Ahead of Market: 10 things that will decide stock market action on Thursday
Indian markets extended their rally, with Sensex gaining 384 points to 77,301 and Nifty rising 150 points to 23,961, marking two-month highs. Positive sentiment, strong earnings, festive demand and buying across mid- and small-caps supported gains.
By Debaroti Adhikary, ETMarkets.com |
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The Indian stock market extended sharp gains on Wednesday, with Sensex and Nifty rising to the highest levels in more than two months amid a sharp rally this week. Investors are now closely eyeing the outcome of the US midterm elections.
Sensex jumped around 384 points to cross 77,300 mark for the first time since late August, closing at 77,301. Nifty 50 meanwhile rose 150 points to close at 23,961, crossing the crucial 23,900 mark for the first time in two months.
For live updates on US Markets, click here
Also read | Sensex jumps 383 points, Nifty closes above 23,950 as benchmark indices scale 2-month highs. What lies ahead?
Here's how analysts read the market pulse
"“Diwali fireworks” continued on Dalal Street, with mid- and small-caps extending their outperformance as risk appetite strengthened. The U.S. midterm outcome improved global sentiment, raising expectations of a more measured approach to trade and tariff policies and potentially supporting FII flows into emerging markets. Domestically, optimism around possible tax relief maybe in the upcoming Union Budget, better-than-expected quarterly earnings and resilient festive consumption added momentum to the rally. Improving earnings visibility and healthy domestic demand should keep the near-term bias constructive, although geopolitical risks and crude oil volatility could trigger intermittent profit booking,” said Vinod Nair, Head of Research, Geojit Investments Limited.
US stocks
US stocks rose on Wednesday as investors bet a divided Washington after the Democrats' midterm sweep could limit sharp policy shifts, though data center stocks were under pressure as concerns over tighter AI regulation weighed.
Democrats seized control of both the Senate and House of Representatives, scoring stunning wins in Republican strongholds for the first time in generations in a broad voter backlash against President Donald Trump.
The prospect of fewer sweeping legislative changes lifted some large technology stocks, but companies tied to the AI infrastructure buildout fell.
Among hyperscalers, Amazon.com jumped 7.1%, while Meta Platforms added 1.6% and Alphabet gained 3.4%.
European markets
European shares rose on Wednesday, lifted by banks and clean-energy stocks after Democrats won control of both chambers of the US Congress, while Wegovy maker Novo Nordisk surged on an upgraded annual forecast.
The pan-European STOXX 600 index advanced nearly 1%. Lenders-focused benchmarks in Italy's and Spain climbed 2.2% and 1.6%, respectively.
Most active stocks in terms of turnover
HDFC Bank (Rs 3,725 crore), RIL (Rs 2,545 crore), Bharti Airtel (Rs 2,318 crore), MCX India (Rs 2,081 crore), Fractal Analytics (Rs 1,594 crore), BSE (Rs 1,518 crore), and ICICI Bank (Rs 1,510 crore) were among the most active stocks on NSE in value terms. Higher activity in a counter in value terms can help identify the counters with the highest trading turnovers in the day.
Also read | Diwali 2026: Will banking stocks shine in Samvat 2083? Analysts list top picks
Most active stocks in volume terms
Vodafone Idea (Traded shares: 28.52 crore), Yes Bank (Traded shares: 12.23 crore), Suzlon Energy (Traded shares: 10.47 crore), Vedanta Power (Traded shares: 8.95 crore), Zee Entertainment Enterprises (Traded shares: 7.93 crore), JP Power (Traded shares: 5.19 crore) and Sagility India (Traded shares: 5.16 crore) were among the most actively traded stocks in volume terms on NSE.
Stocks showing buying interest
HEG, Fractal Analytics, Guj Mineral Dev., Zee Entertainment Enterprises, Redington, Emcure Pharma and Linde India were among the stocks that witnessed strong buying interest from market participants.
52-week high
Among the ones which hit their 52-week highs on NSE included Emcure Pharma, Dr Lal Pathlabs, Welspun India, PVR Inox, Bosch, Ather Energy and Adani Ports.
Stocks seeing selling pressure
Stocks which witnessed significant selling pressure were Thangamayil Jewellery, AIA Engineering, MCX India, MTAR Technologies, TBO Tek, Cadila Healthcare and Ami Organics.
52-week low
Among the ones which hit their 52-week lows on NSE included AIA Engineering, Clean Science & Tech, REC, KEC International, Concord Biotech and Zee Entertainment Enterprises.
Sentiment meter favours bulls
Out of the 3,704 stocks that traded on the NSE on November 4, Wednesday, 2,720 stocks witnessed advances, 883 stocks saw declines while 101 stocks remained unchanged.
Also read | US midterm elections: Can Trump’s pain be Dalal Street’s gain? Analysts estimate impact in 3 possible scenarios
Disclaimer: This article has been written by Debaroti Adhikary, who is not a SEBI-registered Research Analyst or an Investment Adviser. Debaroti Adhikary and his/her ‘relative(s)’ (as defined under Section 2(77) of the Companies Act, 2013) do not hold any financial interest in the companies mentioned in this article as of the date of publication. The views/recommendations mentioned in this article, wherever applicable, are those of the respective SEBI-registered Research Analyst/brokerage and have been reproduced/reported with due attribution. They should not be construed as the views or recommendations of The Economic Times Digital or the journalist. Readers are advised to consider the original research report and make their investment decisions based on their own assessment. Brokerage disclaimershere.
