Nifty above 24,350; IT shares in demand
At 11:30 IST, the barometer index, the S&P BSE Sensex, jumped 1,431.80 points or 1.88% to 78,732.70. The Nifty 50 index rose 414.90 points or 1.73% to 24,375.50.
In the broader market, the BSE 150 MidCap Index gained 1.79% and the BSE 250 SmallCap Index added 1.17%.
The market breadth was strong. On the BSE, 3,097 shares rose and 1,021 shares fell. A total of 214 shares were unchanged.
Buzzing Index:
The Nifty IT index jumped 2.37% to 32,821.35. The index fell 1.50% in the past trading session.
LTM (up 3.24%), Infosys (up 3.03%), Tech Mahindra (up 2.5%), Tata Consultancy Services (up 2.04%) and Mphasis (up 1.93%), HCL Technologies (up 1.85%), Persistent Systems (up 1.7%), Wipro (up 1.57%), Coforge (up 1.37%) and Oracle Financial Services Software (up 1.08%) rose.
Global Markets:
Dow futures rose 129 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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