US Midterm Election results impact on oil and IT shares: Reliance, Indian Oil, TCS, Infosys - 10 stocks from experts

US Midterm Election Results 2026 | Stocks to buy: Following the sell-off trigger in the US bond market and the US dollar after the humiliating defeat of Donald Trump's Republican Party, global markets, including India's Sensex, Nifty, Bank Nifty and other broad market indices, are skyrocketing. By 10:10 AM on Thursday, the BSE Sensex is up close to 1700 points, or more than 2%; the Nifty 50 index is up over 400 points, or 1.75%; and the Bank Nifty index is up by around 1100 points, or 2%.

According to stock market experts, this rally in the Indian stock market is due to a sharp shift of smart money from the US bond market to other assets such as equities, gold, and silver, following weakness in the US dollar. They said that the fall in the US dollar can be attributed to the humiliating defeat of the US President Donald Trump's Republican Party in the US Midterm Elections. Expecting relief for Indian H-1B Visa applicants in the tech and IT sector, and easing of Middle East tensions and Russian sanctions, they predicted a big jump in IT and oil stocks in the medium- to long-term. They advised investors to consider oil refiners when choosing an oil stock, as oil refiners earn big by exporting diesel, which shot up to $200 per barrel from $108 during the US-Iran war.

Decoding Trump's Republican Party's defeat in the US Midterm Elections, Seema Srivastava, Senior Research Analyst at SMC Global Securities, said that President Donald Trump’s setback in the US midterm elections, which handed control of Congress to the Democrats, introduces a mix of relief and policy friction for the Indian stock market.

Expecting relief for the IT and tech sector after the US Midterm Election Results 2026, Seema Srivastava said, “A Democratic-led Congress is expected to push back against aggressive restrictions on skilled immigration and heavy H-1B visa fees. This provides regulatory relief for Indian IT giants heavily reliant on the US market, boosting tech stocks.”

Pointing towards the impact on oil prices and macro stability after the humiliating outcome for Trump's Republican Party, Srivastava said, “Potential pressure from a newly empowered opposition to navigate away from heavy geopolitical flashpoints could ease strict enforcement on Russian crude imports, offering India some breathing room on energy costs. Lower oil prices generally benefit India's current account deficit and macroeconomic stability.”

Advising investors to look at IT and oil stocks after the US Midterm Election Results 2026, a SEBI-registered market expert, Anuj Gupta, said, “Oil and IT stocks are expected to rise after the setback to President Donald Trump in the US Midterm Elections. However, I would suggest that investors consider large-cap IT stocks such as TCS, Infosys, and Wipro. They can also look at Birlasoft shares, as it draws huge business (around 85% of the company's net business) from the US. In the wake of easing pressure from tariffs and H-1B Visa rules, these companies are expected to reap big benefits in the post-US Midterm Election Results scenario.”

On suggestions to those investors looking for oil stocks after the US Midterm Election Results 2026, Anuj Gupta said, “One should look at the refiner companies first, as they earn better than simple oil market companies during the skyrocketing crude oil prices.”

The SEBI-registered market expert said that diesel prices were at $108 per barrel when the US-Iran war began, and reached $200 per barrel over the last eight months. However, during this period, Brent crude oil prices rose from $72 to $115 per barrel. This means that during the elevated crude oil prices, the gap between crude and diesel prices widened from $36 per barrel to $85 per barrel. In fact, the gap more than doubled.

“Oil refiner companies like Reliance Industries Ltd (RIL) and Oil and Natural Gas Corporation (ONGC) export diesel after refining the light sweet crude oil and earn more than a normal oil marketing company during the rising crude oil prices, as diesel prices also rise with crude oil prices, and it pares the losses incurred due to the rise in the crude oil price. So, I would suggest investors to look at Reliance and ONGC shares,” said Anuj Gupta.

“Oil and gas marketing companies are expected to benefit after a sharp rise in their margins and profitability. So, I would suggest investors to look at HPCL, IOCL, BPCL and GAIL India shares after the US Midterm Election Results 2026,” said Avinash Gorakshkar.

So, after the US Midterm Election Results 2026, oil and IT stocks are expected to benefit and experts have recommended these 10 stocks to buy: Reliance Industries, TCS, Wipro, Infosys, Birlasoft, HPCL, BPCL, IOCL, and Gail India.

Asit Manohar has nearly two decades of experience in the mainstream media. In this period, he has served esteemed media organisations like NDTV Profit, The Economic Times, and Zee Business. He has been working at LiveMint Digital since April 2021. During these two decades of journey in mainstream media, Asit has mainly covered external affairs, markets and personal finance. However, his earliest beats include railways, SME, MSME, and politics (Congress beat). Some of his features on political, economic, and foreign policy are documented in the parliamentary records. <br><br> While pursuing his MA (Mass Communication, Session 2004-06), Asit began his media career as a stringer at All India Radio in Varanasi. At AIR Varanasi, Asit worked with the Gyanvani, Yuvvani and Vividh Bharti teams. After working for nearly one year at AIR Varanasi, he shifted to print journalism and started working as a stringer for the HT Media Ltd, Varanasi. At HT Media Ltd in Varanasi, he covered the BHU beat. <br><br> Asit has also worked with some brokerage houses. He has worked with Religare Broking and India Infoline, where he assisted the research team in developing and executing trade strategies for intraday cash, F&O, and commodities. <br><br> Asit is a Gold Medalist in MA (Mass Communication) from BHU, Varanasi. He did his BSc. (Hons) in Mathematics from Magadh University, Bodh Gaya. Asit was a National Talent Scholarship holder during his senior secondary studies (1988-91).

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