Finance

Stock Market Closing, Nov 2, 2026: Sensex Jumps 1,233 Points, Nifty Ends at 23,441 as Reliance Soars 12%

Sensex rose 1.66% to 75,692.78 and Nifty 1.68% to 23,440.80 on Monday, led by a near-12% jump in Reliance after record Q2 results and a 4% fall in Brent on Doha talks hopes.

Raj ·Founder & Editor

Published in Finance · 5 min read · Nov 2, 2026

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In this article

Closing figures as of the 3:30 PM IST market close on Monday 2 November 2026. Other figures carry their own times below. Written at about 7:15 PM IST; anything not independently confirmed is flagged.

Indian shares rallied for a third straight session on Monday 2 November. Reliance Industries posted its biggest one-day gain since April 2020 after record quarterly results, and crude oil fell sharply on hopes that talks in Doha could end the Iran war and reopen the Strait of Hormuz. Both benchmarks closed at the day's high.

Closing numbers

BSE Sensex: 75,692.78, up 1,233.25 points or 1.66%. It opened at 75,178.24, according to India Today. The Indian Express said this was the Sensex's highest close since 7 September.
NSE Nifty 50: 23,440.80, up 387.70 points or 1.68%, its highest level in five weeks according to the Indian Express. It opened at 23,222.30, and the day's low was 23,207.05.
Nifty Bank: up 0.58%, according to SBI Securities.
Broader market: the Nifty Midcap 100 rose 1.19% to 57,983.40 and the Nifty Smallcap 100 rose 0.71% to 18,595.30, according to Upstox. Moneycontrol put market breadth at about 2,668 stocks advancing and 1,469 declining.

Sectors: oil and gas and metals lead, IT lags

According to India Today's closing data, the Nifty Oil and Gas index was the best-performing sector, up 5.95%. Metals rose 3.21%, consumer durables 2.70%, PSU banks 1.36% and autos 1.33%. On the losing side, Nifty Media fell 0.76% and Nifty IT 0.50%, while pharma and private banks ended slightly lower.

Top gainers and losers

On the Nifty 50, according to Upstox's closing list:

Gainers: Reliance Industries (+11.60%), Tata Steel (+5.83%), JSW Steel (+5.13%), Shriram Finance (+4.88%) and Coal India (+4.88%). Coal India said it set a monthly record for coal supplies in October, at 70.3 million tonnes.
Losers: Infosys (-2.03%), ICICI Bank (-0.76%), Dr. Reddy's Laboratories (-0.74%), Kotak Mahindra Bank (-0.70%) and Axis Bank (-0.66%).

Some outlets give slightly different percentages for the same stocks because they quote BSE or NSE prices taken at different times. The figures above are NSE closing figures as reported by Upstox.

Among midcaps, Dixon Technologies rose about 12% after revenue grew 46.7% year on year, even though its net profit fell. PB Fintech was the biggest midcap loser, down 6.91%.

What drove the rally

1. Reliance's record quarter

Reliance closed at Rs 1,300 on the NSE, up 11.6%. That added about Rs 1.84 lakh crore to its market value, which now stands at about Rs 17.6 lakh crore, according to Mint. In its Q2 FY27 investor presentation, the company reported:

consolidated revenue of Rs 3,62,268 crore, up 27.8%;
record EBITDA of Rs 62,409 crore, up 23.9%;
record consolidated profit after tax of Rs 29,550 crore, up 33.8%. Profit attributable to owners, a narrower measure, rose 41% to Rs 25,548 crore, according to Economic Times and Upstox.

The oil-to-chemicals business led the growth, with segment EBITDA up about 68% as fuel margins widened during the supply disruptions in West Asia. Retail missed some brokerage estimates. Jefferies kept a 'buy' rating, and Nomura kept 'buy' while cutting its target price, according to Economic Times.

2. Crude oil fell on Doha talks

Iranian negotiators held a third day of talks with Qatari mediators in Doha. Reuters, as carried by BusinessLine, reported that a draft proposal is being circulated for feedback and that a follow-up meeting is possible. Brent fell more than 4% to about $108 a barrel, its lowest since 21 October, according to PTI and The Hindu (figures as of about 4 PM IST). That is a large move for India, which imports most of its oil. Brent had touched a six-month high near $118 on Friday. Oil prices can swing sharply around the US midterm elections on Tuesday 3 November.

3. Strong domestic data

Geojit's Vinod Nair pointed to better-than-expected Q2 earnings and strong domestic data:

Car sales: October passenger vehicle wholesales were a record, estimated at 5.25 to 5.30 lakh units, up about 13% to 15% year on year, according to BusinessLine and The Hindu. Maruti Suzuki reported domestic sales of 2,12,384 units, up 20.45% and its highest month ever.
GST: gross GST collections rose 22.9% to about Rs 2.31 lakh crore in October.
Earnings so far: Motilal Oswal estimated, as of 31 October, that earnings at the 35 Nifty companies that had reported were up 22% year on year, according to The Hindu.

4. Foreign buying

The latest exchange (provisional) data, for Friday 30 October, showed FIIs as net buyers of Rs 3,598.54 crore in the cash market and DIIs as net sellers of Rs 817.51 crore. Separately, NSDL's daily data for the 2 November reporting date showed FPIs as net equity buyers of Rs 4,457.80 crore; that figure covers trades already settled from earlier sessions. The provisional FII/DII figures for Monday's own session had not been published when this was written (about 7:15 PM IST). Analysts quoted by Moneycontrol also cited money moving out of AI-linked US tech stocks as a support for Indian equities.

Rupee

The rupee closed at 94.90 per dollar, little changed from 94.95 in the previous session, according to Reuters as carried by BusinessLine. It gave up early gains even though oil prices fell and the dollar index slipped about 0.5% to around 101.5. Traders cited caution ahead of the US midterms and strong demand for dollars in the offshore non-deliverable forward market.

What to watch

US midterms (Tuesday 3 November) and any US decision on Iran afterwards, which could move crude in either direction.
Doha talks: whether the draft proposal leads to a deal on reopening Hormuz.
Interest rates: futures are pricing a possible Federal Reserve rate rise in December. At home, the RBI raised the repo rate to 5.5% in October, and its next policy meeting is on 2 to 4 December.
Q2 earnings: results continue this week. Analysts quoted by Moneycontrol named 23,250 to 23,270 as near-term support for the Nifty and 23,600 as resistance. These are technical opinions, not forecasts.

Sources

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Written by Raj

Founder & Editor

I write HorizonDesk: practical, no-hype articles on technology, money, business and the vehicles we drive. Everything here is something I’ve researched, tested or wanted explained clearly myself.