Indices may open negative on Nov 5, 2024

5 Nov 2024 , 07:44 AM

Indian benchmark indices may open negative on November 5 amid high foreign investor selling and weak quarterly earnings. The GIFT Nifty was trading 28 points lower around 24,060, a short while ago this morning.

On Monday, the indices closed lower. The Sensex dropped 1.2%, losing 942 points to end at 78,782.24. Meanwhile, the Nifty fell by 1.27%, down 309 points to settle at 23,995.35. Broader market indices also saw declines, with the BSE MidCap index down 1.3% and the SmallCap index declining by 1.65%.

Global markets:

Asian equities edged lower in early trading, reflecting a cautious mood. This comes as investors are awaiting the upcoming U.S. presidential election and the Federal Reserve’s rate decision. Rising risk-off sentiment weighed on the markets as the countdown began to these pivotal events.

U.S. stocks ended slightly down after a volatile session on Monday. The investors are bracing for a pivotal week featuring the U.S. presidential election and a policy announcement from the Federal Reserve. The Dow Jones Industrial Average declined by 257.59 points, or 0.61%, to close at 41,794.60. The S&P 500 fell by 16.11 points, or 0.28%, ending at 5,712.69. However, the Nasdaq Composite dropped 59.93 points, or 0.33%, to 18,179.98.