The Indian stock market ended with healthy gains on Thursday, October 9, on buying activity across sectors ahead of the start of the September quarter earnings season. IT heavyweight TCS will report its Q2 earnings on Thursday.
The Sensex ended 398 points, or 0.49 per cent, higher at 82,172.10, while the Nifty 50 settled with a gain of 136 points, or 0.54 per cent, at 25,181.80. The BSE Midcap and Smallcap indices ended with gains of 0.75 per cent and 0.18 per cent, respectively.
Investors earned more than ₹2 lakh crore in a single session as the cumulative market capitalisation of BSE-listed firms rose to over ₹460 lakh crore from about ₹458 lakh crore in the previous session.
Indian stock market: 10 key highlights from the day
1. Why did the Indian stock market rise today?
The Indian stock market rose on Thursday due to short covering, as the medium- to long-term outlook for the domestic market remains healthy.
Markets’ focus is on Q2 earnings, which are expected to remain modest. However, experts believe the second half of the current financial year will see a healthy earnings growth, which can drive the market to new highs.
“The Q2 FY26 earnings season is expected to be modest due to muted expectations in sectors such as finance and export-oriented sectors like IT and pharmaceuticals. However, the overall environment is forecast to reverse strongly in H2FY26, helped by a rebound in domestic demand,” said Vinod Nair, Head of Research, Geojit Investments Limited.
2. Top gainers in the Nifty 50 index today
As many as 40 stocks ended higher in the Nifty 50 index, with Tata Steel (up 2.48 per cent), JSW Steel (up 2.34 per cent), and SBI Life Insurance Company(up 2.26 per cent) as the top gainers.
3. Top losers in the Nifty 50 index
Shares of Axis Bank (down 1.06 per cent), Titan Company (down 0.61 per cent), and Tata Consumer (down 0.46 per cent) ended as the top losers in the index.
4. Sectoral indices today
All major sectoral indices ended higher, with Nifty Metal (up 2.17 per cent), IT (up 1.12 per cent), Healthcare (up 1.07 per cent), and Pharma (up 1.05 per cent) clocking healthy gains.
“Despite muted earnings expectations, the IT index moved higher as investors took comfort in attractive valuations—currently below long-term averages—and a constructive long-term outlook supported by signs of recovery in the US economy,” Nair said.
Nifty Bank and Financial Services indices rose 0.31 per cent and 0.25 per cent, respectively.
5. Most active counters in terms of volume
Vodafone Idea (73.75 crore shares), Tata Silver Exchange Traded Fund (14.4 crore shares), and Nippon India Silver ETF (12.36 crore shares) were the most active counters in terms of volume on the NSE.
6. 11 stocks jump over 15% on BSE
Jindal Photo, PlatinumOne Business Services, Nagreeka Capital & Infrastructure, Sacheta Metals, and Cubical Financial Services were among the 11 stocks that jumped by more than 15 per cent on the BSE.
7. Advance-decline ratio
Out of 4,350 stocks traded on the BSE, 2,009 advanced, while 2,191 declined. Some 150 stocks remained unchanged.
8. Over 150 stocks hit 52-week highs
As many as 155 stocks, including Eternal, JSW Steel, and Tata Steel, hit their 52-week highs in intraday trade on the BSE.
9. Nearly 150 stocks hit 52-week lows
Blue Dart Express, Clean Science and Technology, Crompton Greaves Consumer Electricals, Vedant Fashions, Signatureglobal (India), and UBL were among the 149 stocks that hit their 52-week lows on the BSE.
10. Nifty’s technical outlook
According to Shrikant Chouhan, the head of equity research at Kotak Securities, a bullish candle on daily charts and a reversal formation on intraday charts indicate a further uptrend from the current levels.
“As long as the market is trading above 25,000, the uptrend is likely to continue. For the bulls, 25,200 and 25,250 would be the immediate resistance zones. A successful breakout above 25,250 could push the market towards 25,400-25500. On the other hand, below 25,000, the uptrend would become vulnerable,” said Chouhan.
Ajit Mishra, the SVP of research at Religare Broking, said a decisive breakout above 25,200 would confirm the move, with upside targets seen at 25,400 and 25,650 levels. On the downside, a break below 24,950 may derail the positive tone and extend the consolidation phase.
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Disclaimer: This story is for educational purposes only. The views and recommendations expressed are those of individual analysts or broking firms, not Mint. We advise investors to consult with certified experts before making any investment decisions, as market conditions can change rapidly and circumstances may vary.
