SENSEX down 435 pts, NIFTY50 below 26,100 in noon session; Bajaj Housing Finance, Vodafone Idea among buzzing stocks

The Indian benchmark indices, SENSEX and NIFTY50, continued their downward trend during Tuesday’s afternoon session, weighed down by a decline in banking and financial stocks, muted global cues, and weakness in the rupee.
The rupee briefly fell to a record low of 89.85 against the US dollar in early trade on Tuesday. Furthermore, investors remain on the lookout for the Reserve Bank of India’s December monetary policy meeting.
The SENSEX fell as much as 0.5% to an intra-day low of 85,215.12. Meanwhile, the NIFTY50 touched the session’s low of 26,046.85.
At 12:48 PM, the S&P BSE SENSEX fell by 412.45 points, or 0.48%, to 85,229.45, while NSE’s NIFTY50 was trading at 26,050.05, marking a 125.70 points, or 0.48% decline.
Shares of InterGlobe Aviation (Indigo), which fell 1.63%, contributed to the decline of the NIFTY50 index. It was followed by Eternal (-1.38%), HDFC Life Insurance Company (-1.35%), ICICI Bank (-1.28%), and Bharat Electronics (-1.05%), which were among the top losers.
On the other hand, the top gainers included Asian Paints (1.33%), Dr. Reddy's Laboratories (0.98%), Maruti Suzuki India (0.45%), Cipla (0.49%) and Bharti Airtel (0.45%).
Buzzing stocks on December 2: Check list
Shares of Bajaj Housing Finance declined as much as 9% to a 52-week low of ₹95 apiece on Tuesday, amid news reports that 19.5 crore shares, representing 2.35% equity worth ₹1,890 crore, changed hands at ₹97 apiece via a block deal
On Monday, Bajaj Housing Finance promoter Bajaj Finance said it would divest up to 2% of its equity shares of the company.
As of December 1, Bajaj Finance holds 739 crore equity shares, totalling 88.7% of the total paid-up capital.
“Bajaj Finance Limited, the promoter of the Company, has conveyed to us their intention to sell the Equity Shares to enable us to comply with the requirements of minimum public shareholding,” Bajaj Housing Finance said in a regulatory filing.
Further, Bajaj Finance plans to offload up to 2% of the company’s equity, about 1.66 crore shares, in one or more tranches.
Shares of Vodafone Idea surged as much as 3.93% to an intra-day high of ₹10.32 apiece on the NSE, following reports that the government is awaiting a formal request from Vodafone Idea before moving ahead on any relief measures, adding that the Supreme Court judgment is recent and needs careful evaluation.
According to a CNBC-TV18 report, Union Telecom Minister Jyotiraditya Scindia said, “DoT is waiting for a formal request from Vodafone. The government will make a recommendation after evaluating Vodafone Idea’s proposal.”
The minister noted that the ministry is currently examining the legal boundaries set by the court. “Judgement needs to be evaluated from a point of view of what can be done and what cannot be done. We cannot cross the border of the SC judgement."
Scindia suggested that the government may complete its assessment and issue recommendations within the next couple of weeks, with the details of the relief package likely to be announced by year-end.
Shares of Wockhardt extended gains to the second straight session on December 2, a day after posting its best day in over five years in the previous session. Wockhardt shares rose as much as 6.43% to hit an intraday high of ₹1,566.90 on the National Stock Exchange.
The company on Monday informed exchanges that the United States drug regulator - United States Food and Drug Administration (USFDA) - accepted its new drug application (NDA) for its antibiotic drug Zaynich, marking a transformative moment—not only for Wockhardt, but also for the entire Indian pharmaceutical industry.
Stock of Bharat Dynamics advanced 2% to the session’s high of ₹1,560 per equity share on Tuesday, December 2, as the defence firm bagged a major order from the Indian Army. However, the share slipped into the red during the afternoon’s trading session.
The PSU secured additional orders worth ₹2,461.62 crore since the last disclosure on November 13, 2025. “Major orders received include ATGMs and SAM (Emergency Procurement),” it said in a regulatory filing.
The defence firm added that the ATGM project will be executed over 42 months, while the SAM project is expected to be completed within 12 months.
Share of newly-listed Emmvee Photovoltaic Power rallied as much as 10% to touch the day’s peak of ₹240.76 apiece, trading close to its 52-week high of ₹241.34 per equity share, after reporting its results for the September quarter of the 2025-26 financial year (Q2FY26).
It posted a nearly seven times YoY increase in its net profit to ₹238 crore for Q2FY26. Furthermore, its revenue from operations surged about threefold annually to ₹1,131 crore during the quarter under review.
Hindustan Construction Company’s (HCC) shares soared 14.49% to an intra-day high of ₹27.50 apiece, after it reported the record date for its ₹1,000 crore rights issue fundraiser.
In a regulatory filing on Monday, the company fixed December 5, 2025, as the record date for determining the shareholders eligible to apply for the equity shares in the rights issue.
It also mentioned that it will issue 79.99 crore rights equity shares for an amount aggregating to ₹999.99 crore, assuming full subscription. Furthermore, it set the rights issue price at ₹12.50 apiece, including a premium of ₹11.50 per rights equity share.
“Rights entitlement ratio: The Rights Equity Shares are being offered on a Rights basis to Eligible Equity Shareholders in the ratio of 277 Rights Equity Shares for every 630 fully paid-up Equity Shares held on the record date,” HCC said.
The stock of Bank of Baroda surged as much as 2.84% to a 52-week high of ₹303.95 per equity share on Tuesday, December 2, on the NSE.
The scrip has gained nearly 18% over the past six months and about 25% year-to-date.