On Monday, December 1, the Sensex and Nifty 50 are expected to open gap-up following the release of better-than-expected Q2 FY26 GDP data on Friday. In Q2 FY26 GDP growth came in at 8.2%, the above estimate print is expected to attract the attention of both domestic and foreign investors. Banking and manufacturing stocks are expected to outperform the other sectors.
GIFT Nifty hovered near the 26,516 mark, showing a premium of about 129 points over the previous close of Nifty futures. This signalled a strong gap-up opening for the Indian equity indices.
Commerce Secretary Rajesh Agarwal stated that India aims to finalise the first segment of its bilateral trade agreement with the US before the end of the year, according to reports.
India’s economy expanded 8.2% in the July–September quarter, hitting a six-quarter peak. This compares with 7.8% growth in the previous quarter and 5.6% during the same period last year.
The fiscal deficit for April–October stood at ₹8.25 lakh crore, or 52.6% of the FY26 target. This is higher than the ₹7.51 lakh crore (46.5% of the estimate) recorded a year earlier. The government aims for a fiscal deficit of 4.4% of GDP for 2025–26.
In early trade, Asian markets traded mixed, while the US stock market ended higher last week, amid expectations of an interest rate cut by the US Federal Reserve this month.
Market participants will track several major market drivers this week. Key focus areas include the RBI’s policy announcement, updates on the India–US trade negotiations, progress in the Russia–Ukraine peace discussions, monthly auto sales figures, movements in foreign investor flows, and the overall direction of gold, silver, and other important domestic and global economic indicators.
On Friday, November 28, Foreign Institutional Investors (FIIs) were net sellers, selling equities worth ₹3,795.72 crore. Domestic Institutional Investors (DIIs) continued their positive stance, buying equities worth ₹4,148.48 crore, marking their 26th consecutive session of net inflows.
Indian equity benchmark indices closed with marginal losses on Friday. The Nifty 50 slipped 10.70 points or 0.05% to 26,202.95, while the Sensex fell 13.71 points or 0.02% to 85,706.67. Both indices hovered near record highs from the previous session. India VIX declined nearly 1.5% to below 12, and the Nifty 50 logged its 3rd straight weekly gain, up 0.52%.
Reliance Industries gained 5.46% in November.
Sector-wise, 7 of 11 indices advanced, while Nifty IT, Nifty Realty, Nifty Financial Services and Nifty Energy ended in the red. Broader markets ended lower.
US stocks inched higher in a low-volume, post-Thanksgiving session on Friday, supported by a rebound in technology counters.
The Dow Jones Industrial Average rose 0.61% to 47,716.42, the S&P 500 advanced 0.54% to 6,849.09, and the Nasdaq Composite added 0.65% to finish at 23,365.69.
For the week, the S&P 500 climbed 3.73%, the Nasdaq gained 4.91%, and the Dow moved up 3.18%.
Among key movers, AMD increased 1.49%, Microsoft added 1.32%, and Intel surged 10.28%. Tesla was also marginally higher, rising 0.84%.
OPEC decided to maintain current oil production levels for the first quarter of 2026. The group has halted output increases after adding roughly 2.9 million barrels per day since April 2025. It continues to hold back about 3.24 million bpd, equal to nearly 3% of global demand.
Oil prices moved higher after OPEC reinforced its stance on pausing production hikes. Brent crude traded 0.95% higher at $62.97 per barrel, while WTI futures were up 0.96% at $59.12.
The dollar opened in December slightly weaker, with the index at 99.42.
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