The NSE Nifty 50 added 120 points, or 0.46%, to a record high of 26,326 just days after climbing to its previous record peak of 26,310.45 on November 27. The S&P BSE Sensex rose 360 points, or 0.41%, to open at 86,159.
On the 30-stock Sensex, BEL, Tata Motors Passenger Vehicles, SBI, Tata Steel, and HCL Tech were the top gainers, each rising over a percent. Bajaj Finance, ITC, and Titan Company were the only laggards, down 0.2% each.
The broader market also traded firm, with small-caps and mid-caps opening 0.6 and 0.4% higher, respectively.
The GDP print has beaten all forecasts, revived confidence in domestic demand and reinforced India’s position as a standout market at a time when global cues remain uneven.
Expert views
“The Q2 GDP growth at 8.2% has surpassed all estimates by a wide margin. This smart pick up in growth despite the Trump tariffs indicates a robust economy which can deliver around 7.2% growth in FY26. The standout performance is the 9.1% growth in manufacturing and the 7.3% growth in Gross Fixed Capital Formation. The 7.9% growth in consumption expenditure indicates revival of consumption, which, in turn, can revive investment demand in the economy,” V K Vijayakumar, Chief Investment Strategist at Geojit Investments said.
On the back of these macro trends the market can move up further. The macro numbers are a shot in the arm for bulls. This has the potential to halt sustained FII selling and force them to turn buyers in India, he added.
He also warned that this isn’t a broad-based rally as eight stocks – HDFC Bank, RIL, ICICI Bank, Bharti Airtel, L&T, ITC, Infosys and SBI – have 50% weighting in Nifty. “When 5 or 6 of these heavy weights move up, assisted by a few other stocks, the index rises,” he said.
Global markets
U.S. stocks climbed in a shortened post-Thanksgiving session on Friday, with gains in retail and a rebound in tech lifting the major indices. Improved expectations of a Federal Reserve rate cut in December supported sentiment through the week. The Dow Jones Industrial Average rose 0.61% to 47,716.42, the S&P 500 gained 0.54% to 6,849.09, and the Nasdaq Composite added 0.65% to 23,365.69.
Asian markets opened the final month of 2025 on a steady note, buoyed by U.S. rate-cut optimism ahead of key economic data releases. Investors also factored in the prospect of a near-term rate hike in Japan, helping the yen firm. MSCI’s broadest Asia-Pacific index outside Japan held at 703.19, up 23.5% so far this year and tracking its strongest annual performance since 2017, while Japan’s Nikkei slipped 1.3% in early trade.
Gold eased in early Asian trading on Monday, slipping from a near three-week high as investors locked in profits despite strengthening expectations of a U.S. interest rate cut later this month. Silver, meanwhile, surged to a record peak. Spot gold dipped 0.2% to $4,221.68 per ounce as of 0109 GMT, after touching its highest level since November 13 in the previous session.
FII/DII tracker
On the institutional front, Foreign Institutional Investors (FIIs) sold equities worth Rs 3,795 crore on November 28, while Domestic Institutional Investors (DIIs) were net buyers to the tune of Rs 4,148 crore.
Crude oil impact
Oil prices advanced as much as 1.5% on Monday after OPEC+ reaffirmed plans to pause production increases in the first quarter of next year, while the possibility of U.S. action against Venezuela added to market unease.
Brent crude later trimmed gains but remained up 0.98% at $62.99 a barrel, and U.S. West Texas Intermediate rose 0.99% to $59.12.
Rupee vs Dollar
The rupee opened slightly stronger at 89.44 per dollar on Monday, compared with Friday’s close of 89.46.
