Indian equity markets rally for fourth straight day as Nifty reclaims 23,800

Indian equity markets extended their rally for the fourth consecutive session on 3 November 2026, driven by strong corporate earnings, renewed foreign investor interest, and easing global macro concerns. The Nifty 50 surged 370.05 points or 1.58 percent to close at 23,810.85, while the Sensex advanced 1,225.07 points or 1.62 percent to settle at 76,917.85.

Stock Picks

Market expert Raja Venkatraman, co-founder of NeoTrader, shared his top stock picks and trade strategy for 4 November. For Saregama, the recommendation is to buy above 565 rupees with a stop loss at 540 rupees and a target of 615 rupees. For ICICI Bank, the advice is to buy above 1,430 rupees, keeping a stop at 1,360 rupees and a target of 1,570 rupees. For Berger Paints, the call is to buy above 482 rupees with a stop at 455 rupees and a target of 535 rupees.

Market Details

The rally proved broad-based, with FMCG, realty, consumption, and financial stocks leading the charge. The Nifty Midcap 100 and Smallcap 100 gained 1.06 percent and 0.31 percent respectively. Sentiment improved due to a sharp drop in crude oil prices, softening US Treasury yields, and optimism around second-quarter earnings. FMCG emerged as the top sector, rising nearly 3 percent with strong gains in Nestlé India, Tata Consumer Products, Asian Paints, and Bharti Airtel. Conversely, PSU banks underperformed, and heavyweight stocks like SBI, ONGC, and Power Grid saw profit booking.

Context

Stock market analyst recommendations are based on technical charts and momentum indicators like the Relative Strength Index to spot potential trading opportunities. Equity investments carry inherent market risks, and market participants routinely monitor global factors like crude oil prices and foreign fund flows to gauge near-term direction.