Mumbai, November 2, 2026 (Yes Punjab News)
Indian stock markets rallied for the third consecutive session on Monday as hopes of progress in US-Iran talks pushed crude oil prices lower and lifted investor sentiment.
The Sensex surged 1,233.25 points (1.66%) to close at 75,692.78, while the Nifty gained 387.70 points to settle at 23,440.80.
Reliance Industries, Coal India, Tata Steel and JSW Steel led the gains. Oil and gas and metal stocks recorded strong buying, while IT and media shares ended lower.
The Nifty closed above its 50-day Simple Moving Average (SMA), approaching the 23,500 resistance level. Analysts identified 23,250–23,350 as immediate support, with 23,600 as the next potential target if the support holds.
However, broader markets remained weak, with the Nifty MidCap 100 falling 1.19% and the Nifty SmallCap 100 declining 0.71%.
Meanwhile, the rupee gained around 0.12% to trade at 94.90 against the US dollar. The improvement came as WTI crude fell nearly 3% to around $99.70 per barrel, below the $100 mark, while Brent traded below $109.
Analysts expect the rupee to trade in the 94.50–95.25 range.
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