Indian benchmark equity indices, the BSE Sensex and Nifty 50, opened with a subdued start on Monday
Benchmark equity indices ended the first session of December in positive territory. The BSE Sensex rose by 445.29 points, or 0.56%, to close at 80,248.08. The index fluctuated between 80,337.82 and 79,308.95 during the day.
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Although the Sensex initially dipped below the 80,000 mark in early trade due to India’s September quarter GDP report, which came in significantly below market expectations, and concerns over US President-elect Donald Trump’s threat of imposing 100% tariffs on BRICS nations over the dollar’s dominance in global trade, it eventually regained momentum.
Similarly, the NSE Nifty50 closed at 24,276.05, up 144.95 points, or 0.6%, from its previous close. The index traded within a range of 24,301.70 to 24,008.65 during the session.
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Among the Nifty50 constituents, 31 stocks ended in the green, led by UltraTech Cement, Apollo Hospitals, Grasim, JSW Steel, and Shriram Finance, which saw gains of up to 3.82%. On the other hand, HDFC Life, NTPC, Cipla, SBI Life, and Hindustan Unilever were the top laggards, with losses of up to 2.67%.
Mid and small-cap stocks outperformed the benchmarks, with the Nifty Midcap100 and Nifty Smallcap100 indices gaining 1.08% and 1.04%, respectively. All sectoral indices ended in the green, except for Nifty FMCG and PSU Bank.
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Global Cues
That apart, markets in the Asia-Pacific region were trading mixed. Over the weekend, China’s November manufacturing PMI came in at 50.3 — its highest level since April — beating the 50.2 expected by economists polled by Reuters. The figure was 50.1 in October.
On Monday, the CSI 300 was trading higher by 0.57 per cent, and the Shanghai Composite was ahead by 0.36 per cent. Hong Kong’s Hang Seng index was trading ahead by 0.73 per cent.
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Japan’s benchmark Nikkei 225 was lower by 0.31 per cent, while the broad-based Topix was 0.45 per cent higher.
South Korea’s Kospi rose 0.45 per cent, and the small-cap Kosdaq advanced 0.18 per cent.
Australia’s S&P/ASX 200 was ahead by 0.3 per cent.
Global stock markets had rallied on Friday, with Wall Street crowning November with its biggest monthly gain in a year on post-election growth hopes, while the dollar eased amid prospects for firmer rates in Japan and easing in Europe.
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The S&P 500 rose 0.56 per cent to mark the best monthly gain since November 2023 of 5.14 per cent, while the Nasdaq’s 0.83 per cent rise Friday secured a 6.2 per cent gain for the month, it’s best since May.
