Global cues and FII buying signal mixed start for Indian markets

Indian benchmark indices are expected to open with a negative bias on November 4, as GIFT Nifty traded lower by 44 points at 23,714, following a fourth consecutive session of gains that saw the Nifty cross 23,800. On November 3, the Sensex rose 1.62 percent to 76,917.85 and the Nifty gained 1.58 percent to 23,810.85, driven by strong Q2 earnings and buying in auto, FMCG, realty, and private banking stocks. Foreign institutional investors bought equities worth Rs 6,836 crore, while domestic institutional investors sold Rs 3,678 crore. Globally, Asian markets were mixed, with the Kospi falling 1 percent and the Nikkei down nearly 2 percent, while US equities ended mixed. The dollar index slipped to 101.57, oil climbed toward $105 a barrel, and gold edged higher to $3,934.75 per ounce.