Nifty IT Surges 5.2% to Log Biggest Single-Day Gain in 17 Months
Tech Mahindra rose 5% after reporting a 32.74% jump in quarterly net profit, helping IT shares support the benchmark rally.
- On Friday, October 16, 2026, Indian benchmark indices BSE Sensex and NSE Nifty traded higher in choppy trading, with the Sensex at 74,552 and NSE Nifty at 23,115, led by banking and information technology stocks.
- Strong second-quarter earnings from leading IT companies drove a resurgence in the sector, which Equirus Wealth Managing Director Ankur Punj noted helped cushion domestic equities against global volatility and profit-taking pressures.
- Tech Mahindra jumped 6.5 percent after beating revenue expectations, Wipro soared 4.6 percent on second-quarter gains, and TCS led early gains at 2.26 per cent as the IT index outperformed other sectors.
- Indian equities extended their rally despite a broader sell-off in other Asian markets, where Shanghai's SSE Composite index fell 1.98 per cent and South Korea's Kospi tumbled 8.72 per cent.
- Choice Broking Private Limited analyst Hitesh Tailor stated market bias remains cautious due to lingering global uncertainties and profit booking, though Domestic Institutional Investors continue supporting equities amid foreign institutional selling.
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38 Articles
Indian markets continue rally; Nifty and Sensex close 2% up as rupee strengths
The Indian stock market continued its 3-day rally, defying other Asian markets dragged down by speculation around AI stocks and concerns about U.S. inflation and a potential interest rate hike by the U.S. Federal Reserve
5 reasons why the market is rallying today: Sensex rockets 1,400 points, Nifty crosses 23,000
Sensex surges over 1,000 points and Nifty crosses 22,900 on October 15. IT stocks extend gains as falling crude oil prices, a stronger rupee and Q2 earnings optimism support the market.
Stock Market Zoom: Trading in the stock market began on a positive note on Thursday. Both the Sensex and Nifty indexes opened in the green zone with gains. The BSE Sensex jumped by more than 600 points upon opening.
15 October, 2026 Stock Market Updates: Sensex gains 183 points, Nifty near 22,700, TCS jumps over 2%
Asian shares tumbled after US stocks fell to their worst day since July, following the latest signal that inflation is worsening. Japan's Nikkei 225 was down by 3,478.29 points.
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