GIFT Nifty:

The GIFT Nifty December futures contract is trading 70.50 points lower, indicating a negative opening for the Nifty 50.

Institutional Flows:

Foreign portfolio investors (FPIs) sold shares worth Rs 4,383.55 crore, while domestic institutional investors (DIIs) were net buyers to the tune of Rs 5,723.34 crore in the Indian equity market on 29 November 2024, provisional data showed.

According to NSDL data, FPIs have sold shares worth Rs 39315.78 crore in November 2024.

Global Markets:

The Dow Jones index futures were down 78 points, signaling a negative opening for U.S. stocks today.

Most Asian stocks advanced after US shares rose Friday as global markets enter a seasonally strong period.

Meanwhile, Chinese economic data pointed to a mixed picture. The country's factory activity expanded in November as the official manufacturing index picked up. However, the non-manufacturing sector slipped slightly. The value of new home sales fell last month from a year earlier to 363 billion yuan ($50 billion), reversing October gains. The stock market benchmark—CSI 300—closed Friday's session with gains of 1.14%.

US stock indices surged to record highs on Friday, driven by positive economic indicators and expectations of a Federal Reserve rate cut in December.

The S&P 500 rose 0.6% to a record high of 6,032.4 points, while the Dow Jones Industrial Average rose 0.4% to a peak of 44,910.65 points. The NASDAQ Composite rose 0.8% to 19,218.17 points, but remained below recent record highs.

Trump on Sunday threatened to impose “100% tariffs” on the BRICS bloc of countries, which includes China. Trump criticized the bloc’s attempts to form its own currency and shift away from the U.S. dollar, threatening to cut the bloc off from U.S. trade over the move. He called for commitments to the dollar from the bloc.

Domestic Market:

The domestic equity benchmarks staged a recovery on Friday, rebounding from the previous session's decline. A surge in pharma, infrastructure, and energy stocks buoyed market sentiment, pushing the Nifty index above the 24,100 level. However, analysts remain cautious, citing ongoing FII selling as a significant headwind. They advise investors to adopt a wait-and-watch approach and avoid aggressive buying until a clearer market trend emerges.

The S&P BSE Sensex soared 759.05 points or 0.96% to 79,802.79. The Nifty 50 index gained 216.95 points or 0.91% to 24,131.10.