Closing Bell: Sensex Surges 1,109 Points, Nifty 50 Reclaims 22,700 as IT Stocks Rally on HCLTech Earnings

Market Update at 04:00 PM: Indian benchmark equity indices, the Sensex and Nifty 50, staged a strong recovery on Tuesday, October 13, supported by robust quarterly earnings from HCLTech, buying interest in IT stocks and improved sentiment following the rupee's appreciation. The India VIX declined over 8 per cent, indicating easing market volatility.

The Nifty 50 opened marginally higher at 22,364.15 but witnessed early volatility, slipping to an Intraday low of 22,288.45 before buying interest emerged. After recovering sharply in the morning, the index traded within a narrow range through midday before gaining further momentum in the final hour. It touched an intraday high of 22,719.25 and closed at 22,702.05, gaining 338.70 points or 1.51 per cent. The Sensex settled at 73,033.78, rising approximately 1,109.10 points or 1.54 per cent and recovering from the previous session's decline.

Strong buying in IT stocks following HCLTech's September-quarter results was the primary driver of Tuesday's recovery. HCLTech reported a 21.2 per cent year-on-year increase in consolidated net profit to Rs 5,132 crore, supported by improved operating profitability and steady deal wins. Its advanced AI business also reported encouraging growth, with annualised revenue increasing to USD 219 million from USD 171 million in the preceding quarter.

Despite concerns surrounding technology spending and AI-led disruption, the results encouraged investors to revisit IT stocks that had witnessed substantial declines earlier in the year. HCLTech shares surged over 8.42 per cent during the session, while Tata Consultancy Services (TCS) gained approximately 6.79 per cent. Buying interest extended to Infosys, Tech Mahindra and other technology companies. The Nifty IT index advanced approximately 5.22 per cent, emerging as the strongest-performing sectoral index.

The Indian rupee's recovery provided additional support to domestic market sentiment. The Reserve Bank of India recently introduced measures aimed at reducing pressure on the currency, including arrangements to facilitate dollar purchases by public sector oil marketing companies. These measures helped reduce immediate demand for dollars in the spot foreign exchange market. The rupee strengthened to approximately Rs 95.27 against the U.S. dollar during Tuesday's session, extending its recovery from the previous week. A stronger rupee can help reduce the import burden, particularly when international crude oil prices remain elevated.

Despite the market recovery, investors continued to monitor inflation and global commodity prices. India's retail inflation increased to 5.54 per cent in September, raising concerns about persistent price pressures and the outlook for domestic interest rates. Meanwhile, Brent crude remained above USD 100 per barrel amid geopolitical tensions in the Middle East. Elevated oil prices remain a challenge for India because of its substantial dependence on crude oil imports. Higher energy costs can increase import expenses, put pressure on the rupee and affect the profitability of companies that depend heavily on fuel and petroleum-based inputs.

The broader market recovery remained uneven compared with the benchmark indices. The Nifty MidCap 100 index closed approximately 1.06 per cent higher, while the Nifty SmallCap 100 index gained around 0.11 per cent, indicating relatively limited participation in smaller stocks.

Sectoral performance was largely positive, led by information technology stocks. The Nifty Realty index gained approximately 2.46 per cent, while the Nifty FMCG and Nifty Auto indices advanced over 1 per cent each. In contrast, the Nifty Pharma index slipped around 0.01 per cent. The performance highlighted the significant contribution of IT stocks to Tuesday's market recovery.

Among individual stocks, HCLTech surged over 8.42 per cent after reporting a 21.2 per cent increase in quarterly net profit, supported by improved profitability, deal wins and growth in its advanced AI business. TCS gained approximately 6.79 per cent, benefiting from buying interest across technology stocks following its recent quarterly earnings. Bandhan Bank jumped approximately 9.21 per cent following reports of potential investment by Abu Dhabi-based funds in its promoter company.

The key contributors to the Nifty 50's recovery included Infosys, which added 32.55 points, TCS, which contributed 32.22 points, and ICICI Bank, which added 31.72 points. On the downside, Kotak Mahindra Bank dragged the index by 7.11 points, Eternal weighed by 4.04 points, and Maruti Suzuki reduced the index by 1.99 points.

Market breadth remained positive on Tuesday, October 13, 2026, reflecting buying interest across domestic equities. Out of 3,644 stocks traded on the NSE, 2,128 advanced, 1,418 declined and 98 remained unchanged. A total of 71 stocks touched their 52-week highs, while 159 stocks hit their 52-week lows. Additionally, 101 stocks reached their Upper Circuit limits, whereas 107 stocks hit their Lower Circuit limits during the session.

Market Update at 2:30 PM: The Sensex and the Nifty 50 traded higher amid negative global cues. As of 2:00 PM, the Sensex rose 618.40 points, or 0.86 per cent, to 72,543.08, while the Nifty 50 gained 188.15 points, or 0.84 per cent, to 22,551.50.

