In short: Indian markets rallied sharply on Thursday. The Sensex jumped 1,533.72 points (+2.11%) to 74,315.61 and the Nifty 50 rose 374.65 points (+1.66%) to 22,997.35, just below 23,000. IT stocks, a 2% fall in crude oil and a firmer rupee drove the rally, while mid and small caps lagged.
Today at a glance
Index
Close
Change (pts)
Change (%)
Nifty 50
22,997.35
+374.65
+1.66%
Sensex
74,315.61
+1,533.72
+2.11%
Bank Nifty
55,810.50
+494.50
+0.89%
Broader market
Change (%)
Nifty Midcap 100
−0.36%
Nifty Smallcap 100
−1.31%
Market breadth: 41 of the 50 Nifty stocks rose, but the broader market fell: a large-cap-led rally.
Sector performance
Sector
Change (%)
Nifty IT
+1.82%
Financial Services
+1.67%
Nifty Auto
+1.67%
Nifty Realty
+0.72%
Nifty Pharma
+0.31%
Nifty Metal
+0.10%
Consumer Durables
−0.27%
Nifty Energy
−0.79%
Nifty FMCG
−1.06%
Nifty PSU Bank
−1.55%
Top gainers and losers (Nifty 50)
Top gainers
Close (₹)
Change (%)
Tech Mahindra
1,650.00
+4.75%
ICICI Bank
1,389.40
+3.80%
Reliance Industries
1,215.00
+3.44%
Bharti Airtel
1,854.00
+3.31%
Top losers
Close (₹)
Change (%)
Nestle India
1,275.80
−7.76%
Adani Enterprises
2,700.00
−0.83%
Trent
2,949.70
−0.72%
Shriram Finance
943.80
−0.65%
Why the market rallied
IT strength: Nifty IT rose for a third straight day after strong HCL Tech numbers earlier in the week; Tech Mahindra led the Nifty.
US tech selloff: The hot US inflation print hit Nasdaq and AI stocks. Analysts see this as a reason foreign investors may slow their selling of Indian stocks.
Crude lower: Brent fell about 1.6% to around $104 a barrel.
Rupee firmer: The rupee gained 31 paise to 94.86 per dollar after RBI measures.
Results update
Company
Key number
Note
Wipro (Q2 FY27)
Net profit ₹3,200.6 crore
−1.41% YoY; revenue ₹24,750 crore, +9.1% YoY
Wipro guidance (Q3)
−1.5% to +0.5% QoQ
IT services revenue, constant currency: muted outlook
Nestle India
Stock −7.76%
Biggest Nifty loser after its Q2 results
What to watch in Wipro: profit dipped and large-deal bookings fell 58.6% QoQ, while the Q3 guidance range includes a decline. Expect the stock to react on Friday.
Money flow
Measure
Latest
Note
FII flow (14 Oct)
−₹1,857 crore
Selling continued before today's rally
DII flow (14 Oct)
+₹2,670 crore
Domestic buying continues
Rupee
94.86 per $
+31 paise
Key levels for Friday, 16 October
23,056, 56,065 and 74,330 are today's highs; 23,130 is the top of the next resistance zone. Yesterday's resistance zones (22,760–22,850 on Nifty, 55,540 on Bank Nifty) now act as support.
Index
Close
Resistance
Support
Nifty 50
22,997
23,056, then 23,130
22,850, then 22,760
Bank Nifty
55,811
56,065
55,540, then 55,170
Sensex
74,316
74,330
73,500, then 73,000
How to read them: Nifty needs to clear today's high of 23,056 to extend the rally towards 23,100–23,130. A slip below 22,850 would mean today's breakout is losing strength.
Weekly levels (week of 12–16 October)
Nifty has moved above last week's high (22,776). A weekly close above 22,800 on Friday would confirm the weekly breakout.
Index
Weekly pivot
Weekly resistance
Weekly support
Nifty 50
22,490
23,090
22,800, then 22,200
Bank Nifty
55,250
56,000
55,500, then 54,800
Stocks to watch on Friday
Volume surge (unusual activity today)
Watch whether these stocks hold today's gains; a big-volume jump that fades the next day is a warning sign.
Stock
Move today
Volume vs average
Jai Corp
+13.75%
161×
Godavari Biorefineries
+2.86%
191×
Shoppers Stop
+0.20%
658× (results on Friday)
Leela Palaces Hotels
+10.00% (approx.)
Hit a new high on Q2 results
Billionbrains Garage (Groww)
+3.04%
1.8×
Weakness watch (stocks under pressure)
Stock
Move today
Why it is on the list
YES Bank
−13.92%
Supreme Court upheld quashing of ₹8,415 crore AT-1 bond write-off; fell up to ~20% intraday
Nestle India
−7.76%
Biggest Nifty loser after Q2 results
IDBI Bank
−7.54%
Fell after its Fairfax deal was finalised; reversed Wednesday's volume jump
Canara Bank
−6.18%
PSU banks weakest sector (−1.55%)
MRPL
−5.35%
5.4× normal volume
Stocks in news for Friday (results and events)
Result figures as reported by Upstox, Business Today and Multibagg; check company filings on NSE/BSE before relying on any number.
Stock
What happened
Why it is on the list
Wipro
Q2 profit −1.4% YoY; Q3 guidance −1.5% to +0.5%
Results came after market hours; first reaction on Friday
Tech Mahindra
Q2 profit +8.2% QoQ to ₹1,586 crore
Top Nifty gainer today (+4.75%)
Persistent Systems
Q2 profit fell about 27%
Reaction on Friday
Indian Bank
Q2 profit +15% YoY to ₹3,462 crore
PSU bank results
Tata Communications
Q2 profit up over 86%
Strong profit jump
HDFC Life, Jio Financial, Polycab, HDFC AMC, Angel One
Reported Q2 results on Thursday
Check the numbers before the open
LTM, Federal Bank, Bajaj Housing Finance, Oberoi Realty, Crompton, Urban Company
Q2 results on Friday
Can move sharply on their numbers
Events to watch
Friday, 16 Oct: results from LTM, Federal Bank, Oberoi Realty and Bajaj Housing Finance. Wipro and Nestle India react to their results.
Saturday, 17 Oct: HDFC Bank, ICICI Bank and Axis Bank results: the biggest trigger for Monday.
FII flows: whether foreign investors slow their selling after the US tech selloff.
Pokharna Research view
A strong, large-cap-led rally took Nifty to the 23,000 doorstep, but small caps fell, so the move was narrow. The 23,056–23,130 zone is the next hurdle; holding above 22,850 keeps the breakout intact. Saturday's bank results set the tone for next week.
This report is educational and informational. It is not investment advice, and nothing here is a call to trade any security or index. Pokharna Research does not claim SEBI registration.
Disclosure: This content is for general information and education only. It is not investment advice or a recommendation to buy or sell any security. Please check facts against primary sources before relying on them. Pokharna Research does not claim SEBI registration.
