Sensex jumps 765 points during early trade on sharp rally in Reliance shares, decline in oil prices
The Indian stock market saw a significant surge in early trade, with the Sensex rising 765 points following strong earnings from Reliance Industries and a decline in global oil prices. Analysts noted that the cooling of crude prices and a shift away from AI-focused trades are benefiting the Indian market.
Why it matters
Market rallies driven by major conglomerates like Reliance indicate investor confidence and the influence of global commodity trends on emerging markets.
Mumbai Stock market benchmark indices Sensex and Nifty surged in early trade on Monday (November 2, 2026), driven by a sharp rally in bellwether Reliance Industries post earnings announcement and cooling crude oil prices. Foreign fund inflows and a positive trend in Asian equities also added to the markets optimism during the initial trading. The 30-share BSE Sensex jumped 764.72 points to 75,216.80 in early trade. The 50-share NSE Nifty surged 201.40 points to 23,255.90. From the 30 Sensex firms, Reliance Industries jumped over 6% after the firm posted a record quarterly profit of ₹29,550 crore for July-September, up 33.8% from a year earlier, as its oil-to-chemicals business rode a surge in global fuel margins and growth in its telecom arm offset the relatively subdued performance in retail. NTPC, Tata Steel, Power Grid, Maruti and State Bank of India were also among the gainers.
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