Stock Market Cues: Q2 GDP Data, Russia-Ukraine Peace Plan, Crude Oil Prices And Other Factors Likely To Affect Trade

Market Cues For Today: D-street is likely to open marginally higher, tracking gains in the Gift Nifty. On November 28, the Gift Nifty opened higher around 26,423.50 levels with single digit gains. Notably, the headline indices have extended gains for the past two-sessions.

In the previous session, Sensex and Nifty surged to new all-time highs backed by positive global cues. The 50-share Nifty surged to 26,310.45 levels and the Sensex advanced to 86,055.86. However, the headline indices pared some of the gains towards the close.

Stock Market Cues For Today

D-street is likely to factor in several cues on November 28 such as the release of the Q2 GDP data, news related to a Russia-Ukraine peace plan, changes in gold prices and crude oil prices.

Q2 FY26 GDP

D-street is anticipating the release of India's Q2 GDP growth numbers. A stronger-than-expected GDP can potentially boost investor confidence and impact the market positively, while a lower than expected print is likely to lead to profit-booking. The majority of economic forecasts predict a GDP growth between 7 per cent and 7.5 per cent.

Russia-Ukraine Peace Plan

Russia and Ukraine are currently in the process of discussing a peace plan, backed by the US. Russia’s President, Vladimir Putin added that the plan could potentially become the basis of future deals to end the war in Ukraine. The end of conflict between the two countries is likely to be a tail-wind for the market, lowering uncertainty and potentially unlocking a gradual unwinding of Western sanctions on Russian oil.

Derivatives Expiry

November 28 is the last Friday of the month or the expiry of the November Futures and Options (F&O) contracts. Typically volatility remains high on expiry days and can lead to short covering or long unwinding as traders roll over their positions.

FIIs Turn Net Sellers

Foreign institutional investors net sold Indian equities worth Rs 1,255.2 crore on November 27 amid likely profit-booking after the headline indices touched record highs, on the other hand domestic institutional investors continued their buying activity, purchasing equities worth Rs 3,940.87 crore.

Crude Oil Prices On November 28

Crude oil prices edged upwards in the early hours of November 28, the price of Brent Crude edged higher by $0.1 or 0.16 per cent to $63.44 and the price of West Texas Intermediate crude remained around $59.08 up by $0.43 or 0.73 per cent.

Gold Rate Today

Physical gold prices declined marginally on November 28, the price of 24 karat gold remained around Rs 12,774 per gram, the price of 22 karat gold was around Rs 11,709 per gram and the price of 18 karat remained around Rs 9,580 per gram.

Asian Indices Trade Mixed

On November 28, most major Asian indices witnessed early losses. Japan’s Nikkei 225 , South Korea’s KOSPI and Hong-Kong’s Hang Seng index traded lower by 0.15 per cent and 1.41 per cent and 0.1 per cent lower respectively. Other major Asian indices such as China’s Shanghai Composite traded higher by 0.21 per cent.

US Market Indices

Wall Street indices extended gains for the third straight session on November 27, the Nasdaq Composite, S&P 500 and the Dow Jones Industrial Average finished the session higher by 0.82 per cent, 0.69 per cent and 0.67 per cent respectively.