GIFT Nifty trends suggest an opening dip for Indian benchmarks after a four-day winning streak that lifted the Nifty by more than 750 points over the week. The market's previous rally was anchored by a surge of over 3% in FMCG stocks, which effectively cushioned losses in PSU banking shares. Although the underlying technical outlook stays sideways to bullish, analysts expect near-term profit booking as indices encounter major moving averages.
Key points
Technical analysts identify immediate support for the Sensex within the 76,000 to 76,300…: Technical analysts identify immediate support for the Sensex within the 76,000 to 76,300 range, with resistance near 77,000 to 77,200.
The 200-day simple moving average stands as the primary technical hurdle for the Nifty fo…: The 200-day simple moving average stands as the primary technical hurdle for the Nifty following its recent rebound.
Stock market prediction for Wednesday, 4 November, 2026: The Indian stock market is likely to open on a negative note, snapping four days winning streak, as GIFT Nifty signalled a weak opening on Wednesday, 4 November.
Meanwhile, Asian markets traded mixed on Wednesday, while US stock futures also closed on a mixed note amid midterm elections 2026.
Benchmark indices Sensex and Nifty extended their winning run for the fourth consecutive session on Tuesday, closing nearly 2% higher. The rally was supported by a decline in crude oil prices from their recent peaks and a fresh wave of foreign fund inflows.
The 30-share BSE Sensex surged 1,225.07 points, or 1.62%, to settle at 76,917.85, its highest level of the day. Similarly, the 50-share NSE Nifty advanced 370.05 points, or 1.58%, to close at 23,810.85, also marking its intraday high.
“Indian equities extended their winning streak to a fourth consecutive session, with broad-based buying lifting the benchmark indices and sustaining the market’s recovery. FMCG stocks led the advance, climbing more than 3%, while PSU banking stocks came under pressure from profit-booking, with…
The central bank is pressing forward with its liquidity absorption efforts despite lukewarm participation from financial institutions. A follow-up auction is slated for Wednesday to mop up an identical sum of surplus funds. Meanwhile, short-term money market borrowing costs eased slightly, reflecting subtle day-to-day shifts in interbank cash conditions.
A sharp two-week decline in borrowing costs has opened a brief financing window for Indian debt issuers seeking to lock in cheaper funds. Both state-run institutions and major private sector players are accelerating debt sales before external pressures reverse the trend. Market observers warn that domestic bond stability faces severe headwinds from volatile international energy prices and global geopolitical shifts.
stock futures declined as investors awaited the results of the midterm elections. Market participants are closely watching the election outcomes as counting proceeds.