After opening the day on a mildly weak note, Indian benchmark indices slipped further as the session progressed and eventually closed more than 500 points lower.

India's benchmark indices traded in the red on Tuesday, after slipping from fresh record levels in the previous session amid profit-taking and foreign investor selling.

At the closing bell, the BSE Sensex closed lower by 504 points (down 0.6%).

Meanwhile, the NSE Nifty closed 144 points lower (down 0.6%).

Asian Paints, HUL, and Bharti Airtel are among the top gainers today.

Axis Bank, HDFC Bank, and Reliance Industries, on the other hand, were among the top losers today.

The GIFT Nifty was trading at 26,206, down by 153 points at the time of writing.

The BSE MidCap index ended flat, and the  BSE SmallCap index ended 0.5% lower.

Sectoral indices were trading mixed, with stocks in the auto sector, telecom sector, and consumer durables sector witnessing buying. Meanwhile, stocks in the banking sector and the power sector are witnessing selling pressure.

The rupee is trading at 89.94 against the US$.

Gold prices for the latest contract on MCX are trading 0.9% lower at Rs 129,521 per 10 grams.

Meanwhile, silver prices were trading 2.3% lower at Rs 177,863 per 1 kg.
 

Why Swiggy Share Price is Rising

In news from the e-commerce sector, shares of food and grocery delivery platform Swiggy rose 3% on 2 December following reports that the company is preparing to raise up to Rs 100 billion from institutional investors as early as next week.

Bloomberg, citing sources, said Swiggy has shortlisted three banks to manage the share sale: the Indian units of Citigroup, JPMorgan Chase, and Kotak Mahindra Capital.

Swiggy's board had approved plans on 7 November to raise up to Rs 100 bn via a qualified institutional placement, subject to shareholder and regulatory approvals.

The timing and size of the fundraiser may still change, according to sources. With a competitive and dynamic external environment, the company aims to strengthen its capital base to support growth across its food delivery and quick commerce businesses.

The company is known for pioneering the hyperlocal commerce platform in India through its integrated app 'Swiggy'.

Swiggy offers a range of services through five core segments: Food Delivery, Supply Chain and Distribution, Quick Commerce, Platform Innovation, and Out-of-Home Consumption.
 

Wockhardt Shares Surge 27%. What's Driving the Rally?

Moving on to news from the pharma sector, Wockhardt, the pharmaceutical and biotechnology major, saw its shares surge for the second day in a row as the stock staged a sharp rebound from recent weakness.

The rally was triggered by a key regulatory milestone after the company announced that the US Food and Drug Administration (US FDA) has formally accepted the New Drug Application (NDA) for its novel antibiotic Zaynich.

The NDA, originally filed on 30 September 2025, has now been accepted for review-a development the company described as a transformative moment not just for Wockhardt but also for the broader Indian pharmaceutical industry.

Zaynich is a combination of Zidebactam, a ß-lactam enhancer, and Cefepime, a fourth-generation cephalosporin.

Going forward, the company expects to receive US FDA approval by mid-2026. If that happens, Wockhardt will have a patented product in the US market with exclusivity stretching all the way to 2037, a major long-term opportunity.

Wockhardt is an Indian pharma and biotechnology company.

It produces formulations, biopharmaceuticals, nutrition products, vaccines and active pharmaceutical ingredients (APIs).

Wockhardt witnessed a sharp surge in its share price, extending its rally for a second straight session.

The shares of the company jumped nearly 27% in just two days, rising 19% on Monday and adding another 6.5% on Tuesday.
 

Emmvee Photovoltaic Shares Jump 10%

Moving on, the shares of Emmvee Photovoltaic jumped around 10% on 2 December after the company released its results for the second quarter of the financial year 2026. The newly-listed stock has now extended gains for the third consecutive session.

The solar PV module and cell manufacturer had released its results in the post-market hours of 1 December.

For Q2 FY26, revenue from operations grew more than 181% year-on-year, rising to Rs 11,310 million from Rs 4,024 million in Q2 FY25.

EBITDA also recorded a sharp jump of 331% YoY, reaching Rs 3,994 million, while diluted EPS soared 580% YoY to Rs 4.01 during the quarter.

The company reported a consolidated net profit of Rs 2,378.6 million for the July-September period of FY26 - nearly 7 times higher than the Rs 351.2 million profit posted in the same quarter last year.

More By This Author:

Nifty Below 26,200; Sensex Today Trades Lower
Sensex Today Ends Flat; Sun Pharma & Trent Top Losers
Sensex Today Trades Higher; Nifty Above 26,300