Market Close Report Today, November 4, 2026: Diwali Party Continues As Democrats Seize Congress In Blow For Trump

Mumbai, November 4: Indian equity benchmarks extended their winning streak to a fifth consecutive session on Wednesday, shrugging off expectations of a weak opening amid uncertainty surrounding the US midterm election outcome. The Nifty 50 closed above the 23,950 mark, supported by broad-based buying across media, metal, realty and consumer stocks, while information technology shares remained under pressure. Both benchmarks posted their longest winning streak in nearly five months. 

At close, the BSE Sensex advanced 383.55 points, or 0.50%, to settle at 77,301.40, while the NSE Nifty 50 gained 149.75 points, or 0.63%, to end at 23,960.60. 

Market breadth remained firmly positive, with 2,948 shares advancing, 1,260 declining and 170 remaining unchanged. 

The gains came despite GIFT Nifty futures indicating a weaker opening as investors awaited the US midterm election results. Now that the Democrats have seized congressional control from US President Donald Trump, its potential implications will be closely monitored for the Middle East conflict, global energy prices, US fiscal policy and investments in artificial intelligence infrastructure.  

A strong Democratic showing in the US midterm elections has emerged as a setback for Trump, with voters expressing discontent over his administration’s policies, including its global tariff measures and military intervention in the Middle East. Both factors have weighed on Indian equities this year. The political shift could also influence trade negotiations between Washington and New Delhi, as the two countries seek to finalise a bilateral trade agreement. Meanwhile, restrictions imposed by the Trump administration on H-1B workers and student visas have added another layer of uncertainty for India. 

Besides US polls, Indian equities drew support from easing crude oil prices, positive corporate earnings and signs of a revival in foreign investor buying. Foreign portfolio investors (FPIs) purchased Indian equities worth Rs 6,837 crore on Tuesday, according to provisional exchange data, marking their fifth buying session in the previous six trading sessions. 

The Nifty 50 and Sensex had already gained around 5% over the preceding four sessions, closing at two-month highs on Tuesday. 

Top Nifty Gainers And Losers 

Among individual Nifty 50 constituents, Bharat Electronics, Titan Company, Adani Enterprises, Jio Financial Services and Max Healthcare emerged as the biggest gainers. 

On the other hand, TCS, Infosys, HCL Technologies, Coal India and BSE Limited were among the major laggards, with technology stocks facing sustained selling pressure. 

Broader Markets Outperform 

The broader market outperformed the benchmark indices, with the Nifty Midcap index rising 1.3% and the Nifty Smallcap index gaining 2%, indicating strong buying interest beyond frontline stocks. 

Sectoral Performance: Media Leads, IT Lags 

Sectoral performance was largely positive, with the Nifty Media index leading the rally, surging around 5%. Metal and Realty indices advanced around 2% each. 

Consumer Durables, Oil & Gas, Energy and FMCG indices gained approximately 1% each, reflecting broad-based buying across cyclical and consumption-oriented sectors. 

Information technology remained the notable underperformer, with the Nifty IT index declining around 1.5%, weighed down by losses in heavyweight technology stocks. 

Crude Oil And Global Cues 

Brent crude futures hovered around $103 per barrel on Wednesday, after touching a nearly four-week low in the previous session as markets assessed diplomatic efforts to end the wars in Ukraine and Iran. 

The US midterm election outcome also remained a key global market trigger. Investors were assessing the shift in congressional control and its implications for energy markets, geopolitical tensions, global trade and the expansion of AI data centres. 

Asian equities and US stock futures were under pressure amid election-related uncertainty. However, easing oil prices and renewed foreign investor interest helped domestic equities maintain their upward momentum. 

Market participants will continue tracking crude oil movements, foreign fund flows and the evolving global political landscape for cues on the sustainability of the recent rally. 

Source

• NSE
• BSE