Oil& gas, consumer durables and metal shares advanced while media, IT and private bank shares declined.

As per provisional closing data, the barometer index, the S&P BSE Sensex jumped 1,233.25 points or 1.66% to 75,692.78. The Nifty 50 index surged 387.70 points or 1.68% to 23,440.80.

In the broader market, the Nifty MidCap 150 Index gained 1.25% and the Nifty SmallCap 250 Index added 1.35%.

The market breadth was strong. On the NSE, 2,445 shares rose and 1,164 shares fell. A total of 104 shares were unchanged.

New Listing:

Shares of EAAA India Alternatives were at Rs 1,728 on the BSE, representing a premium of 3.78% as compared with the issue price of Rs 1,665.

The stock debuted at Rs 1,673 on the BSE, a premium of 0.48% over its issue price.

The stock has hit a high of Rs 1,762.55 and a low of Rs 1,600.10. On the BSE, over 4.58 lakh shares of the company were traded in the counter.

IPO Update:.

Bombay Coated & Special Steels received bids for 93,49,64,030 shares as against 1,65,33,012 shares on offer, according to stock exchange data at 15:30 IST on 2 November 2026. The issue was subscribed 56.55 times.

The issue opened for bidding on 29 October 2026 and will close on 2 November 2026. The price band of the IPO is fixed between Rs 78 and 82 per share. An investor can bid for a minimum of 182 equity shares and multiples thereof.

Buzzing Index:

The Nifty Oi& Gas index jumped 5.95% to 10,916.30. The index declined 0.47% in the past trading session.

Reliance Industries (up 11.6%), GAIL (India) (up 5.41%), Castrol India (up 4.52%), Oil & Natural Gas Corpn (up 4.19%), Petronet LNG (up 3.96%), Indian Oil Corporation (up 3.41%), Aegis Vopak Terminals (up 3.39%), Adani Total Gas (up 3.35%), Bharat Petroleum Corporation (up 2.86%) and Chennai Petroleum Corporation (up 2.28%).

Reliance Industries surged 11.6% after the company reported a 40.64% jump in consolidated net profit to Rs 25,548 crore in Q2 FY27 compared with Rs 18,165 crore in Q2 FY26. Gross revenue climbed 27.8% YoY to Rs 3,62,268 crore in Q2 FY27.

Indian Oil Corporation rose 3.41% after the company’s consolidated net profit surged 173.84% to Rs 21,630.03 crore in Q2 FY27 compared with Rs 7,610.45 crore in Q2 FY26. Revenue from operations (excluding excise duty) climbed 39.96% YoY to Rs 2,50,361.04 crore in the quarter ended 30th September 2026.

Stocks in Spotlight:

PC Jeweller fell 3.94% after the Securities and Exchange Board of India (SEBI) issued administrative warning letters to Managing Director Balram Garg and Company Secretary Vijay Panwar. The action relates to the company's failure to maintain a structured digital database for unpublished price-sensitive information linked to a business update disclosed on 3 July 2025.

Zen Technologies surged 7.89% after the company reported a 50.74% year-on-year increase in consolidated net profit to Rs 89.54 crore in Q2 FY27 from Rs 59.40 crore. Sequentially, profit rose 159.8% from Rs 34.46 crore in Q1 FY27. The company reported a 98.8% year-on-year increase in consolidated sales to Rs 345.13 crore in Q2 FY27. Sequentially, sales surged 143.7% from Rs 141.64 crore in Q1 FY27.

Indigo Paints fell 12.79% after the company reported a 46.97% year-on-year decline in consolidated net profit to Rs 13.32 crore in Q2 FY27, reflecting pressure on profitability from higher material costs. Sequentially, net profit declined 67.89% from Rs 41.70 crore in Q1 FY27. Revenue from operations increased 14.96% year on year to Rs 358.75 crore from Rs 312.06 crore. However, revenue declined 2.95% quarter on quarter from Rs 369.67 crore in Q1 FY27.

Global Markets:

Dow futures rose 252 points, signalling a positive opening for US stocks.

European equity benchmarks advanced on Monday as investors assessed corporate earnings, economic data and the interest rate outlook.

Asian equities ended mixed on Monday. Concerns over the sustainability of the artificial intelligence investment boom weighed on technology stocks. The weakness followed a sharp selloff in US technology shares on Friday.

Wall Street ended sharply lower on Friday, 30 October 2026. The Dow Jones Industrial Average fell 572.25 points, or 1.09%, to 51,770.31. The S&P 500 declined 140.32 points, or 1.82%, to 7,580.07. The Nasdaq Composite dropped 747.72 points, or 2.86%, to 25,437. The Nasdaq recorded its steepest single-day decline since 5 June 2026.

Technology and semiconductor stocks led the selloff. Investors remained concerned about rising AI-related spending and companies' ability to generate adequate cash flows from these investments.

Intel was among the biggest drags, with its shares plunging 28.6% on Friday after the chipmaker issued a weaker-than-expected fourth-quarter outlook. The company forecast revenue of $15 billion to $16 billion, against analyst expectations of $17.08 billion. Its adjusted third-quarter earnings of $0.52 per share and revenue of $16.5 billion had exceeded estimates. However, the outlook and concerns over manufacturing constraints, PC demand and cash flow overshadowed the results.

The semiconductor selloff extended to other major companies. Nvidia shares fell 4.2%, AMD declined 10.9% and the semiconductor index lost 7.2%. Sandisk dropped 13%, while Reddit also faced heavy selling. Shares of Amazon declined 1.4% during Friday's session after its quarterly results heightened concerns over the scale of AI infrastructure investment.

Amazon reported third-quarter net sales of $201.9 billion, up 12% year on year, while AWS revenue increased 39.3% to $46 billion. Operating income rose to $28.1 billion from $17.4 billion a year earlier. However, trailing 12-month free cash flow turned negative at $42.4 billion, compared with an inflow of $14.8 billion a year earlier. The company attributed the decline primarily to higher property and equipment spending, largely related to AI investments. Amazon forecast fourth-quarter revenue of $240 billion to $247 billion.

Energy stocks bucked the broader market trend. Exxon Mobil and Chevron rose after reporting third-quarter profits above market expectations, supported by higher refining margins amid disruptions to global fuel supplies. Both companies benefited from stronger downstream earnings as conflict-related disruptions constrained fuel production.

On the economic front, the US Employment Cost Index increased 0.8% in the third quarter of 2026, matching market expectations but easing from 0.9% in the previous quarter. Civilian worker compensation costs rose 0.8% over the three months ended September, while wages and salaries increased 0.7% and benefit costs rose 0.9%. The data indicated a moderation in labour-cost growth. The Chicago PMI fell to 55.3 in October from 58.8 in September, below the market forecast of 56.1.

Brent crude futures fell below $110 a barrel. The pullback followed talks between Iranian and Qatari officials aimed at ending the US-Israeli war on Iran. However, continued attacks on tankers in the Strait of Hormuz remain a supply-side risk.