Indices may start muted on Dec 02, 2024

2 Dec 2024 , 08:25 AM

Indian benchmark indices, Nifty and Sensex likely to have muted start on the D-street. The GIFT Nifty was trading around 26 points down this morning at 24,355.5. Markets are expected to react to the weak Q2 GDP data in today’s trade. The GDP growth stood at 5.4%, falling short of the expected 6.5%.

After a sharp decline on November 28, Indian benchmark indices rebounded on November 29. The Nifty began the December F&O series above 24,100, supported by buying in major stocks and most sectors, except realty and PSU banks.

By the close, the Sensex gained 759.05 points (0.96%) to end at 79,802.79. Meanwhile, the Nifty rose 216.90 points (0.91%) to finish at 24,131.10.

Global Markets:

Asian stocks edged higher as US markets closed positively on Friday, entering a seasonally strong period for global equities. The euro weakened due to tensions surrounding the French budget.

US trading volumes were light following the Thanksgiving holiday, with stocks and bonds closing early. Most month-end adjustments were completed before the holiday.

The S&P 500 gained 0.56% with a 5.14% increase. The Nasdaq rose 0.83% on Friday, securing a 6.2% monthly gain.