Indian equity benchmarks hit fresh record highs in intra-day trade but failed to hold on to those levels and ended flat with positive bias on Thursday as market participants were keenly watching tomorrow’s GDP print, along with key events such as the US-India deal and the RBI policy meeting. 

Some of the important factors in trade:  

GST boosts consumption, economy strong: A finance ministry report said the GST rate rationalisation gave a ‘measurable’ boost to consumption, and the Indian economy is on a stable footing to navigate risks and maintain growth momentum through the current fiscal. 

Indian economy likely to grow at 6.6% in FY26: The International Monetary Fund (IMF) has said that India's economy is estimated to grow at 6.6 per cent in current financial year (FY26). It noted that the Goods and Services Tax reforms are likely to help cushion the country from the adverse impact of the 50 per cent tariffs imposed by the US. 

India, UAE discuss trade, FTA progress: The commerce ministry has said that India and the UAE have discussed issues related to market access, data sharing, allocation of gold import quota, and anti-dumping matters, services, Rules of Origin, BIS licensing to boost economic ties. 

Cabinet approves Rs 7,280 crore scheme to promote manufacturing of sintered REPM: With an aim of enhancing self-reliance and positioning India as a key player in the global Rare Earth Permanent Magnet (REPM) market, the Union Cabinet has approved 'Scheme to Promote Manufacturing of Sintered Rare Earth Permanent Magnets' with an outlay of Rs 7,280 crore. 

Global front: European markets were trading mostly in green as rising hopes of an interest rate cut by the Federal Reserve and optimism surrounding Ukraine peace efforts continued to prompt investors to pick up stocks. Asian markets settled mostly higher amid rising optimism the Federal Reserve will lower interest rates by 25 basis points in December.

Finally, the BSE Sensex rose 110.87 points or 0.13% to 85,720.38 and the CNX Nifty was up by 10.25 points or 0.04% to 26,215.55.  

The BSE Sensex touched high and low of 86,055.86 and 85,473.85 respectively. There were 15 stocks advancing against 15 stocks declining on the index.   

The broader indices ended in red; the BSE Mid cap index fell 0.01%, while Small cap index was down by 0.38%.

The top gaining sectoral indices on the BSE were IT up by 0.20%, Bankex up by 0.15%, TECK up by 0.03% while, Oil & Gas down by 0.84%, Realty down by 0.76%, Energy down by 0.55%, Consumer Disc down by 0.48%, Capital Goods down by 0.48% were the losing indices on BSE.

The top gainers on the Sensex were Bajaj Finance up by 2.27%, ICICI Bank up by 1.24%, Bajaj Finserv up by 1.11%, Hindustan Unilever up by 1.05% and HCL Technologies up by 0.82%. On the flip side, Maruti Suzuki down by 1.42%, Eternal down by 1.35%, Ultratech Cement down by 1.15%, SBI down by 1.14% and Tata Steel down by 0.97% were the top losers.

Meanwhile, asserting that India is on the way to be a global aviation hub, Civil Aviation Minister K Rammohan Naidu has said that India's aircraft maintenance, repair and overhaul (MRO) market is expected to be worth $4 billion by 2031 at a growth rate of 8.9 per cent, providing unprecedented opportunities. 

The minister said the country will become a preferred destination for aircraft maintenance activities. He also said the Safran Aircraft Engine Services India (SAESI) facility in Hyderabad will be operational in 2026 and will be a major boost for the country's indigenous capabilities in the fast-growing aviation sector. 

He also noted that carrying out aircraft MRO activities within the country will help save up to $15 billion in foreign exchange in the coming years. He added that the cost savings of the airlines will be passed on to the passengers. He further said India is one of the world's fastest growing civil aviation markets and domestic carriers have over 1,500 planes on order. 

CNX Nifty touched high and low of 26,310.45 and 26,141.90 respectively. There were 21 stocks advancing against 29 stocks declining on the index.    

The top gainers on Nifty were Bajaj Finance up by 2.43%, ICICI Bank up by 1.37%, Shriram Finance up by 1.33%, Hindustan Unilever up by 1.23% and Bajaj Finserv up by 0.95%. On the flip side, Adani Enterprises down by 2.85%, Eicher Motors down by 2.70%, Eternal down by 1.52%, ONGC down by 1.51% and Maruti Suzuki down by 1.51% were the top losers.

European markets were trading mostly in green; France’s CAC rose 6.57 points or 0.08% to 8,103.00 and Germany’s DAX gained 46.08 points or 0.19% to 23,772.30, while UK’s FTSE 100 decreased 16.53 points or 0.17% to 9,675.05.