Indian Stock Market Today: 10 Key Factors That Will Drive Markets on November 17 – From Gift Nifty to Trump Tariffs and Bihar Election Results

Gift Nifty signaled a positive start for Indian equities on Monday as it traded around 26,017, marking a premium of nearly 66 points over the previous Nifty futures close. Improved sentiment following the BJP-led NDA’s sweeping victory in the Bihar elections is expected to support the domestic market at the opening bell.

Asian markets opened mixed, mirroring the trend seen on Wall Street last week, where US indices ended on a mixed note with technology stocks lifting the Nasdaq into positive territory. This week, traders will closely track the FOMC meeting minutes, progress on the India–US trade deal, foreign fund flows, and key global macroeconomic cues.

On Friday, Indian markets bounced back from early weakness, with the Sensex rising 84.11 points to 84,562.78 and the Nifty 50 gaining 30.90 points to close at 25,910.05.

Siddhartha Khemka, Head of Research (Wealth Management) at Motilal Oswal, said easing retail inflation and strong corporate earnings provide a supportive backdrop for equities. A potential India–US trade agreement could further strengthen sentiment.

Here Are 10 Key Market Factors to Watch Today

1. Asian Markets Mixed

Asian stocks traded in different directions amid fresh economic data.

Nikkei: –0.39%

Topix: –0.44%

Kospi: +1.43%

Kosdaq: +0.68%

Hang Seng Futures: Slightly negative indication

2. Gift Nifty Signals Positive Opening

Gift Nifty hovered around 26,017, implying a strong early momentum for Indian indices.

3. Wall Street Ends Mixed

US indices closed mixed over concerns the Federal Reserve may delay rate cuts.

Dow Jones: –0.65%

S&P 500: –0.05%

Nasdaq: +0.13%

Tech stocks such as Nvidia, Palantir and Microsoft posted gains, while UnitedHealth, Visa and Amazon declined.

4. Trump Rolls Back Tariffs

US President Donald Trump signed an executive order removing tariffs on a range of agricultural imports like beef, coffee, avocados and coconuts.

5. Progress on US–China Rare Earths Deal

Treasury Secretary Scott Bessent indicated that a rare earths agreement between the two nations may be finalized by Thanksgiving, following last month’s framework deal.

6. Possible New Russia Sanctions

Trump said Republicans are preparing legislation to impose sanctions on countries conducting business with Russia. Iran may also be added to the sanctions list.

7. Bihar Election Results Boost Sentiment

The BJP-led NDA delivered a historic landslide in Bihar, winning 202 out of 243 seats. Markets expect political stability to support economic policies.

8. Japan GDP Contracts

Japan’s GDP shrank 1.8% (annualised) in Q3, marking the first decline in six quarters—though better than the forecasted –2.5%.

9. Bitcoin Price Correction

Bitcoin erased its 30% year-to-date gains, falling below $93,714 before recovering near $95,000. The cryptocurrency had hit a record $126,251 in October.

10. Gold Prices Rise

Gold prices climbed 0.3% to $4,097.22/oz, breaking a two-day losing streak.