Stock market rises despite mixed global cues, Sensex up 400 points in early trade, Nifty also strong

November 4, 2026

Mumbai: The Indian stock market witnessed a rise in early trading on Wednesday. Despite mixed signals from global markets, the major domestic indices, Sensex and Nifty, traded with gains. However, technology stocks remained under pressure in Asian markets. Investors remained cautious due to concerns about rising spending on artificial intelligence (AI).

The Sensex rose nearly 400 points, or 0.5 percent, to 77,251 in morning trade. Meanwhile, the Nifty rose 101.65 points, or 0.43 percent, to trade at 23,912.50.

Earlier, the market started with a decline. The Sensex opened at 76,853.11, down 64.74 points or 0.08 percent, while the Nifty opened at 23,742.25, down 68.60 points or 0.29 percent.

IT, Realty, and Consumer Durables Shares Fall

Sectoral indices showed mixed trends in early trade. Nifty Consumer Durables, Nifty Realty, and Nifty IT declined by up to 0.79 percent.

Metal, energy, private bank, and PSU bank indices also traded with losses.

Meanwhile, healthcare and pharmaceutical sector stocks saw strength. Nifty 500 Healthcare, Nifty Healthcare Index, and Nifty Pharma rose by up to 0.23 percent.

FII buying has changed the market trend

According to market experts, the market sentiment has improved due to the shift in the foreign institutional investor (FII) sentiment. FIIs have made purchases in the Indian stock market in five of the last six trading sessions, purchasing shares worth a total of ₹18,661 crore.

Experts say that for the past two years, continuous selling by foreign investors had been putting pressure on the market, but now this trend is changing. Strong quarterly results from large companies and attractive valuations are also strengthening the market.

Furthermore, the waning enthusiasm for AI-related investments has also encouraged the return of foreign investors to the Indian market.

According to experts, the current market rally could be led by shares of large companies, where there is potential for significant investment from foreign institutional investors. Short covering could also support the market. Shares of major financial companies, in particular, are expected to have further room for further gains.

24,000 level crucial for Nifty, support at 23,500

According to technical indicators, Nifty is currently trading above its 50-day exponential moving average (EMA) at 23,196. Its Relative Strength Index (RSI) is at 66.59, indicating a strong bullish trend in the market. However, experts have not ruled out the possibility of profit-booking.

Meanwhile, the put-call ratio (PCR) has improved to 1.30. According to technical analysis, immediate support for Nifty lies between 23,500 and 23,600, while 24,000 and 24,200 levels could act as resistance.

Furthermore, the 200-day EMA around 23,904 is also considered a key barrier for Nifty.

FIIs bought shares worth Rs 6,836 crore on Tuesday

Foreign institutional investors continued their buying spree for the third consecutive trading session on Tuesday. During this period, FIIs purchased shares worth a net Rs 6,836 crore.

On the other hand, domestic institutional investors (DIIs) sold for the third consecutive session, withdrawing a net Rs 3,678 crore from the market.

Meanwhile, the US stock market closed with gains on Tuesday. The Nasdaq rose, and shares of major AI-related companies saw improvements. This rise came ahead of the results of the US midterm elections. However, Apple shares fell after weaker-than-expected earnings.