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Indian equity investors should approach the week of 29 Nov'05 Dec 2025 with cautious optimism. Domestic fundamentals received a strong boost as National Statistics Office data showed India's real GDP surged 8.2% year-on-year in Q2 FY26, driven by a 9.1% jump in manufacturing and 9.2% growth in services. Meanwhile, global markets remain buoyant as expectations of a rate cut from the Federal Reserve (Fed) keep rising ' a dynamic that shone through with an across-the-board rally in equities and a drop in U.S. treasury yields. That said, persistent foreign outflows and a weak rupee continue to exert pressure on FII sentiment and import costs. Given these mixed signals, investors may find value in rate-sensitive sectors and domestically oriented mid-caps, while keeping a close eye on currency volatility and global risk sentiment. In India, the final print for the HSBC Manufacturing PMI for November 2025 would be announced on Monday (01 December 2025). The HSBC India Manufacturing PMI fell to 57.4 in November 2025 from October's 59.2. This indicates the slowest improvement in factory activity since February, though the sector remained comfortably above its long-run average. On Wednesday (03 December 2025), the final value for the HSBC Services PMI for November 2025 would be released. The The HSBC India Services PMI rose to 59.5 in November 2025, up from October's five-month low of 58.9, preliminary estimates showed. The HSBC Composite PMI for November 2025 would also made public on the same day. The HSBC India Composite PMI was down to 59.9 in November 2025 from a final 60.4 in the previous month, pointing to the lowest level since May, flash data showed. Even so, it remained well above the long-run average of 54.9. On Friday (05 December 2025), the RBI would announce its latest monetary policy. The Reserve Bank of India (RBI) kept its key repo rate unchanged at 5.50% during its October 2025 meeting, in line with market expectations. The decision comes amid easing inflation, as the central bank assesses the impact of earlier rate cuts and recent tax reductions, against a backdrop of global trade uncertainties. The repo rate remains at its lowest level since August 2022, following a cumulative 100 basis point reduction since the beginning of the year. In China, the NBS Manufacturing PMI for November 2025 would be announced on Sunday (30 November 2025). On Monday (08 December 2025), the RatingDog Manufacturing PMI for the month of November would be made public. The The RatingDog China General Manufacturing PMI fell to 50.6 in October 2025 from September's six-month high of 51.2, missing market consensus of 50.9. In the United States, the ISM Manufacturing PMI for the month of November would be unveiled on Monday (01 December 2025). The ISM US Manufacturing PMI fell to 48.7 in October 2025 from 49.1 in September, indicating an eighth consecutive month of contraction in the manufacturing sector. On Wednesday (03 December 2025), the API Crude Oil Stock Change for the week ended on 28 November 2025 would be unveiled. US crude oil inventories decreased by 1.9 million barrels in the week ending 21th November 2025, following a 4.4 million-barrel build the previous week. This was the first draw after three straight weekly builds in inventories. The ADP Employment Change for the month of November would be released on the same day. Private businesses in the US added 42K jobs in October 2025, rebounding after an upwardly revised 29K jobs cut in September. Private employers added jobs in October for the first time since July, but the bounce wasn't broad-based. Wednesday would also see the release of ISM Services PMI for November 2025. The ISM Services PMI rose to 52.4 in October 2025 from 50 in September, pointing to the strongest expansion in the services sector since February. On Thursday (04 December 2025), the Balance of Trade data for the month of September would be made public. The US trade deficit narrowed to $59.6 billion in August 2025 from $78.2 billion in July, compared to forecasts of a $61 billion gap. On Friday (05 December 2025), the preliminary reading for the Michigan Consumer Sentiment for December would be released. The University of Michigan's consumer sentiment index rose slightly to 51.0 in November, up from a preliminary 50.3, following the end of the federal shutdown. Powered by Capital Market - Live

