Stock Market Live Updates: Sensex gains over 450 points, Nifty above 23,900 as US midterm results point to blue sweep

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Sensex Today | Nifty 50 Live Updates: Sensex and Nifty erase early losses, and continue to trade higher as the upcoming results of the US midterm elections indicate a blue sweep.

Nearly all broader market indices trade in the green. Among sectoral indices, Nifty FMCG leads the gains, with the index rising 1.5%, followed by Nifty Realty. Bucking the overall market trend, Nifty IT remains the only index among the sectoral indices to trade in red.

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

Global Markets Updates

Global Markets Updates

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The shares of Multi Commodity Exchange of India (MCX) dropped around 7% even after the company reported triple-digit topline and bottomline growth in Q2FY27. MCX reported a 130% YoY surge in consolidated net profit to Rs 454.57 crore in Q2FY27, compared with Rs 197.47 crore in the corresponding quarter of the previous fiscal year.

Price as on 09.48.21 AM, Click on company names for their live prices.

Shares of National Stock Exchange (NSE) inched higher after the company reported a consolidated net profit of Rs 2,578 crore for the second quarter of the ongoing FY27, marking a 23% year-on-year rise from Rs 2,098 crore reported in the corresponding quarter of the previous financial year.

MK Jewels settles at Rs 171.6/share on the BSE vs its issue price of Rs 162/share.

HEG Advanced Materials, Amara Raja Energy & Mobility, BHEL, Uno Minda and IIFL Finance are among the top gainers at this hour.

Price as on 09.34.34 AM, Click on company names for their live prices.

Marico reported robust double-digit growth in revenue and profit in the September quarter, supported by healthy demand across its coconut oil, foods and premium personal care businesses. Lower copra prices also helped improve margins. The company expects growth momentum to sustain, driven by expansion in its foods and premium portfolios, an improving international business and benign input costs. Reflecting this optimism, Marico raised its Ebitda margin outlook to the mid-20% range from around 20% earlier.

Marico shares surged 9.4% on Tuesday to ₹873.2, closing at the day's high. Analysts have maintained their 'Buy' ratings on the stock, citing a potential upside of 12-15% from Tuesday's closing price.

US Stock futures declined as traders weighed the possibility of Democrats gaining majority control of Congress and securing key gubernatorial victories in the 2026 US midterm elections.
S&P 500 futures fell 1.25%, while Nasdaq-100 futures dropped 2%. Dow Jones Industrial Average futures were down 367 points, or 0.7%.

Indian benchmark indices Sensex and Nifty extended their gains for a fourth straight session on Tuesday, ending at their highest levels in nearly two months. Improved foreign investor buying, stronger corporate earnings and attractive valuations boosted market sentiment.

The Sensex rose 1.6%, or 1,226 points, to close at 76,917.85, its highest level since September 1. The Nifty 50 also advanced 1.6%, gaining 371 points to settle at 23,811, its highest close since September 4. Both indices have risen about 5% over the past four sessions.

Sebi on Tuesday levied a total penalty of ₹40 lakh on two stockbroking firms, Woodstock Broking and Marfatia Stock Broking, along with their directors, for facilitating front-running trades involving Axis Mutual Fund. The firms were found to have provided access to their trading terminals to an unauthorised person based in Dubai.

Effective November 1, Sebi has directed mutual fund houses to make direct plans the default investment option on their websites and mobile apps. Accordingly, investors visiting a fund house's digital platform to invest in an equity scheme will see the direct plan pre-selected or displayed as the primary choice. However, they can still opt for regular plans if they prefer assistance from distributors.

"The midterm election outcome could affect Indian markets through its impact on trade policy, global investor sentiment and currency movements," said Ravi Singh, chief research officer at Master Capital Services. "A loss of congressional control by Trump could lead to greater scrutiny of his tariff policies, potentially easing trade-related concerns. If Republicans retain control, current trade and immigration policies are likely to continue, keeping uncertainty elevated."

Initial results are expected in India early Wednesday morning as polling stations close across different US time zones.

The dollar weakened against most major currencies on Wednesday as investors awaited the US midterm election results, with markets anticipating a potentially strong performance by the Democrats.

Oil prices edged lower in early trading on Wednesday as investors awaited the outcome of the US midterm elections and assessed their potential implications for Middle East peace talks. The decline came despite industry data showing an unexpected drop in US crude inventories last week.

Gold prices edged higher in early Asian trading on Wednesday as a decline in oil prices eased inflationary concerns. Investors also awaited the US midterm election results and key labour market data for clues on the outlook for monetary policy.

The Nasdaq ended higher on Tuesday as investors returned to chipmakers and other AI-linked stocks, helping the tech-heavy index recoup some losses ahead of the US midterm election results. However, declines in Apple weighed on sentiment after the iPhone maker warned that rising memory chip costs would put further pressure on margins.

US equity-index futures declined and the dollar weakened as early midterm election results and prediction markets pointed to a growing likelihood of a Democratic victory, raising expectations of political gridlock in Washington. US Treasuries advanced as investors assessed the potential implications for policy and markets.

Several stocks, including NSE, BSE, SBI, Happiest Minds Technologies, MCX, IEX and Minda Corporation, are likely to remain in focus on Wednesday, November 4. Investors will track Q2 earnings, monthly sales figures, acquisition announcements, fundraising plans, operational updates and other corporate developments.

GIFT Nifty on NSE IX fell 50 points, or 0.21%, to 23,710, signalling a negative start for Dalal Street on Wednesday.

Indian stock markets extended their rally on Tuesday, with the Sensex and Nifty gaining nearly 2% each, as easing crude oil prices, expectations of a possible long-term capital gains (LTCG) tax rejig and improving investor sentiment lifted equities.

The Sensex surged 1,225 points to close at 76,918, while the Nifty 50 advanced 370 points to settle at 23,811. The rally added nearly Rs 4 lakh crore to the combined market capitalisation of BSE-listed companies, taking it to around Rs 487 lakh crore.

Indian equities extended their gains on Tuesday, supported by softer crude oil prices, declining US Treasury yields and renewed buying by foreign institutional investors (FIIs), while improving global market sentiment eased concerns over macroeconomic headwinds.