Market wrap, Nov 2: SENSEX zooms 1,233 pts, NIFTY50 ends at 23,441 as crude oil prices ease; Reliance Industries soars 12%

The Indian equity benchmark indices staged a bull run on Monday, November 2, led by strong gains in oil and gas stocks amid easing crude oil prices. A rally in heavyweight Reliance Industries (RIL) shares further lifted the market sentiment.

Among sectors, NIFTY Oil & Gas (5.95%), NIFTY Metal (3.21%), NIFTY Consumer Durables (2.7%), NIFTY PSU Bank (1.36%) and Auto (1.33%) lead the rally.

Global crude oil prices were trading at $108 per barrel (bbl) on Monday, as energy prices retracted from their previous week’s highs of $117 per bbl.

Shares of oil-to-telecom conglomerate RIL surged as it posted a 41% year-on-year (YoY) surge in its consolidated net profit (attributable to owners of the company) to ₹25,548 crore in the second quarter of the 2026-27 financial year (Q2 FY27). The YoY growth in profit was supported by a strong increase in revenues from the Oil to Chemicals (O2C) segment in the period.

Last week, foreign investors infused around ₹6,300 crore into the equity market, while the cumulative FPI outflows from Indian equities in 2026 have reached ₹2.95 lakh crore.

Globally, stocks in Asia closed mixed on Monday amid falling crude oil prices and gains in technology shares.

Japan’s Nikkei fell 0.12%, Singapore’s Straits Times declined 1.37%, while Hong Kong’s Hang Seng gained 0.26%, and China’s Shanghai Composite rose 0.92%. South Korea’s Kospi index rallied to close 2.19% higher.

Here are the key developments of Monday's session that you need to know

As many as 3,713 stocks traded on the NSE on Monday. Out of this, 2,445 advanced and 1,164 stocks declined, while 104 scrips remained unchanged.

This indicated that the market breadth was in favour of advances.

A total of 57 stocks hit their 52-week highs, while 143 stocks touched their one-year lows. Besides, 116 stocks hit their upper circuit limits, and 111 touched their lower circuit bands on Monday.

The market capitalisation of NSE-listed firms stood at ₹478.39 lakh crore at the close of the session.

India VIX, the volatility gauge, stood at 15.51 levels, rising 1.37%.

On the NIFTY50 index, 38 stocks closed higher, while 12 declined by the end of the session.

Reliance Industries took the lead among the gainers' pack, soaring 11.6%. Tata Steel (5.83%), JSW Steel (5.13%), Shriram Finance (4.88%) and Coal India (4.88%) were the other top gainers.

On the other hand, Infosys (-2.03%), ICICI Bank (-0.76%), Dr. Reddy's Laboratories (-0.74%), Kotak Mahindra Bank (-0.7%) and Axis Bank (-0.66%) were among the top losers on the 50-share index.