFS was subscribed 4x the base size at a discount. How do you see it?
3. Tata Communications buys 51 percent in Commotion Inc
Gemini-2.5
Core move: Tata Communications agreed to acquire 51 percent of Commotion Inc., an AI native enterprise SaaS platform.
Why it matters: Bolsters its digital and customer engagement stack with AI-driven analytics and CX tools.
Market angle: Street is assessing earnings accretion and integration risks before rerating the name.
Tata Comm is buying 51 percent in AI native SaaS firm Commotion Inc. What is your view?
4. SPARC wins US court ruling on Sezaby PRV
Gemini-2.5
Core move: SPARC secured a US court judgment in its favour on the priority review voucher linked to Sezaby.
Why it matters: Confirms ownership of a valuable PRV that can be monetised or used to fast-track a future filing.
Market angle: Stock drew pharma-focused interest as the ruling de-risked part of its US pipeline value.
SPARC secured a US court win on the Sezaby priority review voucher. How does this change your stance?
5. Biocon Biologics clears path for denosumab in Europe
Gemini-2.5
Core move: Biocon Biologics settled with Amgen, enabling launches of denosumab biosimilars in Europe from 2 December 2025.
Why it matters: Expands its global biosimilar footprint in osteoporosis, adding a new revenue leg in regulated markets.
Market angle: Biocon was in focus amid expectations of medium-term biosimilar-driven upside, tempered by pricing and competition risks.
Biocon Biologics can launch denosumab biosimilars in Europe from today. Your positioning?
GYAANI HOT TAKES
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