First Tick: Top global cues to watch in today’s trade

The benchmark indices extended the gains on the third consecutive week and month, with BSE Sensex and Nifty rising 0.5 percent each in this week and adding 2% each in November.

Indian benchmark indices, Sensex and Nifty, are likely to open on a flat to negative note on December 2, with cues coming from GIFT Nifty, which was trading higher at around 26,332.

Track the latest updates on GIFT Nifty right here on Moneycontrol.

The Indian markets started the week on a strong note, hitting a fresh all-time high in the opening trade following positive global markets and above-estimate GDP at 8.2% (six-quarter high) in Q2FY26 added to the positive sentiments.

However, a 9-month low manufacturing growth rate of 56.6 in November and rupee depreciation erased all the intraday gains in the first half, and remained rangebound in the second half ahead of US and India central banks' interest rate decisions later this week.

At close, the Sensex was down 64.77 points or 0.08 percent at 85,641.90, and the Nifty was down 27.20 points or 0.10 percent at 26,175.75. BSE Midcap and smallcap indices ended flat.

The benchmark indices extended the gains on the third consecutive week and month, with BSE Sensex and Nifty rising 0.5 percent each in this week and adding 2% each in November.

The GIFT Nifty is trading marginally lower at around 26,332, indicating a flat to negative start for the day.

Asian stocks edged higher at the open, staging a tentative rebound after Monday’s selloff, which saw cryptocurrencies lead declines in global risk assets.

US stocks closed modestly lower on Monday, weighed down by a jump in Treasury yields and economic data that showed tariffs remained a drag on the manufacturing sector, as investors looked toward the Federal Reserve's policy announcement next week.

The Dow Jones Industrial Average fell 427.09 points, or 0.90%, to 47,289.33, the S&P 500 lost 36.46 points, or 0.53%, to 6,812.63, and the Nasdaq Composite lost 89.76 points, or 0.38%, to 23,275.92.

The yield on 10-year Treasuries and 2-year Treasuries were trading marginally lower at 4.08 percent and 3.52 percent, respectively.

The US dollar remained under pressure on Tuesday as weaker-than-expected manufacturing activity data from the world's biggest economy heaped pressure on the Federal Reserve to cut interest rates at its policy meeting later this month.

The US dollar index, which measures the greenback's strength against a basket of six major peers, edged lower to 99.44 at the start of the Asian trading session after falling for a seventh consecutive session to hit a two-week low during U.S. trading hours on Monday as stocks and bonds pulled back.

Asian currencies were trading mixed in the early trade on Tuesday. However, on a year-to-date basis, the Malaysian Ringgit has outperformed the others with an 8 percent gain, followed by the Thai Baht (up 7%) and, Singapore Dollar (up 5%).

Crude prices climbed as a key pipeline linking Kazakh fields to Russia’s Black Sea coast halted loading after one of its three moorings was damaged amid Ukrainian attacks in the region over the weekend.

Silver retreated from a record high, with a key technical indicator showing that a six-day rally has taken the white metal into overbought territory. Gold also edged down.

The Foreign Institutional Investors (FIIs) extended their selling on the third consecutive session on December 1 as they sold equities of Rs 1171 crore, while Domestic Institutional Investors (DIIs) purchased equities of Rs 2558 crore on the same day.

Hope you're all set for today's trade. We wish you a profitable day ahead.