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The NSE Nifty advances 294.50 points, or 1.26%, to 23,735.30. The index opened at 23,582.25 and touched a high of 23,746.25 during the session.
Stock Market Today.
Stock Market Today, November 3: The domestic equity markets extended their rally for a second consecutive session on Tuesday, with the Sensex surging more than 1,000 points and the Nifty 50 crossing the 23,700 mark as buying gathered momentum across banking, FMCG, financial services and realty stocks.
The BSE Sensex jumped 1,065 points, or 1.41%, to 76,757.78 around 1:45 pm, against its previous close of 75,692.78. The index touched an intraday high of 76,779.66 after opening at 76,288.65.
The NSE Nifty 50 advanced 294.50 points, or 1.26%, to 23,735.30. The index opened at 23,582.25 and touched a high of 23,746.25 during the session.
The latest gains follow Monday’s strong rally, when the Sensex climbed 1,233.25 points, or 1.66%, while the Nifty advanced 387.70 points, or 1.68%. The recovery has been supported by easing crude oil prices, renewed foreign investor buying and optimism surrounding corporate earnings.
Why Is the Stock Market Rising Today? 5 Key Factors
1. Crude oil prices ease, supporting investor sentiment
The recent decline in crude oil prices has provided significant relief to Indian equities. Brent crude fell around 7% in the previous session amid hopes of progress in diplomatic efforts involving Iran and Qatari mediators. Prices were hovering around $105 a barrel on Tuesday.
Lower crude prices are positive for India because the country depends heavily on oil imports. A sustained decline could ease pressure on the import bill, inflation, the rupee and corporate input costs.
However, geopolitical uncertainty remains, and oil prices are still elevated. The durability of this support will depend on further developments in West Asia.
2. Foreign investors return to Indian equities
Foreign institutional investors (FIIs) turned net buyers on Monday, purchasing Indian equities worth about Rs 3,114.68 crore, according to provisional exchange data.
The return of foreign buying has improved sentiment after sustained selling pressure in recent months. Continued inflows could provide additional support to large-cap stocks and help sustain the market recovery.
However, domestic institutional investors were net sellers on Monday, indicating that buying interest was not uniform across investor categories.
3. Strong September-quarter earnings boost confidence
The ongoing earnings season is providing stock-specific triggers for the rally. Reliance Industries was the biggest driver of Monday’s advance after its September-quarter results, with the stock surging 11.6%. Its strong performance helped lift the broader market and improve sentiment towards heavyweight stocks.
On Tuesday, however, Reliance shares were down 0.73% in your 1:45 pm snapshot, suggesting some profit-taking after the previous session’s sharp rally.
Investors are also tracking quarterly results from companies such as Marico and Granules India. Marico reported better-than-expected quarterly profit, while Granules India posted a roughly 40% increase in September-quarter profit.
4. Buying broadens across sectors
Tuesday’s rally has spread beyond the stocks that led Monday’s advance, with banking, FMCG, realty and financial services shares attracting strong buying interest. The Nifty FMCG index rose 2.46%, while the Nifty Realty index gained 2.07%. The Nifty Financial Services Ex-Bank index advanced 1.99%, and the Nifty Financial Services 25/50 index climbed 1.95%.
The Nifty Private Bank index gained 1.82%, while the Nifty Auto index advanced 1.36%.
The Nifty 500 was up 1.04%, indicating that the rally extended across a broad section of the market. The Nifty Midcap 100 gained 0.89%, while the Nifty Smallcap 100 advanced 0.62%.
5. Buzz around a possible LTCG tax review adds to optimism
Expectations of a possible review of the long-term capital gains (LTCG) tax structure have also acted as a sentiment booster.
Sensex Gainers and Losers: Bharti Airtel, HDFC Bank Lead
Bharti Airtel, HDFC Bank, ICICI Bank, Asian Paints and Hindustan Unilever were among the leading gainers in the Sensex pack at 1:45 pm.
Bharti Airtel advanced 4.60%, while HDFC Bank rose 3.29%. ICICI Bank gained 3.19%, Asian Paints climbed 2.90%, Hindustan Unilever advanced 2.62% and Axis Bank rose 2.56%.
UltraTech Cement, Maruti Suzuki, IndiGo and Eternal also traded higher.
On the other hand, NTPC fell 1.70%, while Power Grid declined 0.75%. Reliance Industries lost 0.73%, Tata Steel slipped 0.71% and Trent was down 0.56%.
The divergence between Reliance and other heavyweight stocks underscores the shift in buying towards banking, telecom and consumption-related shares.
India VIX Rises 3.5%
Despite the strong gains in benchmark indices, the India VIX rose 3.51% to 16.05 in the latest snapshot. The rise in the volatility gauge suggests that traders continue to price in uncertainty even as equity prices advance.
Market outlook: The continuation of the rally is encouraging, particularly as gains have broadened across sectors. However, the rise in India VIX and the persistence of geopolitical risks suggest that volatility could remain elevated. The sustainability of the recovery will depend on whether foreign inflows continue and crude oil prices remain lower.
V K Vijayakumar, chief investment strategist at Geojit Investments, said, “Circumstances are ideal for the continuation of the ongoing market rally. Decline in Brent crude to $104, further weakening of the AI trade, continuing flow of good Q2 results and FIIs turning buyers have potential to accelerate the ongoing rally. The 11.6% surge in a mega cap stock in one day is very rare. But this happened in RIL yesterday. Huge delivery based buying of around Rs 6413 crores, supported by excellent Q2 results, triggered massive short covering in the stock. Massive value buying along with big short covering leads to such sharp surges in stocks, even in megacaps. The takeaway from this experience is that patient value buying will be rewarded. It is possible that there are short positions in many quality large-caps. These are short-positions created by bears on expectations of continued FII selling. The circumstances are changing.”
He added that while the AI trade has slightly weakened, it is important to understand that this is only a correction, not yet a crash. Results of many AI companies continue to be good. So watch out for the trends in this segment.
“Results of the US mid-term elections due tomorrow and its impact on geopolitical dynamics will be keenly watched by the market in the coming days,” Vijayakumar said.
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Ask News18Domestic equity markets extended their rally on Tuesday, November 3, 2026, with the Sensex surging over 1,000 points and the Nifty 50 crossing 23,700. This recovery was driven by easing crude oil prices, renewed foreign institutional investor buying, and strong corporate earnings from the September quarter.
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