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The Sensex surges 1,233.25 points, or 1.66%, to close at 75,692.78, while the Nifty advances 387.70 points, or 1.68%, to settle at 23,440.80.
Stock Market Today.
The domestic equity markets ended Monday’s session with strong gains, supported by a sharp rally in Reliance Industries and broad-based buying across metal, oil and gas, cement and consumer durables stocks.
The BSE Sensex surged 1,233.25 points, or 1.66%, to close at 75,692.78. The index opened at 75,178.24 and touched an intraday high of 75,692.78, while its low for the session stood at 74,978.12.
The NSE Nifty 50 advanced 387.70 points, or 1.68%, to settle at 23,440.80. The index opened at 23,222.30 and climbed to an intraday high of 23,440.80.
The rally gathered strength in the second half of the session, with Reliance Industries emerging as the biggest driver of gains among the Sensex constituents. Buying in metal, oil and gas and consumer durables stocks further supported the market.
Reliance Industries Skyrockets 11.64%
Reliance Industries shares skyrocketed 11.64% to close at Rs 1,299, emerging as the biggest gainer among Sensex constituents. The stock’s sharp advance provided significant support to the benchmark indices, given its substantial weight in both indices.
Tata Steel was the second-biggest gainer, rising 5.64%. UltraTech Cement advanced 2.75%, while State Bank of India gained 2.71%.
NTPC rose 2.37%, while Maruti Suzuki gained 2.16%. Larsen & Toubro advanced 2%, and Bharat Electronics climbed 1.91%.
Hindustan Unilever gained 1.72%, while Asian Paints and Bajaj Finserv rose 1.43% and 1.27%, respectively.
However, the rally was not entirely uniform. Infosys fell 1.61%, making it the biggest laggard among the stocks shown on the market screen. Kotak Mahindra Bank declined 0.65%, while ICICI Bank slipped 0.63%. Sun Pharmaceutical Industries and Axis Bank also ended lower.
Oil & Gas, Metal Stocks Lead Sectoral Rally
Sectoral indices recorded strong gains, with the Nifty Oil & Gas index leading the advance, surging 5.95%.
The Nifty Metal index gained 3.21%, while the Nifty Cement index advanced 2.92%. The Nifty Consumer Durables index rose 2.70%, and the Nifty Chemicals index gained 1.71%.
The Nifty Auto index advanced 1.33%, while the Nifty PSU Bank index rose 1.36%. The Nifty Financial Services ex-Bank index gained 1.42%.
However, the Nifty IT index declined 0.50%, while the Nifty Media index fell 0.76%. The Nifty Pharma index also ended marginally lower.
Broader Markets Advance
Buying extended beyond large-cap stocks, with most broader market indices ending higher.
The Nifty Next 50 gained 1.85%, outperforming the Nifty 50. The Nifty Midcap Select rose 1.38%, while the Nifty Midcap 100 advanced 1.19%.
The Nifty Smallcap 100 gained 0.71%, while the Nifty Smallcap 250 advanced 1.35%.
The Nifty 100 and Nifty 500 rose 1.71% and 1.58%, respectively, indicating that the rally extended across several market segments.
The India VIX, a measure of expected market volatility, rose 1.38% to 15.52, indicating a modest increase in near-term volatility expectations despite the strong gains in benchmark indices.
Why Did the Stock Market Rally Today? 5 Key Factors
1. Reliance Industries’ Strong Earnings Trigger Buying
Reliance Industries was the biggest driver of Monday’s market rally, with its shares skyrocketing 11.64% to Rs 1,299 on the BSE. The stock surged after the company reported a strong September-quarter performance, supported by improved refining and petrochemical margins and growth in its telecom business.
Reliance reported a 40.6% year-on-year increase in net profit attributable to shareholders to Rs 25,548 crore for the September quarter, beating analysts’ expectations. The results strengthened investor confidence in the company’s earnings outlook. Given Reliance’s significant weight in the benchmark indices, the sharp rise in its shares provided substantial support to the Sensex and Nifty.
2. Crude Oil Prices Fall On Hopes Of Progress In US-Iran Talks
A decline in crude oil prices provided another boost to Indian equities. Brent crude fell towards $110 per barrel from a recent six-month high of around $118, amid hopes of progress in diplomatic efforts to end the US-Iran conflict.
Lower oil prices are generally positive for India, which depends heavily on imports to meet its crude oil requirements. A sustained decline can ease pressure on the import bill, inflation and the rupee, while potentially improving margins for companies in sectors that consume significant amounts of fuel and other petroleum products. The Nifty Oil & Gas index rose 5.95% on Monday.
3. Foreign Investor Buying Supports Sentiment
Foreign institutional investors (FIIs) bought Indian equities worth Rs 3,598.54 crore in the cash market on Friday, October 30, according to provisional exchange data.
The buying provided support to sentiment at the start of the new trading week. Foreign investment flows are closely watched because sustained inflows can improve liquidity and support large-cap stocks.
4. Positive Asian Market Cues Add To Gains
Indian equities also drew support from gains across several Asian markets. Japan, South Korea, China and Hong Kong traded higher on Monday, providing a supportive regional backdrop for domestic stocks.
The positive trend came despite losses on Wall Street on Friday, when technology stocks came under pressure amid concerns about the scale of artificial intelligence investments and the returns they may generate.
The contrasting trends highlight that global cues were mixed rather than uniformly positive. Domestic factors, particularly Reliance’s earnings and easing crude prices, were important in supporting Indian equities.
5. Broad-Based Buying In Metals, Oil & Gas And Consumer Durables
The rally extended beyond Reliance Industries, with several sectoral and broader market indices recording strong gains. The Nifty Oil & Gas index surged 5.95%, while the Nifty Metal index gained 3.21%. The Nifty Cement and Nifty Consumer Durables indices advanced 2.92% and 2.70%, respectively.
The Nifty Auto index rose 1.33%, while the Nifty PSU Bank index gained 1.36%. Broader indices also advanced, with the Nifty Next 50 rising 1.85% and the Nifty 500 gaining 1.58%.
These gains indicate that buying interest extended across market segments. However, the Nifty IT and Nifty Media indices ended lower, showing that the advance was not universal.
Disclaimer: Network18 and TV18 – the companies that operate news18.com – are controlled by Independent Media Trust, of which Reliance Industries is the sole beneficiary.
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Ask News18The domestic equity markets ended with strong gains on Monday, November 2, 2026, supported by a sharp rally in Reliance Industries, broad-based buying across metal, oil and gas, cement, and consumer durables stocks, declining crude oil prices, foreign investor buying, and positive Asian market cues.
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