Closing Bell: Sensex Surges 1,200 Points, Nifty 50 Closes Above 23,800 as FMCG and Banking Stocks Rally

Market Update at 04:00 PM: Indian benchmark equity indices continued their upward momentum on Tuesday, November 3, 2026, extending their recovery for the fourth consecutive trading session. Lower crude oil prices, improving September quarter earnings and renewed foreign institutional investor (FII) participation supported buying across several Large-Cap stocks.

At the close, the Nifty 50 advanced 370.05 points to settle at 23,810.85, while the BSE Sensex surged more than 1,200 points, or 1.62 per cent, to close at 76,917.85. The rally followed Monday's strong gains of 1.68 per cent in the Nifty 50 and 1.66 per cent in the Sensex.

Crude oil prices remained a major factor supporting Indian equities on Tuesday, following a sharp correction in international energy markets. Brent crude traded near USD 105 per barrel after declining approximately 7 per cent in the previous session. The correction followed renewed hopes of diplomatic progress towards ending the conflict involving Iran, easing concerns over energy supply disruptions and inflationary pressures.

Another factor supporting market sentiment was the return of foreign institutional investors, who stepped up purchases of Indian equities in recent sessions. On November 2, foreign investors purchased shares worth approximately Rs 3,115 crore, extending the improvement in foreign fund flows. Their renewed participation provided additional support to heavyweight Banking and financial stocks.

Buying interest extended beyond heavyweight stocks, although midcap and smallcap indices recorded relatively modest gains compared with the benchmark indices. At the close, the Nifty Midcap 100 index advanced 1.06 per cent, while the Nifty Smallcap 100 gained 0.31 per cent.

FMCG, financial services and realty stocks emerged as the leading sectors during Tuesday's trading session. The Nifty FMCG index gained 3.65 per cent, followed by the Nifty Realty index at 2.33 per cent, Nifty Financial Services at 1.84 per cent and Nifty Auto at 1.71 per cent. Bank Nifty also advanced 0.98 per cent.

However, some sectoral indices remained under pressure. The Nifty PSU Bank index declined 1.27 per cent, while the Nifty Metal and Nifty Energy indices slipped 0.14 per cent and 0.11 per cent, respectively. The Nifty IT index also remained relatively subdued but managed to close 0.24 per cent higher.

Among individual stocks, Marico attracted buying interest following its September quarter results, which reported a 31 per cent rise in profit. The stock gained approximately 10 per cent at the close. HDFC Bank advanced 3.64 per cent, supported by buying interest in heavyweight financial stocks. Asian Paints also gained approximately 3.99 per cent, supported by the decline in crude oil prices.

In terms of Nifty 50 index contribution, HDFC Bank emerged as the leading positive contributor, adding 85.78 points to the index. ICICI Bank contributed 58.35 points, while Bharti Airtel added 51.26 points.

On the other hand, SBI was the biggest drag among the major contributors, reducing the index by 15.17 points. Infosys weighed on the index by 10 points, while Power Grid Corporation contributed negatively by 8.11 points.

Market breadth remained positive on Tuesday, November 3, 2026, with advancing stocks outnumbering declining stocks. Of the 3,713 stocks traded, 2,127 advanced, while 1,477 declined and 109 remained unchanged. A total of 57 stocks touched their 52-week highs, compared with 94 stocks hitting their 52-week lows. Additionally, 136 stocks hit their Upper Circuit limits, while 101 stocks hit Lower Circuit limits during the session.

Market Update at 02:30 PM: The Indian equity market extended its gains on November 3, with the Nifty 50 and the Sensex trading higher, supported by buying interest in FMCG and realty stocks. Weakness in energy prices and the unwinding of the global AI trade also influenced market sentiment.

As of 2:00 PM, the BSE Sensex surged 917.13 points, or 1.21 per cent, to 76,609.91. The NSE Nifty 50 gained 267.50 points, or 1.14 per cent, to trade at 23,708.30.

Among the Nifty 50 constituents, InterGlobe Aviation, Shriram Finance and Nestle India emerged as the Top Gainers, leading the benchmark index higher.

