Reliance rally lifts Nifty and Sensex after record second-quarter profit

What happened

Reliance Industries shares rose nearly 12% after reporting record second-quarter profit, with strength in its oil-to-chemicals and telecom businesses. The Sensex rose 1,232.47 points, or 1.66%, to 75,692, while the Nifty 50 gained 387.70 points, or 1.68%, to 23,440.80.

Why it matters

The rally directly lifted benchmark returns because Reliance helped drive the Nifty’s jump. It may also support near-term market sentiment, though the move was concentrated in one heavyweight and does not establish that gains were broad across the market.

Global impact

No global-market reaction is reported. This is mainly an India-specific earnings event; any wider effect would usually come through local benchmark performance and market sentiment.

How the story broke

1. 2 Nov, 5:24 PM ISTDiwali cheer! Mukesh Ambani gets $8.5 billion richer in a day as RIL shares soarEconomic Times
2. 2 Nov, 5:24 PM ISTMassive surge! Reliance Industries shares up 12% after Q2; add ₹2 lakh cr in mcap — when did RIL last rally this much?Mint
3. 2 Nov, 5:30 PM ISTReliance fuels Nifty’s best single-day jump in months; Sensex reclaims 75,600BusinessLine

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