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Amid strong support from financial heavyweights, the Indian stock market remained higher for the second consecutive session on Friday, October 10. A late recovery in tech stocks also supported the front-line indices, pushing the Nifty 50 up 0.41% to close at the 23,285 level, while the S&P BSE Sensex ended 0.40% higher at 82,500 points.

For the week, both indices recorded gains of over 1.5%, marking their biggest weekly rise in three months. The broader markets also performed well, with the Nifty Midcap 100 and Nifty Smallcap 100 indices closing 0.46% and 0.68% higher, respectively. Both indices posted strong weekly gains of up to 2%.

Among sectors, the Nifty PSU Bank index led the gains with a 1.67% surge, followed by Nifty Realty and Nifty Pharma, which rose 1.67% and 1.29%, respectively. The Nifty Auto index also extended its rally, advancing 0.50%, while the Nifty FMCG index edged up 0.47%.

On the downside, the Nifty Metal index was the top laggard, slipping 0.91%, followed by Nifty IT, which recorded a minor decline of 0.05%.

Meanwhile, the country’s leading IT services company reported its September-quarter numbers in line with Street estimates, supported by strong performance in its banking, financial services, and insurance (BFSI) segment.

The IT major also announced strategic investments, including a new business entity to build world-class AI infrastructure with a 1 GW capacity AI datacenter in India and the acquisition of a 100% stake in ListEngage.

(more to come)

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