GIFT Nifty Signals Cautious Start After Four-Day Rally; Profit Booking Likely

Indian equity markets are expected to open cautiously on Wednesday, November 4, following a sharp four-session rally, with investors likely to book profits. GIFT Nifty traded at 23,705, down 55 points or 0.23%, signaling a mildly negative start for the Nifty and Sensex. The market will seek fresh triggers to sustain the recovery, with global cues, foreign institutional investor flows, and crude oil prices influencing sentiment. Enrich Money CEO Ponmudi R noted consolidation is possible after the rally, though easing crude prices around $96-$97 per barrel offer relief from energy-cost pressures. Improving foreign investor participation, softer oil prices, and optimism over tax-policy developments may support domestic equities. In Tuesday's session, the Sensex rose 1.62% and Nifty gained 1.58%, marking a fourth consecutive day of gains amid renewed foreign inflows.