The headline equity barometers slipped marginally today, halting a two-day winning streak, as profit booking at elevated levels overshadowed the upbeat Q2 GDP print, which showed the economy expanding by a solid 8.2%. Mixed global signals also kept investors on the sidelines. The Nifty settled below the 26,250 mark. Oil & gas, realty and IT stocks declined, while auto, pharma and media advanced. The S&P BSE Sensex declined 13.71 points or 0.02% to 85,706.67. The Nifty 50 index lost 12.60 points or 0.05% to 26,202.95. In the broader market, the S&P BSE Mid-Cap index shed 0.04% and the S&P BSE Small-Cap index fell 0.13%. The market breadth was negative. The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, fell 1.69% to 11.59. Economy India's real GDP is estimated to grow by 8.2% in Q2 of FY 2025-26 against the growth rate of 5.6% during Q2 of FY 2024-25, according to the data released by the National Statistics Office (NSO), Ministry of Statistics and Programme Implementation (MoSPI). Nominal GDP has witnessed a growth rate of 8.7% in Q2 of FY 2025-26, MoSPI reported. Real GDP has registered an 8.0% growth rate in H1 (April-September) of FY 2025-26, as compared to the growth rate of 6.1% in H1 of FY 2024-25. The secondary (8.1%) and tertiary sectors (9.2%) have boosted the real GDP growth rate in Q2 of FY 2025-26 to rise above 8.0%. Manufacturing (9.1%) and construction (7.2%) in the secondary sector have registered above 7.0% growth rate at constant prices in this quarter. Financial, Real Estate & Professional Services (10.2%) in the tertiary sector has sustained a substantial growth rate at constant prices in Q2 of FY 2025-26. Agriculture and Allied (3.5%) and Electricity, Gas, Water Supply, and Other Utility Services (4.4%) have seen moderated real growth rates during Q2 of FY 2025-26. Real Private Final Consumption Expenditure (PFCE) has reported a 7.9% growth rate during Q2 of FY 2025-26 as compared to the 6.4% growth rate in the corresponding period of the previous financial year. Numbers to Track: The yield on India's 10-year benchmark federal paper was up 0.23% to 6.528 as compared with previous close 6.513. In the foreign exchange market, the rupee edged lower against the dollar. The partially convertible rupee was hovering at 89.4200 compared with its close of 89.3625 during the previous trading session. MCX Gold futures for 5 December 2025 settlement rose 0.41% to Rs 1,26,021. The United States 10-year bond yield rose 0.35% to 4.010. In the commodities market, Brent crude for January 2025 settlement added 29 cents or 0.46% to $63.42 a barrel. Global Markets: European markets traded mixed on Friday, with investors digesting a volatile month marked by sharp swings in tech valuations and shifting monetary-policy expectations. Asian markets ended mixed as U.S. stock futures stayed flat over Thanksgiving Day, leaving the Nasdaq Composite on track to end a seven-month winning streak. Traders in Asia will parse fresh economic data, including Tokyo's inflation print, a leading indicator of Japan's broader price trends. Headline inflation in Japan's capital eased to 2.7% in October from 2.8% the month before. Core inflation, which strips out prices of fresh food but includes energy prices, came in at 2.8%, slightly higher than the widely reported 2.7% figure. This was above the central bank's 2% target, boosting the case for a near-term rate hike. Overnight in the U.S., all three major indexes were little changed. Dow Jones Industrial Average futures rose just 10 points. S&P 500 futures and Nasdaq-100 futures traded just above the flatline. Stocks are on pace for a losing month when trading resumes on Friday. A pullback in tech stocks has weighed on the major averages in November, as doubt swirled around the future profitability of AI companies. Yet some investors are hopeful that this month's slide will signal a year-end rally for the major averages, as they step in to buy stocks that have been unduly punished at more attractive valuations. U.S. markets were closed Thursday for Thanksgiving Day. The stock market will close early at 1 p.m. ET on Friday. New Listing: Shares of Sudeep Pharma were at Rs 771.60 on the BSE, representing a premium of 30.12% as compared with the issue price of Rs 593. The stock was listed at Rs 733.95, exhibiting a premium of 23.77% to the issue price. The stock has hit a high of 795.80 and a low of 726. On the BSE, over 48.86 lakh shares of the company were traded in the counter. Stocks in Spotlight: Tanfac Industries rallied 5.08% after the company received a contract from Krishna Organics, based in Vadodara, to supply solar-grade diluted hydrofluoric acid. The contract, which spans up to the financial year 2028-29, is valued at an estimated Rs 336 crore, exclusive of GST. The order will be executed over 3.5 years as per mutually agreed specifications between both parties. One 97 Communications advanced 2.18% after a global research house reportedly upgraded the scrip to 'buy' from 'neutral' and sharply increased its target price to Rs 1,570, which is more than double its previous estimate of Rs 705. Voltamp Transformers rallied 1.42% after the company secured a domestic contract from Gujarat Energy Transmission Corporation (GETCO) to design, manufacture, test, and supply multiple ratings of power transformers. The order, valued at approximately Rs 149 crore, is scheduled for execution within six months. Ceigall India climbed 2.93% after the company announced that it has emerged as the lowest bidder (L1) from Madhya Pradesh Road Development Corporation for a highway construction project in Madhya Pradesh (MP). Bandhan Bank rose 0.43%. The company said that its board has considered and approved the proposal for the sale of identified non-performing assets (NPA) and written-off portfolios of the bank through a bidding process with asset reconstruction companies (ARC). Refex Industries rallied 8.23% after the company received an order from a large business conglomerate for excavation, loading, and transportation of pond ash/bottom ash. The said order is valued at Rs 100 crore and is expected to be completed within 4 months. Oriental Rail Infrastructure rose 0.43%. The company has bagged a contract worth Rs 25,545,135.60 from North Western Railway, Indian Railways, for the manufacture & supply of 726 coupler bodies with shank wear plates used in freight wagons. Ashoka Buildcon declined 3.45% after the National Highways Authority of India (NHAI) temporarily suspended the company from participating in ongoing/future bids for one month or until an expert committee completes its investigation. SEPC declined 1.86%. The company said that it has bagged an AED 35,000,000 (Rs 85 crore) contract through its UAE arm, SEPC FZE, for a strategic energy infrastructure upgrade project in the United Arab Emirates.Powered by Capital Market - Live