In the broader markets, buying interest was also evident, with the Nifty MidCap index rising 0.82 per cent and the Nifty SmallCap index advancing 0.55 per cent.

Sectorally, the Nifty FMCG and Nifty Realty indices emerged as the top-performing sectors, recording the highest gains. On the other hand, the Nifty IT and Nifty Metal indices were the biggest laggards, declining amid selling pressure.

Market Update at 12:15: The Indian equity markets traded higher on November 3, with the Nifty 50 and the Sensex advancing as FMCG, chemical and IT shares gained amid the unwinding of AI-related trades in global markets.

As of 12:00 PM, the BSE Sensex surged 952.83 points, or 1.26 per cent, to 76,645.61. The NSE Nifty 50 gained 251.30 points, or 1.07 per cent, to 23,692.10.

Among the Nifty 50 constituents, InterGlobe Aviation, Shriram Finance and Nestle India emerged as the top gainers.

In the broader markets, the Nifty MidCap 100 advanced 0.68 per cent, while the Nifty SmallCap 100 gained 0.42 per cent, indicating positive sentiment across market capitalisations.

Sector-wise, the Nifty FMCG index recorded the highest gains. On the other hand, the Nifty Pharma and Nifty Healthcare indices were the top sectoral laggards.

Market Update at 09:30 AM: The Indian stock market opened on a positive note on November 3, with the Nifty 50 and the Sensex advancing as FMCG, chemical and IT shares gained amid an unwinding of AI-related trades in global markets.

As of 9:19 AM, the Sensex surged 553.17 points or 0.73 per cent to 76,245.95, while the Nifty 50 gained 132.70 points or 0.57 per cent to 23,568.95. InterGlobe Aviation, Shriram Finance and Nestle India were among the top gainers in the Nifty 50.

Among sectoral indices, the Nifty FMCG index emerged as the top gainer. On the other hand, the Nifty Pharma and Nifty Healthcare indices were among the biggest decliners.

In the primary market, the initial public offer (IPO) of Vedant Poly Fabs will enter its second day of subscription. The company aims to raise Rs 56.68 crore through the public issue.

Meanwhile, the IPOs of Johnsoncab Electricals, HGS (India), Vectras Enprocon and Maxwell Engineering Solutions will enter their final day of subscription today.

Pre-Market Update at 7:45 AM: Indian equity markets to enter Tuesday's session on a positive note after a strong rally on Monday, November 2. The Nifty 50 surged 388 points, or 1.68 per cent, to close at 23,440.80, while the Sensex gained 1,233 points, or 1.66 per cent, to settle at 75,692.78. The rally was led by Reliance Industries, while falling crude oil prices provided additional support. However, weakness in U.S. technology stocks and geopolitical uncertainty could limit gains. The Nifty 50 faces an important resistance zone between 23,500 and 23,600.

GIFT Nifty was last quoted at 23,514 up by 114 points from previous close, compared with the Nifty 50's Monday closing level of 23,440.80, indicating a premium of 74 points, and a positive opening bias. 

U.S. equity markets ended Monday's session on a mixed note as weakness in technology and artificial intelligence-related stocks offset gains elsewhere. The Dow Jones Industrial Average gained 0.41 per cent to close at 51,983.98, while the S&P 500 declined 0.51 per cent to 7,541.40. The Nasdaq Composite fell 1.07 per cent to settle at 25,164.32. Technology stocks faced pressure amid concerns about rising AI infrastructure expenditure, with Oracle, Intel and other Semiconductor-related companies declining. The U.S. midterm elections on November 3 also remained an important global event.

Asian markets recorded mixed performances in their latest completed sessions. Japan's Nikkei 225 declined 0.33 per cent to 63,081.86, while Hong Kong's Hang Seng gained 0.42 per cent to 23,393.32. China's Shanghai Composite advanced 1.08 per cent to 3,638.03, and South Korea's Kospi surged 2.24 per cent to 5,859.08. European markets ended Monday higher, with the FTSE 100 gaining 0.29 per cent, Germany's DAX advancing 0.63 per cent and France's CAC 40 rising 0.98 per cent. These are November 2 closing figures, not verified November 3 Intraday levels.

