Sensex jumps 565 points, Nifty holds above 22,500; IT stocks lead gains

The key equity benchmarks continued to trade higher in afternoon trade, with the Nifty holding above 22,500, supported by strong buying in IT stocks following HCLTech?s Q2 results. Sentiment was also supported by a stronger rupee following recent Reserve Bank of India measures and a decline in Brent crude prices, although oil remained above $100 a barrel. Investors remained focused on the September-quarter earnings season, global market cues, upcoming US inflation data and foreign institutional investor (FII) flows.

At 13:20 IST, the S&P BSE Sensex jumped 565.17 points or 0.79% to 72,489.85. The Nifty 50 index rose 177.80 points or 0.80% to 22,541.15.

HCL Technologies (up 7.45%), Tata Consultancy Services (up 5.88%) and Tech Mahindra (up 4.34%) were the top gainers on the Nifty 50.

On the losing side, Kotak Mahindra Bank fell 1.04%, Max Healthcare Institute declined 0.92% and Maruti Suzuki India shed 0.87%.

In the broader market, the BSE 150 Midcap Index rose 0.01% and the BSE 250 Smallcap Index declined 0.61%.

The market breadth was negative. On the BSE, 1,805 shares rose and 2,337 shares fell. A total of 269 shares were unchanged.

Buzzing Segment:

The Nifty Auto index rose 0.44% to 25,195.10. Bajaj Auto (up 2.58%), Hyundai Motor India (up 1.04%), Bharat Forge (up 0.92%), Samvardhana Motherson International (up 0.88%) and Mahindra & Mahindra (up 0.85%) were the top gainers.

Other stocks that advanced included Sona BLW Precision Forgings (up 0.73%), Ashok Leyland (up 0.68%), TVS Motor Company (up 0.59%), Hero MotoCorp (up 0.17%) and Bosch (up 0.13%).

On the losing side, Tube Investments of India fell 2.76%, followed by Maruti Suzuki India (down 0.93%) and Eicher Motors (down 0.38%).

Stocks in Spotlight:

Indian Bank jumped 2.22% after the public sector lender announced that its board will meet on 15 October 2026, to consider a fund-raising plan.

Polycab India fell 2.81% after the National Stock Exchange (NSE) announced that the stock would be excluded from the futures and options (F&O) segment with effect from 30 December 2026.

Global Market:

Dow Jones futures were up 244 points on Tuesday, indicating a positive opening for US stocks, as investors assessed the technology-led selloff, upcoming inflation data and the start of the third-quarter earnings season.

European shares opened higher on Tuesday, showing resilience despite the global technology selloff. European equities have less exposure to large, pure-play AI technology companies than the Nasdaq and Asian semiconductor markets, leaving them less vulnerable to concerns over elevated AI valuations and intensifying competition in the chip industry.

Asian markets were mixed, with South Korean technology stocks extending losses amid concerns over intensifying Chinese competition in the semiconductor industry. Samsung Electronics and SK Hynix came under pressure after reports that China?s ChangXin Memory Technologies (CXMT) was advancing its higher-density DRAM technology, raising concerns about competition in the global memory-chip market.

Chinese automakers also faced pressure after September retail sales weakened, while investors assessed elevated crude oil prices, geopolitical tensions and the outlook for global economic growth. South Korean equities faced additional concerns over the possibility of higher interest rates to narrow the gap with US rates, amid persistent household debt and default risks.

Wall Street ended mixed on Monday as investors awaited corporate earnings and key US economic data. The Dow Jones Industrial Average gained 195.60 points, or 0.38%, to close at 51,850.55. The S&P 500 fell 4.30 points, or 0.06%, to 7,807.24, while the Nasdaq Composite declined 120.27 points, or 0.44%, to 27,245.90. Technology and semiconductor stocks weighed on the broader market, while energy shares benefited from higher oil prices.

Crude oil prices remained elevated amid concerns over global energy supplies following attacks on Saudi Arabia and uncertainty surrounding a proposed Russia-Ukraine energy truce. Oil prices and geopolitical developments remain key factors for investors, given their potential implications for inflation and central-bank policy.

Investors are focused on the September US Consumer Price Index (CPI), scheduled for Wednesday, 14 October, followed by the Producer Price Index (PPI) and retail sales data on Thursday, 15 October. The readings will be closely watched for their implications for the Federal Reserve?s monetary policy, particularly as higher energy costs risk prolonging inflationary pressures.

The US third-quarter earnings season is also gathering pace, with major banks, including JPMorgan Chase, Goldman Sachs, Citigroup and Wells Fargo, due to report results this week. Investors will assess the results for signals on consumer spending, lending demand, credit quality and the broader economic outlook.

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