GIFT Nifty:

The GIFT Nifty November futures contract is trading 10 points higher, suggesting a positive opening for the Nifty 50.

Institutional Flows:

Foreign portfolio investors (FPIs) sold shares worth Rs 2,569.41 crore, while domestic institutional investors (DIIs) were net buyers to the tune of Rs 3,030.96 crore in the Indian equity market on 5 November 2024, provisional data showed.

According to NSDL data, FPIs have sold shares worth over Rs 10493.30 crore (so far) in the secondary market during November 2024. This follows their sale of shares worth Rs 1,13,858.81 crore in October 2024.

Global Markets:

The Dow Jones index futures soars 504 points, signaling a strong opening for U.S. stocks today, as early vote counts showed Donald Trump leading Kamala Harris.

Asian stocks advanced on Wednesday, mirroring Wall Street's overnight gains, as markets monitored the results of a highly contested U.S. presidential election. Investors also focused on potential additional stimulus measures from China.

On Tuesday, U.S. stock indexes surged, recovering from recent losses due to gains in technology stocks. Speculation over an upcoming rate cut by the Federal Reserve further boosted risk appetite. The S&P 500 climbed 1.2% to 5,782.76 points, while the NASDAQ Composite increased 1.4% to 18,438.62 points. The Dow Jones Industrial Average rose 1.02% to 42,221.88 points.

Attention this week remains on the Federal Reserve meeting, where the central bank is expected to reduce interest rates by 25 basis points.

Domestic Market:

The domestic equity benchmarks ended Tuesday's trading session with significant gains, primarily driven fag-end buying in metal, banking, and financial stocks. The Nifty 50 index closed above the 24,200 level, recovering from an intraday low of 23,842.75. This uptick was fueled by optimism regarding a potential consumption revival in the second half of the fiscal year and anticipation of a substantial stimulus package from China later this week. The S&P BSE Sensex rallied 694.39 points or 0.88% to 79,476.63. The Nifty 50 index advanced 217.95 points or 0.91% to 24,213.30.

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