Stock market outlook today, 6 Nov: Sensex, Nifty prediction - DJIA, S&P, NASDAQ, GIFT Nifty, Kospi, Nikkei, Taiwan cues
Stock market prediction for Friday, 6 November, 2026: The Indian stock market is likely to open on a lower note as GIFT Nifty signalled a muted opening on Friday, 6 November.
Meanwhile, Asian markets opened on a weak note on Friday, after a sharp sell-off on Wall Street overnight on Thursday.
Indian benchmark indices, the Sensex and Nifty 50, are now 6,849 points and 1,822 points away, respectively, from their previous record highs. A strong rebound in domestic equities, easing crude oil prices and improving foreign investor sentiment have fuelled optimism that the indices could scale fresh lifetime peaks.
On Thursday, the BSE Sensex rallied 2,008.61 points, or 2.60%, to close at 79,310.01, while the NSE Nifty 50 advanced 576 points, or 2.40%, to settle at 24,536.60.
"Markets extended their winning streak for the sixth consecutive session on Thursday, with benchmark indices witnessing strong buying interest. The Nifty traded around 24,540, up nearly 2.5%, while the Sensex advanced close to 2,000 points to around 79,373, reflecting a sharp improvement in investor sentiment.
The broad-based strength in heavyweight stocks across sectors has helped the Nifty recover its losses over the past three months, putting the index on course to retest its August high of around 24,800. The renewed momentum in banking and financial stocks is an additional positive. We therefore maintain a positive market bias, while emphasising disciplined stock selection and prudent overnight risk management in anticipation of potential volatility ahead," said Ajit Mishra, SVP – research, Religare Broking.
Gift Nifty was trading around the 24,440 level, down nearly 159 points or 0.65% from the Nifty futures’ previous close, indicating a muted start for the Indian stock market indices.
Sensex advanced close to 2,000 points to around 79,373, reflecting a sharp improvement in investor sentiment on Wednesday.
On the Sensex outlook, Sachin Gupta, VP – Technical Research at Choice Equity Broking Private Limited, said, “the index maintains a sideways to bullish bias, supported by consecutive gains, a close above the 200 EMA and favourable derivatives positioning. Holding above 76,500–76,900 will be crucial, while a decisive breakout above 78,000 could trigger further upside. However, some profit booking cannot be ruled out given the elevated RSI levels.”
On the Nifty 50 outlook, Vatsal Bhuva, Technical Analyst at LKP Securities, said, "Nifty has strengthened its technical outlook by reclaiming all key moving averages on the daily chart, indicating a bullish trend reversal. RSI has entered the overbought zone near 75, signalling the possibility of near-term profit booking or consolidation. However, the broader momentum remains positive. Any dip towards 24,200 could act as immediate support, while 24,000 remains crucial positional support. On the upside, resistance is placed at 24,800 and 25,000. A buy-on-dips strategy remains advisable."
Wall Street's benchmark indices extended their sell-off on Thursday, November 5, wiping out all gains made in the post-midterm election rally as investors offloaded shares across sectors. Stocks spanning traditional industries, data centres and artificial intelligence (AI)-linked businesses faced heavy selling pressure, making it the worst trading session for the Dow Jones, S&P 500 and Nasdaq Composite since April 2025.
The Dow Jones Industrial Average plunged more than 1,800 points on Thursday, erasing the entire 1,500-point rally recorded in the previous session following the US midterm election results. All 30 constituents of the index ended in the red, taking it more than 6% below its recent peak.
The Nasdaq Composite tumbled 5.5%, pushing the technology-heavy index into a technical correction, defined as a decline of more than 10% from its recent peak.
S&P 500
Meanwhile, the S&P 500 dropped 4.4% during the session and is now down more than 6% from its peak, mirroring the Dow's decline. All 11 sectoral indices of the S&P 500 closed sharply lower on Thursday.
South Korea's benchmark KOSPI index plunged more than 8% in early trading on Friday, triggering a circuit breaker as heavy selling in semiconductor and technology stocks dragged the index below the 5,000 mark for the first time in nine months.
The Korea Exchange (KRX) activated a 20-minute circuit breaker, temporarily suspending trading in stocks and derivatives. The KOSPI was trading 8.6% lower, down nearly 500 points at 4,923.47.
Japan's benchmark Nikkei 225 plunged more than 6% in early trade on Friday, tracking a broad sell-off in artificial intelligence-related stocks on Wall Street.
Taiwan stock market continued its losing streak on Friday, with Taiex index falling to 37,841.36. The index has plunged over 16% in the past five sessions and 24% in a month.
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.
Get Latest real-time updates
Catch all the Business News , Market News , Breaking News Events, JIO IPO Listing Today LIVE and Latest News Updates on Live Mint. Download The Mint News App to get Daily Market Updates.
HomeMarketsStock MarketsStock market outlook today, 6 Nov: Sensex, Nifty prediction - DJIA, S&P, NASDAQ, GIFT Nifty, Kospi, Nikkei, Taiwan cues
✕
Wait for it…
Oops! Looks like you have exceeded the limit to bookmark the image. Remove some to bookmark this image.