Indian Stock Market Wrap: Sensex Surges 1,233 Points as Reliance and Metals Drive Nifty Above 23,400
Indian benchmark equity indices opened November on a roaring note, extending their winning streak to three consecutive sessions on Monday, November 2, 2026. Driven by a historic post-earnings surge in oil-to-telecom heavyweight Reliance Industries and strong buying across metal and energy counters, Dalal Street shrugged off recent global headwinds to record its sharpest single-day rally in months. A welcome retreat in international crude oil prices further buoyed investor sentiment.
At the post-market close, the BSE Sensex surged 1,233.25 points (+1.66%) to finish at 75,692.78. Simultaneously, the NSE Nifty 50 soared 387.70 points (+1.68%) to settle comfortably at 23,440.80. Broader markets participated in the celebration, with the Nifty Midcap 100 advancing 1.19% and the Nifty Smallcap 100 gaining 0.71%.
Market Snapshot
| Benchmark Index | Closing Level | Absolute Change | Percentage Change |
| BSE Sensex | 75,692.78 | +1,233.25 | +1.66% |
| NSE Nifty 50 | 23,440.80 | +387.70 | +1.68% |
| Nifty Oil & Gas | — | — | +5.95% |
| Nifty Metal | — | — | +3.21% |
Top Nifty 50 Gainers & Losers
Market breadth ended decisively in favor of bulls, with frontline energy and metal majors taking complete charge of the leaderboards.
Top Gainers
- Reliance Industries (RIL): ₹1,274.60 (+11.60%) — Spearheaded the headline surge following record Q2 net profit figures and robust operational EBITDA expansion.
- Tata Steel: ₹176.70 (+5.80%) — Rallied sharply as global commodity price stability triggered sector-wide accumulation.
- JSW Steel: ₹1,306.90 (+5.10%) — Gained on strong domestic steel demand commentary and improving realization projections.
- Coal India: ₹406.55 (+4.88%) — Surged alongside energy peers on solid volume growth updates.
- Shriram Finance: ₹862.05 (+4.88%) — Rebounded sharply to lead non-banking financial gainers.
Top Losers
- Infosys Ltd: ₹1,157.30 (-2.34%) — Trailed percentage decliners amid profit-booking across software exporters following last week’s outperformance.
- ICICI Bank: ₹1,382.70 (-1.09%) — Eased as investors rebalanced portfolios toward energy and commodity counters.
- Kotak Mahindra Bank: ₹457.15 (-0.96%) — Trailed lower alongside private banking peers.
- HDFC Life Insurance: ₹520.20 (-0.90%) — Slipped under selective institutional distribution.
- Axis Bank: ₹1,207.00 (-0.82%) — Consolidated lower after recent recovery attempts.
Key Market Drivers
- Reliance Blockbuster Quarterly Numbers: RIL shares posted an impressive 11.6% rally—its strongest single-day surge in years—after reporting a 40.6% YoY jump in quarterly consolidated net profit, single-handedly driving half of Nifty’s gains.
- Crude Oil Pullback: Brent crude futures fell over 2% toward $108.30/bbl, providing immediate relief to import-dependent sectors and easing inflation worries.
- Metals & Energy Surge: Sector-wide buying pushed the Nifty Oil & Gas (+5.95%) and Nifty Metal (+3.21%) indices to top the sectoral leaderboards.
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Rupee at Close
2 Nov, 2026
The Indian rupee ended marginally higher at 94.90 against the US dollar on Monday, compared with its previous close of 94.95.
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FII’s & DII’s Activity on 2 Nov, 2026
Net value in crores
| BUY | SELL | |
| DII | 392.20 | |
| FII | 3,114.68 |
Source : NSE
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