Indian Benchmark Indices Opens Flat Ahead of Q2FY26 GDP Data Release

Market Update at 9:30 AM: India’s equity benchmarks opened flat on Friday, taking a pause near the record levels hit in the previous session. Traders turned their attention to quarterly growth data due later in the day, with expectations that India’s economy likely remained firm on the back of strong domestic demand.

At 9:15 a.m. IST, the Nifty rose 0.08 per cent to 26,237.45, while the Sensex gained 0.08 per cent to 85,791.55. The previous session saw both indices touch fresh all-time highs, with the Nifty reaching 26,310.45 and the Sensex hitting 86,055.86 before ending the day almost unchanged as foreign investors booked profits.

Market participation was mixed across sectors, with thirteen of the sixteen major sectoral indices recording marginal gains. In the broader market, small-caps and mid-caps opened 0.1 per cent higher, reflecting steady sentiment among investors despite the muted headline movement.

India’s GDP for the July–September quarter is expected to come in at 7.3 per cent, supported by resilient consumer demand and advance production and export activity ahead of upcoming U.S. tariff measures. The data release is likely to guide the next leg of market direction.

Pre-Market Update at 7:40 AM: Indian equity benchmark indices, the Sensex and Nifty 50, are expected to open marginally higher on Friday, November 28, tracking mixed global cues. Gift Nifty traded near 26,419, reflecting a small premium of 14 points over the previous close of Nifty futures, indicating a mildly positive start for domestic markets. Asian markets began mostly lower, while US stock futures traded flat in a holiday-shortened week due to the Thanksgiving closure.

Foreign Institutional Investors were net sellers on Thursday, November 27, offloading equities worth Rs 1,255.20 crore. Domestic Institutional Investors continued to provide support with net inflows of Rs 3,940.87 crore, marking their 25th straight session of buying activity.

On Thursday, Indian markets reclaimed fresh all-time highs, touching levels last seen in September 2024. The Nifty 50 closed at 26,215.55 after hitting a record 26,310.45, and the Sensex ended at 85,720.38 after touching an intraday high of 86,055.86. Financial stocks drove the upward move on expectations of a potential rate cut by the Reserve Bank of India, though some profit-booking emerged near the peak. Broader markets showed a mixed trend, with the Nifty Midcap 100 closing slightly higher and the Nifty Smallcap 100 ending lower.

In the US, equity markets remained closed on Thursday for Thanksgiving, with Friday’s session set to end early at 1 pm ET. Futures movement stayed limited, with Dow Jones futures up 10 points and minor gains seen in S&P 500 and Nasdaq-100 futures.

Russian President Vladimir Putin stated that the peace plan framework being discussed between the US and Ukraine could form a basis for future negotiations, though he noted that Russia is prepared to continue its military operations if talks do not progress.

In Japan, Tokyo’s consumer inflation stayed above the Bank of Japan’s two per cent target for November. The Tokyo core CPI rose 2.8 per cent year-on-year, unchanged from October and close to market expectations.

Gold prices remained firm, supported by expectations of US Federal Reserve rate cuts. Gold traded 0.3 per cent higher at USD 4,171.18 per ounce and is set to record a fourth consecutive monthly gain. Crude oil prices were steady, with Brent crude at USD 63.38 per barrel and WTI at USD 59.02, as benchmarks headed for their longest streak of monthly declines in over two years.

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Disclaimer: The article is for informational purposes only and not investment advice.