Wall Street ended lower on December 1st, with the Dow down zero point nine percent, S&P five hundred down zero point fifty three percent, and Nasdaq down zero point thirty eight percent, reflecting caution ahead of the Fed's rate decision and broader macroeconomic uncertainty.
Technology and crypto stocks were among the biggest losers, with Bitcoin dropping six point four percent, impacting Coinbase, Robinhood, and MicroStrategy.
Indian ADRs showed mixed performance overnight: HDFC Bank down three point seven five percent, ICICI Bank down two point zero eight percent, Infosys down zero point one seven percent, and Reliance Industries down zero point thirty three percent, signaling caution among global investors regarding India’s financial sector and rupee weakness.
Asian markets opened selectively higher: Nikkei up zero point four percent, Hang Seng up zero point thirty five percent, and Shanghai Composite up zero point sixty five percent, with optimism over potential Fed rate cuts supporting sentiment.
Gift Nifty was trading around the twenty six thousand three hundred zone, indicating a muted to cautiously positive opening for Indian equities, with market trends India closely tied to global cues and RBI policy expectations.
India’s manufacturing PMI slipped to a nine-month low of fifty six point six in November, while the rupee hit a fresh record low, adding pressure on equities and commodities.
The RBI is expected to keep rates unchanged at five point five percent on December fifth, but market catalysts will center on any forward guidance and the potential for synchronized global rate cuts.
Foreign investors continued net selling Indian equities, driven by elevated valuations, a strengthening dollar, and stricter FPI taxation rules, affecting the daily market preview.
Nifty fifty faces immediate resistance at twenty six thousand three hundred to twenty six thousand four hundred twenty, with support at twenty six thousand one hundred to twenty six thousand, and a critical structural base at twenty five thousand eight hundred fifty.
Bank Nifty surged past sixty thousand, with resistance at sixty thousand one hundred and support at fifty nine thousand four hundred to fifty nine thousand, making it a key driver of market trends India.
Crude oil traded near fifty nine dollars per barrel, gold at four thousand two hundred sixty dollars per ounce, and silver at fifty eight dollars per ounce, with commodity moves impacting market updates and inflation expectations.
The daily market preview suggests a range-bound, cautious start, with traders advised to monitor resistance levels and watch for any hawkish Fed commentary as a potential market catalyst.
Market updates highlight the importance of SEBI’s new index options position limits, effective December sixth, for derivatives traders.
Overall, the stock market India remains influenced by strong GDP growth, but profit booking and sector rotation are evident, especially in banking and IT, with broader market trends India pointing to consolidation near record highs.