Indian benchmark indices Sensex and Nifty 50 are likely to see a weak opening on November 7, tracking cues from GIFT Nifty trading around 24,446, a short while ago this morning.
Track the latest updates on GIFT Nifty right here on Moneycontrol.
Indian equity market cheered Donald Trump's victory in the US presidential election and extended the winning streak for the second straight session on November 6, with Nifty rising above 24,500, amid buying across sectors especially in IT, realty, oil & gas and power names.
However, investors are also hoping for another rate cut by the Federal Reserve in its meeting scheduled on November 7.
At close, the Sensex was up 901.50 points or 1.13 percent at 80,378.13, and the Nifty was up 270.75 points or 1.12 percent at 24,484.
Here is how financial markets across the globe fared overnight:
GIFT Nifty (Down)
The GIFT Nifty is trading weak, indicating a negative start for the day. Nifty futures were trading at 24,446 at 07:00 am IST.
Asian Equities (Mixed)
Asian stocks trade mixed as investors weighed the market ramifications of a second Trump presidency, with its promise of steeper tariffs. The dollar edged higher after surging more than 1% on Wednesday.
| Change From Previous Close (%) | MTD (%) | YTD (%) | |
| Topix | 0.28 | -0.45 | 6.34 |
| Nikkei | -0.86 | -1.31 | 8.08 |
| Hang Seng | -0.11 | 1.21 | 22.57 |
| Taiwan | 0.70 | 1.78 | 24.95 |
| Kospi | -0.38 | -1.60 | -10.24 |
US stocks rallied sharply to close at record highs on Wednesday after Republican Donald Trump won the 2024 U.S. presidential election in a stunning comeback four years after being voted out of the White House.
The Dow Industrials, S&P 500 and Nasdaq Composite each ended at record levels with investors expecting lower taxes, deregulation and a U.S. president who is not shy to weigh in on everything from the stock market to the dollar, although fresh tariffs could bring challenges in the form of a higher deficit and inflation.
The Dow Jones Industrial Average rose 1,508.05 points, or 3.57%, to 43,729.93, the S&P 500 gained 146.28 points, or 2.53%, to 5,929.04 and the Nasdaq Composite gained 544.29 points, or 2.95%, to 18,983.47.
Both the Dow and S&P 500 registered their biggest one-day percentage gains since November 2022. The Nasdaq notched its biggest daily percentage gain since February.
| Change From Previous Close (%) | MTD (%) | YTD (%) | |
| Dow Jones | 3.57 | 4.95 | 17.52 |
| S&P500 | 2.53 | 4.36 | 25.90 |
| Nasdaq | 2.95 | 5.15 | 29.09 |
US 10-Year Treasury shed 18 bps at 4.42 percent, while US 2-Year Treasury fell 20 bps at 4.25 percent in the early trade on Thursday.
| Current Price | MTD | YTD | |
| US 10-Year Treasury | 4.42 | 4.02 | 4.56 |
| US 2-Year Treasury | 4.25 | 3.99 | 4.91 |
The dollar hovered off a four-month high on Thursday as the market continued to digest Republican Donald Trump's win in the U.S. presidential election, while investors eyed several central bank decisions that will be topped off by the Federal Reserve.
| Current Price | MTD | YTD | |
| Dollar Index | 105.16 | 102.53 | 105.54 |
Except Japanese Yen, all other Asian currencies were trading lower in the early trade on Thursday. The Japan’s currency edged higher after chief currency official Atsushi Mimura said the authorities will take appropriate action against excessive currency moves.
| Change From Previous Close (%) | MTD (%) | YTD (%) | |
| Indonesian Rupiah | -0.531 | -0.922 | -2.74 |
| South Korean Won | -0.086 | -4.11 | -7.91 |
| Japanese Yen | 0.104 | -4.06 | -8.70 |
| Philippines Peso | -0.134 | -3.36 | -5.75 |
| Thai Baht | -0.116 | -2.64 | -0.424 |
| Taiwan Dollar | -0.297 | -0.489 | -5.38 |
| China Renminbi | -0.984 | -2.18 | -1.04 |
| Malaysian Ringgit | -0.407 | -3.10 | 3.89 |
| Singapore Dollar | -0.082 | -2.26 | -1.04 |
Oil prices edged up on Thursday following a sell-off triggered by the US presidential election, as risks to oil supply from a Trump presidency and a hurricane building in the Gulf Coast outweighed a stronger US dollar and higher inventories.
| Change From Previous Close (%) | MTD (%) | YTD (%) | |
| US West Texas | 0.28 | 3.80 | 0.38 |
| Brent Crude | 0.30 | 2.82 | -2.38 |
Gold prices declined further on Thursday after plunging more than 3% in the previous session, with markets weighing the outlook for the US and global economy following Donald Trump’s decisive White House victory.
| Change From Previous Close (%) | MTD (%) | YTD (%) | |
| Gold | -0.41 | -3.42 | 28.34 |
| Silver | -0.65 | -5.07 | 30.16 |
The LME commodities price were trading mostly lower in the early trade on Thursday with Zinc and Copper shed more than 4 percent each, while Lead prices gained 1 percent.
| Change From Previous Close (%) | MTD (%) | YTD (%) | |
| Aluminium | -1.07 | -0.08 | 9.71 |
| Copper | -4 | -1.71 | 9.16 |
| Nickel | 0.02 | 2.60 | -2.87 |
| Lead | 0.99 | 1.41 | -0.99 |
| Zinc | -4.20 | -1.85 | 11.85 |
The foreign institutional investors (FIIs) sold equities worth Rs 4,445 crore on November 6, while domestic institutional investors bought equities worth Rs 4,889.33 crore on the same day.
| 6th Nov | MTD | YTD | |
| FII Net Flows | -4,445.59 | -1,04,765.99 | -2,46,753.49 |
| DII Net Flows | 4,889.33 | 1,75,881.50 | 4,81,465.21 |
Disclaimer: The views and investment tips expressed by investment experts on Moneycontrol.com are their own and not those of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.
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