Indian markets off to a flat start:Sensex hovering around 85,300, Nifty above 26,000 mark; media, metal and pharma stocks witness selling pressure

The stock market is trading flat on the last trading day of the week (Friday, December 5). Sensex is up 50 points at 85,316.78, while the Nifty gains 13 points to 26,047 at around 10:30 am. Fifteen of the 30 Sensex stocks and 26 of the 50 Nifty stocks are trading lower. Media, metal and pharma shares are seeing selling pressure, whereas auto, IT and realty stocks are in demand. Asian markets mixed US markets (On December 4 closing) Meesho IPO subscribed 8.28× in two days Today is the final day to apply for Meesho’s IPO. Launched on December 3, it has been subscribed 8.28 times so far, including 9.65 times in the retail category. Two other IPOs—EKS Limited and Vidya Wires—are also open for subscription today. Meesho IPO Exicom Limited IPO Vidya Wires IPO Note: Subscription status is as of 4 December, 7:00 PM On December 4, Foreign Institutional Investors (FIIs) sold shares worth ₹1,944.19 crore in the cash segment, while Domestic Institutional Investors (DIIs) bought shares worth ₹3,661.05 crore. In the first four days of December, FIIs have offloaded ₹9,964.72 crore, whereas DIIs have supported the market with purchases of ₹15,596.33 crore. In November, FIIs sold ₹17,500.31 crore, while DIIs bought ₹77,083.78 crore, indicating strong domestic support for the market. Nifty seen at 29,000 by 2026 Bank of America has set a 29,000 target for the Nifty for calendar year 2026—an 11% rise from current levels. The brokerage expects limited valuation upside and sees the next leg of growth driven by income expansion. Yesterday: Sensex closed 159 points higher at 85,265 On Thursday, December 4, the Sensex ended 159 points up at 85,265, while the Nifty gained 48 points to close at 26,034. 20 of 30 Sensex stocks advanced, and 34 of 50 Nifty stocks closed higher. Auto, IT and realty shares led the gains, while the media index slipped 1.45%.