Pre-Market 6 November 2026: GIFT Nifty Hints At A Cautious Opening After Sensex And Nifty Rally Over 2%; US Tech Selloff And Oil In Focus

Indian equities head into Friday after their biggest single-session rise in seven months, while US stocks fell and crude oil recovered part of its recent decline as uncertainty over the conflict involving Iran persisted.

How Did Indian Markets Perform On Thursday?

The Sensex rose 2,008.61 points, or 2.6%, to close at 79,310.01. The Nifty 50 added 576 points, or 2.4%, to settle at 24,536.60. Both benchmarks have advanced more than 8% over six sessions, marking their longest winning streak in a year.

The rally followed a sharp fall in crude oil prices and a rise in foreign investor buying. Foreign portfolio investors bought Indian equities worth nearly ₹15,000 crore on Thursday. This was their largest single-day net purchase since 20 September 2024.

Buying was spread across the market. The Nifty 100 advanced 2.22%, while the Nifty Midcap 100 climbed 1.87%. Among sectoral indices, financial services and banking shares led the gains. Nifty Chemicals and Nifty Media were among the few indices to end lower.

The rupee, however, did not benefit much from the fall in crude prices. It settled almost unchanged at 94.46 (provisional) against the US dollar, as support from lower oil prices was offset by a firm dollar overseas.

Global Markets

In the US, the Dow Jones Industrial Average was down 3.44% at 51,523.06. The S&P 500 had fallen 4.36% to 7,353.73, while the Nasdaq Composite was down 5.52% at 24,315.00.

European markets were mixed at the close. The FTSE 100 fell 0.43% to 10,782.66, while France’s CAC 40 edged up 0.34% to 8,205.37.

Asian markets also ended on a mixed note, with technology shares under pressure. Japan’s Nikkei 225 declined 1.79% to 61,077.90. South Korea’s KOSPI fell 5.28% to 5,383.80.

GIFT Nifty Today

At 7:47 am on 6 November, GIFT Nifty was trading at 24,473.50, down 126 points, or 0.51%, hinting at a cautious start for Indian markets on Friday.

Nifty 50 Technical View: 24,800 Is The Next Major Hurdle

After the sharp rise over the past six sessions, market participants expect the Nifty 50 to move towards 24,800, which is near its August high. This level is seen as the next major resistance.

A sustained move above 24,800 could bring 25,000 and then 25,500 into view. However, the recent pace of the rally also leaves room for a period of consolidation.

On the downside, 24,300, which was Thursday’s low, is the immediate support level. The 24,000 mark is the next important zone to track.

What Could Shape Friday’s Trade?

For investors, crude oil prices, the rupee, and FII activity will be important to track after the market rally. Brent crude recovered 3.88% to around $98.29 a barrel on Thursday as investors weighed the prospects of a settlement with Iran against the risk of further escalation. Any fresh developments around the Strait of Hormuz could add to oil price volatility and affect India’s import bill.

The US jobs report due on Friday may influence expectations around the Federal Reserve’s interest-rate path. Any shift in rate expectations could affect global fund flows, including investments in emerging markets such as India.

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