Reliance, metal stocks power Sensex, Nifty rally; IT stocks decline
Fortune India 1 hr ago·2 Nov 2026, 11:02 am
India’s benchmark indices, the Sensex and Nifty, posted gains on Tuesday as Reliance Industries and a group of metal stocks lifted the market. The energy and metals rally offset a pull‑back in information‑technology shares, which fell modestly.
The move matters because Reliance’s performance often reflects broader economic sentiment, while metal stocks are sensitive to global commodity prices and domestic infrastructure spending. A weaker IT segment suggests investors are rotating out of growth‑oriented names into more defensive or commodity‑linked stocks.
Investors will likely keep an eye on upcoming earnings reports from the metal and energy sectors, any policy signals from the government or RBI that could affect commodity demand, and the next set of IT results to see if the sector can regain momentum.
Excerpt from Fortune India
Indian equity benchmarks rallied nearly 1.7% on Monday, extending their gains to a third consecutive session, as a sharp surge in Reliance Reliance, metal stocks power Sensex, Nifty rally; IT stocks decline Indian equity benchmarks rallied nearly 1.7% on Monday, extending their gains to a third consecutive session, as…Read the original at Fortune India
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