Indian Stock Market Expected to Open Higher Amid Positive Signals

The Indian stock market is anticipated to open higher on November 2, 2026, with GIFT Nifty trading around 23,291, reflecting an increase of nearly 205 points or 0.89% from the previous close. This positive outlook comes as Asian markets show mixed results, while U.S. stock futures recover following a significant sell-off last Friday.

Ponmudi R, CEO of Enrich Money, noted that Indian equity markets may build on their recent recovery, driven by hopes of a breakthrough in U.S.–Iran diplomatic discussions that could alleviate supply concerns and bolster global energy markets. He emphasized that any progress in this area could reduce the geopolitical risk premium in crude oil, providing support for domestic equities.

Last week, the BSE benchmark Sensex rose by 1,335.7 points, or 1.82%, while the NSE Nifty gained 453.1 points, or 2%. On Friday, the Sensex closed at 74,459.53, up 308.49 points, supported by strong buying in IT stocks and positive earnings from Tata Group’s retail arm, Trent. Ajit Mishra, SVP of Research at Religare Broking, remarked that the market's recovery was fueled by encouraging corporate earnings and renewed interest in heavyweight stocks.

Looking ahead, Sachin Gupta, VP of Technical Research at Choice Equity Broking, identified the immediate support zone for the Sensex at 73,800–74,000, with resistance around 74,700–75,000. He indicated that maintaining above this support zone is crucial for sustaining the recovery, while a breakout above 75,000 could signal further gains.

For the Nifty 50, Hitesh Tailor, Research Analyst at Choice Broking, highlighted that the index closed at 23,053.10, up 453.10 points, reflecting improved market sentiment. He pointed out that immediate resistance is at 23,200, and a decisive breakout above this level could lead to further upward movement towards 23,700–24,000.

In the U.S., Wall Street futures opened positively, with the Dow Jones Industrial Average gaining over 165 points. The Nasdaq and S&P 500 also saw increases, although they ended the previous month with losses. Meanwhile, South Korea's Kospi rebounded after early losses, and Japan's Nikkei 225 opened lower amid cautious investor sentiment ahead of the U.S. midterm elections.