The Indian stock market extended sharp gains on Wednesday, with Sensex and Nifty rising to the highest levels in more than two months. Sensex jumped 384 points to close at 77,301. Vinod Nair said, “Diwali fireworks continued on Dalal Street, with mid- and small-caps extending their outperformance as risk appetite strengthened.”
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
Here's how analysts read the market pulse
Live Events
"“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.
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.
(You can now subscribe to our ETMarkets WhatsApp channel)
(What's moving Sensex and Nifty Track latest market news, stock tips, Budget 2025, Share Market on Budget 2025 and expert advice, on ETMarkets. Also, ETMarkets.com is now on Telegram. For fastest news alerts on financial markets, investment strategies and stocks alerts, subscribe to our Telegram feeds .)
Subscribe to ET Prime and read the Economic Times ePaper Online.and Sensex Today.
Top Trending Stocks: SBI Share Price, Axis Bank Share Price, HDFC Bank Share Price, Infosys Share Price, Wipro Share Price, NTPC Share Price
...moreless
(You can now subscribe to our ETMarkets WhatsApp channel)
(What's moving Sensex and Nifty Track latest market news, stock tips, Budget 2025, Share Market on Budget 2025 and expert advice, on ETMarkets. Also, ETMarkets.com is now on Telegram. For fastest news alerts on financial markets, investment strategies and stocks alerts, subscribe to our Telegram feeds .)
Subscribe to ET Prime and read the Economic Times ePaper Online.and Sensex Today.
Top Trending Stocks: SBI Share Price, Axis Bank Share Price, HDFC Bank Share Price, Infosys Share Price, Wipro Share Price, NTPC Share Price
...moreless
Some elections matter more than you know: No crop changed in the fields, yet sugar, coffee and soya got cheaper in a day
You can buy a walkie-talkie online. But can you legally use it?
KYB and KYC: Quick commerce, the Damani premium and what DMart must deliver – 3rd and concluding part
KYC and KYB: Inside Damani’s DMart, the retail chain for the middle class. And stock for the long term? – Part 2 of 3
Will it be a regulatory nightmare if an exchange lists on its own platform?
KYC and KYB: Inside Damani’s Avenue Supermarts that refuses to charge more – Part 1 of 3