India's real GDP is estimated to grow by 8.2% in Q2 of FY 2025-26 against the growth rate of 5.6% during Q2 of FY 2024-25, according to the data released by the National Statistics Office (NSO), Ministry of Statistics and Programme Implementation (MoSPI). Nominal GDP has witnessed a growth rate of 8.7% in Q2 of FY 2025-26, MoSPI reported. Real GDP has registered 8.0% growth rate in H1 (April-September) of FY 2025-26, as compared to the growth rate of 6.1% in H1 of FY 2024-25. The Secondary (8.1%) and Tertiary Sector (9.2%) has boosted the Real GDP growth rate in Q2 of FY 2025-26 to rise above 8.0%. Manufacturing (9.1%) and Construction (7.2%) in the Secondary Sector, has registered above 7.0% growth rate at Constant Prices in this quarter. Financial, Real Estate & Professional Services (10.2%) in the Tertiary Sector has sustained a substantial growth rate at Constant Prices in Q2 of FY 2025-26. Agriculture and Allied (3.5%) and Electricity, Gas, Water Supply and Other Utility Services Sector (4.4%) has seen moderated Real growth rate during Q2 of FY 2025-26. Real Private Final Consumption Expenditure (PFCE) has reported 7.9% growth rate during Q2 of FY 2025-26 as compared to the 6.4% growth rate in the corresponding period of previous financial year.Powered by Capital Market - Live

The Nifty December 2025 futures closed at 26,396, a premium of 193.05 points compared with the Nifty's closing at 26,202.95 in the cash market. In the cash market, the Nifty 50 index shed 12.60 points or 0.05% to 25,202.95. The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, fell 1.42% to 11.62. Gail India, Adani Enterprises and Mahindra & Mahindra were the top-traded individual stock futures contracts in the F&O segment of the NSE. The November 2025 F&O contracts will expire on 30 December 2025. Powered by Capital Market - Live

Mahanagar Gas announced that ICRA has reaffirmed/ assigned the rating ICRA AAA; Stable / ICRA A1+ to the company's bank facilities of Rs 2,025 crore. Powered by Capital Market - Live

Ather Energy has approved the grant of 24,231 Employee Stock Options (ESOPs) under Ather Energy ESOP 2025 (ESOP Plan) to the eligible employees of the Company on 28 November 2025. Powered by Capital Market - Live

Marsons has received a letter of award/ purchase order worth Rs 13.46 crore from LC Infra Projects for supply of Inverter Duty Transformers.Powered by Capital Market - Live

Tube Investments of India announced that ICRA has reaffirmed the credit ratings on various debt facilities of the company at ICRA AA+; Stable/ ICRA A1+. Powered by Capital Market - Live

Nifty PSE index ended down 0.65% at 9744.3 today. The index is down 3.00% over last one month. Among the constituents, GAIL (India) Ltd shed 4.19%, Bharat Petroleum Corporation Ltd dropped 1.54% and Power Grid Corporation of India Ltd fell 1.37%. The Nifty PSE index is down 4.00% over last one year compared to the 9.57% surge in benchmark Nifty 50 index. In other indices, Nifty Auto index added 0.62% and Nifty Pharma index gained 0.59% on the day. In broad markets, the Nifty 50 has dropped 0.05% to close at 26202.95 while the SENSEX has dropped 0.02% to close at 85706.67 today.Powered by Capital Market - Live

Engineers India announced that the Board of Directors of the Company at its meeting held on 28 November 2025, inter alia, have recommended the interim dividend of Rs 1 per equity Share (i.e. 20%) , subject to the approval of the shareholders.Powered by Capital Market - Live