Gift Nifty Signals Mildly Positive Open for Sensex, Nifty on Friday as Oil Cools, Democrats Sweep US Polls

Mumbai, November 5: Gift Nifty futures point to a mild gap-up opening for the Sensex and Nifty 50 on Friday, with the contract at a premium of about 48 points to the Nifty’s close. The signal extends a six-session rally, helped by cooler crude, sustained foreign buying and the Democrats’ sweep of the US midterms, though Asian markets are mixed. 

The near-month Gift Nifty contract was at 24,585.00 in Thursday’s trade, up 211 points, or 0.87 per cent, from its previous close of 24,374.00. Against the Nifty 50’s close of 24,536.60, that is a premium of 48.40 points, or 0.20 per cent. 

The premium is narrow after a gain of more than 8 per cent in six sessions, pointing to only a mild start rather than another sharp jump. 

Oil is the main support. Brent crude is trading near USD 96 a barrel, about 19 per cent below the six-month high of USD 118, which eases pressure on India’s import bill, inflation and the rupee. 

Asia is mixed. Hong Kong’s benchmark Hang Seng rose 3.67 per cent, but South Korea’s Kospi fell 5.28 per cent and Taiwan 3.20 per cent. 

Thursday’s Close 

Indian equity benchmarks extended their winning streak to a sixth session on Thursday, the longest in a year, as falling crude, foreign buying and better global risk sentiment fuelled a broad rally. The Sensex jumped 2,008.61 points, or 2.60 per cent, to 79,310.01, while the Nifty 50 gained 576 points, or 2.40 per cent, to 24,536.60, its first close above 24,500 since August 7. Breadth was firmly positive, with 2,868 shares advancing, 1,384 declining and 169 unchanged on the BSE, and the Nifty Midcap index rose 1.4 per cent and the Nifty Smallcap index 1.1 per cent. Foreign portfolio investors bought shares worth Rs 7,284 crore on Wednesday, their biggest single-day purchase since October 2025 and a fourth straight session of net buying. Fourteen of 16 sectoral indices ended higher, led by Nifty Auto, up 4.14 per cent. Bajaj Finance, Shriram Finance, InterGlobe Aviation, Maruti Suzuki and Tata Motors Passenger Vehicles led the Nifty gainers, while Apollo Hospitals, ONGC, NTPC, Dr Reddy’s Laboratories and Coal India led the losers. 

Asian Stocks 

Asian stocks were mixed in Thursday’s trade, with gains in Hong Kong and Australia offset by sharp falls in South Korea and Taiwan. Hong Kong’s Hang Seng jumped 3.67 per cent to 24,796.98, Australia’s ASX 200 rose 2.61 per cent to 9,065.10 and New Zealand’s NZX 50 gained 2.23 per cent to 14,090.97. Singapore’s Straits Times added 0.52 per cent to 5,296.25, and Shenzhen rose 1.20 per cent to 11,471.09. South Korea’s Kospi tumbled 5.28 per cent to 5,383.80, Taiwan lost 3.20 per cent to 41,574.72 and Japan’s Nikkei slipped 1.79 per cent to 61,077.90. 

Oil Prices 

Oil prices recovered some ground after a steep fall in the previous session. Brent crude rose USD 1.48, or 1.56 per cent, to USD 96.10 per barrel, while West Texas Intermediate (WTI) gained USD 0.49, or 0.56 per cent, to USD 88.61. Brent had slumped 8.7 per cent on Wednesday to a two-month low. Murban crude was quoted at USD 95.89, down USD 5.00, or 4.96 per cent, on Thursday’s data. 

Democrats Sweep US Midterms 

Democrats swept the US midterm elections held on November 3 and are set to take control of both the Senate and the House of Representatives when the new Congress convenes in January 2027, according to projections by the Associated Press and television networks. Republicans retain their authority until then, and President Donald Trump stays in office with his veto powers. Democrats will gain control of House committees and the power to investigate the administration, and the White House will need opposition support to pass major legislation. Investors read the result as a check on Trump’s policy choices and a step towards a diplomatic end to the US-Israel-Iran conflict, which lifted Wall Street and pulled crude lower. 

Sources

• Gift Nifty
• NSE data
• BSE data
• CNBC
• OilPrice.com
• Associated Press
• CNN