Nifty, Sensex Extend Gains; Realty and PSU Bank Sectors Lead

Market Update at 4:00 PM: On Friday, October 10, Indian equity benchmark indices ended higher, with gains of nearly 0.5 per cent. The Nifty 50 opened on a positive note and steadily climbed throughout the day, closing near the day’s high.

At the close, the Nifty 50 rose 103.55 points, or 0.41 per cent, to settle at Rs 25,285.35, while the Sensex gained 328.72 points, or 0.40 per cent, ending at Rs 82,500.82. Both indices rose 1.57 per cent for the week, marking gains for the second consecutive week. Foreign inflows, central Bank lending reforms, and optimism ahead of the earnings season supported the market rally.

On the sectoral front, nine out of eleven indices closed in positive territory. The Nifty Realty index emerged as the top performer, with most constituents finishing in the green. Nifty PSU Bank also surged alongside Realty, with both indices up 1.67 per cent.

 On the other hand, the Nifty IT index declined marginally by 0.05 per cent after TCS announced its Q2FY26 results, while Nifty Metals fell 0.91 per cent, retreating from previous session gains driven by supply concerns.

Broader markets outperformed benchmarks, with the Nifty Midcap 100 rising 0.46 per cent and the Nifty Smallcap 100 up 0.74 per cent.

Among individual stocks, Tata Elxsi fell nearly 3 per cent following weak Q2 earnings. Auto parts maker Sona BLW jumped 4.4 per cent Intraday after signing a deal with Germany-based NEURA Robotics for joint development of robots and humanoids in domestic and international markets, closing 0.78 per cent higher from its previous close. 

Market breadth was positive, with 1,905 stocks advancing, 1,177 declining, and 92 remaining unchanged out of 3,174 stocks traded on the NSE. A total of 77 stocks hit their 52-week highs, while 59 reached their 52-week lows. Additionally, 91 stocks were locked in their Upper Circuits, and 44 stocks were in Lower Circuits.

Market Update at 12:35 PM: India’s benchmark indices, Nifty 50 and Sensex, have risen 1.6 per cent so far this week, marking their second consecutive weekly gain. The rally has been driven by steady foreign inflows, the Reserve Bank of India’s recent lending reforms, and optimism ahead of the corporate earnings season.

On Friday, the benchmark indices advanced by 0.4 per cent each, while the broader markets also participated in the uptrend. The Nifty Midcap index gained about 0.5 per cent, and the Nifty Smallcap index added a similar 0.5 per cent. Out of the 16 major sectoral indices, 15 were in positive territory. The Nifty Metal index was the only laggard, down 1.2 per cent, giving up the previous session’s gains that had been driven by global supply concerns.

The financial sector continued to support the benchmarks, with the Nifty Financial Services index rising 0.7 per cent, making it the top contributor to overall market gains.

Among key movers, Tata Consultancy Services (TCS) fell 1.32 per cent despite reporting better-than-expected Q2 revenue. Analysts attributed the decline to concerns that its entry into the data centre business may reduce free cash flow available to shareholders over the next five to seven years. Tata Elxsi also dropped 2.7 per cent following weak second-quarter results.

Market Update at 10:30 AM: India's equity benchmarks opened higher on Friday, supported by gains in financials, while information technology (IT) stocks posted modest rises following Tata Consultancy Services' (TCS) quarterly revenue beat.

The Nifty 50 rose 0.21 per cent to 25,235.1, while the BSE Sensex added 0.24 per cent to 82,370.41 as of 9:26 a.m. IST. Nifty 50 has advanced in five of the past six sessions, gaining 2.3 per cent, driven by an approximately 6 per cent rally in IT stocks.

Financials rose 0.4 per cent, while IT gained 0.2 per cent. Nine out of 10 members of the IT sub-index advanced, although TCS declined 0.7 per cent after rising 6 per cent in the previous six sessions ahead of its earnings report.

Broader market segments also saw gains, with Small-Cap stocks rising 0.4 per cent and Mid-Cap stocks increasing 0.3 per cent.

Pre-Market Update at 7:30 AM: On Friday, October 10, equity benchmark indices Sensex and Nifty 50 are expected to open lower, following weakness in global markets. At 7:10 AM, the GIFT Nifty was trading at 25,241, down 19 points. 

With the Q2 earnings season underway, the market is likely to trade within a wide range, supported by strong domestic liquidity and improving global sentiment. Stock and sector-specific movements may continue, driven by festive demand and expectations of healthy Q2FY26 earnings.

In early trade, Asian markets were mostly lower, tracking overnight losses on Wall Street, where all three major indices ended in the red.

On Thursday, October 9, Foreign Institutional Investors (FIIs) were net buyers for the third consecutive day, purchasing equities worth Rs 864.36 crore. Domestic Institutional Investors (DIIs) also remained net buyers for the 32nd straight session, investing Rs 1,308.16 crore.

On Thursday, Indian benchmark indices ended higher, supported by gains in metal and IT stocks. The Nifty 50 rose 135.65 points, or 0.54 per cent, to 25,181.80, while the Sensex gained 398.45 points, or 0.49 per cent, to close at 82,172.10. The Nifty Metal index led the rally amid rising global base metal prices. The Nifty IT index advanced 1.12 per cent, led by TCS, which gained 1.14 per cent ahead of its Q2FY26 results. Over the past five sessions, the IT index has gained 5.08 per cent. All sectoral indices closed in the green, while midcap and smallcap indices outperformed.

Tata Consultancy Services (TCS) reported consolidated revenue of Rs 65,799 crore for Q2FY26, up 3.7 per cent quarter-on-quarter and 0.8 per cent in constant currency. International revenue rose 0.6 per cent QoQ in constant currency, led by growth in the BFSI vertical. 

The operating margin expanded 70 basis points to 25.2 per cent, while net income rose 8.4 per cent year-on-year to Rs 12,904 crore, with a net margin of 19.6 per cent. Cash flow from operations stood at 110.1 per cent of net income, and total contract value (TCV) for the quarter reached USD 10 billion. 

The board declared a dividend of Rs 11 per share, with a record date of October 15, 2025, and payment on November 4, 2025. TCS also announced a new business entity to build AI infrastructure in India with a 1 GW capacity data centre and completed the acquisition of 100 per cent stake in ListEngage.

US markets ended lower on Thursday amid consolidation ahead of the Q3 earnings season. The Dow Jones Industrial Average declined 243.36 points, or 0.52 per cent, to 46,358.42. The S&P 500 fell 18.61 points, or 0.28 per cent, to 6,735.11, while the Nasdaq Composite slipped 18.75 points, or 0.08 per cent, to 23,024.63.

Japan’s wholesale inflation in September stood at 2.7 per cent year-on-year, unchanged from the previous month. The Corporate Goods Price Index (CGPI), which tracks prices between companies, was slightly above market expectations of a 2.5 per cent rise.

Gold prices recovered slightly in early Asian trade after a sharp overnight fall. Spot gold rose 0.3 per cent to USD 3,986.90 per ounce. On October 9, gold futures on MCX closed at Rs 1,20,493 per 10 grams, down Rs 2,716 or 2.2 per cent.

Crude oil prices were little changed in early Asian trade after falling over 1 per cent in the previous session. The decline came as geopolitical risk premiums eased following reports that Israel and Hamas agreed to the first phase of a plan to end the Gaza conflict. Brent crude futures rose 9 cents, or 0.1 per cent, to USD 65.31 a barrel, while US West Texas Intermediate (WTI) crude gained 12 cents, or 0.2 per cent, to USD 61.63.

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Disclaimer: The article is for informational purposes only and not investment advice.