Indian benchmark indices are likely to see a gap-down start on November 6, tracking GIFT Nifty which fell 188 points. This follows a strong rally on November 5 where the Nifty closed above 24,500. Now, Asian markets and US equities showed a slump, causing caution among many local traders today.

Indian benchmark indices are likely to see a gap-down start on November 6, tracking GIFT Nifty, which is trading lower by 188 points at 24,410.50 in early trade.

Track the latest updates on GIFT Nifty right here on Moneycontrol

Diwali fireworks continued on Dalal Street as benchmark indices extended their winning streak to a sixth consecutive session on November 5, marking their longest rally since November 2025. The Nifty reclaimed the 24,000 mark and closed above 24,500 for the first time since August 7, 2026.

A sharp overnight decline in crude oil prices helped domestic indices open on a strong note. Hopes of an early resolution to the West Asia conflict, a strong rally in US equity markets, rupee appreciation, broad-based buying across sectors and sustained foreign fund inflows further lifted investor sentiment.

At close, the Sensex was up 2,008.61 points or 2.60 percent at 79,310.01, and the Nifty was up 576.00 points or 2.40 percent at 24,536.60.

The market capitalization of BSE-listed companies crossed the Rs 500 lakh crore milestone, rising ₹8 lakh crore on November 5, from the previous session's Rs 4,93,44,339.41 crore.

Here is how financial markets across the globe fared overnight:

GIFT Nifty (Down)

GIFT Nifty was trading lower at around 24,410.50 in early trade, indicating a weak opening for the domestic equity markets.

Asian Markets (Down)

Asian stocks slumped from the open after a post-election rout in chipmakers deepened on Wall Street amid growing concern that Democrats will seek tighter regulation of the artificial intelligence industry.

South Korea’s tech-heavy Kospi Index slid as much as 8.8%, triggering a circuit breaker, with chipmakers Samsung

Electronics Co. and SK Hynix Inc. both plunging more than 8%.

Japan’s benchmark Nikkei 225 Stock Average tumbled 6.4%, while the MSCI Asia Pacific Index declined 3.1%. Taiwan’s benchmark slid 8.9%, weighed down by a slump in Taiwan Semiconductor Manufacturing Co.

US Equities (Slip)

The Nasdaq Composite ended sharply lower on Thursday, notching its deepest one-day drop in 19 months ​and confirming it was in a correction, as chipmakers sank on fears of tougher AI regulation after Democrats won ‌control of the US Congress.

The S&P 500 dropped ​4.36% to end the session ​at 7,353.73 points.

The Nasdaq declined 5.52% ⁠to 24,315.00 points, while the Dow Jones Industrial Average fell 3.44% to 51,523.06 points.

Dollar Index (Up)

The dollar index was up marginally against the other major currencies in the early Friday trade..

US Bond Yield (Flat)

The yield on the benchmark US 10-year Treasury was little changed in the early trade on Friday at 4.83% and 4.46%.

Asian Currencies (Mixed)

Asian currencies traded mixed against the US dollar; the Indonesian rupiah appreciated 0.476%, followed by the South Korean won, which gained 0.199%. The Chinese renminbi also strengthened 0.121%, indicating mild gains across some regional currencies.

On the other hand, the Taiwan dollar depreciated 0.36%, while the Malaysian ringgit declined 0.21% and the Thai baht fell 0.158%. The Singapore dollar and Japanese yen slipped 0.07% and 0.095%, respectively. The Philippine peso was largely flat, edging down 0.003%.

Crude (Up)

Oil was on track for the biggest weekly loss since April after a volatile stretch of trading, as investors weighed prospects for an end to the months-long war in the Middle East.

West Texas Intermediate rose to trade near $91 a barrel on Friday, extending a rebound from a sharp selloff following a Democratic sweep of the US midterm elections. Still, prices are down more than 12% this week.

Gold (Flat)

Gold was on track for its biggest weekly gain since August after the US midterm elections sent the dollar and Treasury yields lower.

Bullion traded around $4,090 an ounce, on track for a weekly advance of more than 5%.

Fund Flow Action

Foreign institutional investors (FIIs) extended their buying streak for the fifth consecutive session on November 5, purchasing equities worth Rs 14,974 crore. In contrast, domestic institutional investors (DIIs) remained net sellers, offloading equities worth Rs 10,444 crore.

Hope you're all set for today's trade. We wish you a profitable day ahead.