SGX Nifty November 2026 futures surged 284 points, indicating a robust opening for the Nifty 50. Investor sentiment improved following indications from the US and Iran of a readiness to re-engage in peace negotiations, alleviating worries regarding possible interruptions to oil supplies. Brent crude futures experienced a decline of 7.6%, concluding at $104.77 per barrel on Monday, amid increasing optimism regarding a potential diplomatic resolution. Reports indicated that Washington and Tehran were engaged in communications aimed at resolving the eight-month conflict. However, uncertainty surrounding the negotiations and the potential for additional military action persist as risks to energy markets.
Institutional Flows:
On 2 November 2026, foreign portfolio investors acquired shares valued at Rs 3,114.68 crore, whereas domestic institutional investors recorded net sales amounting to Rs 392.20 crore in the Indian equity market, as per provisional data. Foreign Portfolio Investors acquired shares valued at Rs 4318.90 crore in November up to 2 November 2026. This follows net selling of Rs 48,082.27 crore in October 2026, while FPIs were net sellers of Rs 45,536.89 crore in September 2026.
Global Markets:
Dow futures declined by 106 points, indicating a bearish start for US equities. Asian equities experienced a decline on Tuesday, with technology shares facing continued pressure due to apprehensions regarding the returns on substantial investments in artificial intelligence. Japan’s cash market was closed in observance of Culture Day. Wall Street concluded the trading session on Monday, 2 November 2026, with a mixed performance, as declines in technology shares counterbalanced advancements in other sectors. The Dow Jones Industrial Average increased by 213.67 points, representing a 0.41% rise, reaching a level of 51,983.98. The S&P 500 experienced a decrease of 38.67 points, reflecting a decline of 0.51%, settling at 7,541.40. Meanwhile, the Nasdaq Composite saw a drop of 272.68 points, equivalent to a 1.07% reduction, closing at 25,164.32. Technology and semiconductor stocks continued to face challenges as investors reevaluated the magnitude and prospective returns of AI-related investments.
Nvidia experienced a decline of 1.26%, Microsoft saw a decrease of 2.83%, and Apple recorded a loss of 1.83%. Oracle experienced a decline of over 8% as it announced intentions to raise $20 billion through a combination of share and debt offerings. Marvell Technology experienced a decline of 12.72%, whereas optical-components manufacturer Lumentum faced a significant drop of 18.59%. Marvell and Lumentum have disclosed an all-stock agreement whereby Marvell will acquire Lumentum, with the transaction reflecting an implied enterprise value of $115 billion. Apple reported fiscal fourth-quarter revenue of $114.5 billion, reflecting a 12% increase year on year and surpassing the analyst estimate of $113.4 billion. Net income increased by 12% to $30.71 billion, with earnings per share reported at $2.10, surpassing expectations of $1.99. However, the company projected a gross margin of 45% to 46% for the December quarter, which is a decline from the 47.9% reported in the September quarter.
Apple shares experienced a decline of 1.83% in regular trading and continued to decrease during the earnings call. US manufacturing activity experienced an acceleration in growth during October. The Institute for Supply Management’s manufacturing PMI increased to 55.5 from 54.5 in September, surpassing the market forecast of 54.5. The reading indicated the 10th consecutive month of expansion in the manufacturing sector. The US midterm elections on Tuesday represent an additional focal point for investors. The outcome may shape anticipations regarding fiscal policy, government expenditure, and the regulation of the technology sector. Markets are closely monitoring the decisions made by central banks this week. The Reserve Bank of Australia is anticipated to elevate its cash rate by 25 basis points to 4.85%, whereas the Bank of England is projected to raise its policy rate from 3.75% to 4.0%.
Domestic Market:
The key equity benchmarks experienced a notable increase on Monday, marking the continuation of their winning streak for a third consecutive session. Declining crude oil prices, robust Q2 earnings from Reliance Industries and Jio Platforms, along with a resurgence in foreign investor purchasing, bolstered the rally. Anticipations surrounding long-term capital gains tax relief, alongside a robust rupee and declining bond yields, have contributed to an uplift in market sentiment. Weakness in global AI-linked stocks also bolstered Indian equities.
The Nifty concluded the trading session above 23,400. Stocks in the oil and gas, metal, and consumer durables sectors spearheaded the upward movement. Conversely, shares in the media and IT sectors experienced a downturn. The S&P BSE Sensex experienced an increase of 1,233.25 points, reflecting a rise of 1.66%, reaching a level of 75,692.78. The Nifty 50 index experienced an increase of 387.70 points, reflecting a rise of 1.68%, reaching a level of 23,440.80. In the three consecutive trading sessions, the Sensex and the Nifty experienced increases of 3.09% and 3.27%, respectively.
