As we step into the final month of the year, global equity markets have defied concerns and reached new heights. In a notable global context, the S&P 500 hit a fresh 2023 high on Friday, and all US indexes closed with gains. Simultaneously, crude oil prices softened, with futures trading over 2.5% lower, hovering near the $78 per barrel mark.

However, stealing the spotlight is the Indian equity market, which emerged as a standout performer in the past week, outpacing its regional counterparts with a gain of over 2%. The Nifty marked its fifth consecutive week of positive returns. Particularly noteworthy is the midcap segment, which extended its winning streak to 15 consecutive sessions, achieving record highs throughout.

Key events shaping the market sentiment include the BJP's resounding victories in Madhya Pradesh and Rajasthan, surpassing even the most optimistic exit poll predictions. This political development has injected a strong positive sentiment into the market.

Looking ahead, the Indian market anticipates a positive start, with the Nifty expected to make significant moves at the opening. Important cues, including Mizoram counting data, will influence trading today. Additionally, market participants are eagerly awaiting the policy meet outcome on December 8.

While Asian markets exhibit mixed signals, the Indian market's strong gap opening sparks anticipation about its sustainability throughout the morning. Investors are keenly observing these developments, indicating an optimistic outlook for the Indian market in the coming days.