Pre-Market 5 November 2026: GIFT Nifty Points To Gap-Up Start As Indian Markets Track Global Rally, Oil Prices And Q2 Earnings

Indian equity markets enter Thursday’s session with a positive undertone, supported by favourable global cues and continued buying interest in domestic equities. The outcome of the US midterm elections has added another dimension to the global market outlook.

How Did Indian Benchmarks Perform?

The Sensex gained 383.55 points, or 0.50%, to close at 77,301.40 on Wednesday. The Nifty 50 advanced 149.75 points, or 0.63%, to settle at 23,960.60, extending its winning run to five sessions.

The broader market also participated in the rally. The Nifty Midcap 100 rose 1.55%, while the Nifty Smallcap 100 advanced 2%. Among sectoral indices, metal and realty stocks were among the stronger performers, while IT shares remained under pressure.

The latest gains have come amid hopes of renewed foreign investor interest. Foreign portfolio investors bought Indian shares worth around $821 million in November so far, according to market data.

Global Indices

US stocks advanced on Wednesday after Democrats secured control of both the Senate and the House of Representatives in the midterm elections. The result is expected to create a check on President Donald Trump’s legislative agenda, easing some political uncertainty for investors.

The Dow Jones Industrial Average rose 3.03% to 53,356.12. The S&P 500 gained 1.58% to 7,688.62, while the Nasdaq Composite advanced 1.44% to 25,736.22.

European markets ended higher on Wednesday. The UK’s FTSE 100 rose 1.79% to 10,829.21, while France’s CAC 40 gained 1.96% to close at 8,177.89.

Asian markets were mixed. Japan’s Nikkei index fell 1.42% to 62,188.63, while South Korea’s KOSPI advanced 0.62% to 5,683.80.

GIFT Nifty

At 7:58 am on 5 November, GIFT Nifty futures were trading at 24,270.50, up 320.50 points or 1.34%. The rise points to a higher opening for Indian markets on Thursday.

Nifty 50 Technical View: 24,000 Mark In Focus

The Nifty 50 is approaching the psychologically important 24,000 mark, which also is close to its 200-day simple moving average (SMA). A sustained close above this level could open the way towards the next resistance at 24,200.

On the downside, 23,700 is the immediate support level, corresponding with Wednesday’s low. The next support is placed at 23,500, near the 100-day exponential moving average (EMA).

What To Watch For Today's Session?

Thursday’s domestic earnings calendar is packed, with Bharti Airtel, Titan Company, Life Insurance Corporation of India, Mahindra & Mahindra, ONGC, Britannia Industries and Samvardhana Motherson International scheduled to report results. Their earnings and management commentary may drive stock-specific activity during the session.

Beyond corporate results, investors will assess how the US administration responds to the US midterm election results and whether diplomatic efforts involving Iran make further progress. Both could have a bearing on policy expectations and the outlook for crude oil.

Brent crude for delivery in January dropped below $100 a barrel for the first time since October as markets weighed the possibility of a shift in Washington’s approach to the conflict with Iran. However, the situation remains uncertain. Any fresh developments could trigger further moves in oil prices and influence sentiment in the sessions ahead.

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