Stock Market Open Report Today, November 2, 2026: Sensex Jumps Over 760 pts, Nifty Above 23,250 As Oil Eases, Reliance & Jio Earnings Lift Mood

Mumbai, November 2: The Sensex and Nifty 50 opened sharply higher on Monday and were headed for a third straight session of gains, as easing but still elevated oil prices, strong corporate earnings led by Reliance Industries and Jio Platforms, and progress in Iran-Qatar talks to end the war lifted investor sentiment. 

At 9.24 am, the BSE Sensex was at 75,222.74, up 763.21 points or 1.02 per cent from its previous close of 74,459.53. The NSE Nifty 50 was at 23,259.15, higher by 206.05 points or 0.89 per cent from its previous close of 23,053.10. The index opened at 23,222.30, a gap-up of 169.20 points, and has traded between 23,211.80 and 23,292.55, as per NSE data. Nifty Bank was up 0.48 per cent at 54,949.50. 

Oil prices eased, with Brent crude down 2.70 per cent at $110.37 per barrel, though it remains well above $100. Reliance Industries (RELIANCE) jumped 4.28 per cent to Rs 1,214.70 after its earnings and was the top Nifty 50 gainer. Nifty IT, which led Friday’s recovery, rose 0.56 per cent to 32,790.00. 

Hopes of a diplomatic breakthrough also helped. Iranian negotiators were in Doha on Sunday for a third consecutive day of talks with Qatari mediators on a proposal to reopen the Strait of Hormuz within two days of a deal with Washington. 

On the downside, Wall Street ended sharply lower on Friday in a tech-led sell-off, with the Nasdaq down 2.86 per cent and the VIX up 12.91 per cent at 19.42. Asian markets were mixed on Monday morning, with Singapore down 1.43 per cent and Australia down 0.64 per cent. India VIX rose 1.43 per cent to 15.52 from its previous close of 15.30. 

Traders will look to the US manufacturing activity data due later on Monday and the non-farm payrolls report on Friday for fresh signs of economic momentum and the direction of Federal Reserve policy. Markets now price in a 72 per cent probability of a 25-basis-point rate hike in December. 

Gainers & Losers 

Reliance Industries (RELIANCE) led the gainers, rising 4.28 per cent to a last traded price (LTP) of Rs 1,214.70 from its previous close of Rs 1,164.90, a gain of Rs 49.80. Tata Steel (TATASTEEL) advanced 3.54 per cent to Rs 173.54 from Rs 167.60, up Rs 5.94, while NTPC (NTPC) gained 3.10 per cent to Rs 326.05 from Rs 316.25, a rise of Rs 9.80. Max Healthcare Institute (MAXHEALTH) rose 2.91 per cent to Rs 885.00 from Rs 860.00, up Rs 25.00, and Maruti Suzuki India (MARUTI) added 2.59 per cent to Rs 11,692.00 from Rs 11,397.00, a gain of Rs 295.00. 

On the other side, Sun Pharmaceutical Industries (SUNPHARMA) was the top loser, down 1.46 per cent at Rs 1,751.80 against Rs 1,777.70, a fall of Rs 25.90. Apollo Hospitals Enterprise (APOLLOHOSP) slipped 1.00 per cent to Rs 8,363.50 from Rs 8,448.00, down Rs 84.50, while BSE (BSE) declined 0.18 per cent to Rs 3,504.20 from Rs 3,510.40, a drop of Rs 6.20. Tech Mahindra (TECHM) lost 0.17 per cent to Rs 1,787.70 from Rs 1,790.80, down Rs 3.10, and HDFC Bank (HDFCBANK) eased 0.12 per cent to Rs 692.00 from Rs 692.80, a fall of Rs 0.80. 

Broad Markets & Sectoral Indices 

No broad-market index was in the red, with the strongest gains in Nifty Next 50, up 1.16 per cent at 68,491.60, Nifty 100, up 0.97 per cent at 24,203.50, and Nifty 200, up 0.93 per cent at 13,306.00. Smaller companies lagged the rally, with Nifty Smallcap 50 up just 0.16 per cent at 9,378.55, Nifty Smallcap 100 higher by 0.24 per cent at 18,507.60 and Nifty Smallcap 250 up 0.72 per cent at 16,885.35. 

