{
  "id": 17787633,
  "title": "Sensex at 3-month high on Reliance rally, positive earnings",
  "url": "https://urgent.news/2026/11/02/sensex-at-3-month-high-on-reliance-rally-positive-earnings",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-11-02T11:15:22.000Z",
  "source": {
    "name": "The Indian Express",
    "slug": "the-indian-express",
    "url": "https://indianexpress.com/article/business/market/sensex-three-month-high-reliance-rally-positive-earnings-10947378/"
  },
  "original_language": "en",
  "account": "The Sensex index experienced a notable surge of 1.7% on Monday, reaching its highest level in nearly three months. This upward movement can be attributed to Reliance Industries' impressive earnings for the July-September quarter, which surpassed expectations. In addition, geopolitical tensions in West Asia showed a slight relaxation, and positive macroeconomic data added to the overall positive sentiment in the market. Consequently, the Sensex closed the session at a record high of 75,692.78, marking a significant increase of 1,233.25 points or 1.7%. The National Stock Exchange's Nifty 50 index also followed suit, closing at 23,440.80, its highest level in five weeks. Reliance Industries witnessed a substantial rally, with its shares surging nearly 12% after the company reported record Q2 revenues and profits. This robust performance was supported across all verticals, contributing to the bullish market sentiment. Notably, Reliance Industries holds an 8% weight in the Nifty 50 index, the third highest after HDFC Bank and ICICI Bank, which further amplified the impact on benchmark indices. The overall market sentiment remained optimistic, with around 65% of NSE-traded stocks ending the session in green. Various sectors, including metals, oil and gas, consumer durables, and automobiles, also witnessed significant gains. Despite being the worst-performing emerging market so far this year, India's market showed resilience, gaining around 2% during October, outperforming the US, South Korea, and Taiwan. Positive earnings performances from major players such as HDFC Bank, ICICI Bank, L&T, and Reliance Industries played a crucial role in lifting market sentiment. IT, although expected to face challenges due to AI adoption, showcased a robust performance. Mid- and small-cap companies also delivered strong earnings, indicating a positive trend across various market segments. Strong GST collections, which increased by 23% year-on-year in October, further reinforced the optimism about the country's economic growth. Analysts highlighted the combination of these factors, along with the absence of negative surprises and strong earnings performances, as key drivers behind the recent market rally. However, foreign investors continued to exit Indian equities, selling stocks worth $3.6 billion during the month. While the market's performance in October was positive, the recent slump in crude oil prices to around $110 per barrel from a six-month high of $118 per barrel did not seem to significantly impact the market, as analysts attributed the rally to hopes of improved peace efforts between the US and Iran.",
  "summary": null,
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}