Rupee Fall Shines IT Stocks amid Market Meltdown

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Nifty held crucial support at 25900 with a late surge pulling indices up on Wednesday.

By S JHA

Mumbai, December 3, 2025 — The stock market in India showed signs of a meltdown even while traders drew consolation from Nifty bouncing from the support of 25900. A last hour surge pulled the indices out of deep cuts seen during the day.

The sharp depreciation of Rupee cheered the IT stocks as they signed in trades on Wednesday. Among largecaps, Wipro led the IT rally followed by TCS and Infosys. Small and Mid-sized IT stocks were also in demand on Wednesday.

The IT companies make most of their revenue in dollars. With Rupee losing strength, the Indian currency revenue of the IT companies may get a healthy boost.

StockEdge in its post-Stock Market analysis said that “the close of Nifty 50 at 25,986 indicated a day of steady consolidation rather than a strong trend move.” “The index held firm above the 25,900 support zone, showing buyers stepping in at lower levels,” added the Kolkata-based equity research firm in a post shared on its Telegram channel.

The analyst stated that the “intraday volatility was present, but the market managed to finish near the 26,000 mark, reflecting resilience.” “Broader market (midcaps/smallcaps) stayed mixed, with strength in selective sectors,’ it added.

The Kolkata-based firm also noted that “Nifty IT stocks showed relative strength, supported by currency trends and steady demand.” “Banks, autos, and some PSU-heavy pockets were more subdued, weighing on overall momentum,” it added.

The analyst also stated that “metals, energy, and defensives remained stable.” “Today’s session reflects a pause within an ongoing consolidation phase. The index is holding well, and the next meaningful move depends on whether Nifty breaks above 26,100 or dips below 25,900,” added the analyst.

(Disclaimer: This article makes no recommendation for any kind of trades in the stock market)