Nifty trade above 24,300 in early trade; breadth strong
At 09:30 IST, the barometer index, the S&P BSE Sensex, jumped 1,252.40 points or 1.63% to 78,592.13. The Nifty 50 index rose 352.55 points or 1.47% to 24,313.15.
In the broader market, the BSE 150 MidCap Index gained 1.32% and the BSE 250 SmallCap Index added 1.21%.
The market breadth was strong. On the BSE, 2,774 shares rose and 601 shares fell. A total of 178 shares were unchanged.
FPIs bought shares worth Rs 14,488.73 crore in November through 4 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.
Stocks in Spotlight:
Dabur India advanced 3.45% after the company reported a 12% YoY increase in net profit to Rs 506 crore in Q2 FY27, compared with Rs 453 crore a year ago, marking its fourth consecutive quarter of double-digit profit growth. Revenue also rose 11.7% to Rs 3,563 crore in Q2 FY27 from Rs 3,191 crore.
Lenskart Solutions rose 3.91% after the company reported a 124.70% surge in consolidated net profit to Rs 227.08 crore in Q2 FY27 compared with Rs 102.22 crore in Q2 FY26. Net sales jumped 35.73% YoY to Rs 2845.03 crore in the quarter ended 30th June 2026.
Numbers to Track:
The yield on India's 10-year benchmark federal paper declined 1.17% to 7.108 compared with the previous session close of 7.192.
In the foreign exchange market, the rupee edged lower against the dollar. The partially convertible rupee was hovering at 94.4925 compared with its close of 94.4600 during the previous trading session.
MCX Gold futures for 4 December 2026 settlement rose 1.92% to Rs 1,45,942.
The US Dollar Index (DXY), which tracks the greenback's value against a basket of currencies, was down 0.31% to 101.22.
The United States 10-year bond yield shed 1.14% to 4.837.
In the commodities market, Brent crude for December 2026 settlement declined $1.03 or 1.09% to $93.59 a barrel.
Global Markets:
Dow futures rose 133 points, signalling a positive opening for US stocks.
Asian equities traded mostly higher on Thursday, following a sharp rally on Wall Street after Democrats secured control of both chambers of the US Congress in the midterm elections. South Korean technology stocks remained under pressure amid concerns over the outlook for AI infrastructure investment.
South Korea's current account surplus widened sharply to a record high of $61.46 billion in September 2026, compared with $46.11 billion in August.
Wall Street rallied on Wednesday, 4 November 2026, after Democrats won control of both the Senate and the House of Representatives. The Dow Jones Industrial Average jumped 1,569.40 points, or 3.03%, to 53,356.12. The S&P 500 advanced 1.58% to 7,688.62, while the Nasdaq Composite gained 1.44% to 25,736.51. The Dow recorded its strongest daily gain since April 2025. Falling crude oil prices and expectations of reduced policy uncertainty also supported investor sentiment.
Technology stocks showed mixed performance. Microsoft gained 6.68%, Amazon advanced 6.12% and Apple rose 5.31%. However, Nvidia declined 3.17%, while Micron fell 7%. Data-centre operators came under pressure amid concerns that Democratic control of Congress could lead to tighter scrutiny of AI infrastructure expansion. CoreWeave dropped 9.9%, Tesla lost 3.34% and Trump Media plunged 24.54%.
AMD shares rose around 1% after the chipmaker reported third-quarter revenue of $13.38 billion, up 45% year on year, and forecast fourth-quarter revenue of approximately $17 billion, plus or minus 3%. The company also reported data-centre revenue growth of 97% to $8.55 billion. Qualcomm fell 4.8% in after-hours trading after reporting earnings and issuing its outlook. McDonald's gained 6.5% after reporting higher quarterly profit and revenue, while Uber advanced 4.9% after its revenue and adjusted earnings exceeded expectations.
Economic data showed that US private-sector employment increased by 86,000 jobs in October, according to ADP, following a gain of 90,000 in September. The Institute for Supply Management's services PMI eased to 54.5 in October from 54.9 in September, below the market forecast of 54.8. The services sector continued to expand, but the moderation in activity and new orders indicated a slower pace of growth.
The US 10-year Treasury yield eased to around 4.88% as investors assessed the election outcome and the implications for fiscal policy and interest rates. Markets continued to price in the possibility of further Federal Reserve rate increases, with the reported probability of at least a 25-basis-point hike in December at 81.2%.
Crude oil prices remained under pressure after Wednesday's sharp decline. Brent crude fell 8.7% to $94.62 a barrel, its lowest level in two months. The selloff followed expectations that the change in congressional control could constrain US policy on the Iran conflict and improve prospects for a diplomatic resolution.
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