The Indian equity benchmark indices staged a bull run on Monday, November 2, led by strong gains in oil and gas stocks amid easing crude oil prices. A rally in heavyweight Reliance Industries shares further lifted market sentiment. At close, the S&P BSE SENSEX settled at 75,692.78 level, soaring 1,233.25 points, or 1.66%, while the NSE's NIFTY50 index gained 387.70 points, or 1.68%, to end at 23,440.80 level.

Among sectors, NIFTY Oil & Gas rose 5.95%, NIFTY Metal gained 3.21%, NIFTY Consumer Durables advanced 2.7%, NIFTY PSU Bank increased 1.36% and Auto climbed 1.33%, leading the rally. Global crude oil prices were trading at $108 per barrel on Monday, as energy prices retracted from their previous week's highs of $117 per barrel. Shares of oil-to-telecom conglomerate Reliance Industries surged as it posted a 41% year-on-year surge in its consolidated net profit attributable to owners of the company to 25,548 crore in the second quarter of the 2026-27 financial year.

The YoY growth in profit was supported by a strong increase in revenues from the Oil to Chemicals O2C segment in the period. Further, shares of automobile companies gained following the release of October sales data. Buoyed by robust festive demand, domestic passenger vehicle dispatches crossed the record 5-lakh mark in October, with leading automakers such as Maruti Suzuki, Hyundai and M&M reporting their highest-ever monthly sales.

Last week, foreign investors infused around 6,300 crore into the equity market, while the cumulative FPI outflows from Indian equities in 2026 have reached 2.95 lakh crore. Globally, stocks in Asia closed mixed on Monday amid falling crude oil prices and gains in technology shares. Japan's Nikkei fell 0.12%, Singapore's Straits Times declined 1.37%, while Hong Kong's Hang Seng gained 0.26%, and China's Shanghai Composite rose 0.92%. South Korea's Kospi index rallied to close 2.19% higher.

Here are the key developments of Monday's session that you need to know. Market statistics indicate that as many as 3,713 stocks traded on the NSE on Monday. Out of this, 2,445 advanced and 1,164 stocks declined, while 104 scrips remained unchanged, indicating that the market breadth was in favour of advances. A total of 57 stocks hit their 52-week highs, while 143 stocks touched their one-year lows. Besides, 116 stocks hit their upper circuit limits, and 111 touched their lower circuit bands on Monday. The market capitalisation of NSE-listed firms stood at 478.39 lakh crore at the close of the session. India VIX, the volatility gauge, stood at 15.51 levels, rising 1.37%.

On the NIFTY50 index, 38 stocks closed higher, while 12 declined by the end of the session. Reliance Industries took the lead among the gainers' pack, soaring 11.6%. Tata Steel (5.83%), JSW Steel (5.13%), Shriram Finance (4.88%) and Coal India (4.88%) were the other top gainers. On the other hand, Infosys (-2.03%), ICICI Bank (-0.76%), Dr. Reddy's Laboratories (-0.74%), Kotak Mahindra Bank (-0.7%) and Axis Bank (-0.66%) were among the top losers on the 50-share index.