The equity benchmark indices BSE Sensex and NSE Nifty extended their winning streak to a fourth consecutive session on Tuesday (November 3), with the Sensex rising 1,225 points and the Nifty gaining 370 points to close at two-month highs.
The Sensex settled at 76,918, while the Nifty ended at 23,811. The Nifty has gained nearly 5% in four sessions, marking its biggest four-day advance in seven months. The Nifty Bank rose 538 points to 55,540, while the Midcap index gained 613 points to 58,596.
Why did the stock market rise today? 5 key factors
1. HDFC Bank, FMCG stocks lead the rally
Buying in HDFC Bank and FMCG stocks supported the benchmarks. The FMCG index gained 3% following a strong showing by Marico.
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2. Marico surges 9% on Q2 results, higher guidance
Marico shares jumped 9% after the company reported strong Q2 results and raised its FY27 guidance.
3. Capital market stocks rally
Capital market shares advanced, with BSE ending as the top Nifty gainer, up 5%.
4. Reliance Industries recovers
Reliance Industries closed higher, adding nearly ₹2 lakh crore to its market capitalisation over two sessions.
5. Stock-specific moves drive action
MCX gained 8% ahead of its Q2 results, while Lodha Developers advanced 6% despite a cautious outlook. On the other hand, Power Grid fell over 3% following its FY27 outlook. SBI declined 2% as lower operating profit weighed on the stock despite healthy internals.
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Solar Industries ended off its highs after beating Q2 estimates, while its order book declined quarter-on-quarter. Capital goods stocks also closed lower, with GE Vernova T&D emerging as the top loser in the segment.
From the Sensex basket, Nestle India Ltd, Bharti Airtel Ltd, Asian Paints Ltd, ICICI Bank Ltd, UltraTech Cement Ltd and ITC Ltd were the major gainers. Power Grid Corporation of India Ltd, Infosys Ltd, Oil and Natural Gas Corporation Ltd, NTPC Ltd, Tata Steel Ltd and Trent Ltd were the biggest laggards.