Sensex Rises 384 Points as Indian Markets Digest US Midterm Results

Indian equity indices closed higher on November 4, 2026, with the Sensex up 383.55 points, or 0.50 percent, at 77,301.40 and the Nifty up 149.75 points, or 0.63 percent, at 23,960.60. The advance followed four sessions of gains and came as investors assessed the implications of Democratic victories in the US midterm elections.

Media stocks rose sharply, with the sector index up about 5 percent. Mid-cap and small-cap indices outperformed, adding 1.3 percent and 2 percent respectively. About 2,948 shares advanced while 1,260 declined. Top Nifty gainers included Bharat Electronics, Titan Company, Adani Enterprises, Jio Financial, and Max Healthcare. Laggards included TCS, Infosys, HCL Technologies, Coal India, and BSE Limited.

Foreign institutional investors bought shares worth Rs 6,836 crore on November 3, their third consecutive session of net purchases. Domestic institutional investors sold Rs 3,678 crore the same day. The buying came amid global moves in which Dow futures rallied 700 to 800 points after the US results.

Analysts linked the domestic tone to expectations that a divided US government could moderate some policy risks. Higher energy prices tied to the Iran conflict have weighed on Indian equities this year because of the country's import dependence. The midterm outcome raised the possibility of greater congressional oversight on spending and foreign assistance.

Vinod Nair of Geojit Investments noted that risk appetite had strengthened, with mid- and small-caps continuing to outperform. Markets had traded largely flat in early hours before the clearer picture from the United States supported the afternoon advance. Fourteen of 16 major sectoral indices had opened lower, but the session reversed.

Several companies reported results. Lenskart posted a doubling of net profit to Rs 232.5 crore with revenue up 36 percent. NSE reported a 22.8 percent rise in net profit to Rs 2,577.6 crore. Lupin's profit declined 22.2 percent to Rs 1,155.3 crore. IPO allotments for HGS (India), Johnsoncab Electricals, Vectras Enprocon, and Maxwell Engineering Solutions were scheduled for the day, while Carver Roboweld, Ajwa Projects, and M.K. Sons Fine Jewels were set to list.

The rupee and crude prices remained secondary factors. Investors continued to track developments in the Middle East and any signals on US trade or technology policy under the new congressional majorities. India's limited exposure to pure AI-linked stocks has been cited as one reason domestic markets have lagged some global peers this year.

The close above 23,950 on the Nifty marked the strongest level in the recent rebound. Whether the gains hold will depend on the final US seat counts, any immediate policy statements from Washington, and the trajectory of energy prices. For now, the session showed domestic investors treating the Democratic sweep as a net positive for risk assets.