Stock Market Today: Sensex Gains 800 Points, Nifty Near 23,350; RIL Zooms 6%; ITC Q2 Eyed

Indian benchmark indices, the Nifty 50 and the Sensex, opened higher on Monday, November 2, supported by positive domestic cues, including upbeat October auto sales, strong earnings from Reliance Industries, and easing crude oil prices, despite mixed global market signals.

The BSE Sensex opened at 75,178.24 against previous close of 74,459.53, while the NSE Nifty 50 started the session at 23,222.30 against its previous close of 23,053.10.

Analysts believe Indian equity markets may attempt to extend their recent recovery, with investors drawing some encouragement from renewed diplomatic efforts to de-escalate the US-Iran conflict.

"Discussions involving Iranian officials and Qatari mediators have raised hopes of a possible breakthrough that could ease supply concerns and improve the outlook for global energy markets. Any tangible progress on this front could help reduce the geopolitical risk premium in crude oil and offer near-term support to domestic equities. However, WTI crude continues to trade near $102 a barrel, while Brent remains above $110, keeping energy costs elevated and broader macroeconomic concerns in focus," said Ponmudi R, CEO of Enrich Money.