From Wall Street to D-Street: What history suggests for S&P 500 returns, impact on India stock market, Sensex, Nifty

What happened: Emkay Global Financial Services assessed the November 2026 US midterm elections, expecting Democrats to have a strong chance of winning the House and improved Senate prospects, and outlined three possible outcomes. Key numbers: S&P 500 average gains after midterms of around Why it matters: Emkay cautions the current starting point differs from a typical midterm cycle, with less room for a post-election rally. For India, it sees the impact flowing through crude oil, the dollar and US bond yields, with risk of renewed Iran conflict escalation pressuring the rupee and equities.

Emkay Global Financial Services assessed the November 2026 US midterm elections, expecting Democrats to have a strong chance of winning the House and improved Senate prospects, and outlined three possible outcomes.

Emkay cautions the current starting point differs from a typical midterm cycle, with less room for a post-election rally. For India, it sees the impact flowing through crude oil, the dollar and US bond yields, with risk of renewed Iran conflict escalation pressuring the rupee and equities.