India's stocks market closed in the red on Wednesday, November 2, after the latest polls showed that Donald Trump captured the lead in the presidential race.In addition, the manufacturing PMI came in yesterday at 54.4 in October compared to 52.1 in September.By the close, the Nifty 50 fell 1.30% to 8,514, and the BSE Sensex 30 was 1.25% lower at 27,527.22.On the Nifty 50, Mahindra & Mahindra and Bharti Infratel outperformed the broader market, spiking 2.94% and 2.7%, respectively. On the other side of the ledger, Oil & Natural Gas and Bank of Baroda receded 4.06% and 3.41%, respectively.The BSE Sensex 30 gainers included Mahindra & Mahindra and NTPC, which advanced 3.54% and 0.74%. Among the decliners, Oil & Natural Gas and Tata Motors retreated 4.10% and 3.19%, respectively.On the currency front, the USD/INR pair ticked up 0.13% to 66.783, and EUR/INR firmed 0.36% to 73.998. The 10-year bond yield widened 0.07% to 6,916%.The banking sector underperformed, with Yes Bank and Bank of Baroda shedding more than 3%.Oil&gas equities were also under pressure amid falling oil prices. Thus, Bharat Petroleum and Oil & Natural Gas sank about 2.5%.Carmakers Mahindra & Mahindra climbed 3.54% as sales rose 1% in October.Carmaker Bajaj Auto slipped 0.25%, even though October sales increased 5%.MIC Electronics tumbled 9% after quarterly earnings dropped 71.5%.From a technical standpoint, a small triangle may take shape with a breakout to the downside. Stochastic lines are heading south, so the benchmark still holds upside potential.