New Delhi, Dec. 23 -- The year 2025 marked a phase of healthy consolidation for the Indian stock market after several years of strong gains. Indian benchmark indices, Sensex and Nifty, remained largely range-bound, driven by global uncertainties, uneven earnings delivery, and heightened sensitivity to macro cues.

The biggest highlight of the year that rattled markets worldwide was the tariff action linked to the return of aggressive US trade posturing under the Trump administration. These developments led to bouts of risk-off sentiment, fluctuations in capital flows, and increased volatility across emerging markets, including India.

Yet, supportive economic policies, strong DII buying and robust domestic liquidity helped cushion the imp...