Stock markets close with gains, Sensex rally over 1200 points

New Delhi, Nov 2 (UNI) Indian stock markets on Monday ended higher on the third straight session. Benchmark Nifty crossed the 23,300 mark supported by strong buying in heavyweight stocks. Reliance Industries rallied around 11.5% after reporting strong Q2 earnings. At close, the Sensex was up 1,233.25 points or 1.66 percent at 75,692.78, and the Nifty was up 387.70 points or 1.68 percent at 23,440.80. Among the sectors, IT, media, pharma down 0.5% each, while Energy, PSU Bank, Consumer Durables, Infra, Auto, Oil & Gas up 1-4.6 percent. On Nifty, the biggest Nifty gainers were Reliance Industries, Tata Steel, Shriram…