On Friday, October 10, equity benchmark indices Sensex and Nifty 50 are expected to witness a subdued start, following declines in global markets. At 7:10 AM, the GIFT Nifty was trading at 25,241, down 19 points.
There’s some good news for the bulls in the market. Prime Minister Narendra Modi spoke with US President Donald Trump and reaffirmed their commitment to moving forward with the India–US trade deal. This is likely to boost investor confidence.
Earlier this week, Commerce Minister Piyush Goyal also said that talks between the two countries are going well. He sounded hopeful that the trade pact could be finalised by November.
Meanwhile, IT stocks will be in focus today. TCS has announced its Q2 results, which will be closely watched. Infosys ADRs also closed higher overnight, adding to the positive sentiment for the tech sector.
In early trade, Asian markets traded mostly lower, while the US stock market fell overnight, with all three Wall Street indices closing in the red.
On Thursday, October 9, Foreign Institutional Investors (FIIs) were net buyers. FIIs bought equities worth ₹864.36 crore, marking their third consecutive day of buying.
Domestic Institutional Investors (DIIs) were buyers on Thursday. DIIs bought equities worth ₹1,308.16 crore, marking their 32nd consecutive session of net buying.
On Thursday, October 9, Indian benchmark indices ended higher. The Nifty 50 rose 135.65 points, or 0.54%, to 25,181.80, while the Sensex gained 398.45 points, or 0.49%, to 82,172.10.
The Nifty Metal index emerged as the top gainer, driven by rising global base metal prices amid supply concerns. The Nifty IT index advanced 1.12%, led by TCS, which gained 1.14% ahead of its Q2FY26 results. The IT index has risen 5.08% over the past five sessions.
All sectoral indices closed in the green, while midcap and smallcap indices outperformed, ending on a strong note.
Tata Consultancy Services (TCS) reported its consolidated Q2FY26 results for the quarter ending September 30, 2025, with revenue of ₹65,799 crore, up 3.7% QoQ and 0.8% in constant currency. International revenue grew 0.6% QoQ in constant currency, supported by broad-based growth across verticals, led by BFSI.
Operating margin expanded 70 bps QoQ to 25.2%, while net income rose 8.4% YoY to ₹12,904 crore, with a net margin of 19.6%. Cash flow from operations stood at 110.1% of net income. Total contract value (TCV) for the quarter was $10 billion.
The board declared a dividend of ₹11 per share, with a record date of October 15, 2025, and a payment date of November 4, 2025.
The IT major also announced strategic investments, including a new business entity to build world class AI infrastructure with 1 GW capacity AI datacenter in India and the acquisition of 100% stake in ListEngage.
The US stock market ended lower on Thursday, amid consolidation ahead of the third-quarter earnings season.
The Dow Jones Industrial Average fell 243.36 points, or 0.52%, to 46,358.42, while the S&P 500 declined 18.61 points, or 0.28%, to 6,735.11. The Nasdaq Composite closed 18.75 points, or 0.08%, lower at 23,024.63.
Japan’s wholesale inflation remained unchanged in September, with prices increasing by 2.7% year-on-year. The Corporate Goods Price Index (CGPI), which tracks prices charged between companies for goods and services, recorded a rise slightly above market expectations of a 2.5% gain.
Gold rises in the early Asian session on a likely technical recovery after its sharp fall overnight. Spot gold is 0.3% higher at $3,986.90/oz. On October 9, Gold futures on MCX declined and closed at ₹120,493 per 10 gm, down by ₹2,716 or 2.2%.
Oil prices were little changed in early Asian trade on Friday after falling more than 1% in the previous session, as the market's war risk premium faded after Israel and Hamas agreed to the first phase of a plan to end the war in Gaza.
Brent crude futures were up 9 cents, or 0.1%, at $65.31 a barrel. US West Texas Intermediate crude rose 12 cents, or 0.2%, to $61.63.
Disclaimer: The article is for informational purposes only and not investment advice.
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