Indian benchmark indices Sensex & Nifty have commenced the session on a powerful note, extending the sharp rally from the previous day. The strong momentum, backed by favourable global cues, has propelled Nifty to a fresh all-time high of 26,296.85, lifted by strong global momentum (as of 10.16 AM, IST).
BSE Sensex also joins the party, scaling a new record high at 86,026.18 (as of 10.16 AM, IST). The current session is particularly critical as it marks the monthly expiry for Sensex contracts.
Source: NSE, BSE
Key Index Performance & Levels
The previous session was marked by a brilliant turnaround, with the Nifty successfully erasing a three-day losing streak through a remarkable 300-point rally.
The Nifty Bank remains a primary growth engine, having registered a fresh high and closing above the significant 59,500 mark. Early indications for the day were strong, with GIFT Nifty Futures trading at 26,422.5 (up 33 points at 8:20 AM, IST), signalling a solid gap-up start.
Source: NSE, BSE, CNBC TV 18, Economic Times
Broader Market and Sectoral Trends
The broader market indices also participated in the upswing, indicating widening market participation:
- Nifty MidCap Index advanced 0.16%
- Nifty SmallCap Index inched up 0.07%
Among sectoral indices, the Nifty Metal index was the leading gainer on the NSE (up over 1.7% in the previous session), followed closely by the Nifty Auto index, which was up 0.35%.
Source: NSE
Policy and Global Drivers
Global market optimism continues to fuel the rally, driven mainly by easing Treasury yields and growing hopes for monetary easing in major economies.
- US Markets: Wall Street indices (S&P 500, Dow Jones, Nasdaq) posted solid advances, rising in the range of 0.7% to 0.8%.
- Monetary Policy: Investors are keenly positioning ahead of the RBI’s final policy meeting of the year (December 3–5, 2025). A 25 bps repo rate cut is widely anticipated, strengthening the case for monetary easing due to consistent downside surprises in headline CPI inflation.
- Global Cues: The US 10-yr Treasury Yield is steady at 4%. European Markets closed higher, and the UK Finance Minister announced a substantial £21.7 Bn fiscal boost.
- Commodities: Oil is trading below $63/bbl as of 9.26 AM, IST, and Gold remains steady as traders weigh US rate-cut prospects.
Source: CNBC TV 18, LOTUSFUNDS
Foreign Institutional Investor (FII) Activity
Foreign Portfolio Investors (FPIs) turned strong buyers in the previous session (Wednesday), investing a significant ₹4,778.03 crore. This influx provided crucial liquidity, although the broader trend for November remains cautious, with FIIs having net sold ₹12,449.39 crore so far this month.
Source: NSEINDIA
Stocks on Spotlight
Traders are watching several stocks closely, particularly after recent corporate developments:
- Asian Paints: Gained 0.45% after its step-down subsidiary, Berger Paints Emirates, announced plans to set up a second manufacturing facility in the UAE with an investment of AED 140 million (~₹340 crore) and an initial capacity of 55,800 KL per annum.
- Havells India: Inched up 0.03% after its board approved acquiring a 26% stake in Kundan Solar (Pali), an SPV focused on developing and operating solar power projects.
Source: CNBC TV 18, Economic Times, Business Standard
The Bottomline
The Indian benchmark indices, the Sensex & Nifty, are set for a high-momentum session with a likely gap-up start, driven by sustained global optimism and expectations of a Fed rate cut. Key global factors, including easing Treasury yields and a significant £21.7 Bn UK fiscal boost, are providing firm support.
Today is crucial as it marks the monthly expiry of Sensex contracts, suggesting heightened volatility is possible as the market challenges record levels. The overall sentiment remains strong, though traders should monitor the technical pullback in the broader markets and keep an eye on specific stocks like Asian Paints.
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