The SENSEX and NIFTY50 indices recorded gains for a second consecutive session on Friday, 16 October, as market sentiment remained stable amid a decline in crude oil prices and a positive trend in other global markets. The SENSEX climbed as much as 463 points, while the NIFTY50 touched an intraday high of 23,150, driven by strong performances from heavyweights such as Infosys, Bharti Airtel, Tata Consultancy Services, Tech Mahindra, HCL Technologies and Bajaj Finance. The SENSEX closed 414 points higher at 74,729, and the NIFTY50 finished 149 points higher at 23,146.

Brent crude futures fell nearly 1% to $104.92 per barrel, yet were poised for weekly gains due to uncertainty over Middle East supplies. Asian markets also ended higher on Friday, with buying resuming in AI‑related stocks after a sell‑off the previous day. Japan’s Nikkei advanced 1.66%, China’s Shanghai Composite gained 0.24%, Hong Kong’s Hang Seng rose 0.52% and South Korea’s KOSPI index climbed 2.05%. Back home, eight of the 15 major sector gauges compiled by the National Stock Exchange ended higher, led by the NIFTY IT index’s 3.92% gain.

The NIFTY IT index rose for a fourth straight session, registering a 3.92% gain, and has surged 12.6% in the last four sessions. IT stocks attracted buying interest after HCL Technologies, TCS and Tech Mahindra posted better‑than‑anticipated September quarter earnings. NIFTY Auto, Media, Metal, PSU Bank, Bank, Financial Services and Private Bank indices also closed higher, while realty, healthcare, consumer durables, oil & gas and pharma shares faced selling pressure. Broader markets underperformed their larger peers as the NIFTY Midcap 100 index fell 0.11% and the NIFTY Smallcap 100 index slipped 0.01%.

Among individual shares, YES Bank fell for a second straight session after the Supreme Court’s verdict on the lender’s ₹8,415 crore Additional Tier‑1 (AT‑1) bond write‑off raised fresh concerns over its capital position and future profitability. Tech Mahindra was the top gainer in the NIFTY50 index, rising 8.48% to close at ₹1,790 after its net profit in the second quarter of the current financial year advanced 33% to ₹1,585.6 crore, driven by strong volume growth, cost savings and rupee depreciation that lifted operating profit.

Other stocks that rose between 1.2% and 4.9% included TCS, Infosys, Bharti Airtel, HCL Technologies, Mahindra & Mahindra, Bajaj Finance, Hindalco, JSW Steel and Grasim Industries. On the flip side, IndiGo, BSE, Max Healthcare, Tata Consumer Products, Jio Financial Services, ONGC, Bharat Electronics, Nestle India, Asian Paints, Tata Steel and Shriram Finance were the top losers in the NIFTY50 index. The article concludes with a disclaimer that the information is purely for informational purposes and should not be considered investment advice, urging readers to consult a financial advisor before making any investment decisions.