Indian stocks poised to open lower as US midterm vote outcome looms

Indian equities were set for a weaker Wednesday start as traders waited for the US midterm election result, Business Recorder reported. GIFT Nifty futures stood at 23,711 at 7:51 a.m. IST, pointing to a lower opening for the Nifty 50, which ended Tuesday at 23,810.85. The Nifty 50 and BSE Sensex had each gained about 5% over four sessions, reaching their highest closes in two months.

The vote’s implications for Middle East conflict, energy costs, AI data-centre investment and US government finances were among the issues drawing attention. Foreign investors bought Indian shares worth 68.37 billion rupees ($721.66 million) on Tuesday, and were net buyers in five of the previous six sessions, while Brent crude traded near $103 a barrel. The recent equity gains had also been supported by corporate earnings, lower oil prices and initial signs of stronger foreign inflows.