Closing Bell: Nifty 50 Gains 1.30%, Sensex Jumps 879 Points as TCS Results Boost IT Stocks

Indian benchmark equity indices, the Sensex and Nifty 50, staged a strong recovery on Friday, October 9, after Thursday's sharp sell-off. Buying in IT stocks following Tata Consultancy Services' (TCS) Q2FY27 results, easing crude oil prices and softer U.S. Treasury yields helped improve market sentiment.

Indian equity markets opened higher and extended their gains during the session. The Nifty 50 opened at 22,376.65, while the Sensex began trading at 72,016.18. Buying gathered momentum during the morning, pushing the Nifty 50 above 22,500 and the Sensex above 72,400.

The Nifty 50 closed at 22,520.45, gaining 288.65 points, or 1.30 per cent, and snapping a two-day losing streak. The Sensex surged 879.09 points, or 1.23 per cent, to close at 72,472.33, supported by strong buying in IT stocks following TCS's Q2FY27 results. On a week-on-week basis, the Nifty 50 closed 0.44 per cent higher, snapping an eight-week losing streak.

Tata Consultancy Services emerged as a key driver of Friday's recovery. The company reported an 11.2 per cent year-on-year increase in consolidated revenue to Rs 73,188 crore, while net profit grew 15 per cent year-on-year to Rs 13,884 crore.

TCS shares gained more than 6 per cent Intraday, supported by operating margins of around 24 per cent and growth in AI-related business. The rally extended to other IT companies, including Infosys, HCL Technologies and Tech Mahindra, lifting the broader IT sector.

Global factors also supported the recovery. Brent crude retreated towards USD 103 per barrel after crossing USD 105 on Thursday amid U.S.-Iran tensions. Lower crude oil prices eased some concerns surrounding India's import bill and inflation.

U.S. Treasury yields also softened following their recent sharp rise. However, broader concerns over elevated borrowing costs, rupee depreciation and foreign institutional investor selling remained unresolved.

Broader market indices also participated in Friday's rebound. The Nifty Midcap 100 advanced around 1.55 per cent, while the Nifty Smallcap 100 gained approximately 0.55 per cent.

The recovery followed a decline of more than 2 per cent in both indices on Thursday, indicating some improvement in buying interest after the recent sell-off.

On the sectoral front, all 11 major sectoral indices traded in positive territory during the morning session. The Nifty IT index surged around 3.02 per cent, emerging as the strongest performer.

Banking and automobile stocks also attracted buying interest. The Nifty Bank index rose approximately 1.2 per cent, while the Nifty Auto index gained around 1.4 per cent.

Among individual stocks, TCS surged over 3.8 per cent intraday following its Q2FY27 earnings announcement. Hexaware Technologies rallied around 6 per cent after announcing a multi-year AI partnership with Anthropic.

ITC rebounded more than 4.31 per cent following Thursday's sharp decline. Colgate-Palmolive (India) jumped nearly 4.73 per cent, recovering from recent selling pressure.

HDFC Bank, ITC and Infosys were the leading contributors to the Nifty 50's gains on Friday. HDFC Bank contributed 50.23 points, followed by ITC at 23.13 points and Infosys at 20.41 points.

On the other hand, Reliance Industries weighed on the index, dragging it down by 11.25 points. JSW Steel and Cipla also exerted downward pressure, contributing negative 1.52 points and 0.72 points, respectively.

As of October 9, 2026, market breadth on the NSE favoured advancing stocks. Out of 3,684 stocks traded, 2,183 advanced, 1,393 declined and 108 remained unchanged.

A total of 51 stocks touched their 52-week highs, while 215 stocks hit their 52-week lows. Additionally, 111 stocks hit their Upper Circuit limits, whereas 115 stocks hit their Lower Circuit limits during the session.

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