Renewed diplomatic engagement involving the U.S. and Iran reduced the geopolitical risk premium in crude oil prices. Brent crude settled at USD 104.77 per barrel, down 7.6 per cent, while U.S. WTI crude declined 7.4 per cent to USD 96.46 on November 2. Lower crude prices could benefit Indian oil marketing companies, aviation operators and paint manufacturers through reduced input costs. However, the benefit for oil marketing companies will also depend on retail fuel pricing and inventory effects.

The Indian rupee closed at Rs 94.84 against the U.S. dollar on Monday, weakening 8 paise from Friday's closing level of Rs 94.76. It touched an intraday low of Rs 95.04 before recovering some losses. The latest accessible market snapshot placed the U.S. Dollar Index around 101.67 and the U.S. 10-year Treasury yield around 4.90 per cent. Higher U.S. yields generally increase competition for emerging-market assets and can influence foreign institutional investment flows. Verified November 3 international gold and silver quotations and corresponding MCX prices were unavailable at the time of preparation.

In the domestic market, the Nifty 50 closed at 23,440.80, with an intraday low of 23,207.05. The Sensex settled at 75,692.78, after moving between 74,978.12 and 75,692.78. Bank Nifty gained 0.58 per cent to close at 55,002.20, with an intraday range of 54,582.00 to 55,046.35.

Foreign institutional investors (FIIs) purchased equities worth a net Rs 3,114.68 crore on November 2, while domestic institutional investors (DIIs) recorded net selling of Rs 392.20 crore, according to provisional cash-market figures. FIIs remained net buyers for a second consecutive session. India VIX closed at 15.50, rising 1.31 per cent, indicating that volatility expectations remained elevated despite the market rally.

For Tuesday's session, Nifty 50 support levels are placed at 23,285 and 23,129, while resistance levels stand at 23,519 and 23,597. Bank Nifty support is placed at 54,707 and 54,413, with resistance at 55,172 and 55,341. These are calculated pivot levels.

On the corporate calendar, SBI, Bajaj Finserv, Solar Industries and Emcure Pharmaceuticals are scheduled to announce their September-quarter results. IPO subscriptions are scheduled to close for four SME issues, while BLS Polymers and SFC Environmental Technologies have scheduled listings. No major CPI, IIP or GDP release is scheduled for November 3.

SEBI issued regulatory frameworks on November 2 covering depository receipts for REITs and InvITs, along with provisions relating to private listed InvIT offers for sale. These developments are broadly neutral to positive for market infrastructure and investment trusts.

Reliance Industries reported a 40.6 per cent increase in quarterly profit to Rs 25,548 crore, supported by its refining, petrochemicals and Jio businesses. Its shares surged 11.6 per cent on Monday, making follow-through buying important. ITC reported September-quarter revenue of Rs 19,114.37 crore and net profit of Rs 4,508.79 crore. Petronet LNG reported quarterly profit of Rs 1,235 crore, compared with Rs 806 crore a year earlier, registering growth of approximately 53 per cent. Marico also remains in focus following its September-quarter business updates.

State Bank of India and Bajaj Finserv are scheduled to announce their Q2 FY27 results on Tuesday, with investors tracking banking, lending and insurance performance. Solar Industries is also scheduled to report its September-quarter results, with attention on Defence and explosives demand.

Aviation, paints and oil marketing companies could benefit from lower crude prices through reduced operating and raw-material costs. Information technology stocks may remain under pressure following weakness in U.S. technology shares. Banking and financial services stocks could witness mixed performance, as positive foreign institutional flows offer support, although Bank Nifty underperformed the broader market during Monday's rally.

Technically, the Nifty 50 formed a strong bullish candle on Monday, closing at its session high and moving above its 50-day exponential moving average. The immediate resistance zone is between 23,500 and 23,600. A sustained breakout above this zone could extend the recovery, while failure to hold 23,285 may expose the index to the 23,200 to 23,130 support region. Global developments, crude oil movements, institutional activity and opening volatility will remain important factors for Tuesday's session.

Disclaimer: The article is for informational purposes only and not investment advice.

What’s your strategy for today’s volatile market? Share in the comments!