Big surge! Early Diwali for Sensex, Nifty as stock market skyrockets on Reliance Jio IPO, IT shares jump - More to come?
BSE moved higher in a quarterly results development.
· LiveMint Markets
Indian benchmarks rallied more than 2% on Thursday, with the Sensex topping 74,330 and the Nifty reclaiming 23,000. Strong IT earnings, buying in financial and consumer stocks, a firmer rupee and lower oil prices supported sentiment despite weakness in Asian markets.
The analysis
BSE reported movement of 2%. Those are the figures as filed — what moves the price is how they sit against what the market already expected, not their absolute size.
Against that, the stock is -0.2% on the day at ₹1,164.90, and has returned -9.9% over three months. It sits 27% below its 52-week high, which means a good deal of bad news was already in the price. The oil & energy sector has moved -5.7% over the same period, so Reliance Industries is running 4.2 points behind its peers.
For Reliance Industries, the question is how much of this is already reflected in the price and how much re-rates the oil & energy peer set alongside it.
Why it matters
- Earnings versus expectations is what actually re-rates a stock; the surprise matters more than the absolute number.
- Listing activity is a read on risk appetite — a hot primary market usually means a confident secondary one.
- With BSE involved, this carries a regulatory dimension that can outlast the immediate market reaction.
Market context
- In focus: Reliance Industries (RELIANCE), in Oil & Energy.
- Over three months: Reliance Industries -9.9% against Oil & Energy -5.7% (4.2 points behind).
- At least 25% below the 52-week high: Reliance Industries (27%).
| Company | Price | Day | 1M | 3M | From 52-wk high | Volume vs 20-day | Market cap |
|---|---|---|---|---|---|---|---|
| Reliance IndustriesRELIANCE · Oil & Energy | ₹1,164.90 | -0.2% | -1.9% | -9.9% | -26.8% | 1.0× | — |
Oil & Energy
1M -4.8% · 3M -5.7%
Reliance Industries
Financial Services
1M -8.8% · 3M -14.9%
Consumer & Retail
1M -4.9% · 3M -9.5%
Consumer Durables
1M -5.5% · 3M -12.4%
Prices as of 30 Oct 2026, 16:10 IST. Sector moves are the average of the stocks we track in each sector.
In this story
Related coverage
Jio Platforms shares to be available under MTF from Day 1. What should investors know?
Jio Financial Services share price decoded: Reliance stock performance amid Jio Platforms IPO buzz; target, outlook
Trent net profit up 25% despite cost pressures and stiff competition
Jio IPO windfall brings mega party, early salaries, and bonus bonanza
Stocks in news: Jio Platforms, RIL, Infosys, L&T, Tata Capital, Waaree Energies and Vedanta Iron