Reliance Rally Lifts Sensex 1.66%, Nifty 1.68%

Indian stocks closed sharply higher on November 2, with the Sensex rising 1.66% and the Nifty gaining 1.68% as Reliance Industries shares rallied and crude oil prices fell. Both benchmarks ended at their session highs, extending a three-session advance. The 30-stock Sensex added 1,233.25 points to close at 75,692.78. The Nifty 50 rose 387.70 points to 23,440.80. Reliance gained 11.64% after reporting quarterly profit of ₹29,550 crore for July-September, up 33.8% from a year earlier. One market report estimated that the company accounted for about 61% of the Sensex advance and nearly half of the Nifty’s rise. Brent crude traded around $108.70 a barrel during the session, down 4.46%, according to reported market data. The decline followed hopes of progress in US-Iran talks, easing concerns about energy costs for oil-importing economies such as India. Lower oil prices were cited alongside foreign fund buying and positive Asian market trends as supports for sentiment, though their individual effects on the rally were not established. Trading was mixed beyond the headline indices. Tata Steel and JSW Steel were among the gainers, while information technology and media shares...