Australia stocks higher at close of trade; S&P/ASX 200 up 2.61%

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• US Midterm Election results lift banking, financial stocks - SBI Cards, Bajaj Finance, Axis, ICICI Bank surge up to 6%

  Emerging market sentiment strengthened significantly after Democrats captured both chambers of the U.S. Congress, easing trade and tariff worries that had weighed on domestic equities. Concurrently, a pullback in global energy prices and robust inflows from foreign institutional investors drove strong demand for financial counters. The sector's outperformance reinforced technical momentum and helped major domestic benchmarks outstrip broader market averages.

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• Why is CNOOC stock falling today?

  Energy market participants are tracking downward momentum in the company's equity during the current trading session. The shift reflects immediate selling pressure impacting the oil producer's shares across regional financial markets. Investors continue to evaluate broader market conditions and corporate developments to understand the scope of the pullback.

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• US Midterm Election results impact on oil and IT shares: Reliance, Indian Oil, TCS, Infosys - 10 stocks from experts

  A power shift toward the Democrats following the American midterm vote triggered a broad sell-off in the US dollar and debt markets, driving fresh global capital into equities. Indian benchmark indices jumped sharply during early trade as investors anticipated more favorable American policies for critical domestic sectors. Market observers expect this political development to support steady macroeconomic stability, lower energy import pressures, and ease operational friction for major exporters.

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