India’s gross goods and services tax (GST) collections came in at Rs 1.7 lakh crore in November, lower as compared to Rs 1.95 lakh crore in the preceding month, as the impact of rate rationalisation came fully into effect.The Central GST collection in November stood at Rs 34,843 crore, up as compared to Rs 34,141 crore in the year-ago period. However, State GST dipped to Rs 42,522 crore from Rs 43,047 crore, and Integrated GST declined to Rs 46,934 crore from Rs 50,093 crore.
November GST collection moderates to Rs 1.7 Lakh Crore as lower tax rates reflect- Daily Market Update 2nd Dec 2025
Overview and Outlook
Global Stock Market Today
- US equity markets settled lower in range 0.45% to 0.90%.
- European equity markets also ended lower in range 0.19% to 1%.
- Majority of Asian equity markets are trading in green.
- GIFT Nifty is little changed, Nifty futures likely to open around 26300 levels.
The Nifty index opened higher, gapping up on stronger-than-expected GDP figures. However, it was unable to maintain the rally above the 26300 spot resistance, reversing after setting a new all-time high of 26325.80 spot levels. The index ultimately closed nearly flat, settling at 26180 spot levels.
Broader markets traded in line with the benchmark as Mid and Small cap indices ended on a flat note.
Performance on the sectoral front was mix. Amongst them, Realty and Healthcare index were the worst performer, down around 1% each. On the other hand, Auto and Metal index provided the needed support to the bulls, gained 0.79% & 0.58% respectively.
Technically, Nifty index is holding strong above its long term as well as short term moving averages on multiple time frames. Going ahead, we continue to maintain our buy on dips trading approach till it is holding above 25800 spot levels on closing basis and expect it to test 26500-26700 spot levels in near term.
Derivatives Overview & Outlook
Yesterday, Nifty and Finnifty futures added 3.5% and 2.8% of open interest respectively as short buildup along with some long unwinding in Banknifty and Midcapnifty futures that shed 2.4% and 1.7% of open interest respectively.
Majority of F&O sectors settled on a negative note. Amongst them, Oil & Gas, Realty and Textile stocks witnessed maximum addition of short positions. On the other hand, some long buildup was seen among Auto and Metal stocks.
On options front, call writing along with some put unwinding was seen at At-The-Money strikes. Maximum positions are at 26000 PE and 26300 CE followed by 26500 CE. Quantum of call positions is significantly higher than the quantum of put positions that is a negative sign, indicating weakness in price.
Institutional Trading Activity
Yesterday, FIIs sold stocks worth Rs 1171 Cr in the cash segment, sold stocks futures worth Rs 463 Cr and bought index futures worth Rs 108 Cr. DIIs were net buyers in the cash segment to the tune of Rs 2559 Cr.
Nifty Futures, Banknifty Futures and Finnifty Futures Key Levels
Nifty – Resistances 26500-26600; Supports 26260-26200
Banknifty – Resistances 60300-60600; Supports 59850-59500
Finnifty – Resistances 28200-28325; Supports 28000-27900
F&O Security in Ban Today: SAMMAANCAP
Disclosure
Globe Capital Market Limited (“GCML”) is a Stock Broker registered with BSE, NSE, MCX, NCDEX, and MSEI in all the major segments viz. Capital, F & O and CDS segments. GCML is also a Depository Participant and registered with both the Depositories viz. CDSL and NSDL. Further, GCML is a SEBI registered Portfolio Manager and Research Analyst. GCML includes subsidiaries, group and associate companies, promoters, directors, employees and affiliates. AY Securities and Commodities Limited, Globe Derivatives and Securities Limited & Globe Fincap Limited are subsidiaries of GCML. AtoZ Finstock Private Limited, A to Z Consultants Private Limited, A to Z Venture Capital Limited, M. Agarwal Stock Brokers Private Limited, A M Share Brokers Private Limited, Shri Adinath Advertising Company Pvt. Ltd., Orient Landbase Private Limited, Bolt Synthetic Private Limited, Price ponder Private Limited and Lakshya Impex Private Limited are the associates of GCML.
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