Closing Bell: Sensex Surges 1,534 Points, Nifty 50 Gains 375 Points as IT and Banking Stocks Rally

Market Update at 04:00 PM: Indian benchmark indices, the Sensex and Nifty 50, advanced on Thursday, October 15, 2026, recovering from Wednesday’s decline as buying in IT, financial services and heavyweight stocks lifted market sentiment.

The Nifty 50 opened at 22,671.30, compared with its previous close of 22,622.70, and extended gains during the session. Strong buying in technology companies and private sector Banks helped the index approach the 23,000 mark. The Sensex surged 1,533.72 points, or 2.11 per cent, to 73,315.61, while the Nifty 50 gained 374.65 points, or 1.66 per cent, to 22,997.35. The rally was reported as the biggest Intraday gain since June 12, 2026. The recovery followed Wednesday’s decline, when the Sensex lost 251.89 points and the Nifty 50 fell 99.25 points.

Information technology stocks contributed to Thursday’s rally, supported by September-quarter results from HCLTech and Tata Consultancy Services (TCS). The Nifty IT index advanced approximately 1.82 per cent. HCLTech, Infosys and TCS gained over 2 per cent, while Tech Mahindra and Wipro attracted buying interest ahead of their quarterly earnings announcements.

International crude oil prices eased from recent elevated levels, providing support to Indian equities. Brent crude declined towards USD 104.71 per barrel, compared with levels near USD 106 in the previous session. Lower oil prices are important for India because the country imports a substantial portion of its energy requirements.

The Indian rupee strengthened towards Rs 94.92 against the U.S. dollar during Thursday’s session, with the supplied data reporting a closing level of Rs 95.05 per dollar. Recent measures by the Reserve Bank of India to manage dollar demand and stabilise the currency have supported its recovery.

Despite the sharp rally in benchmark indices, broader market performance remained weak. The Nifty MidCap 100 declined approximately 0.36 per cent, while the Nifty SmallCap 100 fell around 1.31 per cent. The divergence suggested that buying interest was concentrated largely in heavyweight stocks rather than extending across the broader market.

Seven of the 11 major sectors reportedly advanced during Thursday’s session. The Nifty IT index gained approximately 1.82 per cent, while financial services and private banking stocks also recorded gains. HDFC Bank and ICICI Bank supported the benchmark indices.

Among individual stocks, ICICI Lombard General Insurance gained approximately 1.26 per cent, supported by improved quarterly profitability. IDBI Bank declined around 8.1 per cent following developments related to the proposed sale of a majority stake to Fairfax Financial Holdings. CEAT fell approximately 4.52 per cent after reporting a decline in quarterly profit, while Enviro Infra Engineers advanced around 1.78 per cent following an announcement of a major contract award.

ICICI Bank was the largest positive contributor to the Nifty 50, adding 79.71 points, followed by Reliance Industries, which contributed 59.11 points, and HDFC Bank, which added 54.20 points. On the downside, Nestle India reduced the index by 16.81 points. Larsen & Toubro (L&T) and Shriram Finance dragged the index by 2.56 points and 1.90 points, respectively.

Market breadth remained negative despite the strong gains in benchmark indices. Of the 3,667 stocks traded on the NSE, 1,343 advanced, 2,218 declined and 106 remained unchanged. A total of 69 stocks touched their 52-week highs, while 83 hit their 52-week lows. Additionally, 106 stocks reached their Upper Circuit limits, while an equal number hit their Lower Circuit limits.

Market Update at 02:20 PM: The Indian equity benchmarks, the Sensex and the Nifty 50, extended their gains on Thursday, supported by advances in IT and banking shares. As of 2:00 PM, the Sensex surged 1,498.68 points, or 2.06 per cent, to 74,280.57, while the Nifty 50 climbed 422.85 points, or 1.87 per cent, to 23,045.55.

Tech Mahindra, Tata Consumer Products and Tata Consultancy Services (TCS) were the Top Gainers on the Nifty 50.

In the broader markets, the Nifty MidCap rose 0.27 per cent, while the Nifty SmallCap declined 0.66 per cent. Among sectoral indices, the Nifty IT recorded the strongest gains, while the Nifty PSU Bank was the biggest laggard.

