GIFT Nifty signals strong opening; FPI buying, easing crude oil prices lift sentiment
GIFT Nifty:
GIFT Nifty November 2026 futures surged 468.50 points, pointing to a strong opening for the Nifty 50.
Institutional Flows:
Foreign portfolio investors (FPIs) bought shares worth Rs 6,836.81 crore, while domestic institutional investors (DIIs) were net sellers of Rs 3,678.85 crore in the Indian equity market 3 November 2026, according to provisional data.
FPIs bought shares worth Rs 7590.11 crore in November through 3 November 2026. This follows net selling of Rs 48,082.27 crore in October 2026, while FPIs were net sellers of Rs 45,536.89 crore in September 2026.
Global Markets:
Dow futures fell 373 points, signalling a negative opening for US stocks.
Asian equities came under pressure on Wednesday, 4 November 2026, as technology stocks extended losses amid concerns over foreign fund outflows and the returns from artificial intelligence investments. South Korea's Kospi and Taiwan's Taiex were among the worst performers.
Investors are closely watching the US midterm election results as vote counting gets underway. The outcome will determine control of Congress and could shape President Donald Trump's policy agenda for the remainder of his term.
The weakness in South Korea and Taiwan followed heavy selling in technology shares. The broader semiconductor sector remains sensitive to investor reassessments of spending on AI infrastructure.
Wall Street ended mixed on Tuesday, 3 November 2026, as a rebound in major technology stocks lifted the S&P 500 and Nasdaq, while the Dow remained lower. The Dow Jones Industrial Average fell 197.26 points, or 0.38%, to 51,786.72. The S&P 500 rose 27.52 points, or 0.36%, to 7,568.92, while the Nasdaq Composite gained 207.65 points, or 0.83%, to 25,372.01. The broader market remained subdued, with more S&P 500 stocks declining than advancing.
Technology shares recovered after recent losses. Nvidia rose 2.29%, Microsoft gained 2.74% and Amazon advanced 2.06%. Broadcom added 3.07%, while Micron gained 2.6%. The Philadelphia Semiconductor Index climbed around 3%, helping the Nasdaq end a three-session losing streak.
Apple fell 1.90% after warning that higher memory-chip costs could put pressure on its December-quarter gross margin. The company reported fiscal fourth-quarter revenue of $114.5 billion, up 12% year on year, against analyst expectations of $113.4 billion. Net income increased 12% to $30.71 billion, while earnings per share stood at $2.10, above the $1.99 estimate. However, its December-quarter gross margin forecast of 45% to 46% was below the 47.9% reported in the September quarter.
AMD shares were in focus in after-hours trading after the chipmaker reported record third-quarter revenue of $13.38 billion, up 45% year on year. GAAP net income increased 95% to $2.43 billion, while diluted earnings per share rose to $1.46 from $0.75. Non-GAAP earnings per share climbed 74% to $2.09. Data Centre revenue nearly doubled, rising 97% to $8.55 billion.
AMD forecast fourth-quarter revenue of approximately $17 billion, plus or minus 3%, with a non-GAAP gross margin of around 55%. The revenue outlook implies year-on-year growth of approximately 66% at the midpoint. The guidance is significant for semiconductor stocks as investors assess demand for AI processors and data-centre infrastructure.
Other notable movers included Shopify, which fell 8.74%, and DuPont, which surged more than 9% after reporting better-than-expected results and raising its outlook. Gartner and Thomson Reuters also declined following their earnings updates.
On the economic front, US job openings increased to 7.531 million in September from 7.147 million in August, according to the Bureau of Labor Statistics. The increase suggested stronger labour demand, although job openings alone do not establish the pace of actual hiring. The data will be watched for its implications for the Federal Reserve's assessment of labour-market conditions and interest rates.
Crude oil prices edged lower in early Asian trading on Wednesday. Brent crude fell 0.25% to $103.34 a barrel. Investors continued to assess prospects for a US-Iran agreement to end the conflict. However, a senior Iranian official told the media that the two sides remained far from a deal. The market is also awaiting official US inventory data after the American Petroleum Institute reported an unexpected 5.27-million-barrel decline in crude stocks for the week ended 30 October.
Domestic Market:
The key equity indices ended sharply higher on Tuesday, extending their winning streak to a fourth consecutive session. Easing crude oil prices and continued FII buying supported sentiment. Expectations of a review of long-term capital gains tax also boosted investor confidence.
Finance Minister Nirmala Sitharaman said the government would consider requests to review capital gains taxes on foreign investors. A stronger rupee and value buying in large-cap stocks further supported the rally. Weakness in global AI-linked stocks also aided Indian equities.
However, investors remained cautious about geopolitical developments involving Iran. The Nifty closed above the 23,800 level. FMCG, realty and private bank shares were in demand. On the other hand, PSU banks and metal shares decined.
The S&P BSE Sensex jumped 1,225.07 points, or 1.62%, to 76,917.85, while the Nifty 50 rose 370.05 points, or 1.58%, to 23,810.85. In four consecutive sessions, the Sensex gained 5.01%, while the Nifty 50 added 4.47%.
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