Nifty rebounds 289 points as IT stocks lead rally

Indian equity markets rebounded on Friday, October 9, 2026, with the Nifty 50 rising 288.65 points (1.30%) to close at 22,520.45. The Sensex gained 879.09 points (1.23%), while Bank Nifty advanced 1.36%. **Key market highlights** - **IT leads:** Nifty IT gained 3.18%, supported by positive sentiment following TCS’s Q2 FY27 results. - **Broad-based recovery:** All 14 reported sectoral groups closed higher. FMCG rose 2.36%, Private Banks gained 1.74%, and Metals advanced 1.64%. - **Market breadth:** 2,182 NSE stocks advanced against 1,391 declines. In the Nifty 50, 48 stocks rose and only 2 fell. - **Volatility eases:** India VIX declined 5.89% to 14.38, indicating reduced near-term market volatility. - **Crude oil:** Brent fell 1.53% to $102.68 per barrel, offering some relief from energy-cost pressures. **Technical outlook:** Nifty closed above its opening level but remains below its 20-day moving average of 22,947 and 50-day moving average of 23,434. Immediate support is near 22,350–22,179, while resistance lies at 22,636–22,751. The 14-day RSI at 36 indicates that momentum remains relatively weak despite Friday’s recovery. **What to watch next:** Monitor whether Nifty sustains above 22,500, whether IT-sector strength continues, and how upcoming corporate earnings influence market sentiment. HCL Technologies is scheduled to report results on October 12, ahead of Nifty’s October 13 expiry. **Market view:** The session signals a broad-based relief rally, but a sustained recovery above key moving averages is needed to strengthen the bullish case. **Learning outcome:** A strong single-session rally and falling volatility can improve sentiment, but trend confirmation, market breadth and resistance levels remain important for assessing the sustainability of a recovery.