Indian Markets Pre-Market Report Today – Tuesday, 2 December 2025 – For Nifty 50, Bank Nifty, Sensex & key global cues

🌍 Global Cues – Mixed Risk Mood

Indian Markets Pre-Market Report is about global markets is that US markets: After a strong run, Wall Street cooled off on Monday. The Dow fell ~0.9%, S&P 500 ~0.5%, and Nasdaq ~0.4%, as traders booked profits and re-priced expectations for Fed rate cuts later this month.

Asia this morning: Asian markets are mixed to mildly positive. Japan, Australia and South Korea were modestly higher in early trade, while US equity futures are flat, suggesting a cautious but not bearish tone.

Crude oil: Brent is hovering near $63–64 per barrel, slightly lower day-on-day and down over 14% in the past year – a tailwind for India’s inflation and CAD.

Takeaway for India: Global backdrop is not hostile, but it’s no longer one-way bullish either. After record highs last week, Indian indices are likely to stay data-driven and sensitive to news on rates and the rupee.

🇮🇳 Gift Nifty & Early Indications

On the NSE IFSC platform, Gift Nifty (30 Dec 2025) is trading around 26,335 in early deals, almost flat to slightly negative compared with Nifty’s spot close of 26,175.75 on Monday.

👉 This points to a muted to mildly soft opening, with more action expected after local flows and stock-specific news start hitting the tape.

📊 Previous Session Recap – 1 December 2025

Headline indices

Nifty 50: 26,175.75, –27.20 pts (–0.10%)

Sensex: 85,641.90, –64.77 pts (–0.08%)

Bank Nifty: Made a fresh all-time high intraday before profit-booking; closed just below 59,700 (around 59,681).

Markets opened strong on the back of solid GDP data and fresh record highs, but profit-booking at the top pulled both Nifty and Sensex slightly into the red by close. Broader markets (midcap/smallcap) were flat to marginally positive, with a negative advance-decline ratio reflecting stock-specific pressure.

🧩 Sector Snapshot – Who Outperformed?

From Monday’s close:

Gainers Auto, IT, PSU Banks, Metal: up ~0.3–0.5% Laggards Realty: down ~1% Consumer Durables & Pharma: down ~0.5%

This tells you the market is in sector-rotation mode, not broad panic: cyclical and rate-sensitive pockets (auto, PSU banks) are holding up, while defensives like pharma saw mild profit-taking.

📌 Key Levels – Nifty, Bank Nifty & Sensex

Nifty 50 (26,175.75)

Based on Monday’s technical commentary:

Immediate Support: 26,100–26,000 – first demand zone Deeper Support: 25,850 – key structural support from last week.

Resistance: 26,300–26,325 – all-time high zone & strong supply area

A decisive close above 26,325 can re-ignite the uptrend; sustained trade below 26,000 would signal a deeper consolidation.

Bank Nifty (~59,681)

Technical view from the same note:

Support: 59,300–59,200

Major Resistance: 60,000–60,100 – first hurdle Above that, room towards 60,600

Banks remain structurally strong; buy-on-dips near support still makes sense for short-term traders with strict stops.

Sensex (~85,642)

Using recent price action:

All-time high recently near 86,000

Support: ~85,200–85,000

Resistance: Retest of 86,000–86,100

Any dip towards 85k is likely to attract institutional buying as long as macro news doesn’t deteriorate sharply.

📉 Volatility, Derivatives, OI & PCR

India VIX closed around 11.63, near a one-month low, signalling low implied volatility and a “buy-the-dip” mindset in options pricing.

Nifty Put-Call Ratio (PCR) (for the near-month expiry on 2 Dec): PCR OI ~1.21, PCR Vol ~1.34 as of Monday afternoon.

That combination (low VIX + PCR > 1) typically suggests overweight puts / hedges at the lower strikes, which is mildly bullish-to-range-bound unless there is a sudden macro shock.

