Stock Market Close Report Today, October 16, 2026: Sensex, Nifty Gain For Second Day As IT Lifts Sentiment

Mumbai, October 16: Indian equity benchmarks ended higher for a second consecutive session on Friday, October 16, with the Nifty 50 closing above 23,100 as a strong rally in information technology stocks lifted sentiment. Lower US Treasury yields and the Securities and Exchange Board of India’s (SEBI) decision to reverse its proposed closing-auction mechanism for derivatives settlement also supported the recovery, although elevated crude oil prices and inflation concerns remained key headwinds. 

At close, the BSE Sensex rose 413.66 points, or 0.56%, to settle at 74,729.27, while the NSE Nifty 50 gained 148.80 points, or 0.65%, to end at 23,146.15. Market breadth remained positive, with 2,221 shares advancing, 1,791 declining and 185 remaining unchanged. 

The gains followed Thursday’s sharp rebound, when domestic equities benefited from value buying after a global sell-off in AI-linked stocks. On Friday, investors also tracked quarterly earnings from technology companies for cues on demand and deal momentum. 

IT Stocks Lead Gains 

Information technology stocks led the rally, their index rising 4%, with Tech Mahindra, TCS and Infosys among the top Nifty 50 gainers. Tech Mahindra rose 8.5% after reporting better-than-expected September-quarter revenue, supported by strong deal wins. Wipro also advanced 6% after posting a revenue beat, with investors looking for signs that delayed large deals could support growth in coming quarters. 

Bharti Airtel and Mahindra & Mahindra were also among the benchmark’s leading gainers, gaining 2.7% and 2% respectively. The strength in IT stocks helped offset weakness in select heavyweight financial and consumer-facing shares. 

Most Sectoral Indices End Higher 

Except for FMCG, oil and gas, and pharmaceutical stocks, most sectoral indices ended in positive territory. IT, metals, PSU banks and infrastructure stocks advanced around 1–2%, while media shares also recorded gains. 

InterGlobe Aviation, BSE Ltd, Max Healthcare, Tata Consumer Products and Jio Financial Services were among the top Nifty 50 laggards. 

The Nifty Midcap index declined 0.12%, while the smallcap index ended flat, suggesting that the recovery remained stronger among select large-cap stocks than across the broader market. 

SEBI Relief Supports Sentiment; Oil Remains A Concern 

Market sentiment received support from SEBI’s decision to settle expiring stock and index derivatives contracts using volume-weighted average prices from the final 30 minutes of regular trading, reversing its earlier plan to use the closing-auction session. The change followed opposition from market participants concerned about the impact of the proposed mechanism on trading and settlement. 

Lower US Treasury yields also helped ease pressure on risk assets. However, crude oil prices remained elevated near $105 per barrel, while rising US producer prices reinforced concerns about persistent inflation and the global interest-rate outlook. These factors continued to limit the scope for a broader market rally. 

Investors will now track further corporate earnings, movements in crude oil and global bond yields, and foreign investor flows to assess whether the rebound can extend beyond select heavyweight stocks. 

Source

•  NSE
• BSE