Sensex, the 30-share BSE index, skyrocketed 1,233.25 points or 1.66 per cent to close at 75,692.78. Nifty settled at 23,440.80, up 387.70 points or 1.68 per cent. A rally of over 11 per cent in Reliance Industries shares after the conglomerate posted record earnings for the second quarter of this fiscal year (Q2 FY27) emerged as a key trigger behind today's rally, on top of other factors.
"Indian equity markets ended higher, buoyed by strong buying in heavyweight stocks, particularly Reliance Industries, which surged more than 11% and lent significant support to the benchmark indices. A sharp pullback in crude oil prices provided an additional tailwind, easing concerns over energy costs and offering some relief on the macroeconomic front," said Pomudi R, CEO of Enrich Money.
Key Factors Behind Market Rally Today
1. Reliance Share Price
Reliance Industries share price closed at Rs 1,299, up 11.64 per cent on BSE. The rally was seen after Mukesh Ambani-led conglomerate posted a record quarterly profit of Rs 29,550 crore for the second quarter of the current financial year (Q2 FY26), registering a surge of 33.8 per cent year-on-year (YoY).
2. Ease In Crude Rates
Crude prices took a sharp decline in the past two days after surging to over $117 per barrel last week. Last seen, Brent Crude was down 4.47 per cent or $5.07 to $108.4 per barrel.
3. Foreign Fund Inflow
Foreign Institutional Investors (FIIs) returned as buyers in the last trading session as they bought equities worth Rs 3,598.54 crore on Friday, according to exchange data.
4. Firm Cues In Asian Market
Major Asian markets closed in green. South Korea's Kospi, Japan's 225 index, Shanghai's SSE Composite index and Hong Kong's Hang Seng index were quoted higher.
Meanwhile, US markets ended in red on Friday.
Top Gainers And Losers
From the Sensex Basket..
Top Gainers: Reliance Industries, Tata Steel, Ultratech Cement, SBI, NTPC, Maruti, Bajaj Finance, T&T, BEL
Top Losers: Infosys, Kotak bank, ICICI Bank, And Axis Bank