Indian markets enter the week ahead with a cautiously optimistic tone. Domestically, India’s flash HSBC Composite PMI slipped to 59.9, dragged down by manufacturing (dropping to a nine-month low of 57.4), hinting at a loss of momentum despite still-strong services demand.
Policymakers may face renewed pressure to support growth as inflation eases to record lows, fueling expectations of a further RBI rate cut.
On the trade front, ongoing U.S-tariff discussions continue: despite 50% U.S. duties, India’s drop in exports has been more moderate, giving government room to negotiate, especially with signals of a potential rollback.
Meanwhile, China’s economy shows strains — weak consumption, slowing industrial output, and its growth now projected at 4.8% by IMF — which could dampen demand for commodities and weigh on global sentiment.
Against a backdrop of mixed global cues and solid but slowing domestic demand, Indian equities could possibly gravitate toward rate-sensitive sectors, even as foreign flows remain volatile.
In India, the M3 Money Supply data for the week ended on November 14 would be released on Wednesday (26 November 2025). The Money Supply M3 in India increased to Rs 289,951 billion in the week ending October 31 from Rs 287,145.32 billion two weeks before.
On Friday (28 November 2025), the Industrial Production data for the month of October would be announced. The Industrial production in India expanded by 4% from the previous year in September of 2025, consistent with the upwardly revised, 4.1% increase in August.
The Government Budget Value for the period ended in October 2025 would also be released on the same day. The Indian central government recorded a budget deficit of INR 5.73 trillion in the first half of the 2026 fiscal year, widening from INR 4.75 trillion in the corresponding period of the previous year, despite bringing the deficit down from the INR 5.98 trillion from the first five months.
India’s GDP growth rate figures for the period ended on 30 September 2025 would also made public on Friday. The Indian gross domestic product expanded by 7.8% from the previous year in the three months to June of 2025, accelerating from the 7.4% in the previous period to mark the sharpest growth rate in five quarters.
In China, Industrial Profits figures for the period ended in October 2025 would be released on Thursday (27 November 2025). Profits at China’s industrial firms rose 3.2% yoy to CNY 5.37 trillion in the first nine months of 2025, accelerating from 0.9% growth in the prior period.
In the United States, the Dallas Fed Manufacturing Index for the month of November would be made public on Monday (24 November 2025). The The Dallas Fed’s general business activity index for Texas manufacturing rose four points to -5.0 in October 2025, remaining in negative territory. The production index was unchanged at 5.2, signaling below-average output growth for the second straight month.
On Wednesday (26 November 2025), the API Crude Oil Stock Change for the week ended on 21 November 2025 would be unveiled. US crude oil inventories increased by 4.4 million barrels in the week ending November 18th, 2025, following a 1.3 million-barrel build the previous week.
The Initial Jobless Claims for the week ended on November 22 would also be released on the same day. Initial jobless claims in the US fell by 8,000 from the previous week to 220,000 on the period ending November 15th, remaining well below the averages since the end of the second quarter.
Friday would also see the release of Chicago PMI data for the month of November. The Chicago Business Barometer rose to 43.8 in October 2025 from 40.6 in the prior month and above market estimates of 42.3. It was the 23rd consecutive reading below the neutral threshold of 50, though indicating the softest contraction in three months.