Nifty, Sensex Set for Gap-Up Opening as Q2 GDP Surges 8.2%

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.