On Tuesday, December 2, the Sensex and Nifty 50 are expected to open flat to slightly negative, tracking a weak handover from Wall Street.
GIFT Nifty hovered near the 26,340 mark, showing a discount of about 20 points over the previous close of Nifty futures. This signalled a cautious opening for the Indian equity indices.
In early trade, Asian markets traded mostly higher, while the US stock market ended lower overnight, amid rising Treasury yields.
India’s industrial activity lost momentum, easing to a 13-month low of 0.4% in October. In contrast, factory output measured by the IIP had grown 3.7% in October 2024.
India’s GST collections for November 2025 rose 8.9% YoY to ₹14.75 lakh crore, while monthly receipts inched up 0.7% to ₹1.70 lakh crore. Domestic GST revenue fell 2.3% MoM to ₹1.24 lakh crore, but GST from imports grew 10.2% to ₹45,976 crore. Net GST revenue stood at ₹1.52 lakh crore (up 1.3% MoM and 7.3% YoY), with refunds down 3.5% YoY to ₹18,196 crore.
On Monday, December 1, Foreign Institutional Investors (FIIs) were net sellers, selling equities worth ₹1,171.31 crore. Domestic Institutional Investors (DIIs) continued their positive stance, buying equities worth ₹2,558.93 crore, marking their 27th consecutive session of net inflows.
Indian markets ended slightly lower on December 1 as concerns over foreign outflows outweighed strong GDP data. The Nifty 50 slipped 0.1% to 26,175.75 and the Sensex dipped 0.08% to 85,641.90, extending losses for a second day after touching fresh highs earlier in the session. The Bank Nifty briefly crossed 60,000 for the first time before easing, while broader markets were mixed. The rupee weakened to a record low of 89.53 amid sustained FPI selling and uncertainty around the India-US trade deal. November’s GST data showed 8.9% YoY growth, though domestic GST collections softened month-on-month.
Strong auto sales lifted sentiment in the automobile sector, pushing the Nifty Auto index up 0.79% to an all-time high of 28,075.65 with 12 of 15 stocks advancing. TVS Motor rallied after a 30% jump in November volumes, led by robust export growth, while Maruti Suzuki gained on a 21% rise in sales supported by tax-cut-driven demand. Tata Motors and Hyundai also reported solid monthly growth of 25.6% and 9%, helping the auto index outperform with a 22% YTD gain, well ahead of the Nifty 50’s 10% rise.
U.S. markets slipped on Monday as rising Treasury yields pressured equities. The Dow Jones Industrial Average dropped 427.09 points, or 0.90%, to 47,289.33. The S&P 500 also eased, losing 36.46 points (0.53%) to finish at 6,812.63, while the Nasdaq Composite dipped 89.76 points, or 0.38%, settling at 23,275.92.
The US manufacturing sector remained in contraction for the ninth consecutive month in November, with the ISM manufacturing PMI slipping to 48.2, compared to 48.7 recorded in October.
Gold retreated on profit-taking after hitting a six-week high in the prior session. Spot gold dipped 0.2% to $4,222.93/oz, while US gold futures for December declined 0.4% to $4,256.30/oz. Silver dropped 1% to $57.40/oz.
The US dollar stayed soft, with the dollar index easing to 99.408.
Disclaimer: The article is for informational purposes only and not investment advice.
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