Indian stock markets surged on November 24, 2025, with the Nifty 50 and Sensex rallying as investors cheered robust gains from the country’s technology giants. The upbeat mood came as global signals hinted at easier monetary policy ahead, and a strengthening rupee further buoyed sentiment. According to analysis from Finimize, the Indian IT sector led the charge, gaining 1.5% during the session, while twelve out of sixteen sectors finished in the green. The optimism was palpable on Dalal Street, with traders eyeing the prospect of a US Federal Reserve rate cut in December—a move that could ripple positively through India’s export-heavy IT industry.
Why does a possible US rate cut matter so much for Indian tech? It’s simple: the country’s top IT firms—think names like Tech Mahindra—earn about 60% of their revenue from overseas markets, especially the United States. Lower US rates generally mean a softer dollar and potentially stronger demand from American clients, making Indian technology exports more attractive. As a result, the sector’s outperformance was a key driver behind the market’s overall momentum, as noted by Finimize.
It wasn’t just the IT sector getting a boost. Shares of companies such as Shaily Engineering Plastics and Shyam Metalics also rallied, lifted by upbeat corporate forecasts and a spate of broker upgrades. Investors seemed to be in a risk-on mood, with the rupee’s recent strength adding another tailwind. The currency, which had been hovering near historic lows, rebounded after the Reserve Bank of India (RBI) stepped in to relieve pressure. This intervention, according to Finimize, provided much-needed reassurance to both domestic and foreign investors, who have been closely monitoring the rupee’s trajectory amid global currency volatility.
That said, the market’s gains were not universal. Small- and mid-cap indexes remained steady, holding their ground but not participating in the broader rally. Meanwhile, Hindustan Aeronautics saw its shares tumble 3.2% after its Tejas fighter jet crashed at the Dubai Airshow—a sharp reminder that individual company news can still cut through even the most bullish market mood.
Looking beyond India, the rally in Indian equities mirrored a broader uptick across Asian markets. Regional stock exchanges also saw healthy gains as risk appetite returned, driven by hopes of softer global monetary policy and improving corporate results. According to HSBC, falling inflation and solid earnings have emerged as key positives for Indian investors, helping to offset lingering concerns about global economic headwinds.
But the story doesn’t stop at stocks. The derivatives market has also been buzzing with activity. As reported by Economic Times, there was a notable surge in futures open interest for seven stocks in the NSE F&O pack as of November 21, 2025. This surge contributed to a total increase of more than 12% compared to the previous trade—a clear sign that traders are adding fresh positions or expanding existing ones. Rising open interest is often seen as a barometer of growing trader participation and confidence in the market’s direction.
Investors, however, are not taking their eyes off the data calendar. The next big milestone? India’s GDP report, due on November 28, 2025. Market participants are in wait-and-see mode, tuning in to both domestic economic releases and global trends before making their next moves. As Finimize notes, “All eyes are on global signals,” with foreign fund flows, US inflation data, and the upcoming GDP print all poised to influence the near-term trajectory of Indian equities.
Global macroeconomic developments are also shaping the mood. According to Newsquawk, the US Federal Reserve is widely anticipated to cut rates in December 2025. This expectation has already started to influence investor sentiment not just in India, but across global markets. The delayed US Retail Sales data for September 2025—rescheduled for release on November 25—will provide further clues about the health of the American consumer, a key driver for Indian exporters.
Elsewhere, central banks around the world are taking center stage. The Reserve Bank of New Zealand is expected to reduce its Official Cash Rate by 25 basis points to 2.25% at its meeting on November 26, according to a Reuters poll. Meanwhile, the Bank of Korea is tipped to keep its Base Rate steady at 2.5% on November 27, balancing concerns about household debt with the need to support growth. In Europe, the European Central Bank’s minutes from October, released on November 27, confirmed that the Deposit Rate was held at 2.00%, with policymakers expressing confidence in the bloc’s growth outlook but remaining cautious about inflation risks.
Economic data releases are coming thick and fast. Australian CPI data for October is due on November 26, with analysts expecting the Reserve Bank of Australia to hold rates steady at its December 9 meeting. In Japan, Tokyo CPI for October rose 2.8% year-on-year, beating expectations and suggesting that inflationary pressures remain persistent. Over in China, industrial profit data for October is also awaited, following a 3.2% year-on-year rise in September—a tentative sign of recovery after months of contraction.
Closer to home, the UK’s Autumn Budget is scheduled for November 26, with Chancellor Reeves facing the daunting task of plugging a fiscal hole estimated between GBP 20-35 billion. Market reaction will likely hinge on how the budget balances fiscal discipline with the need to support growth, especially as the Bank of England keeps a close watch on inflation prints. In Canada, Q3 and September GDP data are due on November 28, with the Bank of Canada expected to keep rates on hold barring any major surprises.
In summary, Indian markets are riding a wave of optimism fueled by global rate cut hopes, a stronger rupee, and solid corporate performances. But as always, the mood remains sensitive to both domestic and international developments. With a packed data calendar ahead and central banks across the world signaling caution, investors will need to stay nimble. The next few days could prove pivotal in setting the tone for the rest of the year.
