Stock Market Today, 16 October 2026: Sensex Rises 414 Points, Nifty Closes Above 23,100 as IT Stocks Rally

The Indian stock market ended higher on 16 October 2026, with the BSE Sensex gaining 413.66 points to close at 74,729.27 and the Nifty 50 rising 148.80 points to 23,146.15. IT stocks led the rally, with Tech Mahindra surging 8.48%, followed by strong gains in TCS and Infosys.

However, the recovery was not broad-based. Bank Nifty gained just 0.06%, while the Nifty Midcap 100 declined 0.11%. Apart from IT earnings, investors tracked Wipro's quarterly results, YES Bank's AT1 bond developments and the upcoming Rs 30,213 crore Jio Platforms IPO.

Stock Market Today: Sensex, Nifty and Bank Nifty Closing

Indian benchmark indices extended Thursday's recovery, with the Nifty 50 closing above 23,100 and the Sensex finishing above 74,700.

The gains were primarily driven by large-cap technology stocks, while banking shares showed limited movement.

Index	Closing level	Change
BSE Sensex	74,729.27	+413.66 (+0.56%)
Nifty 50	23,146.15	+148.80 (+0.65%)
Bank Nifty	55,844.00	+33.50 (+0.06%)

Source: Finology Ticker Stock Market Dashboard

The Nifty 50 had closed at 22,997.35 on 15 October, meaning Friday's advance helped it sustain levels above 23,000. Meanwhile, the Sensex added to Thursday's substantial 1,533.72-point rally.

The difference between the Nifty 50's 0.65% gain and Bank Nifty's 0.06% rise highlights the concentration of buying in selected sectors rather than an equally strong recovery across the market.

Why Did the Stock Market Rise Today?

The Indian stock market rose on 16 October 2026 mainly because of strong buying in IT stocks following the latest Q2 FY27 earnings announcements. The Nifty IT index gained 3.92%, substantially outperforming the Sensex, Nifty 50 and Bank Nifty.

Four developments supported market sentiment.

1. IT stocks rallied after quarterly earnings

Technology stocks were the biggest contributors to Friday's gains.

Tech Mahindra surged 8.48% after reporting higher revenue, profit and operating margins for the September quarter. The company also recommended a 1:1 bonus issue and declared an interim dividend.

Tata Consultancy Services (TCS) gained 4.89%, while Infosys advanced 4.61%.

Wipro also rose 5.95% on the NSE despite reporting a year-on-year decline in net profit, as investors assessed its revenue performance and operating margins.

2. Metal, auto and PSU banking stocks gained

Buying was not restricted entirely to IT companies.

The Nifty Metal index advanced 0.95%, Nifty Auto rose 0.75%, and Nifty PSU Bank gained 0.67%.

However, these gains were considerably smaller than the IT sector's performance.

3. Crude oil prices eased

Moderation in crude oil prices provided some support to market sentiment.

Brent crude traded near $105.4 per barrel during the session. Although prices had eased, they remained elevated, keeping energy import costs and inflation risks relevant for Indian investors.

4. Global sentiment and bond yields provided support

Improved global market sentiment and some moderation in bond yields also supported equities.

Nevertheless, elevated crude oil prices, global interest rate uncertainty and foreign institutional selling remained important market risks.

The main takeaway is that Friday's rally was driven primarily by IT earnings and selected sectoral gains, rather than uniform buying across Indian equities.

Nifty 50 Today: Top Gainers and Losers

The Nifty 50 closed at 23,146.15, gaining 0.65%. Technology companies dominated the list of top gainers, while aviation, healthcare, consumer and financial stocks were among the laggards.

Top 5 Nifty 50 Gainers (16 October 2026)

Tech Mahindra was the biggest Nifty 50 gainer, followed by TCS and Infosys. Bharti Airtel and Mahindra & Mahindra also recorded gains of more than 2%.

Stocks	Share Price and Change
Tech Mahindra	₹1,790.00 (+8.48%)
TCS	₹2,465.00 (+4.89%)
Infosys	₹1,161.20 (+4.61%)
Bharti Airtel	₹1,905.00 (+2.75%)
Mahindra & Mahindra	₹2,920.90 (+2.07%)

Tech Mahindra's sharp rise followed its September-quarter financial performance and shareholder distribution announcements.

