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Informist, Thursday, Nov. 5, 2026                                      Tel +91 (22) 6985-4000

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Equity Alert: GIFT Nifty signals gap-up open for Nifty 50 as oil prices fall

 

MUMBAI--0905 IST--GIFT Nifty November futures indicate a gap-up open for the Nifty 50 Thursday, and the almost 9?ll in Brent crude oil futures on a closing basis Wednesday is expected to keep sentiment among market participants positive. The Democratic Party winning the US mid-term elections and the US President Donald Trump and Vice-President J. D. Vance saying the war against Iran was to blame for the Republicans' loss boosted investor sentiment world over. 

 

At 0748 IST, GIFT Nifty November futures were at 24300.50, up 339.9 points from the previous closing level of the 50-stock index. Resistance for the Nifty 50 is pegged at 24330-24450 points and support is at 23940-23850 points, Bajaj Broking said in a note this morning. Wednesday, the Nifty 50 ended at 23960.60, up 149.75 points or 0.6%. The BSE Sensex closed at 77301.40, up 383.55 points or 0.5%.

 

"But the real reason we lost is obvious to almost everyone," Vance said in a post on X. "The reason we lost is the war. The president himself said so last night," he added. However, while they agreed that the war was the reason for the loss in the crucial polls, Trump said that if given the choice, he would do it again. "I don't think about it. I did the right thing. I would have done it again," Trump had told The Wall Street Journal. 

 

In the US, deficit-linked concerns have been worrying economists for some time, but even with the Republicans losing the majority in the House of Representatives and the Senate, it will be difficult to bring about a significant shift in fiscal policies soon. On Wall Street overnight, indices surged as the mid-term election results eased fears of political uncertainty. The Dow Jones Industrial Average had hit its highest level in nearly two months intraday, and it closed 3% higher, while the Nasdaq Composite and S&P 500 closed over 1% and almost 2% higher. However, stocks linked to data centre development slumped.

 

Talks around tightening of policy to limit spending on artificial intelligence had been making the rounds, but nothing concrete on this front appears on the horizon. However, the market mood for AI stocks has been subdued for some time now due to high debt-linked expenditure incurred by hyperscalers. In Asia early Thursday, South Korea's benchmark Kospi index fell as much as 5%. 

 

After market hours Wednesday, Nifty 50 constituents, Apollo Hospitals and BSE, had reported their earnings for the September quarter. Apollo Hospitals' consolidated net profit was slightly below estimates, but sales beat the Street's view. Its earnings before interest, taxes, depreciation, and amortisation and EBITDA margin expanded on year, and its average revenue per in-patient grew by 8% to INR 186,880, which are key positives. BSE's bottom line and top line for the September quarter were better than what analysts estimated, but the exchange reported a sequential fall in both metrics. A sharp fall in equity options turnover, based on premium, due to the introduction of the closing auction session was the key factor behind the fall. How market participants react to these earnings will be key to watch. 

 

Thursday, four Nifty 50 constituents are set to report their quarterly results -- Bharti Airtel, Mahindra & Mahindra, Titan Co., and Oil and Natural Gas Corp. Titan is expected to post a net profit of INR 14.10 billion. M&M is seen reporting a 3% year-on-year rise in net income to INR 46.73 billion. ONGC is expected to report a net profit of INR 156.20 billion, up over 59% on year.  (Ruchira Kagita)

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Equity Alert: Most Asian indices in Asia up as oil prices fall; chip stocks tumble

 

MUMBAI--0820 IST--Most Asian indices rose Thursday, tracking overnight gains in the US stock market as the Democrats' victory in the US midterm elections erased political uncertainty. A sharp fall in Brent crude oil futures also lifted investor sentiment, with prices hovering around $94 per barrel. Among key indices, Hong Kong's Hang Seng index rose around 3% while South Korea's Kospi fell 4%. A sell-side sidecar was triggered on the Korean exchange, halting trading after the Kospi 200 Futures Index fell 5%.