🇮🇳🤝🇺🇸 Macro: India–US Trade Deal & Rupee

The India–US trade deal is still not finalised. Recent coverage points out that the absence of a deal, together with weak portfolio flows, is pressuring the rupee and keeping policymakers cautious. On Monday, the rupee hit a fresh low near 89.53–89.55 per USD and closed around that zone, despite solid domestic growth numbers.

Market impact today:

A weaker rupee benefits exporters (IT, pharma, select manufacturing) but hurts importers and keeps RBI in focus. Expect currency-sensitive stocks and bond yields to react to any fresh commentary on the stalled trade pact.

💸 FII & DII Flows – Who Bought What?

Provisional cash market data for 1 December 2025:

FIIs: Gross Buy: ₹8,979 crore

Gross Sell: ₹10,150 crore

Net: –₹1,171 crore (net sellers)

DIIs: Gross Buy: ₹13,025 crore

Gross Sell: ₹10,466 crore

Net: +₹2,559 crore (strong net buyers)

Domestic institutions absorbed FII selling comfortably, which helped indices stay close to record highs despite global softness.

📦 IPO Radar – New, Ongoing & Listings

Plenty of primary-market action this week:

Ongoing SME IPOs (still open today) include: Astron Multigrain (BSE SME) – opens 1 Dec, closes 3 Dec, size ~₹18.4 crore.

Clear Secured Services (NSE SME) – ₹85.6 crore issue; open 1–3 Dec.

Speb Adhesives (NSE SME) – ₹34 crore issue; open 1–3 Dec.

Invicta Diagnostic (NSE SME) – ₹28 crore IPO; open 1–3 Dec.

Exato Technologies, Purple Wave, Logiciel Solutions, Ravelcare – SME issues with strong subscription in some names like Exato (high oversubscription).

Opening today (2 Dec 2025): Helloji Holidays (SME) and Neochem Bio Solutions (SME) open for subscription, both to list on BSE/NSE SME platforms.

Upcoming big mainboard names (from tomorrow onwards): Meesho, Aequs Ltd, Vidya Wires mainboard IPOs between 3–5 December, followed by listings around 10 December.

Sentiment: SME space remains very active, with selective oversubscription signalling healthy risk appetite in small-cap/SME names.

🪙 Commodities – Gold, Silver & 🛢️ Crude

Gold (Dec 5 contract, MCX): Around ₹1,26,900–1,27,000 per 10g as of Monday evening, up ~1.1% on the day.

Silver (Dec 5, MCX): Near ₹1,71,800 per kg, up ~5–6% on Monday and flirting with fresh all-time highs in the ₹1.78 lakh zone in intraday trade.

Drivers: Fed rate-cut optimism, softer dollar and strong global silver momentum (industrial + safe-haven demand).

Crude

Brent at ~$63.25.

Implication for Indian markets today:

Falling crude + firm bullion = positive for macros & gold stocks, neutral-to-mild positive for OMCs and paint companies.

💱 Currency Corner – USDINR & Flows

USDINR futures (29 Dec 2025) on NSE: around 89.67. Spot rupee yesterday: ~89.53–89.55 per USD, a fresh low amid weak portfolio flows and delayed trade-deal progress.

If the rupee continues to hover near record lows today, expect:

Exporters (IT, pharma, chemicals) to stay in favour Import-heavy sectors (oil marketing, airlines) to remain choppy

🧭 Strategy View – Short Term vs Long Term

Short-Term Traders (Intraday / Swing)

Treat 26,000 on Nifty and 59,300 on Bank Nifty as key buy-on-dip zones with tight stops. Watch Gift Nifty drift around 26,300 and opening tick in heavyweight banks/IT – they will set the tone for the first hour. Volatility (VIX ~11.6) is low – option buyers should be selective; option writers can focus on range-bound strategies (credit spreads, iron condors) around the 26,000–26,300 band.

Long-Term Investors

Macro mix is still supportive: India’s growth is robust, crude is off highs, and December is historically a decent month for Nifty when FII/DII flows are supportive. Staggered SIP-style buying in: Quality large-cap banks, Autos (where November sales have been strong), Select IT exporters (benefit from weaker rupee) still looks reasonable on corrections.

Indian Markets Pre-Market Report-Dec2,2025