Sensex Rises 810.42 Points, Nifty Above 23,300 as Reliance Shares Surge 7.64%

Mumbai | November 2, 2026 

The Sensex and the Nifty are India’s equity benchmark indices. Both rallied on Monday, with the Sensex gaining 810.42 points and the Nifty crossing the 23,300 level. Reliance Industries, one of the largest companies in the index by weight, led the rise after its quarterly earnings announcement. 

• The Sensex rose 810.42 points or 1.09% to 75,269.95, after gaining over 1,000 points earlier in the session. 

• The Nifty climbed 257.95 points or 1.12% to 23,311.05. 

• The Nifty opened higher at 23,222.30. 

Why Did the Sensex and Nifty Rise Today? 5 Key Factors 

Five factors drove Monday’s rally. Buying in Reliance Industries led the gains, while lower crude oil prices, foreign fund inflows, higher Asian markets and strong September-quarter results added support. 

1. Buying in Reliance Industries shares

RIL shares surged 7.64% to ₹1,253.90 after the company reported record earnings for the second quarter of the financial year 2026-27 (Q2 FY27). The stock was the top gainer and the biggest positive contributor to the Nifty 50 index. It was also the most actively traded stock on both NSE and BSE. 

2. Decline in crude oil prices

Brent crude, the global oil benchmark, traded 3% lower at $110 a barrel. US West Texas Intermediate (WTI) crude fell 3.31% to $100.677 a barrel. It eased from a six-month high. Brent had touched $118 last week. Iranian and Qatari officials held talks for the third consecutive day to push for a deal to end the US-Israeli war on Iran. 

3. Foreign institutional investor buying

Foreign institutional investors (FIIs) bought Indian equities worth ₹3,598.54 crore on Friday, which supported domestic markets. 

4. Firm global cues

Asian markets traded higher. South Korea’s Kospi, Japan’s Nikkei 225, Shanghai’s SSE Composite and Hong Kong’s Hang Seng were all in positive territory. Wall Street futures were also up. The US 10-year bond yield declined to 4.93%. In the US, the Nasdaq fell 2.8% last Friday. 

5. Strong September-quarter results

Several companies gained after reporting their September-quarter results. 

• Bank of Baroda advanced 2.89% to ₹245.49 after beating estimates on key operating metrics, including net interest income and core profit. The bank also raised its growth forecast for the financial year 2027. 

• Indian Oil Corporation shares gained 2.90% to ₹133.93 after its September-quarter profit nearly tripled year-on-year. Government compensation for domestic liquefied petroleum gas (LPG) losses helped the result, despite higher crude oil prices. 

How Did the Broader Market Perform? 

Most Nifty sectoral indices traded higher. Nifty Metal led the gains with a rise of 2.18%, while Nifty Media fell 0.62%. The Nifty Midcap 100 rose 654.55 points or 1.14% to 57,955.80, while the Nifty Smallcap 100 rose 143.05 points or 0.77% to 18,606.65. 

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