Sensex, Nifty rebounds over 1% after two days of losses; IT shares lead rally amid easing crude prices

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Stock markets bounced back on Friday (October 9, 2026) after two days of sharp decline, with the benchmark Sensex rallying 879 points and the Nifty ending above 22,500, led by a rally in TCS, other IT stocks and easing crude oil prices.

The 30-share BSE Sensex jumped 879.09 points, or 1.23%, to settle at 72,472.33. During the day, it surged 1,075.96 points, or 1.50%, to 72,669.20.

The 50-share NSE Nifty rallied 288.65 points, or 1.30%, to end at 22,520.45.

From the 30 Sensex firms, ITC climbed 4.78%, followed by Tata Consultancy Services, which jumped 4.23%.

Tata Consultancy Services reported a 15% jump in net profit for the July-September quarter to ₹13,884 crore and pointed to continued growth momentum going forward.

Adani Ports, Infosys, HCL Tech, Larsen & Toubro and HDFC Bank were also among the major gainers.

Brent crude, the global oil benchmark, declined 1.32% to $102.9 per barrel.

“Domestic equities staged a relief rally, supported by value buying and short covering after the recent sharp correction. IT stocks outperformed on the back of a strong start to the Q2 earnings season and rising confidence in AI-driven revenue opportunities,” Vinod Nair, Head of Research, Geojit Investments Ltd, said.

Sentiment was aided by easing geopolitical concerns following indications that any potential US military action against Iran is unlikely before the mid-term elections, helping crude prices moderate, he added.

“Indian equities rebounded sharply on Friday, clawing back a substantial portion of the previous session’s losses as bargain buying and improving global cues lifted sentiment. IT stocks led the advance after Tata Consultancy Services reported better-than-expected September quarter results,” Ponmudi R, CEO of Enrich Money, an online trading and wealth tech firm, said.

A pullback in crude oil prices provided much-needed macroeconomic relief, easing some of the inflation concerns that had weighed on markets in the previous session, he said. “Reduced fears of an immediate escalation between the US and Iran, alongside some moderation in global bond yields, also helped restore risk appetite,” Ponmudi added.

The BSE MidCap Select index jumped 1.59%, and the SmallCap Select index climbed 0.56%. All BSE sectoral indices ended higher. Focused IT surged 2.96%, IT 2.91%, Hospitals 2.46%, FMCG 2.02%, mid-small private banks quality tilt 1.91%, Services 1.71%, mid-small private banks 1.53%, Insurance 1.45 per cent, PSU banks 1.37% and the private banks index 1.25%.