Sensex jumped around 384 points to cross 77,300 mark for the first time since late August, closing at 77,301. Nifty 50 meanwhile rose 150 points to close at 23,961, crossing the crucial 23,900 mark for the first time in two months.
For live updates on US Markets, click here
Also read | Sensex jumps 383 points, Nifty closes above 23,950 as benchmark indices scale 2-month highs. What lies ahead?
Here's how analysts read the market pulse
"“Diwali fireworks” continued on Dalal Street, with mid- and small-caps extending their outperformance as risk appetite strengthened. The U.S. midterm outcome improved global sentiment, raising expectations of a more measured approach to trade and tariff policies and potentially supporting FII flows into emerging markets. Domestically, optimism around possible tax relief maybe in the upcoming Union Budget, better-than-expected quarterly earnings and resilient festive consumption added momentum to the rally. Improving earnings visibility and healthy domestic demand should keep the near-term bias constructive, although geopolitical risks and crude oil volatility could trigger intermittent profit booking,” said Vinod Nair, Head of Research, Geojit Investments Limited.
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US stocks
US stocks rose on Wednesday as investors bet a divided Washington after the Democrats' midterm sweep could limit sharp policy shifts, though data center stocks were under pressure as concerns over tighter AI regulation weighed.
Democrats seized control of both the Senate and House of Representatives, scoring stunning wins in Republican strongholds for the first time in generations in a broad voter backlash against President Donald Trump.
The prospect of fewer sweeping legislative changes lifted some large technology stocks, but companies tied to the AI infrastructure buildout fell.
ADVERTISEMENT
Among hyperscalers, Amazon.com jumped 7.1%, while Meta Platforms added 1.6% and Alphabet gained 3.4%.
European markets
ADVERTISEMENT
European shares rose on Wednesday, lifted by banks and clean-energy stocks after Democrats won control of both chambers of the US Congress, while Wegovy maker Novo Nordisk surged on an upgraded annual forecast.
The pan-European STOXX 600 index advanced nearly 1%. Lenders-focused benchmarks in Italy's and Spain climbed 2.2% and 1.6%, respectively.
Most active stocks in terms of turnover
HDFC Bank (Rs 3,725 crore), RIL (Rs 2,545 crore), Bharti Airtel (Rs 2,318 crore), MCX India (Rs 2,081 crore), Fractal Analytics (Rs 1,594 crore), BSE (Rs 1,518 crore), and ICICI Bank (Rs 1,510 crore) were among the most active stocks on NSE in value terms. Higher activity in a counter in value terms can help identify the counters with the highest trading turnovers in the day.
Also read | Diwali 2026: Will banking stocks shine in Samvat 2083? Analysts list top picks
Most active stocks in volume terms
Vodafone Idea (Traded shares: 28.52 crore), Yes Bank (Traded shares: 12.23 crore), Suzlon Energy (Traded shares: 10.47 crore), Vedanta Power (Traded shares: 8.95 crore), Zee Entertainment Enterprises (Traded shares: 7.93 crore), JP Power (Traded shares: 5.19 crore) and Sagility India (Traded shares: 5.16 crore) were among the most actively traded stocks in volume terms on NSE.
Stocks showing buying interest
HEG, Fractal Analytics, Guj Mineral Dev., Zee Entertainment Enterprises, Redington, Emcure Pharma and Linde India were among the stocks that witnessed strong buying interest from market participants.
52-week high
Among the ones which hit their 52-week highs on NSE included Emcure Pharma, Dr Lal Pathlabs, Welspun India, PVR Inox, Bosch, Ather Energy and Adani Ports.
Stocks seeing selling pressure
Stocks which witnessed significant selling pressure were Thangamayil Jewellery, AIA Engineering, MCX India, MTAR Technologies, TBO Tek, Cadila Healthcare and Ami Organics.
52-week low
Among the ones which hit their 52-week lows on NSE included AIA Engineering, Clean Science & Tech, REC, KEC International, Concord Biotech and Zee Entertainment Enterprises.
Sentiment meter favours bulls
Out of the 3,704 stocks that traded on the NSE on November 4, Wednesday, 2,720 stocks witnessed advances, 883 stocks saw declines while 101 stocks remained unchanged.
Also read | US midterm elections: Can Trump’s pain be Dalal Street’s gain? Analysts estimate impact in 3 possible scenarios
Disclaimer: This article has been written by Debaroti Adhikary, who is not a SEBI-registered Research Analyst or an Investment Adviser. Debaroti Adhikary and his/her ‘relative(s)’ (as defined under Section 2(77) of the Companies Act, 2013) do not hold any financial interest in the companies mentioned in this article as of the date of publication. The views/recommendations mentioned in this article, wherever applicable, are those of the respective SEBI-registered Research Analyst/brokerage and have been reproduced/reported with due attribution. They should not be construed as the views or recommendations of The Economic Times Digital or the journalist. Readers are advised to consider the original research report and make their investment decisions based on their own assessment. Brokerage disclaimershere.
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