TLDR
Market Recap: December 10, 2025
On December 10, Indian equities extended losses for a third day as caution ahead of the Fed decision and continued FII selling dragged benchmarks lower. Sensex closed at 84,391 (−275, −0.32%) and Nifty 50 at 25,758 (−81.65, −0.32%). Nifty Midcap 100 fell to 59,008 (−668, −1.12%) and Nifty Smallcap 100 also ended lower, confirming SMID underperformance. Sectorally, metals and media eked out gains while IT, capital goods, realty, consumer durables, and banks slipped 0.5–1%. India VIX hovered near 11, little changed, as DIIs absorbed FII selling (FIIs −₹1,651 crore; DIIs +₹3,752 crore).
Key Drivers :
Fed decision tonight: Markets stayed risk-off before a widely expected 25 bps Fed cut and 2026 guidance.
FII selling vs DII support: FIIs sold ₹1,651 crore while DIIs bought ₹3,752 crore, cushioning indices.
Broader-market pain: Midcaps and smallcaps underperformed sharply, signalling ongoing de-risking beyond index heavyweights.
Today’s Top Stories:
Hindustan Zinc: Silver’s record spike pushed the stock up nearly 5%, reinforcing its exposure to the silver cycle.
Corona Remedies IPO: Corona Remedies closed with 131–137x subscription, signalling red-hot institutional and HNI demand for the pharma issue.
Hospital & Mattress IPOs: Park Medi and Nephrocare saw soft Day-1 bids, while Wakefit’s IPO drew comparatively stronger early interest.
Kaynes / EMS Selloff: A sharp slide in Kaynes Technology triggered another brutal de-rating day for premium EMS stocks.
Ola Electric: Ola Electric has lost about 60% in 2025 as FIIs exit and promoter pledging worries investors.
TOP STORIES
1. Hindustan Zinc Jumps As Silver Hits Fresh Lifetime Highs
Gemini-2.5
Financial performance: Hindustan Zinc rose nearly 5% intraday to around ₹515 on Dec 10, as silver futures and spot prices hit fresh lifetime highs.
Strategic/operational implication: As India’s largest silver producer, the company’s earnings leverage rises meaningfully with industrial silver demand and tight supply driving outperformance versus gold.
Market reaction: The stock is now up about 6% over one month and 15% in 2025, emerging as a key listed proxy for the silver rally.
After today’s spike, is Hindustan Zinc still attractive as a silver play?
2. Park Medi World, Nephrocare, Wakefit IPOs See Mixed Day-1 Demand
Gemini-2.5
Financial performance: As of this evening, Park Medi World was 0.42x subscribed, Nephrocare 0.10x, and Wakefit Innovations 2.46x, on Day 1 of their issues.
Strategic/operational implication: Hospital and healthcare names saw slow institutional traction, while consumer brand Wakefit drew relatively stronger early interest at current pricing.
Market reaction: No listing yet, but subscription splits suggest high selectivity in primary markets, with investors favouring clearer growth visibility and brand strength.
Which theme looks most investable from today’s active IPOs?
3. Corona Remedies IPO Closes With 131-137x Subscription
Gemini-2.5
Financial performance: The ₹655 cr Corona Remedies IPO closed today with overall subscription in the 131-137x range, led by exceptionally strong QIB and NII demand.
Strategic/operational implication: Robust interest underscores appetite for mid-sized domestic pharma names with growth ahead of the industry and margin resilience.
Market reaction: Shares listed next week; the 3-digit subscription multiple has set expectations for a strong listing premium, barring a risk-off macro turn.
Post 130x+ subscription, would you buy Corona Remedies on listing?
4. Kaynes Tech-Led Selloff Hammers EMS Pack
Gemini-2.5
Financial performance: Kaynes Technology plunged 9%, its steepest one-day fall since January, dragging peers Dixon Technologies, Amber Enterprises, and PG Electroplast lower (up to 7.5% intraday).
Strategic/operational implication: The correction follows valuation downgrades and concerns around order visibility, receivables, and working-capital intensity across high-flying EMS names.
Market reaction: After a 40-50% slide in a month for some stocks, brokers are split between “de-rating justified” and “valuation now attractive,” keeping volatility elevated.
Does today’s EMS selloff offer a buying opportunity?
5. Ola Electric Down 60% In 2025 As FIIs Exit, Promoters Pledge Shares
Gemini-2.5
Financial performance: Ola Electric’s stock is down about 60% year-to-date, hitting fresh lows amid continued losses and weaker-than-hoped EV sales.
Strategic/operational implication: FIIs have trimmed stakes while promoters have pledged part of their holding, heightening governance and balance-sheet concerns in a still loss-making franchise.
Market reaction: Domestic mutual funds have selectively added, but the name remains deep in the penalty box, reflecting scepticism on execution and path to profitability.
Would you consider Ola Electric after its 60% drawdown?
GYAANI HOT TAKES
Disclaimer:
The IndiaStox Research Hackathon is intended for educational and community engagement purposes only. Submissions do not constitute investment advice, nor should they be construed as recommendations to buy or sell any securities.
By participating in the IndiaStox Research Hackathon and submitting content, you grant IndiaStox a worldwide, royalty-free, perpetual, and irrevocable license to use, reproduce, modify, publish, distribute, and display your submission, whether in whole or in part, across its digital platforms and in promotional materials. This license extends to both commercial and non-commercial purposes, including content seeding, editorial use, and advertising.
By submitting your work, you confirm that it is your original creation and that you have the right to grant the above license.
