Sensex Soars 1,109 Points, IT Rally Powers Nifty Above 22,700

Mumbai: Indian stock markets rebounded sharply on October 13 as buying in information technology shares and optimism about corporate earnings lifted benchmark indices after the previous session’s decline.

The BSE Sensex climbed 1,109.10 points, or 1.54 per cent, to finish at 73,033.78. The NSE Nifty 50 gained 358.60 points, or 1.60 per cent, to settle at 22,721.95, reclaiming the 22,700 level.

The Nifty IT index surged more than 5 per cent, supported by positive sentiment surrounding HCL Technologies’ earnings. The technology rally provided the strongest push to the market recovery.

Realty and Banking Shares Advance

Almost every NSE sectoral index closed higher. Nifty Realty rose 2.48 per cent, while PSU banks gained 1.46 per cent and FMCG advanced 1.40 per cent.

Auto stocks climbed 1.23 per cent, metals added 1.17 per cent and media gained 0.55 per cent. Nifty Pharma was the exception, slipping 0.05 per cent.

Vikram Kasat of PL Capital said investors were focusing on earnings visibility. An approximately 8 per cent decline in India VIX pointed to easing uncertainty, although small-cap weakness suggested uneven risk appetite.

Nifty Support and Resistance Levels

Riyank Arora of Hedged.in identified immediate Nifty support at 22,650–22,600, followed by 22,450. Resistance stands at 22,800–22,900, with a decisive breakout potentially allowing further gains.

Analysts said sustained earnings growth and wider participation would be necessary to extend the recovery.

Crude Oil and Inflation Remain Risks

Brent crude traded near $104.55 a barrel, keeping energy costs in focus. September retail inflation of 5.54 per cent also raised concerns about corporate margins and policy flexibility.

Gold stood at ₹1,49,535 per 10 grams, while silver traded at ₹2,22,849 per kilogram.

The rupee’s rebound continued amid RBI measures to redirect oil companies’ dollar demand and curb speculative positions.

Asian markets were mixed, with Japan, Taiwan and South Korea declining, while Singapore and Hong Kong advanced. India’s gains contrasted with weakness across several regional peers.