Market Update at 12:20 PM: The Indian equity benchmarks, the Sensex and the Nifty 50, advanced sharply by noon on the back of gains in IT and banking shares. As of 12:00 PM, the Sensex surged 1,200 points, or 1.69 per cent, to 74,011.21, while the Nifty 50 climbed 351.25 points, or 1.55 per cent, to 22,973.95.

Tech Mahindra, Tata Consumer Products and Tata Consultancy Services (TCS) were the top gainers on the Nifty 50. In the broader markets, the Nifty MidCap rose 0.27 per cent, while the Nifty SmallCap declined 0.66 per cent.

Among sectoral indices, the Nifty IT recorded the strongest gains, while the Nifty PSU Bank was the biggest laggard.

Market Update at 09:30 AM: The Indian equity benchmarks, the Sensex and the Nifty 50, traded higher in early deals on Wednesday, supported by gains in IT and banking stocks. As of 9:20 AM, the Sensex rose 276.28 points, or 0.38 per cent, to 73,058.17, while the Nifty 50 advanced 79.65 points, or 0.35 per cent, to 22,702.35.

Tech Mahindra, Tata Consumer Products and Tata Consultancy Services (TCS) were among the top gainers on the Nifty 50. However, broader markets remained under pressure, with the Nifty MidCap declining 0.11 per cent and the Nifty SmallCap falling 0.41 per cent. Among sectoral indices, the Nifty IT recorded the strongest gains, while the Nifty PSU Bank was the biggest laggard.

Investors will track quarterly earnings from Angel One, HDFC Asset Management Company, HDFC Life Insurance Company, Nestle India and Tech Mahindra, which are scheduled to announce their results on Wednesday.

In the primary market, the IPOs of Tonbo Imaging India, Zetwerk, Bonfiglioli Transmissions, Sahajanand Medical Technologies and Shellz India are scheduled to open for subscription.

Meanwhile, the Fusion CX and Ravita Engineering Services IPOs will enter their second day of bidding. The Vaibhav Vyapaar IPO will enter its final day of subscription on Thursday.

Pre-Market Update at 7:40 AM: GIFT Nifty indicated a muted to mildly weak opening for domestic equities on Thursday, October 15, 2026. It traded at 22,607.5 at 6:59 AM IST, down 15.2 points, or 0.07 per cent, from the previous Nifty 50 close of 22,622.70.

The indication follows a weak domestic session on Wednesday, when the Nifty 50 declined 99.25 points, or 0.44 per cent, to close at 22,622.70, while the Sensex fell 251.89 points, or 0.34 per cent, to 72,781.89. Global risk appetite weakened after higher U.S. inflation data revived concerns about the Federal Reserve's interest-rate outlook.

Wall Street declined in the previous session, with technology stocks leading the losses after the inflation data raised concerns about further Federal Reserve rate hikes. The Dow Jones Industrial Average edged down 0.09 per cent to 51,621.48, while the S&P 500 fell 1.11 per cent to 7,718.94. The Nasdaq declined 1.88 per cent to 26,692.87, reflecting sharper weakness in technology shares, including AI-linked stocks. The developments could keep global risk appetite under pressure, particularly for rate-sensitive and high-beta stocks, amid continued foreign institutional investor outflows.

Asian markets were broadly weak in early trade. Japan's Nikkei declined 3.90 per cent, the Shanghai Composite fell 0.88 per cent and Hong Kong's Hang Seng slipped 0.13 per cent. In contrast, European markets closed higher in the previous session, with the FTSE 100 gaining 0.70 per cent, France's CAC 40 rising 0.58 per cent and Germany's DAX adding 0.15 per cent.

Jio Platforms, the telecom and digital services arm of Reliance Industries, has fixed the price band for its proposed initial public offering (IPO) at Rs 1,065 to Rs 1,119 per share. The fresh issue could raise up to Rs 30,213 crore, while eligible Reliance Industries shareholders will have a reservation of up to Rs 2,500 crore. The proposed issue is scheduled to open for subscription on October 21 and close on October 23. The transaction is expected to be India's largest IPO and will be closely watched for its implications for telecom and digital-platform valuations, as well as primary-market liquidity.

