Asian stocks traded within tight ranges early Wednesday, mirroring similar moves on Wall Street, as investors awaited fresh catalysts while a rebound in cryptocurrencies lost steam.MSCI Inc.'s gauge of regional shares was little changed as benchmarks in South Korea and Australia swung between gains and losses.

US stocks rose on Tuesday, boosted by gains in bitcoin and technology names, as traders recovered some of the ground lost in the previous session.

Here's a table showing how US stocks performed on Tuesday:

Source: Equitymaster

At present, the BSE Sensex is trading 164 points lower, and the NSE Nifty is trading 66 points lower.

Hindalco, Tech Mahindra and TCS are among the top gainers today.

Titan, Shriram Finance and Max Healthcare, on the other hand, are among the top losers today.

The BSE Midcap index is trading 0.3% lower, and the BSE Smallcap index is trading 0.2% lower.

Sectoral Indices are trading mixed today, with stocks in the power sector and the FMCG sector witnessing selling pressure. Meanwhile, stocks in the IT sector and telecom sector are witnessing a buying spree.

The rupee is trading at Rs 90.02 against the US dollar.
 

IRFC Shares in focus today

Shares of Indian Railway Finance Corporation (IRFC) were in the spotlight on Wednesday, December 3, after the company signed a loan agreement with Sumitomo Mitsui Banking Corporation to raise an external commercial borrowing (ECB) equivalent to $300 million in Japanese yen.

The agreement, signed on December 2 at the bank's GIFT City branch in Gandhinagar, marks IRFC's return to the ECB market after more than three years.

The facility carries a five-year tenure and is benchmarked to the Tokyo Overnight Average Rate (TONAR).

IRFC plans to utilise the proceeds to fund railway-linked projects or other approved initiatives in line with ECB regulations. The company also noted that the facility is unsecured, and the loan amount is yet to be drawn.
 

Adani Enterprises Acquires Trade Castle Tech Park

Adani Enterprises Ltd, the flagship company of the Adani Group, announced on Tuesday that it has completed the Rs 2.3 bn acquisition of Trade Castle Tech Park (TCTPPL), an infrastructure developer with significant land holdings.

The deal follows a share purchase agreement signed on November 21, 2025, between AdaniConneX (ACX)-the 50:50 joint venture between Adani Enterprises and global data-centre operator EdgeConneX-and the existing shareholders of TCTPPL, Shree Naman Developers and Jayesh Shah.

Through this agreement, ACX has acquired 100% stake in TCTPPL.

While the company did not disclose detailed plans, it stated that the acquisition is intended for developing infrastructure facilities. The total purchase consideration amounted to Rs 2.3 billion, as earlier confirmed by Adani Enterprises.

AdaniConneX, formed to build a 1 GW nationwide data centre platform over the next decade, already operates data centres across Chennai, Navi Mumbai, Noida, Pune, and Hyderabad, supporting India's rapidly growing digital and cloud infrastructure ecosystem.
 

Sun Pharma's Greenfield Capacity Expansion Plan

Shares of Sun Pharmaceutical Industries Ltd. are in focus on Wednesday, December 3, after the company announced that its wholly owned subsidiary, Sun Pharma Laboratories, will invest Rs 30 billion to set up a new facility in Madhya Pradesh.

In an exchange filing, the company said the subsidiary's board has approved the proposal to establish a greenfield formulations manufacturing plant in the state.

Separately, on Monday, Sun Pharma launched its global innovative drug Ilumya (Tildrakizumab) in India for treating moderate-to-severe plaque psoriasis. The biologic therapy has been widely endorsed by dermatologists in the US and globally for its safety and efficacy.

Last month, the company's CFO had noted that Sun Pharma's India business is expected to continue outperforming the market, driven by its strong focus on key therapies and brand-building initiatives.

Bajaj Finance Offloads Stake in Bajaj Housing Finance

Bajaj Finance sold 166.6 m shares of Bajaj Housing Finance at Rs 95.3 per share via a block deal on the NSE on Tuesday.

The sale took place at a 9% discount to the previous close of Rs 104.5. With this transaction, the promoter entity offloaded a 2.35% stake worth about Rs 18.9 bn.

Before the sale, promoter holding stood at 88.70%.

Bajaj Housing Finance shares slipped 9% intraday to hit a 52-week low of Rs 95 and eventually closed 7.34% lower at Rs 97.15 on December 2.

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