Stock market prediction for Thursday, 5 November, 2026: The Indian stock market is likely to witness a strong start today as GIFT Nifty signalled a positive opening on Thursday, 5 November.
Meanwhile, Asian markets opened on a mixed note on Thursday, tracking a sharp rally on Wall Street after Democrats secured a sweeping victory in the US midterm elections.
“Indian equity markets are poised for a strong opening on Thursday, with sentiment receiving a boost from a sharp retreat in international crude oil prices. GIFT Nifty is trading around 24,305, up 355 points, or 1.48%, signalling the possibility of a substantial gap-up opening for the domestic benchmarks. The sharp advance reflects improving global risk sentiment, supported by lower crude prices and renewed institutional buying. However, the ability of the benchmarks to sustain these gains beyond the opening trades will be crucial in determining whether the positive momentum can translate into a broader upward move,” said Ponmudi R, CEO of Enrich Money.
Sensex, Nifty: What happened on Friday?
Indian equity benchmarks extended their winning streak to a fifth consecutive session on Wednesday, supported by buying in heavyweight financial, FMCG and automobile stocks. Positive sentiment was further bolstered by foreign fund inflows and a decline in crude oil prices. The Sensex advanced nearly 384 points to close above the 77,000 mark.
The 30-share BSE Sensex gained 383.55 points, or 0.50%, to settle at 77,301.40, marking its highest closing level in more than two months. During the session, the index climbed as much as 478.19 points, or 0.62%, to touch an intraday high of 77,396.04. The NSE Nifty 50 also maintained its upward momentum, rising 149.75 points, or 0.63%, to close at 23,960.60.
“Indian equities extended their winning streak to a fifth consecutive session on Wednesday, as easing crude oil prices and prospects of further progress in U.S.–Iran diplomatic negotiations encouraged broad-based domestic buying. Capital goods, metals, FMCG, automobiles and financial services led the advance, reflecting firmer domestic risk appetite and support from lower crude oil prices. IT stocks were the main laggards, as concerns over global technology spending and earnings visibility weighed on sentiment,” said Hariselvan Radhakrishnan, Founder & CEO of HST Wealth.
Sensex, Nifty prediction for today: Sensex, Nifty outlook
GIFT Nifty today
Gift Nifty was trading around the 24,300 level, up nearly 350 points or 1.50% from the Nifty futures’ previous close, indicating a bumper start for the Indian stock market indices.
Sensex
On the Sensex outlook, Sachin Gupta, VP – Technical Research at Choice Equity Broking Private Limited, said that SENSEX closed at 77,301.40, gaining 383.55 points (+0.50%). The index opened at 76,853.11, touched a low of 76,604.85 and registered an intraday high of 77,396.04, eventually closing near the day’s high amid sustained buying interest. On the key levels, immediate support is placed at 76,500–76,900, while resistance is seen at 77,700–78,000. The broader trading range stands at 76,500–78,000, with the overall bias remaining sideways to bullish.
“Overall, the SENSEX 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,” Gupta said.
Nifty 50
Meanwhile, on the Nifty 50 outlook, Vatsal Bhuva, Technical Analyst at LKP Securities, said that during Wednesday’s session, minor intraday profit booking in the Nifty was absorbed near its 100-day moving average, indicating strong buying interest and continued bullish control.
“The 100-DMA, placed around 23,700, is expected to act as an immediate support for the index. On the upside, the 24,000 zone remains a crucial resistance, coinciding with the psychological hurdle and the 200-DMA. Hence, a Buy on Dips strategy remains preferable, with support at 23,700 and resistance at 24,000 and 24,200 levels,” Bhuva said.
US markets performance
Wall Street’s benchmark indices rallied sharply after Democrats secured victories in both the House of Representatives and the Senate in the US midterm elections. The gains were further supported by a steep decline in oil prices, as several prominent leaders attributed the Republican Party’s defeat to the Iran war.
Dow Jones Industrial Average
The Dow Jones Industrial Average surged 3%, gaining more than 1,500 points to close above the 53,000 mark for the first time since September 8. The index also recorded its biggest single-day gain since April 9 last year, when US President Donald Trump announced his first pause on reciprocal tariffs.
Nasdaq
Nasdaq futures jumped 1.6% on Wednesday. The index had plunged more than 650 points after the election outcome became clear but subsequently recovered all their losses, with the index ending the session firmly in positive territory.
Meanwhile, S&P index advanced over 1.5% on Wednesday.
South Korea’s Kospi performance
Concerns surrounding potential regulations on AI data centre construction following the US midterm elections triggered a sell-side circuit breaker in South Korea’s KOSPI during early trading. The benchmark index briefly plunged more than 4% during the session, slipping below the 5,400 mark.
According to the Korea Exchange, the sell-side circuit breaker, which temporarily suspends program-driven selling in the KOSPI market, was triggered at 10:16 am on November 5. The mechanism is activated when the KOSPI 200 futures price declines more than 5% from the previous day’s closing level and sustains that fall for over one minute.
Japan’s Nikkei 225 performance
Japan’s Nikkei 225 rose over 0.50% in the early trade, however, soon pared gains to turn red. The index fell over 1.24% to 61,417.15 on Thursday, following the clearance of post-election political uncertainty.
Taiwan stock market
Meanwhile, Taiwan stock market also traded in red with Taiex index falling up to 1.81% to 42,171.78.
Disclaimer: This story is for educational purposes only. Please consult with an investment advisor before making any investment decisions.
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