India's GIFT Nifty was up 1.07% at 20,349.50 as of 8:00 a.m. IST. The blue-chip Nifty 50 index on Thursday settled at 20,133.15, capping off November with the most monthly gains since July 2022.

The Indian economy expanded 7.6% in the September-quarter, faster than the 6.8% forecast in a Reuters poll of economists and the Reserve Bank of India's estimate of 6.5%, led by manufacturing growth.

"With the robust growth reported, we can expect healthy inflows in domestic markets, with Nifty being pushed to new highs," said Raghvendra Nath, managing director at Ladderup Wealth Management.

Meanwhile, Indian state exit polls showed a narrow advantage for India's Bharatiya Janata Party (BJP) in the key states of Rajasthan and Madhya Pradesh, while the Indian National Congress is seen to be leading in Chhattisgarh and Telangana.

"While exit polls are not definitive, a decisive BJP win will reinforce consensus that the party is on the front-foot for 2024 general elections and likely add another leg of rally to markets," said three analysts led by Madhavi Arora, lead economist at Emkay Global Financial Services.

India's Nifty and Sensex posted their best month in 2023 in November, aided by the return on foreign portfolio investor (FPI) inflows and a fall in U.S. Treasury yields on the easing rate outlook in the U.S., while domestic inflows continued to remain strong.

FPIs snapped a two-month selling streak in November, adding stocks worth 90.01 billion rupees ($1.08 billion).

Wall Street equity indexes rose overnight with the Dow Jones Industrial Average clocking its best month since October 2022, after consumer spending data signalled cooling demand, adding to the easing rate outlook. Asian markets opened lower. [MKTS/GLOB]


** Ultratech Cement, Kesoram Industries: Ultratech Cement to buy Kesoram's cement business for $645 million.

** Biocon: Unit Biocon Biologics completes integration of Viatris' Biosimilar business in 31 countries in Europe.

** Whirlpool of India: Large shareholder Whirlpool Corporation to sell 24% stake in India business to reduce debt.

** ITD Cementation India: Engineering and construction company secures new order worth about 10.01 billion rupees.

($1 = 83.3160 Indian rupees)

(Reporting by Bharath Rajeswaran in Bengaluru; Editing by Sonia Cheema)