Indian benchmark indices, the Sensex and Nifty 50, opened lower ahead of the US midterm election results but soon staged a recovery, extending their gains as the session progressed.
The BSE Sensex was trading at 77,185.43, up 267.58 points or 0.35%, while the Nifty 50 was quoting at 23,883.20, higher by 72.35 points or 0.30%.
On BSE, ITC, HDFC Bank and Adani Ports were among the top gainers, while Power Grid, TCS and Eternal were among the top laggards.
Broader markets were mixed. Nifty Small Cap 100 index slipped 0.08%, while Nifty Mid Cap 100 index gained 0.02%.
Sectorally, Nifty FMCG was the top gainer, up over 1%. On the flipside, Nifty IT and Metal lagged.
In the previous trading session, the BSE Sensex settled at 76,917.85, gaining 1,225.07 points, or 1.62%. The NSE Nifty 50 also ended higher, rising 370.05 points, or 1.58%, to close at 23,810.85.
Global Cues
Asian markets fell amid uncertainty over the US midterm election results, with early indications pointing towards a possible Democratic victory over Republicans.
South Korea’s Kospi and Nikkei tumbled 3% and 4%, respectively. ASX 200 slipped 0.76%.
Crude Oil Prices Today
Crude oil prices resumed their upward move on Wednesday, November 4, after declining for two consecutive sessions, as investors assessed the uncertainty surrounding peace negotiations between the US and Iran.
Brent crude was last trading 0.74% higher at $104.30 a barrel.
Qatar’s Foreign Ministry spokesperson said the US and Iran were considering fresh proposals put forward by mediators to resolve their differences. However, Iran’s national security chief indicated in a social media post that Washington’s response to the proposals remained unsatisfactory.
Investors will also track developments in the ongoing geopolitical conflicts, along with the latest corporate earnings announcements, for further cues on the domestic market.
