Pre-Market Report & Global Cues| 05 November 2026

US markets rallied after Democrats won control of both the House and Senate, ending Republican control of Congress. This could make it harder for the Trump administration to continue military action against Iran. US stocks and gold rose, while the dollar and bond yields fell. Crude saw the biggest move. Crude Oil: Relief for India Brent fell nearly 10% to around $94, after staying above $110 for weeks. Markets expect the US political shift could ease tensions with Iran and improve oil supply. However, there is no confirmed peace agreement. Lower crude can reduce India's import bill, ease inflation and support the rupee. Aviation, paints, automobiles and other oil-consuming sectors could benefit. Global Markets The Dow gained over 3%, while the S&P 500 and Nasdaq also closed higher. European markets followed. Asian markets are mixed, with Hong Kong and Shanghai higher, while Japan, Taiwan and South Korea are under pressure. Technology and semiconductor stocks still face selling. Indian Market Setup GIFT Nifty indicates a gap-up opening of around 350–400 points. Lower crude, a weaker dollar and falling bond yields are positive for India. The rupee is around ₹94.64, and Indian bond yields have declined. Banking, aviation, paints and automobile stocks could benefit. Market View: Strongly Positive My near-term view on Indian markets has turned positive. After weeks of pressure from expensive crude, India is getting relief. Buying could be seen across sectors today. However, crude's fall is partly based on hopes of reduced tensions with Iran. Any fresh escalation could push prices higher again. Today's takeaway: Crude below $100 is a major positive for India. If prices stay here or fall further, the benefit could extend beyond today's session.