The gains in TCS and Infosys reinforced the broader recovery in technology stocks.

Top 5 Nifty 50 Losers (16 October 2026)

InterGlobe Aviation, the operator of IndiGo, was the biggest loser in the Nifty 50, declining 1.91%.

Stock	Share Price and Change
InterGlobe Aviation (IndiGo)	₹4,686.90 (-1.91%)
BSE	₹3,363.00 (-1.90%)
Max Healthcare	₹846.00 (-1.40%)
Tata Consumer Products	₹978.90 (-1.27%)
Jio Financial Services	₹216.25 (-1.26%)

The decline in selected financial, healthcare and consumer stocks showed that positive benchmark returns did not translate into gains across all large-cap companies.

Source: Finology Ticker Nifty 50.

Sensex Today: Top Gainers and Losers

The BSE Sensex rose 0.56% to 74,729.27, supported mainly by its IT constituents.

Tech Mahindra, TCS, Infosys, Bharti Airtel and Mahindra & Mahindra were the five leading Sensex gainers, with increases of 8.48%, 4.89%, 4.61%, 2.75% and 2.07%, respectively.

These were the same five stocks that led the Nifty 50 gainers' list.

Top 5 Sensex Losers (16 October 2026)

Despite the positive close, some heavyweight companies ended lower.

Stock	Share Price and Change
IndiGo	₹4,686.90 (-1.91%)
Bharat Electronics	₹376.85 (-0.93%)
Asian Paints	₹2,331.90 (-0.77%)
Tata Steel	₹175.50 (-0.51%)
Reliance Industries	₹1,211.20 (-0.31%)

Reliance Industries, Tata Steel and Asian Paints declined even as the benchmark finished higher.

This divergence illustrates how gains in a few influential stocks can support a market-capitalisation-weighted index despite weakness elsewhere.

Source: Finology Ticker BSE Sensex.

Bank Nifty Today: PSU Banks Gain While YES Bank Falls

Bank Nifty ended at 55,844.00, rising only 33.50 points or 0.06%.

Public sector banks such as Punjab National Bank, Bank of Baroda and Canara Bank recorded gains, but weakness in selected private-sector banking stocks limited the index's advance.

Top 5 Bank Nifty Gainers (16 October 2026)

Bank	Share Price and Change
Punjab National Bank	₹116.30 (+1.09%)
Bank of Baroda	₹230.40 (+1.05%)
Canara Bank	₹118.29 (+1.00%)
Federal Bank	₹338.00 (+0.90%)
ICICI Bank	₹1,397.00 (+0.55%)

Punjab National Bank led the banking gainers with a 1.09% rise, followed by Bank of Baroda and Canara Bank.

Top 5 Bank Nifty Losers (16 October 2026)

Bank	Share Price and Change
YES Bank	₹17.50 (-3.42%)
AU Small Finance Bank	₹989.40 (-1.33%)
IDFC First Bank	₹78.08 (-1.25%)
IndusInd Bank	₹877.00 (-0.95%)
Union Bank of India	₹171.68 (-0.58%)

YES Bank was the biggest banking loser in the displayed list, extending its decline after the Supreme Court's ruling related to its earlier AT1 bond write-off.

For investors, the banking sector's performance is particularly important because it indicates that Friday's market recovery was not accompanied by similarly strong buying across financial institutions.

Source: Finology Ticker Nifty Bank

Sectoral Performance Today: IT Leads, FMCG Declines

The Nifty IT index was the strongest major sectoral performer on 16 October, rising 3.92% to 31,924.10.

Metal, auto and PSU banking indices also finished higher, while FMCG and mid-cap stocks remained under pressure.

Sector or Index	Closing Level and Change
Nifty IT	31,924.10 (+3.92%)
Nifty Metal	12,133.20 (+0.95%)
Nifty Auto	25,768.50 (+0.75%)
Nifty PSU Bank	8,094.95 (+0.67%)
Nifty FMCG	44,616.15 (-0.39%)
Nifty Midcap 100	59,129.75 (-0.11%)

What does the sectoral performance indicate?

Three trends stand out from Friday's market activity.

