Indian stocks poised to open lower as US midterm vote outcome looms

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The Economic Times daily newspaper is available online now. Read Today's Paper Indian stocks poised to open lower as US midterm vote outcome loomsReutersLast Updated: Nov 04, 2026, 08:27:00 AM ISTSynopsis

As Indian shares experienced four days of upward movement, a decline is now expected as market participants turn their eyes towards the US midterm elections. The results could play a pivotal role in shaping energy prices and foreign investor activity. Recently, foreign investors have shown confidence in Indian shares, enhancing market performance. Meanwhile, geopolitical tensions over Brent crude oil continue to loom, making post-election stock movements critical for investors.

Indian shares are expected to open lower on Wednesday, pulling back from four consecutive sessions of gains, as investors awaited the outcome of the US midterm election.

The outcome of the US midterm elections could have broad implications for the Middle East conflict and energy prices, the buildout of AI data centres, and the US fiscal outlook.

Those issues are closely watched by Indian investors, as higher energy prices and the market's limited exposure to AI-linked stocks have weighed on local equities this year.

GIFT Nifty futures were at 23,711 as of 7:51 a.m. IST, indicating a weaker start for the benchmark Nifty 50, which closed at 23,810.85 on Tuesday.

The Nifty 50 and BSE Sensex have risen about 5% over the past four sessions and closed at two-month highs on Tuesday, buoyed by strong corporate earnings, easing oil prices and early signs of revival in foreign investor inflows.

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Foreign investors net bought Indian shares worth 68.37 billion rupees ($721.66 million) on Tuesday, per provisional data. They have been net buyers in five of the last six trading sessions.

Brent crude futures hovered around $103 per barrel on Wednesday, after hitting a nearly four-week low in the previous session as the market weighed talks to end the wars in Ukraine and Iran. [O/R]

Signs of possible easing in sustained foreign outflows, alongside easing energy prices and optimism surrounding potential tax-policy developments could help underpin domestic sentiment, said Ponmudi R, CEO of wealth tech platform Enrich Money.

Asian markets were down 0.7% and US stock futures dipped as investors focused on whether Democrats can wrest control of Congress from President Donald Trump's Republicans. [MKTS/GLOB]

Stocks To Watch

Stock Exchange of India reports a 23% jump in second-quarter profit, helped by higher cash market trading volumes

Footwear chain Bata India posts a 30.4% rise in second-quarter profit, on strong demand for its premium shoes and sneakers

Equitas Small Finance Bank names Balaji Nuthalapadi as interim chief executive officer, days after long-time CEO P N Vasudevan resigned over conflict-of-interest concerns
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(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 .)

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