The Indian stock market is likely to open lower on Wednesday, November 4, 2026, following four consecutive sessions of gains. Gift Nifty was trading in the red in early trade, while shares of several companies, including SBI, NSE and MCX, are expected to remain in focus. Investors will monitor quarterly earnings and global market trends.
The Indian equity market has witnessed buying activity over the past four trading sessions. On Tuesday, November 3, the Sensex surged 1,225.07 points to close at 76,917.85, while the Nifty gained 370.05 points to settle at 23,810.85.
However, the market may witness profit booking following the recent rally. At around 7:30 am on Wednesday, Gift Nifty was trading 49.50 points, or 0.21%, lower at 23,710.50.
The 24,000 level is considered a major resistance for the Nifty, with its 200-day moving average also positioned around this level. On the downside, 23,600 is seen as a support level. According to market experts, profit booking could increase near 24,000, while a decline below 23,600 could add further pressure on the market.
State Bank of India (SBI), the country's largest public sector bank, reported a net profit of Rs 23,038 crore for the September quarter, registering an increase of approximately 14% compared with the corresponding quarter last year. The bank's net interest income also increased to Rs 49,143 crore.
The National Stock Exchange (NSE) reported a 22.8% year-on-year increase in quarterly profit to Rs 2,577.6 crore, compared with Rs 2,098.5 crore in the corresponding period last year. Its revenue increased 10.6% to Rs 4,066.8 crore.
Investors are expected to track the shares of both companies during Wednesday's trading session following the release of their quarterly results.
Multi Commodity Exchange (MCX) reported a 130.2% increase in profit to Rs 454.6 crore. Its revenue rose 113.7% to Rs 799.7 crore.
Metropolis Healthcare reported a 42.7% increase in profit to Rs 75.5 crore, while its revenue increased to Rs 496.8 crore.
In contrast, pharmaceutical company Lupin reported a 22.2% decline in profit to Rs 1,155.3 crore. However, its revenue increased 11.1% to Rs 7,827.3 crore.
Bata India reported a 31.2% increase in net profit to Rs 18.1 crore for the September quarter. The company's revenue also increased to Rs 861.7 crore.
V2 Retail recorded revenue of Rs 906 crore, marking a 27.8% increase compared with the corresponding period last year. Its profit stood at Rs 18.2 crore.
Dalmia Bharat Sugar reported an increase in profit to Rs 69.5 crore from Rs 23.3 crore. The company's revenue stood at Rs 1,061 crore.
Meanwhile, Hindustan Zinc launched two new zinc alloy products, VedAZ and VedAyush, for the galvanising industry.
Several major companies are scheduled to announce their July-September quarter results on Wednesday, November 4.
The companies include Apollo Hospitals, Nykaa, Lenskart, PhysicsWallah, Biocon, Apollo Tyres, Dabur India, Cummins India and Aurobindo Pharma.
Other companies scheduled to report their results include Power Finance Corporation, Exide Industries, Dr. Lal PathLabs, Torrent Power, Premier Energies, Zydus Lifesciences, Balkrishna Industries, Balrampur Chini Mills, Alembic Pharmaceuticals, Afcons Infrastructure, JK Lakshmi Cement, JSW Dulux and Websol Energy System.
