On Friday, 16 October, the SENSEX advanced 413.66 points or 0.56% to close at 74,729.27, while the NIFTY50 finished higher by 148.80 points or 0.65% at 23,146.15. The benchmark indices closed in the green zone, buoyed by a rally in banking and information technology stocks. The SENSEX hit an intraday high of 74,778.78, gaining 0.62%, and the NIFTY50 surged 0.7% to touch a session peak of 23,149.85. Foreign institutional investors purchased shares worth ₹1,165.92 crore, whereas domestic institutional investors sold equities worth ₹3,661.28 crore on a net basis, according to exchange data.

Tech Mahindra emerged as the top gainer in the NIFTY50, closing 8.48% higher after reporting a consolidated net profit of ₹1,586 crore for the quarter ended 30 September 2026 (Q2 FY27). This profit marked an 8.2% sequential increase from ₹1,465 crore in Q1 FY27 and a 33% year‑on‑year growth. The company’s revenue from operations rose 3% quarter‑on‑quarter to ₹16,180 crore, up from ₹15,712 crore in the June quarter of the 2025‑26 fiscal year. Other top gainers included Tata Consultancy Services (4.89%), Infosys (4.61%), Bharti Airtel (2.75%) and HCL Technologies (2.37%).

On the downside, InterGlobe Aviation, the parent company of IndiGo, fell 1.91% after extending the cancellation of flights to Saudi Arabian cities until 24 October amid the evolving situation in the Gulf country. BSE Ltd shares dropped 1.90% as the market regulator SEBI revised the framework for the Closing Auction Session, changing trading timings and the methodology for determining settlement prices of stock and index derivatives contracts. The revised framework sets a 10‑minute closing auction from 3:30 pm to 3:40 pm on all trading days, with index and stock derivatives trading continuing until 3:45 pm, except for certain expiring contracts. Settlement of expiring derivatives will now use a Volume Weighted Average Price methodology based on the last 30 minutes of continuous trading.

The NIFTY Midcap 100 index closed at 59,129.75, down 67.50 points or 0.11%. It was weighed down by Apar Industries (-5.26%), YES Bank (-3.42%), L&T Finance (-3.11%), Mankind Pharma (-3.07%) and Dixon Technologies (-2.57%). Shares of YES Bank declined as the Supreme Court’s verdict on the lender’s ₹8,415 crore Additional Tier‑1 bond write‑off raised concerns over its capital position and future profitability. The court upheld the Bombay High Court’s decision to quash the 2020 write‑off, potentially requiring the restoration of the bonds and payment of accrued interest. YES Bank said it was examining the judgment and evaluating its available legal options.

Conversely, the top winners in the Midcap gauge included Indian Hotels Company (4.13%), Waaree Energies (2.86%), Suzlon Energy (2.56%), Info Edge (Naukri) (2.42%) and Swiggy (2.31%). The NIFTY Smallcap 100 index closed flat at 19,129.80, falling by 1.90 points or 0.01%. Its top losers were R R Kabel (-8.98%), Syrma SGS Technology (-4.94%), Angel One (-4.15%), Mtar Technologies (-3.35%) and Gallantt Ispat (-3.05%). The top gainers in the Smallcap segment were HBL Engineering (16.69%), KPIT Technologies (5.51%), HFCL (5%), Tata Elxsi (4.06%) and Welspun Corp (3.42%).

Overall, the day saw a positive market sentiment driven by strong performance in technology and banking stocks, while concerns over flight cancellations and regulatory changes in derivative trading tempered gains in certain sectors. The indices’ gains reflected a broader rally in the Indian equity market, with institutional buying and selling dynamics playing a significant role in the market movement on 16 October.