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Reliance Industries Rally Drives More Than Half of Sensex and Nifty Gains
Reliance Industries shares surged 11.6 percent on November 2, contributing more than half of the gains in the Sensex and Nifty 50. The rally followed the company's record quarterly financial performance, while historical data suggests that strong single-day gains in the stock have often been followed by positive returns for the Nifty over the subsequent month.
By Finblage Editorial Desk
9:45 pm
2 November 2026
Shares of Reliance Industries surged 11.6 percent to close at Rs 1,299 on November 2, marking their largest intraday gain in more than six years. The rally added more than Rs 2 lakh crore to the company's market capitalisation, taking it to a record Rs 17.5 lakh crore.
The sharp rise in Reliance Industries shares played a major role in lifting the benchmark equity indices. The Nifty 50 gained 388 points, or 1.68 percent, while the Sensex advanced 1,233 points, or 1.66 percent.
Reliance Industries contributed 198 points to the Nifty 50's total gain and 762 points to the Sensex's advance. This means the stock accounted for more than half of the gains in both benchmark indices during the session.
The rally followed Reliance Industries' strongest-ever quarterly financial performance for the July-September quarter, supported by robust growth across its oil-to-chemicals, digital services and retail businesses.
Consolidated revenue increased 28 percent year-on-year to a record Rs 3.62 lakh crore, while EBITDA rose 24 percent to Rs 62,409 crore. Net profit surged 34 percent to Rs 29,550 crore, marking the company's highest-ever quarterly profit.
Historical market data indicates that strong single-session gains in Reliance Industries have often been followed by positive returns for the Nifty 50. In the last 20 instances when the stock closed at least 5 percent higher in a single trading session, the benchmark index delivered a median return of 3.4 percent over the subsequent 21 trading sessions.
The Nifty 50 closed higher in 17 of those 20 instances. However, historical performance does not guarantee similar returns in the future.
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