Barometers trade with minor gains; auto stocks rally for 2nd day

The key equity benchmarks traded with minor gains in the morning trade supported by Indias strong Q2 FY26 GDP growth, which accelerated to 8.2%. The Nifty traded above the 26,200 level. Investor will monitor the monthly auto sales, IPO pipeline, and the RBIs monetary policy committee (MPC) meeting, scheduled later this week.

Auto stocks jumped for the second consecutive trading session.

At 11:25 IST, the barometer index, the S&P BSE Sensex, jumped 167.55 points or 0.20% to 85,874.22. The Nifty 50 index climbed 42.25 points or 0.17% to 26,248.20.

The Nifty 50 and the Sensex hit fresh all-time highs in early trade at 26,325.80 and 86,026.18, respectively, while the Bank Nifty also scaled a new record high of 60,114.30.

In the broader market, the S&P BSE Mid-Cap index rose 0.10% and the S&P BSE Small-Cap index added 0.41%.

The market breadth was positive. On the BSE, 2,097 shares rose and 1,830 shares fell. A total of 266 shares were unchanged.

Economy:

The seasonally adjusted HSBC India Manufacturing Purchasing Managers Index (PMI) stood at 56.6 in November comfortably above the neutral mark of 50.0 and its long-run average of 54.2. Falling from 59.2 in October, however, the latest figure highlighted the slowest improvement in operating conditions since February. A softer rise in sales restricted growth of buying volumes and job creation, while positive sentiment towards output prospects slipped to its lowest level since mid-2022.

Buzzing Index:

The Nifty Auto index rose 0.41% to 27,887.50. The index jumped 1.03% in the two consecutive trading sessions. The index also touched 52-week high of 28,074.95 in intraday today.

TVS Motor Company (up 2.22%), Hero MotoCorp (up 1.98%), Tata Motors Passenger Vehicles (up 1.11%), Bharat Forge (up 0.87%), Uno Minda (up 0.73%), Bajaj Auto (up 0.66%), Exide Industries (up 0.6%), Bosch (up 0.5%), Eicher Motors (up 0.43%) and Maruti Suzuki India (up 0.28%) advanced.

Stocks in Spotlight:

Glenmark Pharmaceuticals rose 0.04%. The company announced that the U.S. Food and Drug Administration (USFDA) has successfully concluded its pre-approval inspection at the companys formulations manufacturing facility in Chhatrapati Sambhajinagar with zero 483 observations.

Lenskart Solutions jumped 2.70% after posting strong Q2 numbers. On a consolidated basis, revenue for the quarter stood at Rs 2,096.1 crore, rising 20.8% year-on-year (YoY). Profit after tax (PAT) came in at Rs 103.5 crore, up 19.9% YoY, while the PAT margin moderated slightly by 4 bps to 4.94%.

V.S.T Tillers Tractors added 4.36% after the company reported total Power Tiller and Tractor sales of 5,166 units in November 2025, a sharp 129% YoY jump from the 2,251 units sold in November 2024.

Global Markets:

Most of the Asian market advanced on Monday despite the Chinas latest manufacturing PMI data declined to 49.9.

Chinas factory activity unexpectedly contracted in November, according to a private survey released Monday, as soft domestic demand continued to cast a pall over the worlds second-largest economy.

The RatingDog China General Manufacturing PMI, conducted by S&P Global, dropped to 49.9 in November, from 50.6 in October and 51.2 in September. A reading above the 50 benchmark level suggests an expansion, while one below that indicates contraction.

However, the official data released on Sunday showed that Chinas factory activity had improved slightly in November but remained stuck in contraction for the eighth consecutive month, while services weakened as the boost from earlier holidays faded.

The manufacturing purchasing managers index rose to 49.2, up 0.2 points from October, the National Bureau of Statistics said.

On Friday stateside, Wall Street came back from the Thanksgiving holiday for a shortened trading session. The Nasdaq Composite advanced 0.65% to end the day at 23,365.69, scoring its fifth straight day of gains.

Meanwhile, the S&P 500 gained 0.54% to settle at 6,849.09. The Dow Jones Industrial Average grew 289.30 points, or 0.61%, to finish at 47,716.42.

Traders have begun raising their expectations for lower rates since New York Fed President John Williams said last week that there was room for a further adjustment in the near term to the target range for the federal funds rate.

A quarter percentage point cut from the Fed in December would mark the central banks third in a row after its September and October meetings.

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