Sensex Nifty Rally: Monday morning brought a big relief for Indian stock market investors. Despite weak global cues, the domestic market got off to a good start on November 2. As soon as the market opened, there was such a buying atmosphere that both the Sensex and the Nifty surged in no time. In early trade, the benchmark Sensex opened up 715 points or 0.96 percent at 75,175. At the same time, the Nifty 50 index opened trading up 195 points or 0.85 percent at 23,271.
The buying sped up within minutes of the market opening. At 9.30 am, the Sensex was up nearly 900 points, or 1.19 percent, at 75,349.07. Auto and PSU bank shares witnessed the highest buying during this period. Earlier in the month of October as well, the Indian market had broken the downward trend that had been going on for two months. The Nifty gained 1.9 percent and the Sensex 2.7 percent in October, on strong IT shares, good corporate results and expectations of relaxation in capital gains tax.
Reliance’s profit boosted the market
Reliance Industries, the country’s largest company, played the most important role in this surge on Monday. Reliance has posted better-than-expected results in the September quarter. The company’s quarterly net profit has seen a massive jump of 40.6 percent. The profit was boosted by the excellent performance of the company’s energy business as well as digital service provider Jio Platforms. Jio Platforms made a huge entry in the stock market last week, after which it became the second largest company in the country in terms of market cap. Jio’s quarterly net profit also increased by 13.7 percent. Due to these results, Reliance shares rose the highest in the Sensex by 4.59 percent to Rs. was 1,217.
Status of major stocks
Apart from Reliance, other major stocks also saw good movement. Along with Tata Steel, NTPC’s shares have registered an increase of more than 3 percent. However, amid this bumper market rally, some major stocks also disappointed investors. Shares of Sun Pharma, Infosys and Tech Mahindra declined in early trade.
The climate has improved due to the softening of crude oil
Behind this grandeur in the domestic market, a major change is also taking place at the international level. Iranian officials and Qatari mediators held talks for the third day in a row to end the ongoing war between the US, Israel and Iran. Crude oil prices have suddenly fallen as hopes for a peace deal have risen. Brent crude, which hit a six-month high of $118 a barrel on Friday, fell to $111 a barrel on Monday. According to Ponmudi R, CEO of stock broking platform Enrich Money, the talks between Iran and Qatar are expected to ease oil supply concerns. This has improved the outlook for the global energy market.
Return of Foreign Investors in Indian Market
The stock market has also received huge support from foreign investors (FIIs). Foreign investors, who sold heavily so far in 2026, have now slowly returned to the Indian market. According to provisional data, foreign investors on Friday invested Rs. 36 billion (about $379.53 million) worth of Indian shares were bought. This is the sixth time in the last 10 trading days that foreign investors have bought heavily in the Indian market. These statistics clearly show that the confidence of foreign investors in the Indian market is increasing once again.
