The benchmark equity indices Sensex and Nifty traded higher on Monday as oil prices eased from a six-month high on talks to end the Iran war, while Reliance Industries jumped after reporting stronger-than-expected September-quarter profit, boosting the benchmarks.
The benchmark added 0.93% to 23,267.45, while the Sensex rose 1.06% to 75,247.63 by 9:22 a.m.IST
1) Buying in RIL shares: Reliance Industries Ltd (RIL) shares surged 6 percent, following the company's record Q2 FY27 earnings and bullish outlook from brokerages. The stock emerged as the top gainer and the biggest positive contributor to the Nifty 50 index, while also becoming the most actively traded stock on both the NSE and BSE.
2) Easing crude prices: Brent crude prices fell to $110 per barrel from a six-month high of $118 on Friday, as Iranian and Qatari officials held a third straight day of talks aimed at pushing for a deal to end the US-Israeli war on Iran.
3) Buying by FIIs: Foreign institutional investors bought equities worth Rs 3,598 crore on Friday.