Sensex Jumps 700 pts, IT Stocks Lead Rally

Indian stock markets rebounded strongly today (Friday, October 9, 2026), with the Sensex up over 700 points and the Nifty reclaiming the 22,450 mark, led by IT stocks such as TCS and Infosys after strong quarterly results. Global markets, however, remain cautious, with Asian indices slipping on tech jitters and oil prices hovering above $103 per barrel. 📊 India Market Highlights (Oct 9, 2026) Sensex: Up ~700 points to 72,259. Nifty 50: Around 22,450–22,515, recovering from Thursday’s steep fall. Top Gainers: TCS (+4.7%) after reporting ₹13,884 crore net profit, up 15% YoY. Infosys, HCL Tech, Tech Mahindra also rallied, lifting Nifty IT +3%. Apollo Hospitals, Max Healthcare among healthcare gainers. Sectoral Trends: IT & FMCG: Strong gains. Metals & Pharma: Weakness persists. PSU Banks: Canara Bank, PNB, Bank of Maharashtra rose over 2%. Market Breadth: Positive, with midcaps up ~0.5% while smallcaps slipped slightly. 🌍 Global Market Snapshot US Markets (Oct 8): Nasdaq 100 fell 1.4%, worst in 7 weeks. S&P 500 down 0.5%, dragged by chipmakers (-3.4%). Concerns over OpenAI’s revenue miss ($50B vs $70B expected) weighed on AI-linked stocks. Asia-Pacific: Japan’s Nikkei down 1%, SoftBank -5%. Kospi & Taiwan markets closed for holidays. MSCI Asia Pacific Index edged down 0.1%. Oil Prices: Brent crude: ~$103.8/barrel. WTI crude: ~$91/barrel. Prices eased slightly after Trump confirmed no US strike on Iran before elections. ⚠️ Key Drivers & Risks Relief Rally: Today’s rebound in India is largely technical after Thursday’s ₹10 lakh crore wealth wipeout. Crude Oil: Elevated prices (~$104) remain a risk for inflation and corporate margins. Bond Yields: US Treasury yields at multi-decade highs continue to pressure global equities. FPI Outflows: Foreign investors sold ₹12,944 crore yesterday, the largest single-day outflow since May 2026. Domestic institutions cushioned with ₹10,703 crore buying.