Foreign institutional investors unleashed massive liquidity on Wednesday, purchasing a net ₹7,284.03 crore in Indian equities on a provisional basis.
Local money took the opposite side. Domestic institutional funds offloaded ₹3,712.23 crore, locking in profits during the broad climb. The sharp divergence hands Indian desks strong momentum entering the November 5 trading session, boosted by an overnight risk rally across global bourses.
Wall Street exploded upward at the open. The Dow Jones Industrial Average surged more than 1,000 points—a crisp 2% advance—while both the S&P 500 and the tech-heavy Nasdaq Composite leaped 1.1%. Traders rushed back into equities as the US midterm elections concluded with Democrats taking control of both chambers of the US Congress. Yet the political shift rattled select tech pockets: Democratic candidates critical of rapid data centre development scored key victories, immediately sparking debate over capital expenditure pipelines for artificial intelligence infrastructure.
Energy markets remained volatile. Brent crude swung back to $104.27 a barrel in early Asian hours after sliding below the $104 mark during the previous session. West Texas Intermediate traded near $97 a barrel following an intraday churn of nearly $5, with pit traders attempting to price conflicting developments out of US-Iran diplomatic talks.
Dealers now turn to Washington for macro guidance. Preliminary third-quarter productivity and costs data will hit terminals at 8:30 am ET on Thursday, November 5, alongside weekly jobless claims, where the prior reading clocked in at 197,000 against expectations of 194,000. Speeches from Cleveland Federal Reserve President Beth Hammack and Dallas Fed President Lorie Logan will follow, setting the tone for interest rate expectations across emerging markets.