Indian markets likely to open higher; Gift Nifty signals 150-point gap-up

SENSEX 76,384.07

+ 691.29

NIFTY 23,592.65

+ 151.85

CRUDEOIL 9,165.00

+ 93.00

GOLD 139,080.00

 -1,106.00

SILVER 179,917.00

 -3,862.00

SENSEX 76,384.07

+ 691.29

NIFTY 23,592.65

+ 151.85

NIFTY 23,592.65

+ 151.85

CRUDEOIL 9,165.00

+ 93.00

CRUDEOIL 9,165.00

+ 93.00

GOLD 139,080.00

 -1,106.00

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Easing crude oil prices and hopes of Middle East de-escalation support sentiment, even as global markets remain under pressure

By KS Badri Narayanan

Updated - November 03, 2026 at 09:48 AM.

Stock market investors will track global cues, crude oil prices, the US midterm election and corporate earnings on Tuesday.

Indian stock markets are likely to open on a positive note on Tuesday, amid mixed global cues. With the results season peaking, analysts expect activity to centre on selective stocks. The crucial midterm US election will also be in focus.

Gift Nifty at 23,560 signals a gap-up opening of about 150 points.

• Track here: Today’s live stock market updates and trends

Crude oil prices, Middle East developments to influence sentiment

Ponmudi R, CEO of Enrich Money, a SEBI-registered online trading and wealth-tech firm, said Indian equity markets are likely to extend their recovery after the strong rebound in the previous session, with easing crude oil prices and hopes of de-escalation in the Middle East conflict providing additional support to investor sentiment. “However, the sustainability of the recovery will depend on global market cues, further progress in U.S.–Iran negotiations and the broader direction of investor sentiment,” he cautioned.

• Read also: Buzzing stocks: GRSE, Dr Reddy’s, Lupin, NBCC, HPCL, Belrise and Datakosa in focus

Asian stocks decline; US markets retreat ahead of election outcome

Meanwhile, Asian stocks are down in early trade on Tuesday. US stocks fell sharply overnight from the day’s high amid nervousness ahead of the election outcome.

A sustained de-escalation in geopolitical tensions and further moderation in energy prices could support the ongoing recovery. However, a breakdown in negotiations or continued weakness in global technology stocks could revive volatility, weigh on broader risk appetite and influence global capital flows.

Nifty derivatives indicate supportive positioning; 23,500 Call OI in focus

On the Derivatives front, Call OI is concentrated at 23,500, followed by 23,600, while maximum Put OI is at 23,000, followed by 23,200. “Put OI stands well above Call OI, with the weekly PCR at 1.66 and the monthly PCR at 1.27, indicating a supportive setup,” said Om Mehra, Technical Research Analyst, SAMCO Securities.

Published on November 3, 2026

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