Financial Summary: Wednesday, November 4, 2026

Democrats Win Midterms; Asian Tech Stocks Tumble, Gold Jumps 2%

A Democratic sweep in US midterms led to a sell-off in Asian tech stocks, with South Korea's KOSPI dropping 4% and Taiwan's index falling more than 3%. Precious metals rose, with gold gaining 2% to $4,005.40 an ounce and silver jumping 4% to $51.68. The US dollar weakened slightly.

Kospi Jumps 1.5% as Nikkei Falls 1.55% on US Midterm Vote Count

South Korea's Kospi gained 1.5% while Japan's Nikkei 225 fell 1.55% as investors reacted to early US midterm results, with uncertainty over potential changes in US trade policy.

Democrats Need Four Senate, Three House Seats to Flip Congress

Democrats need four Senate and three House seats to flip both chambers, with the battle concentrated in states and districts won by Trump. Midterm results, dominated by AI-generated campaign ads, could shift energy and financial services sectors due to policy changes if Democrats gain control.

Gold Climbs ₹25 to ₹12,905 per Gram as Dhanteras Buying Picks Up

Gold prices rose ₹25 to ₹12,905 per gram, with 24-carat gold gaining ₹26. October saw ₹3,300 crore inflow into gold ETFs, boosting AUM to ₹1.91 lakh crore. Dhanteras season and wedding demand are expected to drive store traffic.

FPIs Buy ₹6,837 Crore in Equities as Sensex, Nifty Hit Two-Month Highs

The Nifty 50 closed at 23,811, its highest level since September 4, as foreign institutional investors (FIIs) net bought 28,587 Nifty futures contracts, reducing open interest by 13.3%. This marks the highest FII index futures purchase in nearly four months.

FIIs Buy ₹6,900 Crore in a Day as Rupee Settles at 94.75

The rupee settled at 94.75 against the dollar, having gained 37 paise in a week, as foreign institutional investors bought ₹6,836.81 crore worth of Indian equities, the largest single-day investment of 2026, driving benchmark indices higher for a fourth session.

SBI Q2 net profit rises 14% to ₹23,038 crore on stake sale

SBI's Q2 net profit rose 14% year-on-year to ₹23,038 crore, driven by gains from the sale of its stake in SBI Fund Management, with net interest income up 14.7% to ₹49,143 crore.

AMD Shares Jump 7% as Data Center Sales Nearly Double

Advanced Micro Devices reported third-quarter adjusted earnings of $2.09 per share, a 45% revenue increase to $13.38 billion, and nearly doubled data center sales, boosting the stock 7% in extended trading. Revenue guidance of $17 billion for the current quarter exceeds analyst expectations.

NSE Q2 net profit falls 17% QoQ to ₹2,576 crore as options premium drops 25%

NSE's Q2 net profit fell 17% quarter-on-quarter to ₹2,575.9 crore, as consolidated revenue declined 10.8% to ₹4,066.8 crore and EBITDA fell 13.3% to ₹3,079 crore, driven by a 25% drop in equity options premium.

NLMC seeks ₹15,000 crore from CPSE land sales in FY27

The National Land Monetization Corporation (NLMC) expects to generate an additional ₹4,000–5,000 crore from the sale of surplus land assets held by central public sector enterprises (CPSEs) by the end of FY27, contributing to the government's ₹80,000 crore target for disinvestment and public-sector asset monetization.

Indian Household Borrowing Jumps 36%, Reaching 46% of GDP

Household borrowing in India rose 36% year-on-year to reach 46% of GDP, outpacing disposable income growth fourfold. Higher interest rates are expected to curb spending, challenging growth依赖消费的模式。

RBI Names Seven External Members to Financial Markets Committee

The Reserve Bank of India has appointed seven external members, including treasury and financial experts, to the Technical Consultative Committee for Financial Markets, led by Deputy Governor Rohit Jain, to enhance market efficiency and resilience, focusing on policy, liquidity, and infrastructure issues across various financial markets.

Binance hackers steal $6.3 billion via fake job interviews, AI tools

Binance reported that hackers used fake job interviews and compromised internal AI tools to steal $6.3 billion in a breach on October 29, with North Korea denying allegations of involvement. Arbitrage traders exploited price gaps, reducing the attackers' gains by $119 million, and the incident may increase investor focus on security infrastructure over trading volumes.

CrowdStrike Adds AI Kill Switch to Falcon Guardian Platform

CrowdStrike has introduced an AI kill switch to its Falcon Guardian platform, enabling security teams to terminate and block misbehaving AI agents, seen as a significant growth driver for the company and the broader industry.

Razorpay wins Sebi approval for ₹5,000-6,000 crore IPO

Razorpay has secured Sebi approval for an initial public offering of ₹5,000-6,000 crore, targeting a valuation of around $5 billion.