Nifty trade above 22,350 in early trade; breadth positive
At 09:30 IST, the barometer index, the S&P BSE Sensex, jumped 401.59 points or 0.56% to 71,997.37. The Nifty 50 index rose 132.05 points or 0.59% to 22,363.85.
In the broader market, the BSE 150 MidCap Index added 0.32% and the BSE 250 SmallCap Index fell 0.03%.
The market breadth was positive. On the BSE, 1,539 shares rose and 1,536 shares fell. A total of 208 shares were unchanged.
FPIs sold shares worth Rs 32,182.50 crore in October through 8 October 2026. This follows net selling of Rs 45,536.89 crore in September 2026, while FPIs were net buyers of Rs 17,366 crore in August 2026.
Stocks in Spotlight:
Tata Consultancy Services (TCS) rose 3.52% after the IT major reported a 4.01% quarter-on-quarter (QoQ) and 14.98% year-on-year (YoY) increase in consolidated net profit to Rs 13,884 crore in Q2 FY27. Revenue rose 1.3% QoQ and 11.2% YoY to Rs 73,188 crore during the quarter. Revenue growth in constant currency (CC) stood at 0.5% QoQ. Annualised artificial intelligence (AI) revenue stood at $3.1 billion in Q2 FY27, crossing 10% of the company's revenue.
JSW Steel shed 0.49%. The steel producer reported consolidated crude steel production of 7.27 million tonnes in Q2 FY27, up 10% QoQ and 5% YoY. Production from its Indian operations stood at 7.07 million tonnes, registering 5% YoY growth. Capacity utilisation at its Indian operations stood at 88% during the quarter.
Numbers to Track:
The yield on India's 10-year benchmark federal paper fell 0.14% to 7.279 compared with the previous session close of 7.289.
In the foreign exchange market, the rupee edged higher against the dollar. The partially convertible rupee was hovering at 96.7100 compared with its close of 96.8800 during the previous trading session.
MCX Gold futures for 4 December 2026 settlement rose 0.81% to Rs 1,50,799.
The US Dollar Index (DXY), which tracks the greenback's value against a basket of currencies, was down 0.11% to 102.03.
The United States 10-year bond yield shed 0.15% to 5.221.
In the commodities market, Brent crude for December 2026 settlement declined $1.18 or 1.13% to $103.10 a barrel.
Global Markets:
Asian stock market traded mostly lower on Friday, 9 October 2026, tracking overnight losses on Wall Street as technology stocks came under pressure amid renewed concerns over the artificial intelligence (AI) boom. Markets in South Korea and Taiwan remained closed for a holiday.
US stock market ended mixed on Thursday, with the Nasdaq Composite posting its biggest one-day decline since mid-August. The Dow Jones Industrial Average gained 0.10%, while the S&P 500 fell 0.47%. The Nasdaq Composite dropped 1.25%.
Technology stocks faced heavy selling following reports that OpenAI told investors its annualised revenue was roughly $50 billion at the end of September, below the approximately $68 billion figure reported late last month. The discrepancy revived concerns over the sustainability of AI-related spending and the returns on investments in data centres and semiconductor infrastructure.
Among major technology stocks, Nvidia fell 2.94%, Advanced Micro Devices (AMD) declined 3.90%, Broadcom dropped 4.35%, Microsoft slipped 1.35%, Intel lost 5.34%, Micron Technology declined 4.79% and Oracle fell 5.5%. The broad-based weakness reflected investor caution towards technology stocks amid questions over the pace of AI-driven growth.
Investors are now looking ahead to the start of the third-quarter earnings season next week, when major U.S. banks are due to report results.
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