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Indian markets experienced a rally in the first week of December, fueled by foreign investments totaling ₹11,933.59 crores after two months of selling. The Sensex rose by 2.38%, and the Nifty50 increased by 2.26%, with mid-cap and small-cap stocks climbing over 3% for the third consecutive week.
Indian equity markets opened the week on a positive note, with Nifty and Sensex showing marginal gains despite disappointing GDP growth figures for the July-September quarter, which hit a seven-quarter low of 5.4%. Investors are now focusing on the Reserve Bank of India's upcoming actions regarding interest rates, as sectors like mining and manufacturing continue to struggle.
Dalal Street experienced a nearly 1% gain for the week ending November 29, buoyed by easing geopolitical tensions, a strong BJP victory in Maharashtra, and falling oil prices. The market is expected to remain rangebound with a positive bias, focusing on the upcoming RBI policy, US jobs data, and PMI numbers, while the BSE Sensex rose to 79,803 and the Nifty 50 to 24,131. Stability will hinge on economic data, with investors keenly awaiting the RBI's monetary policy decisions.
Indian benchmark indices, Sensex and Nifty 50, are expected to open higher on November 29, following positive cues from GIFT Nifty, which is trading around 24,130. On November 28, the indices faced a volatile session, closing down 1.5%, with the Sensex falling 1,190.34 points to 79,043.74 and the Nifty dropping 360.70 points to 23,914.20 amid F&O expiry and geopolitical tensions.
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