Nifty holds near September highs at midday; Reliance surges 7.4%, IT stocks drag
BusinessLine 1 hr ago·2 Nov 2026, 7:49 am
Indian equity benchmarks held firm near their September highs during midday trading. The market saw broad-based buying activity, with the Nifty 50 index maintaining its support level. However, the rally was not uniform, as specific sectors experienced different performance trends.
The energy sector emerged as a key driver, outperforming the broader market. This strength was linked to investor assessments of global market conditions, including weakness abroad and fluctuations in crude oil prices. In contrast, the information technology (IT) sector faced selling pressure, acting as a drag on the overall index.
For investors, the current market action highlights a shift in sectoral leadership. The resilience of the index near its recent highs suggests underlying strength, but the divergence between energy and IT stocks indicates that volatility remains a key factor to monitor. Investors should keep a close watch on global cues and crude oil price movements for further direction.
Excerpt from BusinessLine
Broad-based buying lifted Indian equities, with energy stocks outperforming as investors assessed global market weakness, crude oil prices and technical levels Markets held onto strong gains at midday on Monday, November 2, 2026, with the BSE Sensex trading at 75,198.92, up 739.39 points or 0.99 per cent, as of 12.55…Read the original at BusinessLine
Key takeaways
- Category: Stocks.
- AI reads the tone as positive (potentially bullish) for the stock.
- Flagged as a high-impact, market-moving story.
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