The Indian stock market staged a strong comeback on Thursday, snapping a one-day losing streak as a rally in IT and metal stocks propelled the benchmark indices higher. Investor sentiment was boosted by positive global cues and anticipation ahead of the Q2 earnings season, which was kicked off by IT giant Tata Consultancy Services (TCS) today.
The S&P BSE Sensex gained 398.44 points (0.49%) to close at 82,172.10. The NSE Nifty 50 also saw a solid rise, climbing 135.65 points (0.54%) to end the day at 25,181.80.
Key Market Highlights
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Sensex: Closed at 82,172.10, up by 398 points.
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Nifty 50: Ended the session near the 25,200 mark.
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Market Sentiment: The mood on Dalal Street was upbeat, with all sectoral indices ending in the green. Positive global cues, particularly from U.S. tech stocks, and a pause in foreign outflows contributed to the positive sentiment.
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Broader Markets: The broader markets also participated in the rally, with the Nifty Midcap 100 and Nifty Smallcap 100 indices gaining 0.97% and 0.61%, respectively.
Top Gainers and Losers
Gains were led by metal and IT stocks, while some private banking and consumer goods names lagged.
| Top Gainers |
Top Losers |
| Tata Steel |
Axis Bank |
| JSW Steel |
Tata Consumer Products |
| SBI Life Insurance |
Maruti Suzuki |
| HCL Technologies |
Titan Company |
| Bharat Electronics |
Bharti Airtel |
Sectoral Performance
It was a day of broad-based gains, with all sectors closing in the green.
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Top Gainers: The Nifty Metal, Nifty IT, and Nifty Pharma indices were the standout performers, each rising over 1%.
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Other Gainers: The Auto, Bank, Energy, Financial Services, Realty, and Consumer Durables indices also settled with gains.
Q2 Earnings Season Kicks Off
The earnings season for the second quarter of FY2025-26 officially began today with the announcement of results from IT bellwether Tata Consultancy Services (TCS).
TCS Q2 FY26 Results:
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Net Profit: TCS reported a net profit of ₹12,075 crore, a modest increase of 1.4% year-on-year, which fell short of market expectations.
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Revenue: Revenue from operations came in at ₹65,799 crore, up 2.4% year-on-year. In constant currency terms, revenue grew by 0.8% sequentially.
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Dividend: The company announced a second interim dividend of ₹11 per equity share.
Other companies that announced their results today include Tata Elxsi and G.M. Breweries.
Major News and Market Events
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Stock-Specific Action: Usha Martin was a top performer, with its shares hitting an all-time high of ₹481 after a remarkable surge of nearly 8%.
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National & International Updates:
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Prime Minister Narendra Modi inaugurated the first phase of the Navi Mumbai International Airport.
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British Prime Minister Keir Starmer arrived in India for a two-day visit to strengthen bilateral ties following the new UK-India free trade pact.
IPO Market Update
The primary market remained active with a major IPO opening for subscription, and the allotment of another being finalised.
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Rubicon Research IPO Opens: The IPO of pharmaceutical firm Rubicon Research opened for subscription today. The company aims to raise ₹1,377.50 crore through the issue, which has a price band of ₹461-₹485 per share.
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Tata Capital IPO Allotment: The allotment for the highly anticipated Tata Capital IPO is being finalised today, October 9. The grey market premium (GMP) suggests a modest listing gain of around 1-2%.
Global Market Summary
Global markets showed a mixed but generally positive trend.
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Global Stocks: Asian markets, particularly Japan's Nikkei, posted strong gains, tracking the positive momentum from U.S. tech stocks. However, Hong Kong's Hang Seng ended lower.
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Commodities: Gold prices remained firm, trading near record highs, while Brent crude saw a slight decline.
Frequently Asked Questions (FAQs)
Why did the stock market rally today?
The market's rally was driven by a combination of factors, including a rebound in IT stocks ahead of the earnings season, strong performance by the metal sector, and positive global cues from U.S. tech stocks.
How were TCS's Q2 results?
TCS reported a 1.4% year-on-year increase in net profit to ₹12,075 crore, which was slightly below market expectations. The company also announced an interim dividend of ₹11 per share.
What's new in the IPO market?
The IPO of Rubicon Research opened for subscription today, while the allotment for the Tata Capital IPO is being finalised. The IPO market is gearing up for several more big issues in the coming weeks.
What is the current global market sentiment?
Global markets are cautiously optimistic. While there are concerns about the U.S. government shutdown, positive sentiment around AI and technology stocks is providing support to the markets.