Nifty, Sensex Retreat from Record Highs and End in Red; November GST Collection Data Released

Market Update at 3:45 PM: Indian equity benchmark indices closed lower on Monday, December 1, as concerns over foreign fund outflows outweighed optimism stemming from stronger-than-expected economic growth data. The Nifty 50 slipped 27.20 points, or 0.1 per cent, to 26,175.75, while the Sensex fell 64.77 points, or 0.08 per cent, ending at 85,641.90. Both indices extended losses for the second straight session after touching fresh record highs in early trade. India VIX remained steady, indicating stable market sentiment.

The Indian rupee declined to a record low of 89.53 against the USD, pressured by persistent foreign investor selling and uncertainty surrounding the India-US trade deal. Foreign portfolio investors continued their selling streak in November, marking the fourth exit month in the last five. Despite strong GDP growth in the September quarter, the manufacturing sector slowed in November, with industrial activity easing to a nine-month low.

India’s GST revenue for November 2025 rose 8.9 per cent year-on-year to Rs 14,75,488 crore, compared with Rs 13,55,242 crore a year earlier. Sequentially, GST collections increased 0.7 per cent to Rs 1,70,276 crore, according to official data released on Monday.

Among sectoral indices, seven out of eleven ended in positive territory. The Bank Nifty briefly touched the historic 60,000 mark, hitting an all-time high of 60,114.05 before slipping into the red by the close.

The auto index Nifty Auto gained nearly 1 per cent to a record high of 28,075.65, with 11 of its 15 constituents closing higher. TVS Motor surged 3.5 per cent after reporting a robust 30 per cent rise in November sales, supported by nearly 60 per cent growth in exports. Maruti Suzuki advanced 0.92 per cent following a 21 per cent jump in monthly sales, driven by strong demand helped by Tax incentives.

Tata Motors posted a 25.6 per cent rise in passenger vehicle sales, while Hyundai reported close to 9 per cent growth, marking its second monthly increase of the year after September. Both stocks gained nearly 2 per cent. Year-to-date, the Nifty Auto index has risen 22 per cent, outperforming the Nifty 50’s 10 per cent gain.

Broader markets were mixed, with the Nifty Midcap 100 ending largely unchanged, while the Nifty Smallcap 100 closed marginally higher.

Market Update at 2:15 PM: Indian stock markets turned flat on Monday, December 1, after touching fresh record highs during the morning session. The sentiment came even as India’s Q2FY26 gross domestic product (GDP) growth surged to a six-quarter high of 8.2 per cent, reinforcing expectations of economic resilience.

By 2 PM, the BSE Sensex was at 85,666.40, down 40.27 points or 0.05 per cent, while the NSE Nifty50 slipped 19 points or 0.07 per cent to 26,183.95. Earlier in the day, the Sensex had scaled a record high of 86,159 and the Nifty touched 26,325.8.

Several heavyweight stocks supported the indices, with Adani Ports, Bharat Electronics, SBI, Tata Motors PV, Tata Steel, L&T, Trent, HCL Tech, Infosys, Reliance Industries, M&M, NTPC, and Sun Pharma emerging as Top Gainers. These counters advanced up to 1.3 per cent. Meanwhile, ITC, Bajaj Finance, and Titan were the only laggards, declining up to 1.13 per cent.

In the broader markets, the Nifty MidCap index hovered flat with a slight negative bias, whereas the Nifty SmallCap index gained 0.25 per cent. Sectorally, the standout performer was the Nifty Bank index, which soared 0.5 per cent to hit a historic milestone by crossing the 60,000 level for the first time, touching a new peak of 60,114.05. The Nifty Metal and Nifty PSU Bank indices also advanced 0.8 per cent each.

Market Update at 11:15 PM: Indian stock markets opened firm and moved higher on Monday, December 1, as strong macroeconomic data lifted sentiment. The upward move came after India’s Q2FY26 gross domestic product (GDP) growth accelerated to a six-quarter high of 8.2 per cent, boosting confidence across sectors and indices.

By around 11 AM, the BSE Sensex was trading at 85,800, up 93.55 points or 0.11 per cent, retreating slightly from its record high of 86,159 hit earlier in the day. The Nifty50 held steady at 26,234, rising 31 points or 0.12 per cent, after touching a fresh peak of 26,325.8 in early deals.

Large-Cap gainers included Adani Ports, Bharat Electronics, SBI, Tata Motors PV, Tata Steel, L&T, Trent, HCL Tech, Infosys, Reliance Industries, M&M, NTPC and Sun Pharma, advancing up to 1.3 per cent. On the downside, only ITC, Bajaj Finance and Titan traded lower, slipping up to 1.13 per cent.

