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Nifty Jumps 1.5 Percent as IT Stocks Rally After HCL Tech Earnings

India's Sensex closed at 73,033.78 on Tuesday, up 1.54 percent from Monday, and the Nifty 50 rose to 22,721.95, as heavy buying in technology shares after strong HCL Technologies and TCS results lifted Mumbai markets.

By Orbit Post · Updated October 14, 2026 1:28 UTC4 min read
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Nifty Jumps 1.5 Percent as IT Stocks Rally After HCL Tech Earnings
Photo: Niyantha Shekhar, CC BY 2.0, via Wikimedia Commons (https://commons.wikimedia.org/wiki/File:BSE_-_Bombay_Stock_Exchange_Building.jpg)

Key points

  • Late closing detail added the scale of the day.
  • Final exchange figures confirmed the close.
  • Updated 10:00 UTC: The Sensex closed at 73,033.78, up 1,109.10 points or 1.54 percent from Monday's close of 71,924.68.

Updated 01:28 UTC

Late closing detail added the scale of the day. The Hindu BusinessLine said the 1.60 percent rise was the steepest single session percentage gain for the Nifty since June 12. The Nifty IT index closed up 5.22 percent. The IMF raised its India growth forecast for fiscal 2027 to 7 percent from 6.4 percent. Remarks by Finance Minister Nirmala Sitharaman that the government was open to hearing stakeholder views on long term capital gains tax lifted capital market stocks in the afternoon. The Nifty Midcap 100 rose 1.06 percent and the Nifty Smallcap 100 rose 0.11 percent, so the broader market lagged the main indexes again.

Updated 19:24 UTC

Final exchange figures confirmed the close. The Nifty 50 ended at 22,721.95, up 358.60 points or 1.60 percent from its previous close of 22,363.35. The Sensex ended at 73,033.78, up 1,109.10 points or 1.54 percent. PTI reported the Nifty IT index up more than 5 percent at the close, with HCLTech up 8.28 percent and TCS up 6.59 percent. PTI also put Brent crude down 1.66 percent at 104.6 dollars a barrel. The rupee held its rebound after Reserve Bank of India measures, which helped sentiment through the session.

Updated 10:00 UTC: The Sensex closed at 73,033.78, up 1,109.10 points or 1.54 percent from Monday's close of 71,924.68. The Hindu BusinessLine had the index at 72,954.19 at 2:50 p.m. in Mumbai, up 1.43 percent, with the Nifty 50 at 22,692.00. Reuters reported HCLTech rose in early trade after a margin beat and strong deal bookings, with growing revenue from advanced AI services. The closing level shows the IT rally held to the bell.

India's benchmark Nifty 50 jumped on Tuesday, October 13. The index rose 1.60 percent to 22,721.95, up 358.60 points from its previous close of 22,363.35. The gain reversed Monday's slide, when the Nifty lost 157.10 points and the Sensex fell 547.65 points to 71,924.68.

Technology shares led the move from the open. By 1:19 p.m. in Mumbai, the Sensex traded at 72,498.13, up 573.45 points or 0.80 percent, and the Nifty stood at 22,544.30, up 180.95 points or 0.81 percent, according to The Hindu BusinessLine live market coverage. Buying built through the afternoon and pushed the Nifty to its closing level.

IT earnings did the heavy lifting

HCL Technologies was the top Nifty gainer in midday trade. Its shares surged 7.44 percent to 1,314 rupees from a previous close of 1,223 rupees after its earnings announcement. Tata Consultancy Services followed, up 5.86 percent to 2,249.50 rupees from 2,125 rupees. Tech Mahindra climbed 4.33 percent to 1,534.70 rupees, and Infosys added 2.94 percent to 1,049.95 rupees.

The numbers behind the buying were solid. HCL Technologies reported a 21.18 percent rise in quarterly net profit to 5,132 crore rupees, with revenue up 11.5 percent to 35,620 crore rupees. TCS had already reported a 15 percent rise in net profit, which set up the September quarter earnings season. The Nifty IT index rose more than 3 percent in intraday trade, the strongest gain among sector indexes.

Help from the rupee and oil, limits underneath

Sentiment also got help from outside the earnings reports. Reserve Bank of India measures announced since Saturday to curb rupee depreciation lifted investor mood, and oil prices eased a little in morning trade, though Brent crude stayed elevated near 105 dollars a barrel. Domestic investors provided a floor as well. Domestic institutional investors bought about 3,045 crore rupees of equities on Friday, against foreign investor sales of about 1,708 crore rupees.

The rally was narrow. On the BSE, 2,335 stocks fell against 1,806 gainers in midday trade, even as the headline indexes rose. Kotak Mahindra Bank, Max Healthcare and Maruti Suzuki were among the losers. That split tells the story of the day. A few large IT names carried the index, while much of the wider market stayed under pressure from high oil prices and inflation near the top of the RBI tolerance range.

What happens next

Investors now wait for the next set of September quarter results to see if other large IT firms match HCL Tech and TCS. Traders will also watch crude oil, the rupee and foreign flows. If oil stays above 100 dollars and foreign selling returns, Tuesday's narrow rally will be hard to extend. If earnings spread beyond IT, the rebound from Monday's fall will have firmer ground.

Sources