Sensex Rises 0.50% on Nov 4, 2026 as FMCG and Metal Stocks Gain

Key takeaways

• The BSE Sensex rose 0.50%, or 383.55 points, to 77,301.40 at the close (10:00 UTC) on Wednesday, Nov 4, 2026, its fifth straight gain, according to Yahoo Finance data.
• The Nifty 50 gained 0.63%, or 149.75 points, to 23,960.60 at the 10:00 UTC close, after dipping to 23,696.15 during the session.
• Consumer and metal shares led: the Nifty FMCG index rose 1.50% and the Nifty Metal index 2.80%, while the Nifty IT index fell 1.50% and Infosys lost 1.73%.
• Bharat Electronics jumped 4.71% to ₹398.00, one of the strongest Nifty 50 stocks on the day.
• Foreign institutional investors bought a net ₹6,837 crore of Indian shares on Nov 3, provisional exchange data cited by HDFC Sky and Trade Brains showed. That was the day before this session.
• Democrats won majorities in both the US House and Senate, the Associated Press reported. The result hit AI-linked shares in Tokyo, but Indian benchmarks recovered from an early dip.

Session recap

Indian shares rose for a fifth session on Wednesday, Nov 4, 2026. The Sensex closed at 77,301.40 at 10:00 UTC (15:30 IST), up 0.50%, as gains in consumer, metal and defence stocks outweighed a sell-off in IT. For the regional picture, see Asian and global market closes. Over five sessions the Sensex has gained 5.54% from its Oct 28 close of 73,246.03. That run started before the moves covered in our Nov 2 India market brief.

The session started weak. The Sensex opened at 76,853.11, below Tuesday's close of 76,917.85, and fell as low as 76,604.85 before reaching a high of 77,396.04, according to Yahoo Finance data. Kotak Neo reported that the indices opened lower and turned positive by about 04:35 UTC (10:05 IST). At that point the Sensex was up 0.51% and Nifty IT was the only sector in the red. In its live coverage, last updated at 09:53 UTC (15:23 IST), Trade Brains said the benchmarks had recovered from earlier losses. It listed media, realty, metal, energy and FMCG among the strongest sectors.

The rupee firmed slightly. Kotak Neo reported that it opened 18 paise stronger at 94.56 per dollar against a previous close of 94.74. The RBI website showed the FBIL USD/INR reference rate at ₹94.8416 as of 07:30 UTC (1:00 pm IST) on Nov 4. The Yahoo Finance quote in the table is measured against Yahoo's Nov 3 daily value, so it can differ from onshore closing rates.

What drove it

US midterm results and the AI trade

The main global event was the US midterm count. In a report carried by WRAL, the Associated Press said Democrats won majorities in both the House and the Senate. It added that they still lack a filibuster-proof Senate majority and that President Donald Trump keeps his veto power. HDFC Sky's pre-open report said markets were weighing what the outcome could mean for the Middle East conflict, energy prices, AI infrastructure investment and US fiscal policy.

The reaction was sharpest in AI-linked markets. In its updated Nov 4 report, the AP put Japan's Nikkei 225 down 1.4% at 62,188.63, after a steeper early fall. The AP also said investors were worried that "AI-related share prices have shot too high." India has relatively few AI hardware stocks, so the hit was smaller and fell mainly on IT services exporters. The Nifty IT index lost 1.50%. For the wider regional read-through, see our report on what the US midterm results mean for ASEAN markets.

Consumer, metal and defence stocks

Domestic-focused sectors did most of the work. The Nifty FMCG index rose 1.50%, extending Tuesday's gain, and the Nifty Metal index climbed 2.80%, according to Yahoo Finance data. Bharat Electronics, a state-run defence electronics maker, rose 4.71%. Trade Brains reported that Bharat Heavy Electricals had reportedly won four 2,800 MW orders from Adani Power. Bullquill has not independently verified those orders.

Quarterly results

The September-quarter earnings season moved several stocks. Trade Brains reported that the National Stock Exchange's quarterly net profit rose 23% to ₹2,578 crore. HDFC Sky also reported the 23% rise and said higher cash-market volumes helped. Trade Brains said Alembic Pharmaceuticals rose 14.11% to ₹916.10 by 09:05 UTC (14:35 IST) after net profit climbed 81.1% to ₹335 crore. It said Zydus Lifesciences fell 3.6% after its net profit dropped 26.6% to ₹925.5 crore, even though revenue rose. Both outlets reported that Equitas Small Finance Bank named Balaji Nuthalapadi interim chief executive. Trade Brains said the appointment is subject to RBI approval.

Fund flows

Foreign buying continued to support the rally. HDFC Sky, citing provisional exchange data, reported that foreign portfolio investors were net buyers of ₹6,837 crore on Tuesday, Nov 3, and had been net buyers in five of the past six sessions. Trade Brains reported that domestic institutions were net sellers of about ₹3,679 crore that day. Figures for Nov 4 had not been published when this brief was written.

Oil and bonds

Crude was steadier after recent declines. HDFC Sky reported that Brent crude settled 0.86% lower at $102.70 a barrel on Tuesday, Nov 3. That was the front-month January contract, since December Brent expired on Oct 30. In Wednesday trading, the AP said in its updated report (which did not give a quote time) that Brent was up 0.4% at $103.88 and US crude was up 0.3% at $96.34. Trade Brains reported that India's 10-year government bond yield eased to 7.33% by 06:19 UTC (11:49 IST), after touching its highest level since March 2023. For how oil feeds into inflation and rates, see our explainer on oil price shocks.

Political & policy watch

• US Congress: The AP reported that Democrats won control of both chambers. Changes in US policy on tariffs, technology or the Middle East would depend on legislation that the president can veto.
• Strait of Hormuz: HDFC Sky said the strait, which it said carries about a fifth of global oil supplies, remains a source of uncertainty. Trade Brains reported that oil traders were weighing US–Iran peace talks.
• Reserve Bank of India: The RBI website showed the policy repo rate at 5.50%. Trade Brains reported that the RBI formed a Technical Consultative Committee for Financial Markets on Nov 4.

What to watch next

• Nov 5 and after: Final calls in the remaining US races, and any statements on tariffs, AI regulation or Iran policy.
• Ongoing: More September-quarter results from Indian companies, along with daily provisional FII/DII data from the exchanges.
• Dec 2–4, 2026: RBI Monetary Policy Committee meeting, according to the RBI's published schedule.
• Dec 8–9, 2026: US Federal Reserve FOMC meeting, with a Summary of Economic Projections, according to the Fed's calendar.

Risk checklist for readers

• Election results can move markets for several sessions as investors reassess policy. Initial reactions in Asia sometimes reverse once US markets open.
• Sector divergence matters: on Nov 4, IT fell while FMCG and metals rose, so a headline index gain can hide sharp losses in individual sectors.
• Provisional FII/DII figures are preliminary and can differ from final depository data.
• Oil prices affect India's import bill, inflation and the rupee. Check the benchmark, contract month and time of any quote.
• Rupee rates differ by measure: the FBIL reference rate, the onshore close and international quotes are not the same.
• Reported company orders and management guidance are not the same as filed results. Check exchange filings on NSE and BSE.

This article is for information only and is not investment advice.