Stock market outlook today, 4 Nov: Sensex, Nifty prediction - DJIA, S&P, NASDAQ, GIFT Nifty, Kospi, Nikkei, Taiwan cues

Stock market prediction for Wednesday, 4 November, 2026: The Indian stock market is likely to open on a negative note, snapping four days winning streak, as GIFT Nifty signalled a weak opening on Wednesday, 4 November.

Meanwhile, Asian markets traded mixed on Wednesday, while US stock futures also closed on a mixed note amid midterm elections 2026.

“Indian equities may see some consolidation after a sharp four-session rally, with investors likely to lock in profits as the market assesses the sustainability of the recent rebound. However, softer crude oil prices and signs of improving foreign investor participation are providing a more supportive backdrop. WTI crude has stabilised around $96–$97 a barrel, offering some relief from energy-cost pressures and partly easing concerns over imported inflation and India’s external balances,” said Ponmudi R, CEO of Enrich Money.

Benchmark indices Sensex and Nifty extended their winning run for the fourth consecutive session on Tuesday, closing nearly 2% higher. The rally was supported by a decline in crude oil prices from their recent peaks and a fresh wave of foreign fund inflows.

The 30-share BSE Sensex surged 1,225.07 points, or 1.62%, to settle at 76,917.85, its highest level of the day. Similarly, the 50-share NSE Nifty advanced 370.05 points, or 1.58%, to close at 23,810.85, also marking its intraday high.

“Indian equities extended their winning streak to a fourth consecutive session, with broad-based buying lifting the benchmark indices and sustaining the market’s recovery. FMCG stocks led the advance, climbing more than 3%, while PSU banking stocks came under pressure from profit-booking, with the sector declining by over 1%. Domestic equities remained resilient despite weakness across global and Asian markets, pointing to an improvement in near-term sentiment as external cues turned more supportive. Going forward, developments in diplomatic negotiations, movements in crude oil prices, corporate earnings and foreign investor flows are likely to remain key drivers of market direction,” said Ponmudi.

Gift Nifty was trading around the 23,718 level, down nearly 40 points or 0.17% from the Nifty futures’ previous close, indicating a negative opening for the Indian stock market indices.

The benchmark index maintained its upward trajectory, with the BSE SENSEX settling at 76,917.85, up 1,225.07 points (+1.62%). The index opened at 76,288.65 with a significant gap-up, touched an intraday low of 76,033.74, and advanced to a high of 76,917.85, eventually closing at the day's high. The sustained buying interest reflects strong bullish sentiment and continued participation from market participants.

On the Sensex outlook, Sachin Gupta, VP – Technical Research at Choice Equity Broking Private Limited, said that on the key technical levels, the 76,000–76,300 zone remains the immediate support area, while resistance is placed around 77,000–77,200. The broader trading range stands at 76,000–77,200, indicating a sideways to bullish bias. Sustaining above the immediate support zone will be crucial to maintain the ongoing momentum, while a decisive breakout above 77,200 could open the door for further upside.

“Looking ahead, the SENSEX is likely to maintain a sideways to bullish bias, backed by four consecutive sessions of gains, a strong daily close above the 200 EMA and improving momentum indicators. Holding above 76,000–76,300 will be crucial to sustain the ongoing rally, while a decisive breakout above 77,000–77,200 could pave the way for further upside. However, with the RSI approaching overbought territory and the index trading above the upper Bollinger Band, some intermittent profit booking cannot be ruled out. Overall, the broader technical structure remains positive, with traders advised to monitor the 77,000 resistance zone for the next directional move,” Gupta said.

On the Nifty outlook, Osho Krishan, Chief Manager - Technical & Derivative Research, Angel One, said that the Nifty surged over 750 points during the week, reclaiming the crucial 23800 zone and extending its winning streak with another impressive gain of 1.58% in the session. The sustained buying momentum reflects renewed investor confidence and improving market breadth.

“The series of consecutive runaway gap-ups highlights the intensity of the recent buying momentum, reflecting the bulls’ eagerness to capitalize on improving market sentiment. From a technical perspective, the Nifty50 index has retraced nearly 61.80% of its recent decline and has successively reclaimed its key 20, 50 and 100 EMAs one after another, with the 200-day SMA now emerging as the next significant hurdle,” said Krishan.

Wall Street's benchmark indices closed on a mixed note on Tuesday, November 3, while Nasdaq futures edged higher in after-hours trading as investors awaited the outcome of the US midterm elections, with results expected to be announced in the coming hours.

The Dow Jones Industrial Average ended the session nearly 200 points lower, giving up most of the gains recorded on Monday.

The Nasdaq 100 also finished 0.7% higher, although it remained in correction territory.

S&P 500

In contrast, the S&P 500 advanced 0.4% on Tuesday.

South Korea’s Kospi climbed above the 5,800 mark in early trade on November 4, supported by a recovery in US technology stocks.

The benchmark index had advanced 159.46 points, or 2.82%, to 5,808.25 from its previous close. While investors remained cautious ahead of the US midterm election results, gains in semiconductor stocks on Wall Street appeared to lift market sentiment in Seoul.

Japanese stocks opened lower on Wednesday, with the Nikkei 225 declining 1.1% to 62,386.83 amid a catch-up effect following the holiday break and volatility in global markets. However, buying at lower levels and institutional support helped limit losses, highlighting the resilience of market fundamentals and stable exchange rates in Tokyo despite mixed trends across regional markets.

Also Read | Dividend investing in 2026: 5 stocks to know

Meanwhile, Taiwan stock market opened in green, with Taiex index gaining as much as 0.38% to 43,473.97 on Wednesday.

Vaamanaa covers business and stock market news. Started in 2020, she has been producing news on digital platforms for over 4.5 years now. She writes on markets, commodities, IPOs, and industry. She has worked for news channels like Jagran New Media and Business Insider India. You can reach out to her at vaamanaa.sethi@htdigital.in.

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