The benchmark indices of the Indian stock market, Sensex and Nifty 50, are set to open higher on Monday after India posted a stronger-than-expected Q2 GDP growth, despite mixed overnight global cues.

Asian markets traded mixed, while US stocks closed higher last week on expectations that the US Federal Reserve may cut interest rates this month.

This week, investors will track major market triggers such as the RBI policy announcement, progress on the India-US trade deal, updates on Russia-Ukraine peace negotiations, auto sales numbers, foreign institutional investment trends, and movements in gold and silver prices, along with other key domestic and global macroeconomic data.

However, on Friday, the Indian market closed flat with a slight negative bias as investors awaited the Q2 GDP release.

Domestic Market Recap

On Friday, Indian indices closed in the red:

• Sensex slumped by 13.71 points (0.02%) to close at 85,706.67
• Nifty 50 moved down by 12.60 points (0.05%) to settle at 26,202.95

Gift Nifty

Gift Nifty was trading near 26,510, around 123 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 higher on Friday, supported by a rebound in technology stocks, even as trading volumes remained thin during the shortened post-Thanksgiving session.

• The Dow Jones Industrial Average gained by 289.30 points (0.61%) to close at 47,716.42.
• S&P 500 up by 36.48 points (0.54%), ending at 6,849.09.
• The Nasdaq Composite was higher by 151 points (0.65%), finishing at 23,365.69

Crude Oil Prices

• Brent crude gained by 0.92% to $62.97/barrel
• US West Texas Intermediate (WTI) crude was trading 0.96% lower at $59.12/barrel

Overnight Major Global Events Driving Sentiment

1. India-US Trade Deal: Commerce Secretary Rajesh Agarwal said that India expects to sign the first tranche of the bilateral trade agreement (BTA) with the United States within this calendar year, according to ANI.
2. India GDP Growth: India’s economy expanded by a stronger-than-expected 8.2% in the July–September quarter, marking a six-quarter high. GDP had grown 7.8% in the previous quarter and 5.6% in the same period last year.
3. Fiscal Deficit: India’s fiscal deficit rose to ₹8.25 lakh crore in the April–October period, reaching 52.6% of the FY26 budget estimate. A year earlier, the deficit stood at ₹7.51 lakh crore, or 46.5% of the target. The central government aims to contain the fiscal deficit at 4.4% of GDP for FY26.
4. OPEC Meeting: OPEC decided to keep oil output unchanged for the first quarter of 2026 during its Sunday meeting. The group has paused production hikes after releasing about 2.9 million barrels per day since April 2025, Reuters reported. OPEC still maintains around 3.24 million bpd of output cuts, equivalent to roughly 3% of global oil demand.

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