Sensex Gains 211 Points, IT Buying Supports Markets Despite Global Sell-Off

Mumbai: Indian stock markets held gains in early trading on October 15, with technology shares supporting benchmark indices despite weakness across overseas markets.

In the latest verified update at 9:26 am, Sensex stood at 72,993.28, up 211.39 points, or 0.29 per cent. Nifty traded at 22,700.80, gaining 78.10 points, or 0.35 per cent.

Sensex had opened at 72,965.80 and Nifty at 22,671.30. Both subsequently moved above their opening levels.

IT Strength Masks Uneven Participation

Technology shares remained the main support. Nifty IT gained 1.5 per cent in early trading, extending its three-session advance to approximately 7.8 per cent following HCLTech’s encouraging earnings.

However, nine of sixteen major sectors declined. Smallcap and midcap indices fell approximately 0.7 per cent and 0.2 per cent, respectively, indicating that buying remained concentrated rather than broad-based.

Inflation Keeps Global Sentiment Fragile

US inflation increased to 3.7 per cent in September from 3.4 per cent in August, reviving concerns about another Federal Reserve rate increase.

The Nasdaq declined 1.88 per cent overnight, while Japanese and South Korean equities faced heavy selling.

For India, lower oil prices offered a partial cushion. Brent traded around $105 a barrel, while US bond yields eased towards 5.13 per cent. Both remained important variables for sentiment.

What the Early Trend Suggests

The combination of rising benchmarks and weaker broader indices points to selective buying in heavyweight stocks, rather than confirmation of a market-wide recovery.

Domestic institutional purchases of approximately ₹2,670 crore on Wednesday exceeded foreign selling of around ₹1,857 crore, providing a supportive backdrop.

Investors were also watching earnings from Wipro, Tech Mahindra, Nestle India and HDFC Life.

The immediate test is whether Nifty can hold above 22,700 with wider participation. Without that improvement, the early advance remains vulnerable to renewed selling despite strength in technology shares.