Stock market indices Sensex and Nifty opened higher on Monday as oil prices retreated from a six-month high amid talks aimed at ending the Iran war, while Reliance Industries reported a higher-than-expected profit for the September quarter.
At 9:16 on Monday, Sensex was nearly 900 points or 1.19 per cent up and trading at 75,349.07.
GIFT Nifty futures stood at 23,258.5 as of 7:58 am, hinting at a positive start for the benchmark Nifty 50, which closed at 23,053.1 on Friday, according to figures cited in a Reuters report.
Brent crude futures fell to $111 per barrel on Monday from a six-month high of $118 on Friday, as Iranian and Qatari officials held a third consecutive day of talks aimed at securing a deal to end the US-Israeli war on Iran. [O/R]
“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,” Reuters quoted as saying Ponmudi R, chief executive officer at stock broking platform Enrich Money.
Foreign investors bought Indian shares worth 36 billion rupees ($379.53 million) on Friday, according to provisional data. This would mark their sixth session of buying in the past ten trading days, signalling a possible return after an aggressive selloff so far in 2026.
Indian shares ended a two-month losing streak in October, with the benchmark Nifty 50 and BSE Sensex indexes gaining 1.9 per cent and 2.7 per cent, respectively. The gains were driven by IT stocks, resilient corporate earnings and hopes of relief on capital gains tax.
Reliance Industries, India’s largest company by market capitalisation, beat expectations with a 40.6 per cent jump in quarterly net profit, supported by strong performance in its energy and digital services arm, Jio Platforms.
Jio Platforms, which made a blockbuster stock market debut last week to become India’s second-largest company by market capitalisation, reported a 13.7 per cent growth in quarterly net profit.