Sensex And Nifty Hit Fresh Record Highs On Strong Q2 GDP Data

Trading in the new month began on a buoyant note on Monday, with Indian equity benchmarks scaling fresh record levels following upbeat Q2 GDP data showing 8.2 per cent growth.

By 9:30 AM, the Sensex had risen 291 points, or 0.34 per cent, to 85,997, while the Nifty was up 86 points, or 0.33 per cent, at 26,289.

Broader indices moved largely in step with the headline benchmarks.

The Nifty Midcap 100 gained 0.28 per cent, and the Nifty Smallcap 100 advanced 0.58 per cent.

Top Gainers and Laggards

Among the standout performers in the Nifty basket were SBI, Trent, and Tata Steel. On the other hand, Tech Mahindra, Tata Consumer, Titan Company and Bajaj Finance were among the early laggards.

Sectoral trends on the NSE were mostly positive, barring Nifty FMCG, which slipped 0.31 per cent, and Nifty Chemicals, down 0.08 per cent.

Nifty Metal topped the charts with a 1.02 per cent rise, followed by Nifty Auto with a gain of 0.63 per cent.

Market watchers pointed out an unusual divergence: despite indices touching new highs, many retail portfolios remain below their September 2024 levels due to the rally being concentrated in a limited set of stocks.

Notably, 330 companies within the NSE 500 are still trading under their September peaks.

Analysts believe the robust Q2 GDP performance, driven by strong manufacturing, services, and consumption growth, could keep markets supported.

However, with the economy showing strength, they suggested the RBI’s Monetary Policy Committee is unlikely to cut rates in its meeting on Friday.

US equities posted a positive close overnight. The Nasdaq climbed 0.65 per cent, the Dow Jones added 0.61 per cent, while the S&P 500 saw a mild decline of 0.54 per cent.

Across Asia, China’s Shanghai Composite edged up 0.43 per cent, and Shenzhen increased 0.99 per cent.

Japan’s Nikkei slipped 1.68 per cent, while Hong Kong’s Hang Seng rose 0.77 per cent. South Korea’s Kospi eased 0.12 per cent.

Global oil markets firmed by over 1 per cent, supported by OPEC+’s decision to maintain production levels through the first quarter of 2026 and growing worries about supply stability due to geopolitical tensions.

Meanwhile, trading data from 28 November showed foreign institutional investors offloading equities worth Rs 3,672 crore.

Domestic institutional investors, however, were net purchasers, buying shares worth Rs 3,993 crore.