• IT outperformance: The Nifty IT index gained almost 4%, compared with the Nifty 50's 0.65% increase, reflecting the sector's stronger earnings-driven momentum.

• Limited banking participation: Bank Nifty rose only 0.06%, even though PSU banking stocks performed relatively better.

• Weakness in the broader market: The Nifty Midcap 100 declined 0.11%, indicating that the rally was not equally visible among mid-cap companies.

FMCG was another weak area, with its sector index declining 0.39%.

Overall, large-cap technology companies remained the main source of strength in the market.

Top Gainers and Losers in the Broader Market

Beyond the Sensex and Nifty 50, several individual stocks recorded much sharper price movements.

Some stocks gained close to 20%, while others declined by double digits.

Top Gainers in the Indian Stock Market (16 October 2026)

Stocks	Share Price and Change
Comfort Intech	₹7.74 (+20.00%)
Datakosa	₹16.38 (+20.00%)
Onward Technologies	₹427.60 (+19.99%)
Infrax Renewable	₹175.65 (+19.98%)
Euro Pratik Sales	₹192.80 (+19.98%)
Pecos Hotels & Pubs	₹193.95 (+19.72%)
Tamboli Industries	₹362.75 (+19.72%)

Comfort Intech and Datakosa topped the broader-market gainers with increases of 20% each.

Onward Technologies also attracted attention, rising 19.99% following its quarterly earnings announcement.

Its financial performance included higher revenue, profit and EBITDA, along with improved operating margins.

Top Losers in the Indian Stock Market (16 October 2026)

Stocks	Share Price and Change
Amal	₹752.40 (-20.00%)
Peshwa Wheat	₹53.20 (-20.00%)
Shreeshay Engineers	₹23.30 (-18.25%)
OCCL	₹195.85 (-13.49%)
Cyient DLM	₹901.00 (-12.24%)
Sharpline Broadcast	₹8.80 (-11.11%)
Ravi Kumar Distilleries	₹16.50 (-10.33%)

Amal and Peshwa Wheat recorded the steepest declines in the selected list, falling 20% each.

Cyient DLM and OCCL also faced significant selling pressure.

These sharp stock-specific movements highlight that individual company performance can differ substantially from broader benchmark trends.

Source: Finology Ticker Top Losers.

Stocks at 52-Week Highs and Lows Today

Several companies appeared on the 52-week high and low lists on 16 October, highlighting different trends across individual stocks.

Stocks at 52-Week Highs (16 October 2026)

The following stocks appeared on the 52-week high list, along with their share prices and intraday highs.

Stock Prices

Stocks	Share Price
Kotak Mahindra Bank	₹446.00
PC Jeweller	₹16.28
Karur Vysya Bank	₹355.30
Indian Hotels Company	₹772.00
PVR INOX	₹1,403.30
Laurus Labs	₹2,059.00

Day High Prices

Stocks	Day High
Kotak Mahindra Bank	₹453.00
PC Jeweller	₹17.13
Karur Vysya Bank	₹365.85
Indian Hotels Company	₹776.25
PVR INOX	₹1,426.00
Laurus Labs	₹2,086.00

The selected 52-week high list included banking, jewellery, hospitality, entertainment and pharmaceutical companies.

Their presence indicates strength in individual stocks despite the relatively narrow broader market rally.

Source: Finology Ticker 52-Week High.

Stocks at 52-Week Lows (16 October 2026)

The following stocks appeared on the 52-week low list, along with their share prices and intraday lows.

Stock Prices

Stock	Share Price
Max Healthcare	₹845.00
HDB Financial Services	₹512.70
Avenue Supermarts	₹3,342.00
Max Financial Services	₹1,293.95
Alkem Laboratories	₹5,054.60
Swiggy	₹234.05

Day Low Prices

Stock	Day Low
Max Healthcare	₹842.25
HDB Financial Services	₹507.00
Avenue Supermarts	₹3,322.90
Max Financial Services	₹1,263.05
Alkem Laboratories	₹5,042.55
Swiggy	₹228.50

The 52-week low list included companies from healthcare, financial services, retail and consumer-facing businesses.

Max Healthcare, Avenue Supermarts and Swiggy were among the notable names.

Source: Finology Ticker 52-Week Low.

