Summary:
Indian equity markets rebounded on October 9, 2026, with the Nifty 50 gaining 1.30% and the Sensex rising 879 points. IT stocks rallied after TCS reported higher quarterly revenue and profit, while easing oil prices supported sentiment.
Indian equity markets bounced back strongly on Friday, October 9, following a sharp sell-off on Thursday. During the session, the Nifty 50 rose past 22,500 while the Sensex gained over 850 points from its previous close. The rebound was driven by buying in information technology (IT) stocks, as encouraging quarterly earnings and easing global pressures revived investors' spirits.
On Friday, the Nifty 50 rebounded to close at 22,520.45, gaining 288.65 points, or 1.30%, snapping a 2-day losing streak, while the Sensex surged 879.09 points, or 1.23%, to 72,472.33, supported by strong buying in IT stocks following TCS's Q2FY27 results.
TCS Earnings Boost IT Stocks Amid US Immigration Worries
Tata Consultancy Services (TCS) was a big contributor to Friday’s rally. Its consolidated revenue for Q2FY27 increased 11.2% YoY to ₹73,188 crore and net profit rose 15% YoY to ₹13,884 crore.
TCS share price rose over 5% in morning trading, adding to sentiment across the IT sector. The gains came despite the US administration’s decision to suspend several Indian companies from the Permanent Labor Certification (PERM) program. TCS said the development was not expected to have a material impact on its workforce strategy or client engagements. Meanwhile, US technology stocks came under pressure following reports that OpenAI’s annualised revenue was below earlier expectations, with Nvidia, Oracle and other AI-related stocks witnessing sharp declines. This risk-off sentiment in AI stocks may have provided some relief to Indian IT shares, as concerns over AI-driven disruption eased temporarily, supporting a recovery in investor sentiment.
Check TCS Q2 Results Updates
Crude Oil Retreats, US Bond Yields Fall
There was some help from the world news. Brent crude, which had climbed to $106 a barrel on Thursday, fell to $103.50 in early trade on Friday as tensions over the US-Iran conflict eased.
U.S. Treasury yields pulled back from recent peaks after the benchmark 10-year yield briefly traded around 5.35%. Concerns over India's import bill, inflation and pressure on the rupee were helped by lower oil prices.
But oil prices stayed high, keeping energy costs and the specter of inflationary pressures on the radar.
Sectoral Impact: IT, Financials & Midcaps Rebound
All key sectors ended in green, with IT index emerging as the top gainer for the day. The Nifty IT index closed 3.02% higher with Infosys, Tata Consultancy Services, HCL Technologies and Persistent Systems leading the gains.
Financial Services stocks also participated in the uptick. The Nifty Midcap 100 was up by around 1.55%, and the Nifty Smallcap 100 rose about 0.55%. At the closing bell, all 11 major sector gauges were in green.
Top Gainers & Losers of the Day
Top Gainers
| Company Name | Change (%) |
| Apollo Hospitals Enterprise Ltd | +4.72% |
| ITC Ltd | +4.31% |
| Eicher Motors Ltd | +4.17% |
| Tata Consultancy Services Ltd | +3.85% |
Top Losers
| Company Name | Change (%) |
| BSE Ltd | −1.43% |
| Reliance Industries Ltd | −0.65% |
| JSW Steel Ltd | −0.61% |
| Cipla Ltd | −0.44% |
Data shown above represents only Nifty 50 stocks.
Outlook: What to Watch
Friday’s bounce back aided the Nifty to recover from Thursday’s sharp fall but the wider market continues to be sensitive to external developments. 22,500-22,600 is an important near term area to watch out for. 22,200 is an important reference after the recent correction.
Next week, India’s September CPI inflation data, Q2FY27 corporate earnings, Brent crude prices, US Treasury yields and foreign institutional investment flows will be in focus for investors.
