Business EconomyPosted at: Oct 16 2026 7:01PM


Stock Markets extend rally for second session; buying seen in IT, metal

New Delhi, Oct 16 (UNI) Indian Stock Markets on Friday extended their rally for the second consecutive session. The markets was supported by buying in IT, media and metal stocks. Further, Nifty climbed to an intraday high and ended the session near the day's high.
At close, the Sensex was up 413.66 points or 0.56 percent at 74,729.27, and the Nifty was up 148.80 points or 0.65 percent at 23,146.15. Indices extended the gains for the second consecutive week, with Sensex adding 3.1 percent and Nifty rising 2.7%
Top Nifty gainers were Tech Mahindra, TCS, Infosys, Bharti Airtel, M&M, while losers were Interglobe Aviation, BSE Limited, Max Healthcare, Tata Consumer, Jio Financial.
Among the sectors, all the indices ended in green except FMCG, oil & gas, Pharma. Information Technology, Metal, PSU Bank, Infra were up 1-2 percent.
Indian rupee pared some of its intraday gains but ended higher for the sixth consecutive day at 94.95 per dollar, compared with the previous close of 95.05.
More than 100 stocks touched 52-week low. These included HDB Financial, Blue Dart, Avenue Supermarts, Vishal Mega Mart, Fortis Health, ICICI Prudential, Medplus Health, Eris Life, Reliance Power, Bikaji Foods, Max Financial, Swiggy, Jupiter Wagons, Ramco Cements, among others.
Vinod Nair, Head of Research, Geojit Investments Limited said, "Indian equities extended their recovery, led by sustained buying in IT stocks, as strong quarterly results and upbeat management commentary reinforced confidence in the sector’s earnings outlook. Softer crude oil prices and a strengthening rupee further supported sentiment. FMCG stocks, however, remained under pressure amid concerns over Q2 margin compression from elevated input costs."
"The sectoral divergence reflects investors’ preference for earnings visibility amid persistent cost pressures. While rupee appreciation and easing crude prices provide near-term support, global inflationary and geopolitical risks warrant caution. Sustaining the recovery will require broader earnings growth beyond IT, supported by an improvement in domestic demand and easing margin pressures."UNI VK AAB
Tags: #Stock Markets extend rally for second session; buying seen in IT# metal
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