Business · Markets · 11 hrs ago
Reliance-led rally lifts Sensex 1.66% and Nifty above 23,400
Indian stocks rose for a third straight session on Monday, with the Sensex up 1.66% and the Nifty 50 up 1.68%.
Reliance Industries surged nearly 12%, accounting for about 61% of the Sensex’s gain and nearly half of the Nifty’s rise.
The rally took the Nifty above 23,400, while mid-cap and small-cap stocks also advanced.
Falling crude prices and foreign investor buying supported shares, alongside improving market sentiment.
Lower oil prices can ease costs for India, which depends on imported energy, while foreign investors bought ₹3,115 crore of shares.
Analysts said there was no clear trigger for a sustained market rise and warned that uncertainty could keep trading range-bound.
Investors will continue to watch oil prices, foreign fund flows and company earnings for signs of the market’s next move.
Reliance Industries surged nearly 12 per cent on Monday, driving a broad rally in Indian equities.
The Sensex rose 1.66 per cent to close at 75,692.78, while the Nifty 50 gained 1.68 per cent to 23,440.80.
Both benchmarks closed at their day’s highs and extended their winning streak to three sessions.
Falling crude prices, foreign investor buying and improving risk sentiment supported the gains.
Analysts differed on how durable the rally would be, with one saying there was no immediate catalyst for a sustained rise.
- Who
- Indian equities, led by Reliance Industries, rallied.
- What
- The Sensex rose 1.66 per cent and the Nifty 50 gained 1.68 per cent, closing above 23,400.
- When
- Monday, November 2, 2026.
- Where
- Indian stock markets, including the BSE and NSE.
- Why
- Reliance’s sharp rise led the gains, while falling crude prices, foreign fund inflows and improving risk sentiment also supported the market.
This story does not have two clearly opposing sides.
The Sensex and Nifty extended their winning streaks to a third session as Indian equities rallied.
The Sensex closed at 75,692.78 and the Nifty 50 at 23,440.80, both at their day’s highs.
- Reliance Industries
- Rose nearly 12 per cent
- Sensex close
- 75,692.78, up 1,233.25 points or 1.66 per cent
- Nifty 50 close
- 23,440.80, up 387.70 points or 1.68 per cent
- Foreign portfolio investors
- Net buyers of equities worth ₹3,115 crore
- Brent crude
- Fell about $10 to $108 a barrel
2 sources
What people are saying
Today’s move was largely a Reliance-led rally, with the stock catching up after the strong performance seen in Jio post-listing.
Beyond that, I do not see any immediate catalyst for a sustained market bounce.
Indian equities opened the week on a firm footing, supported by better than estimated Q2 earnings and improving domestic cues.