Sensex and Nifty rally as Reliance Industries shares jump 11 per cent
Indian equity benchmarks rose on Monday as easing crude oil prices improved market sentiment.
Indian equity benchmarks rose on Monday, November 2, as the Sensex climbed 1,233.25 points, or 1.66 per cent, to close at 75,692.78 points. The Nifty ended 387.70 points, or 1.68 per cent, higher at 23,440.80 points, according to the Financial Express.
Reliance Industries saw its share price increase by more than 11 per cent following the announcement of its second quarter financial year 2027 (Q2FY27) results. Market sentiment improved as crude oil prices eased.
Several companies will remain in focus on November 3, including ITC, which reported a 20.1 per cent year-on-year decline in net profit to Rs 4,137 crore. While its revenue excluding excise duty grew 1.8 per cent to Rs 18,401 crore, its EBITDA fell 17.5 per cent to Rs 5,160 crore.
Petronet LNG reported a standalone net profit of Rs 1,235.4 crore for Q2FY27, representing a 9.1 per cent sequential increase. Its revenue from operations grew 29.6 per cent sequentially to Rs 7,200 crore, though its EBITDA margin fell to 23 per cent from 28 per cent.
NMDC provided a quarterly business update, noting that its October iron ore production reached 5.04 million tonnes, an 18 per cent year-on-year rise. However, its sales for the month dropped by approximately 12 per cent to 3.44 million tonnes.
Container Corporation of India (CONCOR) recorded a net profit of Rs 353 crore for Q2FY27, a nearly 7 per cent year-on-year decrease. National Aluminium Company (NALCO) shares are also expected to be in focus following its Q2 results.