GIFT Nifty indicated that Indian equity indices BSE Sensex and NSE Nifty 50 might see a muted start on Monday despite Asian markets trading on a higher note in early trade hours.
Previously, on Friday, the NSE Nifty 50 closed 217 points or 0.91% higher to settle at 24,131, while the BSE Sensex rose 759 points or 0.96% to finish at 79,803.
Top cues to watch out for –
RBI MPC
The outcome of the next MPC meeting, scheduled between December 4-6 is being eagerly awaited to see how the MPC will decide on policy rates. CPI inflation is rising beyond the MPC’s target inflation band (of 2-6 %), and key heat map indicators signal economic growth slowing down. “Given the rather uncertain global environment and the possible impact on inflation and the fact that currently, inflation has been averaging close to 5.9% in the last two months, a status quo on the repo rate will be the logical outcome from the policy. There could be change in RBI projections for both inflation and GDP as inflation has been higher so far than the RBI forecast for Q3 and GDP growth is expected to be lower in Q2,” said Madan Sabnavis, Chief Economist, Bank of Baroda.
Geopolitical Tension
Ukrainian President Volodymyr Zelenskyy has said that he intends to work directly with US President-elect Donald Trump as Russia intensifies its attack in the war. Zelenskyy has added that he is open to Trump’s ideas which highlights Kyiv’s eagerness to keep the United States, one of its key allies in the war against Russia, on its side. “Of course, we will work with Trump. I want to work with him directly,” Zelenskyy said in an interview with Sky News.
GST Collection
The total gross Goods and Services Tax (GST) revenue grew 8.5% to over Rs 1.82 lakh crore in November as compared to Rs 1.68 lakh crore in the same month a year ago, data released by the finance ministry showed on Sunday. With the November collections, the cumulative gross GST mop-up in the first eight months of FY25 came in at Rs 14.6 lakh crore, 9.3% higher than the corresponding period of FY24.
Asian Markets
Asia-Pacific markets were trading majorly on a higher note. Japan’s Nikkei 225 was down 0.29% at 38,097.
» Read More
