Mumbai, Nov. 2 -- The key equity benchmarks surged on Monday, extending their winning streak to a third consecutive session. Falling crude oil prices, strong Q2 earnings from Reliance Industries and Jio Platforms, and renewed foreign investor buying supported the rally. Expectations of long-term capital gains tax relief, a stronger rupee and easing bond yields further lifted sentiment. Weakness in global AI-linked stocks also supported Indian equities. The Nifty closed above 23,400. Oil & gas, metal and consumer durables stocks led the gains. In contrast, media and IT shares declined.

The S&P BSE Sensex jumped 1,233.25 points or 1.66% to 75,692.78. The Nifty 50 index surged 387.70 points or 1.68% to 23,440.80.

Reliance Industries (up 11...