Among sectoral indices, Nifty Oil & Gas surged 2.32 per cent to 10,542.70, Nifty PSU Bank gained 1.57 per cent to 8,364.25 and Nifty Metal rose 1.51 per cent to 11,962.90. Only two sectoral indices were in the red, with Nifty Media down 0.07 per cent at 1,630.15 and Nifty Pharma down 0.05 per cent at 27,111.75, while Nifty Private Bank was nearly flat, up 0.07 per cent at 27,071.95. 

Oil Prices 

Oil prices eased on Monday but stayed at an elevated level while Iran and Qatari mediators continued talks on reopening the Strait of Hormuz. Brent crude fell $3.06 or 2.70 per cent to $110.37 per barrel, while West Texas Intermediate (WTI) dropped $3.00 or 2.88 per cent to $101.12, staying above the $100 mark. Murban crude was unchanged at $114.81, even as gasoline fell 2.65 per cent to $3.073 and heating oil lost 2.00 per cent to $4.583. Natural gas was steady at $2.898. 

Asian Markets 

Asian stocks were mixed on Monday morning after Friday’s tech-led sell-off on Wall Street. South Korea’s Kospi gained 1.07 per cent to 5,791.87, Shenzhen rose 0.77 per cent to 10,916.75, Shanghai added 0.32 per cent to 3,610.70 and Hong Kong’s Hang Seng edged up 0.12 per cent to 23,322.06. On the other side, Singapore’s Straits Times fell 1.43 per cent to 5,300.03, New Zealand’s NZX 50 lost 0.94 per cent to 13,667.04, Taiwan’s benchmark slipped 0.76 per cent to 44,868.64, Australia’s ASX 200 declined 0.64 per cent to 8,851.10 and Japan’s Nikkei eased 0.31 per cent to 63,095.11. 

US Markets 

Wall Street ended sharply lower on Friday, with the tech-heavy Nasdaq falling 2.86 per cent to 25,437.00 and the Nasdaq 100 sliding 3.46 per cent to 28,384.85. The S&P 500 lost 1.82 per cent to 7,580.07, the Dow Jones Industrial Average shed 1.09 per cent to 51,770.31 and the Russell 2000 declined 1.66 per cent to 2,811.84. The VIX jumped 12.91 per cent to 19.42, though the Dow Jones Transportation Average rose 0.47 per cent to 20,329.33 and utilities gained 0.66 per cent to 1,111.50. 

Middle East Conflict 

Iranian negotiators were in Doha on Sunday for a third consecutive day of talks with Qatari mediators aimed at ending the US-Israeli war on Iran, an official briefed on the discussions told Reuters. Foreign Minister Abbas Araqchi said the talks were progressing and that discussions on a two-day proposal to reopen the Strait of Hormuz were continuing, but that no final conclusion had been reached. President Donald Trump has said the US will not launch new attacks on Iran before the November 3 midterm elections and that talks have been productive, though he has not ruled out military action afterwards, while Secretary of State Marco Rubio said Trump has not decided on new strikes but would prefer a diplomatic solution. Supreme Leader Ayatollah Mojtaba Khamenei ordered the armed forces on Saturday to be prepared for any attack, and Tehran has repeatedly said it would respond to new attacks by striking US and Israeli targets in neighbouring countries as the eight-month-old war continues to disrupt global oil supplies. 

Friday’s Close 

The BSE Sensex advanced 308.49 points or 0.42 per cent to close at 74,459.53, while the NSE Nifty 50 gained 116.35 points or 0.51 per cent to settle at 23,053.10, reclaiming the 23,000 mark and extending gains for a second consecutive session. The benchmarks recovered from a muted start, with a rally in IT stocks and post-results gains in heavyweights such as Trent and InterGlobe Aviation, as the Nifty IT index climbed 2.3 per cent and the Nifty Pharma index gained 1.8 per cent. The recovery remained concentrated in frontline stocks, with the Nifty Midcap index down 0.8 per cent and the Nifty Smallcap index down 1.8 per cent, while breadth was distinctly negative at 1,311 advancing, 2,862 declining and 170 unchanged. Consumer durables, PSU Bank, energy and media indices declined more than 1 per cent each, as elevated Brent crude prices and geopolitical uncertainty remained key risks. 

Sources

• NSE
• BSE
• OilPrice.com