The Sensex and Nifty 50 are likely to open higher on Wednesday, supported by positive overnight global cues and optimism surrounding India-US trade deal discussions.

Asian markets advanced, while US stocks ended mixed overnight amid hopes that the prolonged government shutdown may soon end.

However, on Tuesday, Indian equities extended their winning streak for a second straight session, closing with solid gains.

Domestic Market Recap

On Tuesday, Indian indices closed in the green:

• Sensex gained by 335.97 points (0.40%) to close at 83,871.32
• Nifty 50 moved up by 120.60 points (0.47%) to settle at 25,694.95

Gift Nifty

Gift Nifty was trading near 25,955, around 144 points higher than the previous Nifty futures close, hinting at a positive start for Indian markets.

Overnight Wall Street Performance

The US stock market closed mixed on Tuesday, with the Dow Jones Industrial Average hitting a record high as investors cheered progress toward resolving the longest government shutdown in US history.

• The Dow Jones Industrial Average gained by 559.33 points (1.18%) to close at 47,927.96.
• S&P 500 soared by 14.18 points (0.21%), ending at 6,846.61.
• The Nasdaq Composite was lower by 58.87 points (0.25%), finishing at 23,468.30.

Gold Prices 

Gold prices climbed for the fourth consecutive session, supported by a weaker US dollar and optimism over the potential reopening of the US government.

• Spot gold was trading 0.4% higher at $4,142.70 per ounce.
• The US gold futures soared by 0.8% to $4,149.20.

Crude Oil Prices

• Brent crude slumped 0.11% to $65.09/barrel
• US West Texas Intermediate (WTI) crude was trading 0.10% lower at $60.97/barrel

Overnight Major Global Events Driving Sentiment

1. India-US Trade Talks: US President Donald Trump announced that his administration will reduce the high tariffs imposed on Indian goods, citing India’s decision to halt Russian oil imports. He also mentioned that Washington and New Delhi are close to finalising a “fair trade deal,” according to media reports.
2. Bihar Exit Poll Results: Exit polls in Bihar predicted a strong comeback for the NDA, projecting it to win between 130 and 160 seats, while the Mahagathbandhan is expected to secure only 70 to 100 seats. With 243 seats in the Bihar legislative assembly and 122 required for a majority, the NDA appears set to form the next government. The final election results will be declared on November 14.
3. US Employment Data: ADP Research reported that US companies cut an average of 11,250 jobs per week during the four weeks ending October 25, signalling a slowdown in the labour market in the latter half of October compared to earlier in the month.
4. Direct Tax Collection: India’s net direct tax collection grew 7% year-on-year to over Rs 12.92 lakh crore as of November 10 in the current fiscal year, up from Rs 12.08 lakh crore in the same period last year. The government has set a target of Rs 25.20 lakh crore in direct tax collections for FY26, reflecting a 12.7% annual growth projection.

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