HCL Technologies, Tata Consultancy Services (TCS) and Tech Mahindra were the Top Gainers in the Nifty 50 index.

In the broader markets, the Nifty Midcap index advanced 0.33 per cent, while the Nifty SmallCap index declined 0.69 per cent.

Among sectors, the Nifty IT index emerged as the top gainer, while the Nifty Media and Nifty Pharma indices recorded the steepest declines.

Market Update at 1:10 PM: The Nifty 50 and the Sensex continued to trade higher despite weak global cues, supported by strong buying in IT stocks.

Around 1:00 PM, the Sensex was trading with gains of nearly 600 points, while the Nifty50 remained above the 22,500 mark. 

HCL Technologies, Tata Consultancy Services (TCS) and Tech Mahindra were among the leading gainers in the Nifty50 index.

In the broader markets, performance remained mixed, with the Nifty Midcap trading marginally higher while the Nifty SmallCap remained under pressure.

Sector-wise, the Nifty IT led the gains, supported by positive quarterly earnings, while the Nifty Media and Nifty Pharma indices remained among the major laggards.

Market Update at 11:15 AM: Indian benchmark equity indices, the Sensex and Nifty 50, extended their gains on Tuesday, October 13, despite negative global cues. As of 11:00 AM, the Sensex rose 492 points, or 0.68 per cent, to 72,416.33, while the Nifty 50 gained 156.65 points, or 0.70 per cent, to 22,520.00.

HCL Technologies, Tata Consultancy Services (TCS) and Tech Mahindra were the top gainers in the Nifty 50 index, supported by strength in IT stocks.

In the broader markets, the Nifty Midcap index advanced 0.33 per cent, while the Nifty Smallcap index declined 0.69 per cent, indicating mixed trends across market segments.

Sectorally, the Nifty IT index recorded the strongest gains, while the Nifty Media and Nifty Pharma indices witnessed the steepest declines among sectoral indices.

Market Update at 09:30 AM: Indian benchmark equity indices, the Sensex and Nifty 50, edged higher in early trade on Tuesday, October 13, despite negative global cues. As of 9:21 AM, the Sensex rose 211.97 points, or 0.29 per cent, to 72,136.65, while the Nifty 50 gained 63 points, or 0.28 per cent, to 22,426.35.

HCL Technologies, Tata Consultancy Services (TCS) and Tech Mahindra emerged as the top gainers in the Nifty 50 index, supporting the benchmarks during the early session.

Investors will track the September-quarter earnings announcements scheduled for the day. Anand Rathi Share and Stock Brokers, GTPL Hathway, Hero Motors, ICICI Prudential Life Insurance Company, and Transformers and Rectifiers (India) are set to release their Q2 results.

Primary market activity is also in focus, with two initial public offerings (IPOs) opening for subscription on Tuesday. HD Fire Protect's IPO aims to raise Rs 712.31 crore from the primary market. Vaibhav Vyapaar's IPO is also opening for bidding, with the company seeking to raise Rs 42.10 crore.

Pre-Market Update at 7:40 AM: GIFT Nifty at 22,418, up 54.65 points from the previous Nifty 50 close, indicated a mildly positive start for domestic equities on October 13. The indication was recorded at 6:59 AM IST.

The positive opening cue follows a weak domestic session on October 12, when the Nifty 50 fell 157.10 points, or 0.70 per cent, to close at 22,363.35. The Sensex declined 547.65 points, or 0.76 per cent, to 71,924.68. Elevated crude oil prices, fresh Strait of Hormuz shipping risks and higher September inflation are likely to remain on investors' radar.

Oil-supply concerns intensified after Iran's Islamic Revolutionary Guard Corps (IRGC) said at least three oil tankers had been hit in the Strait of Hormuz over two days. The UK Maritime Trade Operations separately reported incidents involving a crude tanker and a container vessel on Monday.

Disruptions along this critical oil and gas shipping route could sustain a geopolitical risk premium in crude oil and freight costs. This remains relevant for India's oil import bill and could keep oil marketing companies, airlines, paints, chemicals, Logistics firms and upstream energy producers in focus.

India's retail inflation rose to 5.54 per cent in September from 4.83 per cent in August, while food inflation accelerated to 7.74 per cent from 5.97 per cent. The headline inflation reading is above the Reserve Bank of India's 4 per cent target, bringing food-led price pressures and the policy-rate outlook into focus. Banks, non-banking financial companies (NBFCs), consumer companies and other rate-sensitive sectors may be watched following the latest inflation data.

Primary market activity also picks up on October 13, with three initial public offerings (IPOs) — HD Fire Protect, Ravita Engineering Services and Vaibhav Vyapaar — opening for subscription.

