Indian equity investors should approach the week of 29 Nov–05 Dec 2025 with cautious optimism. Domestic fundamentals received a strong boost as National Statistics Office data showed India’s real GDP surged 8.2% year-on-year in Q2 FY26, driven by a 9.1% jump in manufacturing and 9.2% growth in services.
Meanwhile, global markets remain buoyant as expectations of a rate cut from the Federal Reserve (Fed) keep rising — a dynamic that shone through with an across-the-board rally in equities and a drop in U.S. treasury yields.
That said, persistent foreign outflows and a weak rupee continue to exert pressure on FII sentiment and import costs. Given these mixed signals, investors may find value in rate-sensitive sectors and domestically oriented mid-caps, while keeping a close eye on currency volatility and global risk sentiment.
In India, the final print for the HSBC Manufacturing PMI for November 2025 would be announced on Monday (01 December 2025). The HSBC India Manufacturing PMI fell to 57.4 in November 2025 from October’s 59.2. This indicates the slowest improvement in factory activity since February, though the sector remained comfortably above its long-run average.
On Wednesday (03 December 2025), the final value for the HSBC Services PMI for November 2025 would be released. The The HSBC India Services PMI rose to 59.5 in November 2025, up from October’s five-month low of 58.9, preliminary estimates showed.
The HSBC Composite PMI for November 2025 would also made public on the same day. The HSBC India Composite PMI was down to 59.9 in November 2025 from a final 60.4 in the previous month, pointing to the lowest level since May, flash data showed. Even so, it remained well above the long-run average of 54.9.
On Friday (05 December 2025), the RBI would announce its latest monetary policy. The Reserve Bank of India (RBI) kept its key repo rate unchanged at 5.50% during its October 2025 meeting, in line with market expectations.
The decision comes amid easing inflation, as the central bank assesses the impact of earlier rate cuts and recent tax reductions, against a backdrop of global trade uncertainties. The repo rate remains at its lowest level since August 2022, following a cumulative 100 basis point reduction since the beginning of the year.
In China, the NBS Manufacturing PMI for November 2025 would be announced on Sunday (30 November 2025).
On Monday (08 December 2025), the RatingDog Manufacturing PMI for the month of November would be made public. The The RatingDog China General Manufacturing PMI fell to 50.6 in October 2025 from September’s six-month high of 51.2, missing market consensus of 50.9.
In the United States, the ISM Manufacturing PMI for the month of November would be unveiled on Monday (01 December 2025). The ISM US Manufacturing PMI fell to 48.7 in October 2025 from 49.1 in September, indicating an eighth consecutive month of contraction in the manufacturing sector.
On Wednesday (03 December 2025), the API Crude Oil Stock Change for the week ended on 28 November 2025 would be unveiled. US crude oil inventories decreased by 1.9 million barrels in the week ending 21th November 2025, following a 4.4 million-barrel build the previous week. This was the first draw after three straight weekly builds in inventories.
The ADP Employment Change for the month of November would be released on the same day. Private businesses in the US added 42K jobs in October 2025, rebounding after an upwardly revised 29K jobs cut in September. Private employers added jobs in October for the first time since July, but the bounce wasn't broad-based.
Wednesday would also see the release of ISM Services PMI for November 2025. The ISM Services PMI rose to 52.4 in October 2025 from 50 in September, pointing to the strongest expansion in the services sector since February.
On Thursday (04 December 2025), the Balance of Trade data for the month of September would be made public. The US trade deficit narrowed to $59.6 billion in August 2025 from $78.2 billion in July, compared to forecasts of a $61 billion gap.
On Friday (05 December 2025), the preliminary reading for the Michigan Consumer Sentiment for December would be released. The University of Michigan’s consumer sentiment index rose slightly to 51.0 in November, up from a preliminary 50.3, following the end of the federal shutdown.