 

Most Asian semiconductor and artificial intelligence stocks fell as investors assessed the implications of the Democratic Party's victory for data-centre development, as Congress could impose tighter restrictions, according to CNBC. The Japanese semiconductor equipment maker Advantest Corp. declined nearly 9%, while Lasertec Corp. fell more than 10%. Tokyo Electron and Renesas Electronics Corp. fell 7% and 4%, respectively. Japan's Nikkei 225 fell marginally while its broader Topix First Section gained over 1%. However, major auto and bank shares traded higher. 

 

In South Korea, memory chip major SK Hynix fell more than 6%, while Samsung Electronics fell nearly 5%. Meanwhile, China's CSI index rose nearly 1%, while Hong Kong's Hang Seng was the region's top gainer. Key technology stocks rose in Hong Kong, with the sectoral Hang Seng TECH Index up over 5%. Shares of Tencent Holdings and Xiaomi Corp. rose over 6% and nearly 8%, respectively, while Alibaba Group Holding gained nearly 7%.  

 

The following are the levels of key indices in Asia at 0750 IST: 

 

Index	Level	Change in %
Nikkei 225 Day	62020.99	(-)0.3
TOPIX FIRST SECTION	3949.79	1.4
S&P/ASX 200 Index	9004.20	1.9
KOSPI Index	5454.36	(-)4.0
Hang Seng Index	24632.32	3.0
CSI 300 Index	4126.40	0.6
FTSE Singapore Strait Times	5293.88	0.5

 

(Vidhi Thacker)

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Equity Alert: US stocks jump as Democrats win US midterm polls; Dow Jones up 3%

 

MUMBAI--0730 IST--Major US equity indices jumped Wednesday as Democrats' victory in the US midterm elections and US President Donald Trump's acceptance of the results eased uncertainty hanging over the markets. Gains were also supported by a nearly 9?ll in Brent crude oil futures, which closed near $95 per barrel. At 0738 IST, January Brent crude oil futures were nearly 1% lower at $94.06 per barrel. Among key indices, the Dow Jones Industrial Average jumped slightly over 3% and ended above the 53000 mark for the first time since Sept. 4.     

 

Crude oil prices fell as US Vice President JD Vance blamed the war against Iran for the Republicans losing the midterm elections. "There's just going to be even more pressure to end the war. The American people have obviously expressed their displeasure with inflation and the price of gasoline, amongst other things, and maybe this just pushes for an end to it. We'll have to see," Peter Boockvar, chief investment officer at One Point BFG Wealth Partners, told CNBC.    

 

Walmart and Target Corp. shares ended over 3% and nearly 6% higher, respectively, while Bank of America shares closed 4% higher. Most of the "Magnificent Seven" stocks ended higher except Nvidia and Tesla. Microsoft and Amazon were up about 6?ch, while Apple and Alphabet gained over 5% and 3%, respectively. Consumer defensive player Helen of Troy ended up more than 25?ter the company rejected a $37 per share cash takeover proposal from Empower Brands. 

 

Despite the gains in major big-tech stocks, select stocks linked to data-centre businesses ended lower. Coreweave was down nearly 10%, while Micron Technology ended 7% lower. "There is no way to sugarcoat that Democrats taking control, especially over the Senate, will create some major hurdles for AI and tech legislation in the Beltway over the next 2 years," Dan Ives, partner at Yorkville Ives & Co., told CNBC.

 

Following are the closing levels of key US indices Wednesday: 

 

Index	Level	Change in %
Dow Jones Industrial Average	53356.12	3.0
NASDAQ Composite	25736.51	1.4
S&P 500	7688.62	1.6

 

(Vidhi Thacker)

 

US$1 = INR 94.36

IST, or Indian Standard Time, is five-and-a-half hours ahead of GMT

 

Edited by Himanshi Gupta

 

All prices from National Stock Exchange, unless otherwise specified.

All percentage changes for share prices are rounded off to the nearest whole number; percentage changes for index values are rounded off to one decimal place.

All times are Indian Standard Time.

 

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