HD Fire Protect's Rs 712.31-crore issue is priced at Rs 258-271 per share. Ravita Engineering Services' Rs 116.05-crore issue is priced at Rs 105-112 per share, while Vaibhav Vyapaar's issue is priced at Rs 52 per share. The offerings will test primary-market appetite amid volatility in secondary equities and may absorb some investor liquidity.

U.S. markets closed mixed in the previous session. The Dow Jones Industrial Average rose 0.38 per cent to 51,850.55, while the S&P 500 slipped 0.06 per cent to 7,807.24 and the Nasdaq declined 0.44 per cent to 27,245.90.

Asian markets were also mixed in early trade. Japan's Nikkei fell 2.27 per cent, while the Shanghai Composite declined 0.43 per cent. Hong Kong's Hang Seng rose 0.25 per cent. European equities had closed higher, with the FTSE 100 gaining 0.99 per cent, the DAX advancing 0.76 per cent and the CAC 40 rising 0.38 per cent.

Brent crude traded at USD 105.60 per barrel, down 0.48 per cent, while West Texas Intermediate (WTI) crude stood at USD 93.91 per barrel, down 0.51 per cent, as of 7:00 AM IST. Despite the modest decline, Brent remained above USD 100 per barrel.

Sustained elevated oil prices are relevant for India's imported inflation, current account and currency outlook. Oil-consuming sectors such as aviation, logistics, chemicals, paints and tyres could remain sensitive to crude price movements, while upstream producers may also attract investor attention.

Gold declined 0.34 per cent to USD 4,157.08, while silver fell 0.84 per cent to USD 59.76. The U.S. Dollar Index eased 0.13 per cent to 102.46. The rupee traded around Rs 95.76 per USD, unchanged from the previous level.

The U.S. 10-year Treasury yield declined by 2.3 basis points to 5.214 per cent. Movements in U.S. bond yields remain relevant to global risk appetite, capital flows and equity valuations.

Foreign institutional investors (FIIs) were net sellers of Indian equities worth Rs 1,708.48 crore on October 12. Domestic institutional investors (DIIs) were net buyers to the tune of Rs 3,045.02 crore. The contrasting flows highlighted continued domestic institutional absorption of foreign selling. However, one-day flow data alone does not establish the likely direction of the broader market.

In the previous session, the Nifty 50 closed at 22,363.35, down 157.10 points, or 0.70 per cent. During the session, the index moved between 22,304.45 and 22,651.10. The Sensex finished at 71,924.68, lower by 547.65 points, or 0.76 per cent, after touching an intraday high of 72,884.25 and a low of 71,676.10.

India VIX rose 6.05 per cent to 15.25, indicating higher expected volatility. However, the VIX movement alone does not indicate the direction of the market.

HCL Technologies reported an 11 per cent sequential rise in consolidated net profit to Rs 5,132 crore for Q2 FY27. Revenue from operations increased 3 per cent quarter-on-quarter to Rs 35,620 crore. The board declared an interim Dividend of Rs 12 per equity share. The earnings update provides a fresh trigger for the company and the broader IT services sector.

ICICI Prudential Asset Management Company reported a 6.1 per cent year-on-year increase in Q2 FY27 profit after Tax to Rs 889 crore. Revenue from operations rose 16.3 per cent to Rs 1,674 crore, while quarterly average assets under management grew 14.4 per cent to Rs 11.61 lakh crore. The company declared an interim dividend of Rs 30 per share, with October 21 set as the record date.

RBL Bank's Q2 FY27 net profit nearly tripled year-on-year to Rs 482 crore. Advances rose 42 per cent to Rs 1.42 lakh crore, while deposits grew 34 per cent to Rs 1.56 lakh crore. The bank said its balance sheet was aided by Rs 32,472 crore mobilised through the RBI's FCNR(B) swap facility. Underlying advances growth, excluding FCNR(B)-linked loans, was approximately 30 per cent.

Jubilant Pharmova approved a plan to raise up to Rs 800 crore through non-convertible debentures (NCDs) and will seek broader debt-issuance authorisation. Separately, Quant Mutual Fund sold 20.81 lakh shares worth approximately Rs 190.47 crore in bulk deals, while Abakkus Four2Eight Opportunities Fund bought 11 lakh shares. The proposed fundraising and institutional transactions place the stock in focus.

The National Company Law Appellate Tribunal (NCLAT) stayed the National Company Law Tribunal (NCLT) order that had admitted insolvency proceedings against Polycab India over an alleged operational debt of Rs 2.79 crore, pending further orders.

Separately, the National Stock Exchange (NSE) will remove Polycab India from the equity derivatives segment from December 30, 2026, while existing contracts will remain available until expiry.

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

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