Note: These are selected entries from the 52-week high and low lists. The second price column shows the day's intraday high or low, not necessarily the exact 52-week extreme. Prices displayed across market lists may also differ slightly because of snapshot timing.

Important Stock Market News Today: 16 October 2026

Apart from benchmark movements, quarterly earnings announcements, corporate actions and regulatory developments influenced several individual stocks.

The most important company-specific developments involved Tech Mahindra, Wipro, Onward Technologies and YES Bank.

Tech Mahindra Q2 FY27 Results: Profit Rises 32.7%, 1:1 Bonus Proposed

Tech Mahindra was one of the biggest stories in the Indian stock market on Friday.

The company reported a 32.7% year-on-year increase in consolidated profit after tax to Rs 1,586 crore, while revenue rose 15.6% to Rs 16,180 crore in Q2 FY27.

Its EBIT margin reached 14.8%, reflecting an improvement in operating profitability.

Tech Mahindra Q2 FY27 financial highlights

Financial metric	Q2 FY27
Revenue	Rs 16,180 crore
Revenue growth YoY	+15.6%
Profit after tax	Rs 1,586 crore
PAT growth YoY	+32.7%
EBIT	Rs 2,387 crore
EBIT margin	14.8%
New deal wins (TCV)	$1.023 billion
Interim dividend	Rs 15 per share

The company also recommended a 1:1 bonus issue, under which eligible shareholders would receive one additional equity share for every share held, subject to the required approvals.

The bonus record date had not been announced as of 16 October 2026.

For investors, the key developments were:

• Double-digit revenue and profit growth.

• EBIT margin improvement to 14.8%.

• New deal wins worth more than $1 billion.

• A proposed 1:1 bonus issue and an interim dividend of Rs 15 per share.

Tech Mahindra shares gained 8.48% to Rs 1,790, making the company the top gainer in both the Nifty 50 and Sensex lists.

The next important factors are the sustainability of operating margins, conversion of deal wins into revenue and further progress in business profitability.

Also Read Tech Mahindra Q2 FY27 Results Analysis in Detail

Wipro Q2 FY27 Results: Revenue Grows 9.1%, Net Profit Falls 1.9%

Wipro reported year-on-year revenue growth in the September quarter, although net profit declined.

The company's gross revenue rose 9.1% to approximately Rs 24,750 crore, while net income fell 1.9% to around Rs 3,200 crore.

Its IT services operating margin stood at 16.5%.

Wipro Q2 FY27 financial highlights

Financial metric	Q2 FY27
Gross revenue	Approx. Rs 24,750 crore
Revenue growth YoY	+9.1%
Net income	Approx. Rs 3,200 crore
Net income growth YoY	-1.9%
IT services operating margin	16.5%
Total bookings	$2.595 billion
Large-deal bookings	$674 million
Q3 IT services revenue guidance (CC, QoQ)	-1.5% to +0.5%

One important concern was the decline in large-deal bookings.

Wipro reported large-deal bookings of $674 million, down 58.6% quarter-on-quarter in constant currency.

This is relevant because new deal bookings can provide an indication of future business activity, although the timing of their conversion into revenue can vary.

Despite the decline in net profit and large-deal bookings, Wipro shares gained 5.95% to Rs 184.40 on the NSE.

The main indicators to monitor are future bookings, revenue growth, operating margins and management's quarterly guidance.

Also Read Wipro Q2 FY27 Results Analysis in Detail

Onward Technologies Q2 FY27: Shares Jump Nearly 20% After Results

Onward Technologies was among the strongest performers in the broader market, with its share price rising 19.99% to Rs 427.60.

The company's September-quarter results showed growth across revenue, profitability and operating earnings.

Key reported figures included:

• Revenue from operations of approximately Rs 170.2 crore, up 22.4% YoY.

• Net profit of around Rs 17 crore, reflecting approximately 41.7% growth based on rounded reported figures.

• EBITDA of approximately Rs 26.6 crore.

• EBITDA margin of 15.6%.

The results indicate that operating earnings grew faster than revenue, supporting margin expansion.

For investors tracking Onward Technologies, the important question is whether the improvement in revenue growth and operating profitability continues over subsequent quarters.

YES Bank Shares Fall After Supreme Court's AT1 Bond Ruling

YES Bank shares declined 3.42% to Rs 17.50 on 16 October, extending the previous session's sharp losses.

