Market Cues This Week: Q2 GDP, Industrial Production Data Among Major Triggers To Keep A Track

The previous week, domestic equity benchmark indices saw gains for the second week in a row, briefly scaling to new 52-week highs as investors continued to buy on every dip. Sentiment stayed broadly upbeat, supported by stronger Q2 earnings, easing inflation, and renewed optimism around India–US trade discussions.

However, a better-than-expected US non-farm payroll report towards the end of the week reduced hopes of a US Federal Reserve rate cut in December 2025, which weighed on global equities, including India.

At close on November 21, the Sensex stood at 85,231.92, down 400.76 points, or 0.47 per cent. The Nifty 50, however, managed to stay above the 26,000 key level, closing at 26,068.15, down 124 points, or 0.47 per cent.

Key Stock Market Cues To Watch This Week

Here are the cues that are likely to shape investors’ sentiment during the coming week from November 24-28, 2025.

India Q2FY26 GDP Data

The National Statistics Office (NSO) will release India’s gross domestic product (GDP) growth data for the July–September quarter of FY26 on November 28. In the same quarter last year, the economy had grown by 5.60 per cent. In the previous quarter of the current fiscal (Q1FY26), the economy expanded by 7.80 per cent.

US Economic Data

On November 25, the delayed US retail sales report and the producer price index data for the month of September are scheduled for release. These numbers will offer fresh cues on consumer demand and inflationary trends in the world’s largest economy, and could further shape expectations around the Federal Reserve’s policy outlook.

Next, on November 26, initial jobless claims for the week ended November 22, is set to release, which will also be a key data point that could shape the Federal Reserve’s policy outlook.

India Economic Data

Traders will be watching a series of key domestic macroeconomic indicators scheduled for release on November 28.

Industrial Production Data: The Ministry of Statistics and Programme Implementation (MoSPI) will release India’s industrial production data and manufacturing production data for October. Industrial output grew 4 per cent in the previous month, while manufacturing activity expanded by 4.80 per cent.

Government Budget Value: The Controller General of Accounts (CGA) is set to publish the government’s budget data for October. The Centre had reported a fiscal deficit value of Rs 5,731 billion in the prior month.

Bank Loan, Deposit Growth: Weekly data from the Reserve Bank of India (RBI) will offer a view of credit and deposit trends. As of November 14, 2025, bank loan growth stood at 11.30 per cent year-on-year (y-o-y), while deposit growth was at 9.70 per cent.

Foreign Exchange Reserves: The RBI will also release the latest foreign exchange reserves data. India’s reserves were at $692.58 billion in the previous reading.

Rupee vs Dollar

The Indian rupee’s (INR) weakness continued to pressure domestic equity markets. The rupee hit a fresh record low of 89.65 against the dollar on November 21, 2025 before settling at 89.61. The decline was triggered by a combination of factors, including delays in finalising a trade deal with the US, sanctions imposed on certain Indian firms over Iranian oil purchases, and diminishing expectations of a rate cut by the US Federal Reserve. These developments weighed on the rupee, which kept sentiment cautious in the broader domestic equity market.