Extending gains for the third consecutive session, the Indian stock market benchmarks —the Sensex and the Nifty 50 — ended with healthy gains on Monday, October 6, with select banking and IT heavyweights, such as HDFC Bank, Infosys, and TCS, among the top contributors.
The Sensex closed 583 points, or 0.72 per cent, higher at 81,790.12, while the Nifty 50 ended at 25,077.65, up 183 points, or 0.74 per cent.
The BSE Midcap index jumped 0.68 per cent, but the Smallcap index ended with a loss of 0.20 per cent.
The overall market capitalisation of BSE-listed firms rose to nearly ₹460 lakh crore from about ₹458 lakh crore in the previous session, making investors richer by about ₹2 lakh crore in a day.
Indian stock market: 10 key highlights from the day
1. What is driving the Indian stock market?
The domestic market has been witnessing short covering after the Reserve Bank of India projected healthy growth-inflation dynamics for the country in FY26 on October 1, while maintaining a status quo in interest rates and policy stance.
Banking stocks are leading the way, driven by eased concerns over near-term margin pressure following the RBI’s rate cuts and strong Q2 business updates.
IT stocks are rising on short covering after the recent correction. Since IT and banking majors hold significant weight in the benchmark indices, their upward momentum is keeping the key gauges higher.
“Market remained in positive territory through the session, mainly aided by gains in banking, IT and healthcare stocks. Despite the upmove, it was not a broad-based rally, indicating that undertone still remains cautious with a weak bias owing to sharp selling by overseas investors,” said Prashanth Tapse, Senior VP (Research), Mehta Equities Ltd.
“While global economic uncertainty, coupled with the shutdown of the US government, will weigh on the sentiment, focus will now shift to second-quarter corporate earnings that will give some hint about the health of the companies amidst the delay in the US-India trade deal,” said Tapse.
2. Top gainers in the Nifty 50 index today
As many as 33 stocks ended higher in the Nifty index, among which Max Healthcare Institute (up 6.34 per cent), Shriram Finance (up 3.90 per cent), and TCS (up 2.97 per cent) ended as the top gainers.
3. Top losers in the Nifty 50 index
Shares of Trent (down 2.30 per cent), Tata Steel (down 1.65 per cent), and Adani Ports (down 1.29 per cent) ended as the top losers.
4. Sectoral indices today
Nifty IT rose 2.28 per cent, leading among sectoral indices. Nifty Bank rose 0.93 per cent, while the Financial Services index rose 1.08 per cent.
Nifty Healthcare (up 1.29 per cent) and Private Bank (up 1.22 per cent) also clocked healthy gains.
Nifty Media (down 0.90 per cent), Metal (down 0.89 per cent), and FMCG (down 0.20 per cent) ended with losses.
5. Most active stocks in terms of volume
Vodafone Idea (127.8 crore shares), YES Bank (10.3 crore shares), and PC Jeweller (7.7 crore shares) were the most active stocks in terms of volume on the NSE.
6. 24 stocks jump over 10% on BSE
ITDC, Atlantaa, Indbank Merchant Banking Services, AAA Technologies, and Earthstahl & Alloys were among the 24 stocks that jumped by more than 10 per cent on the BSE.
7. Advance-decline ratio
Out of 4,449 stocks traded on the BSE, 1,827 advanced, while 2,453 declined. Some 169 stocks remained unchanged.
8. Over 200 stocks hit 52-week highs
As many as 201 stocks, including Canara Bank, Bank of Baroda, Indian Bank, Aditya Birla Capital, Muthoot Finance, Poonawalla Fincorp, Hindustan Petroleum Corporation, and FSN E-Commerce Ventures (Nykaa), hit their 52-week highs in intraday trade on the BSE.
9. Nearly 120 stocks hit 52-week lows
Aditya Birla Real Estate, Clean Science and Technology, Happiest Minds Technologies, and Torrent Power were among the 117 stocks that hit their 52-week lows on the BSE.
10. Nifty’s technical outlook
Shrikant Chouhan, the head of equity research at Kotak Securities, believes that the current market texture is bullish, but buying on intraday dips and selling on rallies would be the ideal strategy for day traders.
“On the downside, 25,000–24,950 would act as crucial support zones, while 25,150 and 25,200 could be immediate resistance levels for the bulls. However, below 24,950, the uptrend would become vulnerable,” said Chouhan.
According to Ajit Mishra, SVP of research at Religare Broking, the Nifty 50 has reclaimed its short-term moving average (20-DEMA) and looks poised to test 25,150, with potential to extend the move toward 25,400.
Read all market-related news here
Read more stories by Nishant Kumar
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.
