Pic Credit: Pexel
Indian stock market today: Indian benchmark indices Sensex and Nifty opened higher on Wednesday, November 4, extending their gains for the fifth consecutive trading session. Foreign investor buying, easing crude oil prices and gains in heavyweight stocks supported market sentiment, while weakness in IT shares limited the overall momentum.
The BSE Sensex climbed around 288 points to 77,185.35 in early trade, while the NSE Nifty gained 77.25 points to reach 23,890.85. The positive opening reflected continued buying interest in select sectors despite mixed global market cues.
Banking and heavyweight stocks lead gains
Among the major Sensex gainers, Bharat Electronics, ITC, Adani Ports, HDFC Bank, Bajaj Finserv and State Bank of India recorded notable advances. Gains in banking and other heavyweight stocks helped support the benchmark indices, partly offsetting pressure from IT shares.
Foreign institutional investors (FIIs) also provided support to domestic equities through renewed buying activity. On Tuesday, foreign portfolio investors recorded net purchases of approximately ₹6,837 crore, while domestic institutional investors (DIIs) were net sellers of around ₹3,679 crore.
Lower crude oil prices improve sentiment
Easing crude oil prices remained another positive factor for the Indian market. As India depends heavily on imported crude oil, lower prices can help reduce import expenses, ease inflationary pressures and support the country’s economic outlook.
However, investors continued to monitor global developments, including technology stock movements, US Treasury yields and international market trends. These factors could influence foreign investment flows and domestic market performance.
Market outlook
The fifth consecutive session of gains reflects improving investor confidence, supported by foreign fund inflows and softer crude oil prices. However, continued buying across sectors will be important to sustain the upward trend.
Investors will closely track foreign institutional activity, crude oil prices, IT sector performance and global market cues for further direction.