Broader markets also supported the positive trend. The Nifty MidCap index rose 0.11 per cent, while the Nifty SmallCap index gained 0.39 per cent. Sector-wise, the Nifty Bank index hit a record, crossing the 60,000 mark for the first time and touching 60,114.05, up 0.5 per cent. The Nifty Metal and Nifty PSU Bank indices added 0.8 per cent each, reflecting strength across cyclical segments.

Market Update at 9:50 AM: Indian stock markets opened gap-up on Monday, December 1, as benchmark indices surged to fresh record highs after Q2FY26 gross domestic product (GDP) growth came in at a six-quarter high of 8.2 per cent. Positive cues from Asian markets further supported sentiment.

The BSE Sensex was at Rs 85,994, higher by 288 points or 0.34 per cent, after touching a new peak of Rs 86,159 in early trade. The Nifty50 stood at Rs 26,290, up 87 points or 0.33 per cent, after hitting an all-time high of Rs 26,325.8. Gains were led by Adani Ports, Bharat Electronics, SBI, Tata Motors PV, Tata Steel, L&T, Trent, HCL Tech, Infosys, Reliance Industries, M&M, NTPC, and Sun Pharma, which advanced up to 1.3 per cent.

On the downside, ITC, Bajaj Finance, and Titan were the only laggards, declining up to 1.13 per cent. In the broader markets, the Nifty MidCap index rose 0.27 per cent while the Nifty SmallCap index added 0.52 per cent.

Sector-wise, the Nifty Bank index scaled a record high above the 60,000 mark for the first time, rising 0.4 per cent to touch Rs 60,114.05. The Nifty Metal and Nifty PSU Bank indices also gained 0.8 per cent each. Movements across sectors were supported by domestic flows and global cues, including steady USD trends.

Pre-Market Update at 7:40 AM: India’s equity market is set for a firm start on Monday, December 1, as stronger-than-expected Q2 GDP data lifted sentiment. India posted 8.2 per cent GDP growth for the July–September quarter, touching a six-quarter high. This compares with 7.8 per cent growth in the previous quarter and 5.6 per cent during the same period last year. GIFT Nifty traded near 26,516, showing a premium of around 129 points over the previous Nifty futures close, signalling a strong gap-up opening. Banking and manufacturing stocks are expected to lead the early trade.

Commerce Secretary Rajesh Agarwal noted that India aims to finalise the first phase of its trade agreement with the U.S. before the end of the year. The fiscal deficit for April–October stood at Rs 8.25 lakh crore, or 52.6 per cent of the FY26 target, higher than the Rs 7.51 lakh crore, or 46.5 per cent, recorded a year earlier. The government maintains its fiscal deficit target of 4.4 per cent of GDP for 2025–26.

Global cues were mixed, with Asian markets trading sideways in early hours, while U.S. markets ended higher last week on expectations of a rate cut by the U.S. Federal Reserve. Market participants will track key developments including the RBI policy outcome, India–U.S. trade negotiations, Russia–Ukraine peace discussions, monthly auto sales, foreign investor flows and trends in gold, silver and other global economic indicators.

Foreign Institutional Investors (FIIs) were net sellers on Friday, November 28, offloading equities worth Rs 3,795.72 crore. Domestic Institutional Investors (DIIs) recorded net inflows for the 26th straight session, buying equities worth Rs 4,148.48 crore. On the same day, the Nifty 50 closed 10.70 points lower at 26,202.95, while the Sensex slipped 13.71 points to 85,706.67. India VIX fell below 12, and the Nifty 50 logged its third consecutive weekly gain, up 0.52 per cent. Reliance Industries rose 5.46 per cent in November and is set for a near 14 per cent three-month rise.

In the U.S., stocks moved higher in a low-volume post-Thanksgiving session on Friday. The Dow Jones gained 0.61 per cent to 47,716.42, the S&P 500 advanced 0.54 per cent to 6,849.09 and the Nasdaq climbed 0.65 per cent to 23,365.69. Nvidia declined 1.82 per cent, while AMD, Microsoft and Intel posted gains.

OPEC retained its current production levels for Q1 2026 after adding nearly 2.9 million barrels per day since April 2025. The group continues to withhold around 3.24 million barrels per day, equal to almost 3 per cent of global demand. In response, oil prices moved higher, with Brent at USD 62.97 and WTI at USD 59.12.

The dollar index opened December at 99.42, slightly weaker. Cryptocurrencies saw a sharp decline, with Bitcoin down 3.86 per cent at USD 87,503, Ether lower by 5.09 per cent at USD 2,854, XRP down 5.59 per cent at USD 2.08 and Solana falling 5.01 per cent to USD 128.65.

For today, Sammaan Capital will remain on the F&O ban list.

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