NIFTY50, SENSEX today: Wall Street cues, FII activity, key things to know before markets open on December 2

The Indian equity markets are set to open higher on Tuesday, December 2, as indicated by GIFT NIFTY futures. NIFTY futures at GIFT City in Ahmedabad fell 17 points to 26,318 despite positive cues from Asian markets.

The Indian equity ended lower on Monday as investors booked profits at record highs hit earlier in the session. The SENSEX fell as much as 669 points from its record high of 86,159.02 hit earlier in the session and NIFTY50 index touched an intraday low of 26,124 after hitting an all-time high of 26,325.80.

HDFC Bank, Bajaj Finance, State Bank of India, Sun Pharma and Mahindra & Mahindra were top drags on the SENSEX, but losses were capped owing to buying interest in Kotak Mahindra Bank, Maruti Suzuki, Bharat Electronics and HCL Technologies.

Asian markets

Asian markets were trading higher on Tuesday rebounding from previous day's selloff. Japan's Nikkei advanced 0.5%, Singapore's Straits Times gained 0.2%, Hong Kong's Hang Seng rose 0.77% and South Korea's KOSPI jumped 1.57%.

Wall Street update

US stocks gave back some of last week’s rally, as bitcoin fell again on Monday.

The S&P 500 slipped 0.5% and broke a five-day winning streak. The Dow Jones Industrial Average dropped 427 points, or 0.9%, and the Nasdaq composite dipped 0.4%.

Last week’s rally was largely due to rising hopes that the Federal Reserve will cut its main interest rate next week to help shore up the slowing job market. Such hopes are still high, with traders betting on a roughly 85% chance the Fed will cut at its next meeting, according to data from CME Group, news agency AP reported.

FII/DII activity

Foreign institutional investors bought shares worth ₹1,171 crore on Wednesday while domestic institutional investors bought shares worth ₹2,559 crore, data from the National Stock Exchange showed.

The FIIs have so far this month sold shares worth ₹3,489 crore and for the calendar year they have been net sellers to the tune of ₹1,47,164 crore, according to the data from National Securities Depository Limited (NSDL).

Stocks to watch

On November 14, 2024, Reliance had intimated about the scheme of arrangement for the merger of STPL with Star India, now known as Jiostar India, another subsidiary of the company.

"Jiostar has, on November 30, 2025 at 6:09 pm (IST), informed the Company that the said scheme has become effective from November 30, 2025, and STPL stands merged with Jiostar," Reliance Industries Ltd informed in a regulatory filing.

The two-wheeler maker sold 4,59,805 units in the same month last year.

Domestic sales stood at 5,70,520 units last month as compared with 4,39,777 units in the year-ago period, Hero MotoCorp said in a regulatory filing.

On October 1, NTPC transferred Chatti Bariatu Coal Mine and Badam Coal Mine, located in Jharkhand, to NML in line with the amended Business Transfer Agreement (BTA) dated September 17.

In an exchange filing, NTPC said Kerandari Coal Mine, located in North Karanpura Coalfields in Hazaribagh, Jharkhand, has been transferred to NML with effect from December 1.

"Counterfeit materials don't just undermine consumer trust, they damage the sector’s credibility and weaken the nation's development. JSL Saathi Pragati is another step in our commitment to empower fabricators and retailers," Jindal Stainless Managing Director Abhyuday Jindal said in the statement.

At the current market price, the government would be able to garner about ₹2,600 crore by offloading up to a 6% stake in the bank.

"Offer for Sale in Bank of Maharashtra (BOM) opens tomorrow for non-retail investors. Retail investors can bid on Wednesday. The government offers to disinvest 5% equity in the bank with an additional 1% as a green shoe option," Department of Investment and Public Asset Management (DIPAM) Secretary Arunish Chawla said in a post on X.

The lump sum consideration paid to PRI is subject to post-closing adjustments in accordance with the terms and conditions set out in the Business Transfer Agreement, according to a statement issued by Tilaknagar Industries Ltd (TIL), which owns brands such as Mansion House Brandy, Courrier Napoleon Brandy, Mansion House Gold Whisky and Blue Lagoon Gin.

"In addition to this amount, a deferred payment of €28 million will be made after four years from the date of closure of the transaction," it said.

Bitcoin drops below $85,000

Bitcoin and companies tied to cryptocurrencies extended a nearly two-month swoon Monday, tracking with a broader market sell-off in technology companies that many see as overvalued.

Bitcoin, which soared to a record $126,210.50 on October 6 according to crypto trading platform Coinbase, slid 11.8% to below $85,000. That's a decline of about 33 per cent in just eight weeks.

Stocks across the crypto industry tumbled, with Coinbase Global sinking 5.1% and online trading platform Robinhood Markets losing 5.2 per cent. Bitcoin mining company Riot Platforms dropped 5.4%.

Strategy, the biggest of the so-called crypto treasury companies that raises money just to buy bitcoin, tumbled 10.3%. The company has reported holding 649,870 Bitcoin. As of 11 am ET Monday they were worth about $55 billion.

Trade setup

On the technical front, the index showed signs of consolidation at higher levels, indicating the absence of buying power at higher levels. The downside support remains at the 20 SMA of 25,959 levels on the daily charts.

For today’s expiry, the open interest data indicates 26,300 calls as the crucial resistance with the highest open interest. On the downside, the 26,000 puts hold the highest open interest, indicating strong support for today’s expiry.