The domestic equity indices trade with major losses in early trade dragged down by renewed uncertainty over a potential U.S. trade deal and heightened caution ahead of the U.S. Federal Reserve's interest-rate decision. The Nifty traded below the 25,800 level. All the sectoral indices traded in red with media, IT and auto shares losing the most.

At 09:30 IST, the barometer index, the S&P BSE Sensex, dropped 473.97 points or 0.56% to 84,628.72. The Nifty 50 index tanked 168.95 points or 0.64% to 25,791.20.

The broader market underperformed the frontline indices. The S&P BSE Mid-Cap index tanked 1.08% and the S&P BSE Small-Cap index fell 1.30%.

The market breadth was weak. On the BSE, 850 shares rose and 2,324 shares fell. A total of 154 shares were unchanged.

Foreign portfolio investors (FPIs) sold shares worth Rs 655.59 crore, while domestic institutional investors (DIIs) were net buyers to the tune of Rs 2,542.49 crore in the Indian equity market on 8 December 2025, provisional data showed.

Stocks in Spotlight:

Fujiyama Power Systems added 2.84% after the company reported a 97.4% rise in standalone net profit to Rs 62.9 crore in Q2 FY26 as against a net profit of Rs 31.9 crore in Q2 FY25. Revenue from operations surged 72.6% to Rs 567.9 crore in Q2 FY26 over Rs 329.1 crore in Q2 FY25.

Physicswallah jumped 3.71% after its consolidated net profit rose 62.4% to Rs 72.3 crore in Q2 FY26 as against Rs 44.5 crore in Q2 FY25. Revenue from operations jumped 26.3% to Rs 1,051 crore as against Rs 832 crore posted in Q2 FY25.

Shriram Finance shed 0.99%. The company announced that its board has approved the allotment of 7,500 NCDs to raise Rs 150 crore on a private-placement basis, including a green-shoe option of Rs 100 crore.

Numbers to Track:

The yield on India's 10-year benchmark federal paper jumped 0.08% to 6.572 compared with previous session close of 6.567.

In the foreign exchange market, the rupee edged lower against the dollar. The partially convertible rupee was hovering at 90.0900 compared with its close of 90.0500 during the previous trading session.

MCX Gold futures for 5 February 2025 settlement shed 0.01% to Rs 129,950.

The US Dollar Index (DXY), which tracks the greenback's value against a basket of currencies, was down 0.06% to 99.06.

The United States 10-year bond yield fell 0.05% to 4.171.

In the commodities market, Brent crude for February 2025 settlement shed 12 cents or 0.19% to $62.37 a barrel.

Global Markets:

Asian shares swung between mild gains and losses on Tuesday as traders in the region treaded carefully ahead of the Federal Reserve's policy call. A quarter-point rate cut is widely expected, but the real suspense lies in what the Fed signals about the health of the world's largest economy.

Chinese markets moved sideways as investors parsed fresh promises of fiscal support from the Politburo, which met on Monday. Local reports suggested Beijing intends to step up government spending and maintain its 5% GDP growth target for 2026. The policy comfort was tempered by lingering worries over a bruising property downturn, weak consumer demand and a sharp slowdown in capital investment, keeping sentiment muted.

Chip stocks across Asia were largely steady after U.S. President Donald Trump said NVIDIA would be permitted to sell a more advanced AI chip in China, though the product will carry a 25% tariff. The reaction among Chinese chipmakers was mixed.

Overnight in the U.S., equities pulled back as investors took some money off the table before the Fed meeting. The S&P 500 slipped nearly 0.4% to 6,846.51, the NASDAQ Composite eased 0.1% to 23,545.90 and the Dow Jones Industrial Average fell almost 0.5% to 47,739.32. NVIDIA gained nearly 2.2% in after-hours trade, adding to its main-session advance following Trump's comments on China chip sales.

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