Three mainboard IPOs from Zetwerk, Tonbo Imaging and Bonfiglioli Transmissions are opening for subscription on Thursday. The companies raised Rs 2,251.23 crore, Rs 255.36 crore and Rs 759.26 crore, respectively, from anchor investors. The simultaneous offerings will place the spotlight on investor participation and primary-market liquidity across manufacturing, Defence electronics and industrial businesses.

The proposed 0.4 per cent UPI merchant discount rate (MDR) for transactions above Rs 2,000, originally scheduled to take effect today, Thursday, has been officially deferred by the NPCI until after the Diwali festival season. Once implemented, this fee will only apply to specific merchant transactions over Rs 2,000, while remaining entirely free for everyday consumers, small-scale businesses, and all standard person-to-person transfers.

Wipro's board is scheduled to consider its September-quarter results on October 15. Investors will track the company's earnings and management commentary for signals on discretionary technology spending, deal momentum, margins and the outlook for the IT services sector.

Crude oil prices declined in early trade. Brent crude was trading at USD 104.66 per barrel, down 1.36 per cent, as of 7:00 AM IST on October 15. West Texas Intermediate (WTI) crude fell 1.03 per cent to USD 94.97 per barrel. Despite the decline, crude prices remain important for Indian equities because of the country's dependence on oil imports. Movements in energy prices will be monitored by oil marketing companies, aviation businesses and other fuel-intensive sectors.

Gold gained 0.89 per cent to USD 4,143.09, while silver rose 1.10 per cent to USD 56.22. The gains in precious metals amid weakness in global equities may provide an indication of changing investor risk positioning.

The U.S. Dollar Index declined 0.49 per cent to 102.05, while the rupee traded around Rs 95.14 per U.S. dollar, strengthening 0.15 per cent. The U.S. 10-year Treasury yield fell by 0.063 percentage points to 5.123 per cent. Movements in U.S. bond yields remain relevant for global equity valuations and investor appetite for emerging markets.

Foreign institutional investors (FIIs) were net sellers of Indian equities worth Rs 1,857.44 crore in the latest available session, while domestic institutional investors (DIIs) were net buyers of Rs 2,670.44 crore. The contrasting flows highlight continued domestic buying amid foreign selling. These trends may remain important as investors assess the impact of U.S. inflation and interest-rate expectations on emerging-market capital flows.

On Wednesday, October 14, the Nifty 50 closed at 22,622.70, declining 99.25 points, or 0.44 per cent. During the session, the index moved between an intraday low of 22,558.95 and a high of 22,757.95. The Sensex ended at 72,781.89, down 251.89 points, or 0.34 per cent, after trading between 72,578.75 and 73,195.26. India VIX rose 3.54 per cent to 14.62, indicating higher expected market volatility.

Among stocks to watch, Reliance Industries will remain in focus following Jio Platforms' announcement of its proposed IPO price band of Rs 1,065 to Rs 1,119 per share. The fresh issue could raise Rs 30,213 crore, with up to Rs 2,500 crore reserved for eligible Reliance Industries shareholders. The subscription window is scheduled for October 21 to October 23.

HDB Financial Services reported a 34 per cent year-on-year increase in September-quarter net profit to Rs 780 crore. Revenue from operations rose by more than 10 per cent to Rs 5,005 crore, while net profit margin improved to 15.59 per cent from 12.79 per cent. The company also declared an interim Dividend of Rs 2 per share.

Tata Technologies reported a nearly 4 per cent year-on-year increase in September-quarter net profit to approximately Rs 171 crore. Operating revenue rose 28 per cent to around Rs 1,699 crore, while the company highlighted key deal wins. Investors will assess the results for indications of demand in automotive and manufacturing engineering services.

Bajaj Consumer Care reported a 66 per cent year-on-year increase in September-quarter profit after Tax to Rs 70.2 crore. Operating income rose 25.4 per cent to Rs 332.8 crore, while EBITDA increased 71 per cent to Rs 83.3 crore. Revenue from the domestic business grew by more than 30 per cent.

CEAT reported a nearly 40 per cent year-on-year decline in consolidated September-quarter net profit to Rs 112 crore, despite a 26 per cent increase in revenue from operations to Rs 4,762 crore. EBITDA margin stood at 9.5 per cent, with elevated raw-material costs weighing on profitability.

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

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