GIFT Nifty started Monday on a positive note, opening at 26,498 with a gain of 0.38%. Traders are keeping a close eye on global cues, especially movements in crude oil, gold, and major currencies, to gauge how the market mood may shape through the day.
The Indian markets ended on a flat note on November 28. The Nifty slipped 0.05% and closed just below the 26,200 mark, while the Sensex inched down 0.02%, settling close to 85,700.
Key global and domestic cues to know on December 1, 2025
RBI MPC meeting this week
The RBI’s Monetary Policy Committee, headed by Governor Sanjay Malhotra, will meet from December 3 to 5, with the repo rate decision expected on the final day. The rate has stayed unchanged at 5.5% since August after the central bank cut 100 basis points earlier this year, so the market will be watching for any shift in the policy tone. Given the sharp jump in Q2 GDP to 6-quarter high of 8.2%, the expectations for a rate cut have gained momentum.
Q2 GDP at 6-quarter high
The Q2 GDP numbers came in at GDP rose 8.2% YoY (Q1: 7.8%) even as Nominal GDP rate remained muted at 8.7% YoY (Q1: 8.8%). Consumption continued to outpace capex—a pre-covid trend, suggesting an economy lacking buoyancy. The real GDP strength is at odds with modest growth in several high frequency indicators, including corporate data. According to Nuvama, looking ahead, GST cuts and RBI’s regulatory easing will offer some support, but a global slowdown, likely moderation in government spending and weak incomes could weigh on demand. Given dynamics and incoming data, key brokerage house, Nuvama has raised FY26 real GDP estimates by 50–70 bps to 7–7.5% while trimming Nominal GDP by 20–50 bps to 8–8.5% YoY.
Asian Markets
Asian markets began December with a mixed start on Monday. Japan’s Nikkei 225 slipped 0.47% and the Topix was down 0.27%. In contrast, South Korea’s Kospi inched up 0.26%, and the Kosdaq gained 1.29%. Australia’s S&P/ASX 200, meanwhile, traded flat in early hours.
US market
The Nasdaq Composite closed higher on Friday, rising 0.65% to 23,365.69. The S&P 500 also moved up, gaining 0.54% to finish at 6,849.09. Meanwhile, the Dow Jones Industrial Average added 289.30 points, or 0.61%, to close the day at 47,716.42.
India-US trade talks
India is looking to wrap up a trade deal with the U.S. by year-end, with most issues reportedly resolved, according to the trade secretary. Earlier in November, President Donald Trump said discussions with PM Modi were on track, even as Washington continues to push India on tariff cuts and reduced oil imports from Russia.
US dollar
The US Dollar Index (DXY), which measures the dollar’s value against a basket of six foreign currencies, was 0.12% down at 99.34 on Monday morning. The index evaluates the strength or weakness of the US dollar in comparison to major currencies. The basket contains currencies such as the British Pound, Euro, Swedish Krona, Japanese Yen, Swiss Franc, etc. The rupee appreciated 0.16%, closed at 89.45 to the dollar on November 28.
Crude Oil
Crude oil prices slipped in early Monday trade, with West Texas Intermediate down 0.38% at $59.23 a barrel and Brent crude easing 0.19% to $63.07.
FII, DII data
Foreign investors once again pulled money out of Indian stocks on November 28, selling shares worth about Rs 3,796 crore. In contrast, domestic institutional investors stepped in on the same day, purchasing equities worth around Rs 4,148 crore, provisional exchange data showed.
Gold rate today
In the latest on the yellow metal, the gold rate in Dubai, 24-carat gold was priced at United Arab Emirates dirham (AED) 489.75 per gram, while 22-carat traded at AED 453.50 per gram and 18-carat at AED 372.50 per gram.
As per Goodreturns, in India, the 24-carat gold rate today is Rs 1,29,810/10 gm, while 22-carat gold costs Rs 1,18,990/10 gm. For those preferring 18-carat gold, the price is Rs 97,360 for the same weight.
Top sectors in the last trading session
Non-alcoholic beverages led the market with a rise of a little over 3%, followed by the non-ferrous metals sector, which gained around 1%. The paper sector also moved up, adding about 0.65%, while the automobiles space saw a steady increase of roughly 0.63%.
Best and worst performing business group
The Shapoorji Pallonji Group saw the strongest move with a gain of over 4%, while the L G Balakrishnan and Essel groups also posted healthy rises of around 3%. The Jaipuria Group was up by about 2.7%. On the downside, Indiabulls Group slipped a little over 2%, Essar Group fell nearly 4%, and Ruchi Group dropped a little more than 4%.
