Markets Rally on RIL Earnings & GST Surge as Rupee Opens StrongerIndian equity markets opened the week on a strong note, with the Nifty surging past 23,200 points in early trade, aided by a firm opening in the Indian rupee at 94.89 against the US dollar. Sentiment was lifted by robust second-quarter earnings from Reliance Industries, where consolidated net profit jumped 33.8% year-on-year to a record 29,550 crore rupees alongside solid performance from Jio Platforms.
Additionally, market sentiment received a boost from macroeconomic indicators, including strong October automobile sales and gross GST collections climbing 22.9% year-on-year to 2.31 lakh crore rupees. Oil and gas, PSU banks, and auto counters led sector-wide gains as international crude oil prices cooled to 101 dollars a barrel.
The bulletin also covered the government's newly notified Bharatiya Vayu Yanyam 2026 rules aimed at curbing extreme airfare spikes during extraordinary situations, with routine ticket pricing continuing to remain guided by market forces.