The decline followed the Supreme Court's decision upholding the invalidation of the bank's earlier Rs 8,415 crore Additional Tier 1 (AT1) bond write-off.

The bonds had been written off during YES Bank's 2020 restructuring.

Following the ruling, YES Bank indicated that reinstating the bonds could have a pro forma impact of approximately 250 basis points on its Common Equity Tier 1 (CET1) capital ratio.

CET1 represents a bank's core regulatory capital and is an important indicator of its financial strength.

The potential reduction in this ratio has raised concerns about the bank's capital position.

Investors should monitor the bank's subsequent regulatory disclosures, capital adequacy position, the implementation of the court ruling and its upcoming financial results.

IPO News Today: Subscription Updates and Upcoming Issues

The Indian primary market remained active on 16 October 2026, with several IPOs open for bidding and two issues reaching their subscription closing date.

Fusion CX and Ravita Engineering Services closed for subscription on Friday, while five other issues were scheduled to remain open until 19 October.

IPO subscription status on 16 October 2026

The following figures represent provisional subscription snapshots compiled from exchange bidding data.

IPO Price Bands

IPO	Price Band
Fusion CX	₹275-289
Ravita Engineering Services (SME)	₹105-112
Tonbo Imaging India	₹665-700
Bonfiglioli Transmissions	₹558-586
Sahajanand Medical Technologies	₹327-344
Zetwerk Manufacturing Businesses	₹143-151
Shellz India (SME)	₹170-179

IPO Subscription and Closing Dates

IPO	Subscription and Closing Date
Fusion CX	4.67x (16 Oct)
Ravita Engineering Services (SME)	7.16x (16 Oct)
Tonbo Imaging India	7.73x (19 Oct)
Bonfiglioli Transmissions	0.98x (19 Oct)
Sahajanand Medical Technologies	0.82x (19 Oct)
Zetwerk Manufacturing Businesses	0.31x (19 Oct)
Shellz India (SME)	1.05x (19 Oct)

Subscription snapshots: Approximately 4:48 PM to 4:57 PM IST, 16 October 2026. Figures are provisional and may differ from subsequently finalised exchange or registrar data.

Which IPOs attracted the highest demand?

Among the listed open mainboard issues, Tonbo Imaging India recorded the highest subscription at 7.73 times the shares available.

Fusion CX attracted 4.67 times subscription on its closing day.

Meanwhile, Ravita Engineering Services, an SME issue, recorded 7.16 times subscription.

Demand was relatively subdued for some other IPOs.

Bonfiglioli Transmissions was subscribed 0.98 times, Sahajanand Medical Technologies 0.82 times and Zetwerk Manufacturing Businesses 0.31 times.

Shellz India recorded a subscription of 1.05 times.

Subscription numbers show how many times investors have applied for the shares offered. However, high subscription levels do not guarantee listing gains, and lower subscription figures do not automatically indicate poor long-term business prospects.

Investors also need to examine the issue valuation, financial performance, use of proceeds and business risks.

Jio Platforms IPO: Rs 30,213 Crore Issue Opens on 21 October

Jio Platforms' upcoming IPO is one of the most significant developments in India's primary market calendar.

The public issue is scheduled to open on 21 October 2026 and close on 23 October 2026, with anchor investor bidding scheduled for 19 October.

At the upper price band of Rs 1,119 per share, the company plans to raise approximately Rs 30,213 crore.

Jio Platforms IPO details

IPO detail	Information
Anchor bidding date	19 October 2026
IPO opening date	21 October 2026
IPO closing date	23 October 2026
Price band	Rs 1,065-1,119
Issue size at upper band	Rs 30,213 crore
Issue structure	Entirely fresh issue
Lot size	12 shares
Minimum lot value at upper band	Rs 13,428
Expected listing date	28 October 2026

The IPO also includes reservations of up to Rs 2,500 crore for eligible Reliance Industries shareholders and Rs 500 crore for eligible employees.

Unlike an offer for sale, where existing shareholders receive the proceeds, Jio Platforms' IPO consists entirely of fresh equity shares. The proceeds from the fresh issue will therefore go to the company, subject to applicable issue expenses.

