Indian benchmarks ended higher on the third straight session on November 2, with the Nifty crossing the 23,300 mark supported by strong buying in heavyweight stocks, particularly Reliance Industries. RIL rallied around 11.5% after reporting strong Q2 earnings.


However, fall in US bond yield, cooling of Brent crude prices amid hopes of progress in talks to end the Iran war, and robust GST collections in October also supported sentiment.

Reliance Industries (RIL) shares surged over 11%, marking their biggest single-day gain since April 2020. The rally pushed the company's market capitalisation past Rs 17 lakh crore, following record Q2 FY27 earnings and bullish brokerage calls.

At close, the Sensex was up 1,233.25 points or 1.66 percent at 75,692.78, and the Nifty was up 387.70 points or 1.68 percent at 23,440.80.
The broader indices underperformed the main indices with Nifty midcap index adding 1 percent and smallcap index rising 0.7 percent.

Biggest Nifty gainers were Reliance Industries, Tata Steel, Shriram Finance, Coal India and JSW Steel, while losers included Infosys, Adani Ports, Sun Pharma, Axis Bank and HDFC Life.

Sectorally, IT, media, pharma down 0.5% each, while Energy, PSU Bank, Consumer Durables, Infra, Auto, Oil & Gas up 1-4.6 percent.

Among individual stocks, Affle 3i gained 12% after its Israel-based step-down subsidiary announced plans to acquire all outstanding shares of Perion Network. NCC advanced 4.5% after receiving eight additional orders worth Rs 1,862.45 crore during October, while Granules India slipped 2% after the USFDA concluded an inspection at its Gagillapur facility with 11 observations.

NTPC gained more than 2% on the back of better earnings. Maruti Suzuki India, Hyundai Motor India, Force Motors and SML Mahindra advanced 1-4% on strong October sales numbers. Coal India added 4% after monthly coal supplies crossed the 70-million-tonne mark for the first time, while Krishna Institute of Medical Sciences rose 2% after its subsidiary doubled its bed capacity.

Among others, Bank of Baroda gained 3% following better Q2 earnings, while Ramkrishna Forgings advanced 7% after returning to profitability in the September quarter. Dixon Technologies surged 12% despite a 48.7% decline in Q2 net profit, while Motherson Sumi Wiring gained 11% after reporting a 35% rise in net profit.

The Indian rupee pared some of its intraday gains but ended marginally higher at 94.90 against the US dollar on Monday, compared with its previous close of 94.95.

More than 100 stocks touched 52-week high, including Stocks of Indegene, Leela Palaces, Coforge, Indian Hotels, Sona BLW, Eternal, Ather Energy, Kotak Mahindra Bank, Piramal Pharma, Acutaas Chemicals, Zydus Lifesciences and Laurus Labs, among others.

On the other hand, nearly 200 stocks touched 52-week low, including IGL, PB Fintech, Latent View Analytics, Sarda Energy, JK Lakshmi Cement, Atul, Aadhar Housing Finance, GMDC, Muthoot Finance, Bharat Dynamics, JBM Auto, RailTel, IRB Infrastructure and Intellect Design Arena., among others.