The Indian stock market benchmark indices, Sensex and Nifty 50, are set to open higher on Monday, driven by improved overnight sentiment after the BJP-led NDA secured a decisive victory in the Bihar elections. This outcome is expected to strengthen the coalition government at the Centre.

Asian markets traded in a mixed manner, and US markets also closed mixed last week, with the Nasdaq ending higher due to gains in technology stocks.

However, this week, market participants will closely track major triggers, including the FOMC meeting minutes, progress on the India-US trade deal, foreign fund inflows, movements in gold prices, and other important global and domestic macroeconomic indicators.

Moreover, on Friday, the Indian market closed higher after rebounding from the day’s lows.

Domestic Market Recap

On Friday, Indian indices closed in the green:

• Sensex gained by 84.11 points (0.10%) to close at 84,562.78
• Nifty 50 moved up by 30.90 points (0.12%) to settle at 25,910.05

Gift Nifty

Gift Nifty was trading near 26,017, around 66 points higher than the previous Nifty futures close, hinting at a positive start for Indian markets.

Overnight Wall Street Performance

The US stock market closed mixed on Friday as investors worried that the Federal Government might wait on cutting interest rates in December. 

• The Dow Jones Industrial Average slumped by 309.74 points (0.65%) to close at 47,147.48.
• S&P 500 slipped by 3.38 points (0.05%), ending at 6,734.11.
• The Nasdaq Composite was higher by 30.23 points (0.13%), finishing at 22,900.59.

Overnight Major Global Events Driving Sentiment

1. Bihar Election Results: The BJP-led NDA swept the Bihar Elections 2025 with a historic landslide, winning 202 out of 243 seats, while the Mahagathbandhan managed to secure only 35 seats.
2. Trump Tariffs: US President Donald Trump signed an executive order rolling back tariffs on several imported agricultural products that the US does not produce in sufficient quantities. The list includes items such as beef, coffee, avocados, and coconuts.
3. Russia Sanctions: President Trump announced that Republicans are preparing legislation to sanction any country conducting business with Russia, and he indicated that Iran may also be added to the list. He said he would support the sanctions package currently being discussed in the Senate.
4. US–China Trade Deal: Treasury Secretary Scott Bessent said he is “hopeful” that the rare earths agreement between the US and China will be finalised by Thanksgiving. His statement follows last month’s framework deal, under which the US agreed to hold off on imposing 100% tariffs on Chinese imports, and China agreed to delay its export licensing rules for critical rare earth minerals and magnets.

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