Stock Market Today: Sensex Surges 0.79% to 85,091, Nifty at 26,055, IT Stocks Shine, Banks Rally

Overview:

• Sensex rose 665 points to 85,091.33, and Nifty rose 187 points to 26,055.95.

• Infosys jumped 4.74%, HCL Tech soared 3.55%, and TCS rose 2.73%, making the IT sector the top performer.

• Banking, FMCG, and midcap stocks were resilient, indicating investor confidence in the wake of robust quarterly results.

Indian stock market today showed investor optimism with all major benchmarks trading higher. Sensex rose by 664.99 points or 0.79% to 85,091.33. Nifty 50 also rose by 187.35 points to 26,055.95, up 0.72 % during the day. Banking stocks also did well, with Nifty Bank rising 519.15 points to 58,526.35, logging a rise of 0.89 %. The best performer was Nifty IT index, which rose 2.88 % or 1,016 points to 36,315.75. Let’s see how the stocks and stock market performed today based on Moneycontrol Live Updates.

IT Sector Steals the Show

Technology stocks were the biggest gainers in the day's share market updates. Infosys topped the IT pack with a stunning 4.74 % surge to close at Rs. 1,542.20, becoming the Nifty 50's largest gainer. HCL Technologies was not far behind, advancing 3.55% to Rs. 1,538.70 after a strategic tie-up with Dubai Islamic Bank (DIB) to accelerate artificial intelligence adoption across the bank's ecosystem.

TCS shares were also part of the rally, increasing 2.73 % to Rs. 3,088.90, and were a major contributor to the IT industry's big gain. The technology stocks were among the most traded stocks, and Infosys experienced trading volumes worth Rs. 1,621.36 crore.

Banking Stocks Drive Trading Activity

HDFC Bank continued to be the top active stock on the NSE with a value of Rs. 1,671.04 crore, although it registered a small gain of 0.33% to Rs. 1,011. ICICI Bank shares surged 0.31 % to Rs. 1,386.30, with turnover volumes amounting to Rs. 877.71 crore. Axis Bank was among the biggest gainers in the banking sector. The stock rose 2.93 % to Rs. 1,273.50. The resilience in banking stocks indicates sustained investor optimism in the financial segment.

Consumer Goods and Mid-Cap Stocks

Hindustan Unilever soared 3 % in its Q2 net profit at Rs. 2,690 crore against Rs. 2,612 crore year-on-year. The stock moved in the right direction, going 1.84% higher to Rs. 2,640. The company recorded trade volumes of 47,520 shares, although this was 25.96 % below its five-day average. BSE Midcap index gained 0.4% whereas the smallcap index stayed flat with a minor loss of 0.09%. With the exception of consumer durables, all other sectoral indices traded in green, indicating broad-based strength in the stock market today.

Also Read: HUL Q2 Results Preview: FMCG Sector Insights and Investor Outlook

Top Gainers and Losers on Nifty 50

Besides IT stocks, Shriram Finance rose 2.83% to Rs. 714.90, becoming one of the top gainers. Conversely, Muthoot Finance was the top loser, down 3.83% to Rs. 3,149.30. Hindustan Petroleum dipped 3.51% to Rs. 439.40, with NMDC shedding 2.54% to Rs. 73.69.

Strong Quarterly Results Lift Stocks

A few firms reported better-than-expected quarterly results, which propelled their shares higher. Epack Prefab Technologies reported its Q2 consolidated profit jumped 104% to Rs. 29.5 crore from Rs. 14.4 crore year-on-year. Its share went up 16.65% to Rs. 237.15, reaching an intraday high of Rs. 242.35, a 52-week high.

Jain Resource Recycling posted a 77% increase in Q2 profit at Rs. 99.2 crore, with revenue growing 51% to Rs. 2,113.7 crore. The stock rose 3.67% to Rs. 368.85 and also reached a 52-week high of Rs. 388.15.

Currency and Commodity Movements

Indian rupee edged higher at 87.90 per dollar from October 20’s close of 87.93. Gold also retreated for the third day from record highs, with spot gold falling to about $4,090 an ounce.

Oil prices surged more than 2 % after the United States hit Russian oil majors Rosneft and Lukoil with sanctions. Brent crude futures climbed 2.81% to $64.35, while WTI crude climbed 2.87% to $60.18.

FII and DII Activity

Foreign Institutional Investors (FII) were in a positive mood with a net purchase of Rs. 96.72 crore on October 21, while Domestic Institutional Investors (DII) sold a net worth of Rs. 607.01 crore. The breadth of the market was positive with 1,447 rising shares compared to 1,303 falling shares on the NSE.

Also Read: Stock Market Update: Nifty 50, Sensex Set for Strong Opening Amid India-US Trade Deal Optimism

Market Outlook

Indian stock market today showed cautious optimism, with robust earnings from IT and banking shares boosting investor sentiment. At the same time, global influences such as US inflation data and crude price volatility may drive short-term movements. Nifty is likely to continue in an uptrend, with 25,900 being a strong support zone. Analysts hint at a bullish outlook in the long run. Investors need to keep an eye on global cues to gauge the market’s next direction. 

FAQs

1. Why did Sensex and Nifty go up today?

Sensex and Nifty rose on the back of robust IT and banking stock performances. Positive worldwide cues, good quarterly earnings, and renewed FII demand fueled market sentiment and investor optimism.

2. What sectors led the rally in today’s stock market? 

The main sectors leading the charge were the IT space, which included Infosys, TCS, and HCL Tech, with banking and FMCG stocks supporting. Axis Bank and Hindustan Unilever demonstrated broad leadership.

3. What were the best-performing stocks of Nifty 50 today?  

Infosys rose the most at +4.74%, with HCL Tech and TCS close behind. Axis Bank and Shriram Finance increased in concert, supported by solid earnings and positive investor sentiment.

4. How did domestic and foreign investors trade today?

Foreign Institutional Investors (FIIs) were net buyers, buying Rs96.72 crore worth of equities on October 21, whereas Domestic Institutional Investors (DIIs) offloaded stocks worth Rs607.01 crore.

5. What should you look out for in the Indian stock market this week?

Experts see near-term consolidation with investors holding out for US inflation data. Nevertheless, robust earnings, good liquidity, and sectoral rotation may help sustain market stability in the subsequent sessions.