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3 min read | Updated on December 02, 2025, 16:21 IST
SUMMARY
InterGrlobe Aviation was top loser in the NIFTY50 index, the stock fell 1.62% to close at ₹5,700 after it informed exchanges that Central GST authorities in Kochi imposed a penalty of ₹117.52 crore on the company after denying input tax credit (ITC) claimed over four financial years.
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The SENSEX ended 504 points lower at 85,138 and NIFTY50 index dropped 144 points to close at 26,032. Image: Shutterstock
The Indian equity benchmarks fell for a third straight session on Tuesday, December 2, dragged down by losses in index heavyweights like HDFC Bank, Reliance Industries, ICICI Bank, Larsen & Toubro, Axis Bank and ITC. The SENSEX fell as much as 589 points and NIFTY50 index touched an intraday low of 25,997.85.
The SENSEX ended 504 points lower at 85,138 and NIFTY50 index dropped 144 points to close at 26,032.
In a regulatory filing, the company said the Joint Commissioner of Central Tax and Central Excise, CGST Kochi Commissionerate has issued a demand order for FY 2018-19 to 2021-22, disallowing ITC availed by the airline and levying the penalty.
The communication from the authority was received on December 1, the airline said.
ICICI Bank (-1.17%), Reliance Industries (-1.14%), HDFC Bank (-1.07%) and Axis Bank (-1.05%) were also among the losers.
On the flipside, Asian Paints was top gainer in the NIFTY50 index, the stock rose 3.15% to close at ₹2,958 after global investment bank UBS said that Asian Paints delivered a double-digit volume growth and better than anticipated earnings in the second quarter of the current financial year despite weak demand environment.
Dr Reddy's Labs (1.3%), Maruti Suzuki (0.92%), Bharti Airtel (0.87%) and SBI Life (0.68%) were also among the gainers.
NIFTY Midcap 100 index declined 0.22% or 133 points to close at 60,910. As many as 62 shares ended lower while 36 ended higher.
Indian Bank was top loser in the NIFTY Midcap 100 index, the stock fell 3.15% to close at ₹859. Coromandel International (-2.31%), 360One Wam (-2.06%), NTPC Green (-2.04%) and HDFC AMC (-1.96%) were also among the losers.
On the other hand, Hitachi Energy India (2.46%), Vodafone Idea (2.42%), Swiggy (2.28%), Glenmark (1.97%) and KEI Industries (1.97%) were top gainers in the NIFTY Midcap 100 index.
NIFTY Smallcap 100 index declined 0.55% or 98 points to close at 17,776. As many as 70 shares in the NIFTY Smallcap 100 index ended lower while 30 closed lower.
Garden Reach Shipbuilders and Engineers (GRSE) was top loser in the NIFTY Smallcap 100 index, the stock fell 4.42% to close at ₹2,614.
Anant Raj (-3.09%), Go Digit (-2.94%), BLS (-2.68%) and HBL Engineering (-2.68%) were also among the laggards in the NIFTY Smallcap 100 index.
On the contrary, Natco Pharma (3.3%), Gland Pharma (2.47%), KEC International (2.41%), Whirlpool India (2.11%) and angel One (1.54%) were top gainers in the NIFTY Smallcap 100 index.
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