IT Stocks Rally as Nifty Reclaims 23,100 Mark

The Indian stock market closed higher on Friday, October 16, 2026, extending its recovery for a second consecutive session. The Nifty 50 rose 149.00 points (0.65%) to 23,146.15, while the Sensex gained 413.66 points (0.56%) to close at 74,729.27. IT stocks continued to lead the rally following encouraging earnings and renewed buying interest in technology shares. - Top Nifty 50 gainer: Tech Mahindra: Jumped approximately 8.5% to ₹1,790, leading the benchmark as IT shares rallied on earnings optimism. - Top Nifty 50 loser: InterGlobe Aviation (

): Fell approximately 1.9% to ₹4,686.90, among the session's weakest benchmark constituents. - IT stocks dominated the rally: The Nifty IT index surged 3.9%, taking its weekly gain to 11.7%, its strongest weekly advance in 18 years. - Broader market participation was mixed: Twelve of 16 major sectors advanced, while small-cap stocks edged lower. Elevated crude prices and inflation concerns remain risks.