Stock market outlook for 3 November 2026: what brokers expect today

Where the street agrees: no firm in today's notes is bearish. Anand Rathi, HDFC Securities, LKP and Motilal Oswal lean positive. Most levels line up: 23,200 as support and 23,500 as the key hurdle.

Where views split: it is about how sure they are. HDFC Securities and LKP are the most upbeat and talk about 23,600 to 24,000. Religare says the upside needs a clear break above 23,500. Kotak and Riddhi Siddhi stay careful and want broad buying first. So a gap-up open could meet selling near 23,500 unless buying stays strong.

The wider picture: GIFT Nifty (an early signal of the Nifty's open) trades near 23,525 to 23,540, about 0.5% to 0.6% higher. Overseas, the S&P 500 fell about 0.5% and the Nasdaq about 1.1%, and Asian tech shares fell on worries about heavy AI spending. Brent crude is around $104 to $108 a barrel after a big fall on Monday. On 2 November, foreign investors (FIIs) bought about Rs 3,115 crore net, while domestic funds (DIIs) sold about Rs 392 crore net, per 5paisa. Results from SBI and Bajaj Finserv, and the US midterm election outcome, may move the market today.