The Indian stock market is expected to open positively, supported by upbeat global cues and a strong Gift Nifty. Key drivers include optimism around India-US trade talks and Bihar exit polls favoring the NDA alliance.
The Indian stock market looks set for a positive start on Wednesday, backed by upbeat global cues and optimism around the ongoing India–US trade talks. Gift Nifty is trading higher, hinting that Sensex and Nifty 50 could open in the green. On Tuesday, Indian indices extended their winning run for a second straight session. The Sensex jumped 335.97 points to 83,871.32, while the Nifty 50 gained 120.60 points to close at 25,694.95.
Siddhartha Khemka, Head of Research (Wealth Management) at Motilal Oswal Financial Services, said,
“The near-term market direction will hinge on the ongoing earnings season and progress on the US–India trade discussions. Any positive update could lift investor sentiment and support overall market momentum.”
Here’s a look at what’s shaping the market mood today:
1. Asian Markets Trade Positive
Asian shares opened higher on Wednesday after a mixed session on Wall Street. Japan’s Nikkei 225 gained 0.21%, Topix rose 0.35%, Kospi advanced 0.29%, and Kosdaq climbed 0.62%. Futures for Hong Kong’s Hang Seng Index also pointed to a mildly positive start.
2. Gift Nifty Signals a Gap-Up Start
Gift Nifty was trading near 25,955, up about 144 points from Tuesday’s close, suggesting a strong opening for the Indian benchmark indices.
3. Wall Street Ends Mixed
US markets closed mixed overnight. The Dow Jones Industrial Average hit a record high, gaining 1.18% to 47,927.96, while the S&P 500 rose 0.21%. The Nasdaq, however, slipped 0.25%.
Among stocks, Apple rose over 2%, while Nvidia and AMD dropped nearly 3% each. Paramount Skydance was a standout gainer, soaring almost 10%.
4. India–US Trade Talks in Focus
Global investors are keeping an eye on the upcoming India–US trade discussions. President Donald Trump has hinted that both countries are close to reaching a “fair deal” and that the US may reduce tariffs on Indian goods after New Delhi stopped importing Russian oil.
5. Bihar Exit Polls Favour NDA
Political sentiment is also in play. Exit polls from Bihar show a clear edge for the NDA alliance, projecting 130–160 seats, while the Mahagathbandhan is expected to secure 70–100 seats. The state has 243 Assembly seats, and a simple majority requires 122. The final results will be declared on November 14.
6. Macro Data: Taxes & Jobs
Back home, the government’s net direct tax collection touched Rs 12.92 lakh crore till November 10, a 7% year-on-year rise compared to Rs 12.08 lakh crore last year.
In the US, private payroll data from ADP Research showed that companies cut an average of 11,250 jobs per week in late October, signalling a slowdown in hiring momentum.
7. Gold Shines, Oil Slips
The US dollar weakened slightly, trading around 99.46, while the Japanese yen hovered at 154.08 per dollar.
Gold prices rose for a fourth straight session as the softer dollar lifted demand, spot gold gained 0.4% to $4,142.70 per ounce, and US futures advanced 0.8%.
After three days of gains, crude oil prices slipped, Brent fell 0.11% to $65.09, while WTI declined 0.10% to $60.97 per barrel.