The Indian stock market is expected to open higher on Monday, November 2, following a 172-point gain in GIFT Nifty during early trading. Investors will track quarterly earnings from Reliance Industries, Jio Platforms and NTPC, along with October automobile sales figures and cues from global markets.
At around 7:50 am on Monday, GIFT Nifty was trading near 23,258, up 172 points or 0.75%. In the previous trading session, both the Sensex and Nifty closed higher. Market participants will focus on corporate earnings, vehicle sales data for October and developments in global markets during the first trading session of the week.
GIFT Nifty's gains indicate the possibility of a higher opening for the Sensex and Nifty. However, the sustainability of any gains after the market opens will depend on buying and selling activity.
According to market experts, the 23,175–23,250 range is an important level for the Nifty, where selling pressure could emerge. A sustained move above this range could indicate a pause in the recent decline, while trading below these levels may keep market volatility elevated.
On Friday, the Sensex gained 308.49 points to close at 74,459.53. The Nifty advanced 116.35 points to settle at 23,053.10.
Shares of Reliance Industries are likely to remain in focus during Monday's trading session following the company's September-quarter results. Its consolidated net profit increased 33.8% to Rs 29,550 crore, compared with Rs 22,092 crore in the corresponding period last year.
The company's revenue rose 27.8% to Rs 3.62 lakh crore, while EBITDA increased 23.9% to Rs 62,409 crore.
Jio Platforms also reported higher quarterly earnings. Its net profit increased 13.7% to Rs 8,387 crore, while revenue grew 11.3% to Rs 47,485 crore. Investors will track these figures from the company's telecommunications and digital businesses.
State-owned power company NTPC reported a 14.3% increase in standalone net profit to Rs 5,319.9 crore. Its income rose 16.8% to Rs 45,752 crore.
Meanwhile, Bharat Electronics reported a 19.7% increase in net profit to Rs 1,540.4 crore. Its revenue grew 26.5% to Rs 7,327.7 crore.
Bank of Baroda reported a net profit of Rs 6,531.5 crore for the September quarter, marking an increase of 35.8% from the corresponding period last year. The bank's net interest income rose 9% to Rs 13,026.3 crore.
Indian Oil Corporation reported an 184.2% increase in net profit to Rs 21,630 crore. Revenue, excluding excise duty, increased 40% to Rs 2.5 lakh crore.
LIC Housing Finance recorded an 11.7% rise in net profit to Rs 1,506.6 crore.
In contrast, Zee Entertainment reported a 40.4% decline in net profit to Rs 45.6 crore. However, its revenue increased 13% to Rs 2,224.6 crore.
Automobile companies will remain in focus following the release of their October sales figures.
Maruti Suzuki reported a 20.9% increase in total sales to 2.67 lakh vehicles. Domestic sales stood at 2.26 lakh units, up 19.3% from the corresponding period last year.
Tata Motors' commercial vehicle business recorded a 27% increase in sales to 47,652 units. Its passenger vehicle business sold 75,426 vehicles, registering a 23% increase. Domestic passenger vehicle sales stood at 73,894 units.
Hyundai Motor India's total sales increased 17.7% to 82,299 units. Domestic sales rose 16.7% to 62,799 units.
Coal India will also remain in focus after its monthly coal supply crossed the 70-million-tonne mark for the first time, reaching 70.3 million tonnes. The previous record was 69.4 million tonnes, recorded in March 2026.
Several companies are scheduled to announce their quarterly results on Monday, November 2.
The companies include ITC, Marico, One MobiKwik Systems, Akums Drugs, Amara Raja Energy, Balaji Amines, Container Corporation of India, Devyani International, DOMS Industries, Escorts Kubota, Granules India and KEC International.
Other companies scheduled to report their results include National Aluminium Company, Purple Style Labs, Petronet LNG, PTC India, Sun Pharma Advanced Research, Tata Investment Corporation, TBO TEK, Trident, UPL, Wockhardt and Zuari Agro Chemicals.