At its upper price band, Jio Platforms' offering could become India's largest IPO by issue size.

What should investors evaluate in the Jio IPO?

The key factors include the company's valuation, profitability, subscriber economics and planned use of IPO proceeds.

The issue's fresh-share structure, institutional demand, financial performance and long-term capital requirements will also be important.

Investors should distinguish between strong subscription demand and the underlying investment case, as neither subscription levels nor the scale of the IPO guarantees post-listing returns.

Also Read Jio Platforms IPO Analysis in Detail.

What Should Investors Watch After the Market Close?

The next few trading sessions will help determine whether the recovery extends beyond IT stocks and gains broader participation.

Several indicators deserve attention.

Area	What investors should monitor
Nifty 50	Whether the index sustains above 23,100
Sensex	Follow-through after closing above 74,700
IT stocks	Q2 FY27 earnings, deal bookings, margins and guidance
Banking sector	Upcoming results and YES Bank's AT1 issue
Mid-cap stocks	Whether participation broadens beyond large-cap IT
IPO market	Final subscription data, allotments and Jio Platforms IPO
FII/DII activity	Whether foreign institutional selling moderates
Global markets	Crude oil prices, US bond yields and geopolitical developments

The most important development to watch is whether the gains in IT stocks translate into broader participation across banks, consumer companies and mid-cap stocks.

Corporate earnings will remain central to stock-specific performance, particularly for companies reporting quarterly revenue, profit, margins and forward guidance.

Meanwhile, the upcoming Jio Platforms IPO and other open public issues will keep the primary market in focus.

Stock Market Today: Key Takeaways for 16 October 2026

The Indian stock market extended its recovery on Friday, but the gains were concentrated in selected sectors.

The Sensex rose 413.66 points to 74,729.27, while the Nifty 50 gained 148.80 points to 23,146.15. Bank Nifty finished almost unchanged, rising just 0.06%.

The Nifty IT index led the advance with a 3.92% gain. Tech Mahindra was the standout benchmark performer after its Q2 FY27 results and proposed 1:1 bonus issue, while TCS, Infosys and Wipro also moved higher.

Outside the benchmark indices, Onward Technologies rallied nearly 20% after its earnings, while YES Bank remained under pressure following the Supreme Court's AT1 bond ruling.

The IPO market was also active, with Tonbo Imaging recording strong subscription demand and Jio Platforms preparing for its Rs 30,213 crore public issue.

Overall, the 16 October market rally reflected improving sentiment towards IT stocks, but weaker banking, FMCG and mid-cap performance showed that the recovery was not yet broad-based.

Frequently Asked Questions (FAQs)

1. How did the stock market close today, 16 October 2026?

The Indian stock market closed higher on 16 October 2026. The Sensex gained 413.66 points, or 0.56%, to finish at 74,729.27. The Nifty 50 rose 148.80 points, or 0.65%, to 23,146.15, while Bank Nifty gained 33.50 points, or 0.06%, to close at 55,844.00.

2. Why did the Sensex and Nifty rise today?

The Sensex and Nifty rose mainly because of strong buying in IT stocks following Q2 FY27 earnings announcements. Tech Mahindra surged 8.48%, TCS gained 4.89% and Infosys rose 4.61%. The Nifty IT index advanced 3.92%, while gains in metals, automobiles and PSU banks, along with some moderation in oil prices and bond yields, supported market sentiment.

3. Which were the top gainers and losers in the Nifty 50 today?

Tech Mahindra was the top Nifty 50 gainer on 16 October 2026, rising 8.48% to Rs 1,790. Other leading gainers included TCS, Infosys, Bharti Airtel and Mahindra & Mahindra. IndiGo was the biggest loser, falling 1.91%, followed by BSE, Max Healthcare, Tata Consumer Products and Jio Financial Services.

4. Which IPOs are open, and when will the Jio Platforms IPO launch?

Fusion CX and Ravita Engineering Services closed for subscription on 16 October 2026. Tonbo Imaging India, Bonfiglioli Transmissions, Sahajanand Medical Technologies, Zetwerk Manufacturing Businesses and Shellz India were scheduled to close on 19 October. The Jio Platforms IPO is scheduled to open on 21 October and close on 23 October, with a price band of Rs 1,065-1,119.