Indian Markets Rebound Sharply Led by IT Surge as Nifty Gains 1.6% on HCL Tech Earnings Beat

Indian equities staged a strong recovery on October 13, 2026, with the Nifty 50 surging 358.60 points or 1.60% to close at 22,721.95, while the BSE Sensex rallied 1,109.10 points or 1.54% to finish at 73,033.78. The gains were broad-based, with 2,303 stocks advancing on the NSE against 1,711 declining, and afternoon short-covering amplified the move higher.

The day's standout performer was Nifty IT, which jumped 5.22% after HCL Technologies posted a strong Q2 earnings beat, lifting sentiment across the technology sector. India VIX dropped roughly 8%, signaling a sharp cooling of near-term volatility fears. Nifty Pharma was the sole major laggard, slipping 0.05% on mild defensive profit-taking, while energy and metal sectors faced some pressure from profit-taking after recent gains.

The following morning on October 14, Gift Nifty signaled a softer open, pointing to around 22,765, down approximately 85 points from the prior Nifty futures settlement, with Sensex opening near the 72,500 zone. TCS, which traded ex-dividend for its second interim payout alongside Vedanta, rose about 2% in early trade despite the choppy open. Domestic institutional investors continued buying across midcap and largecap counters, while foreign institutional investors maintained cautious positioning. The broader Asian backdrop was supportive, with regional shares edging higher on a rebound in semiconductor stocks and ahead of the US CPI release. Hero Motors shares climbed as much as 8% intraday after reporting a 115% year-on-year surge in net profit to Rs 10.2 crore for the July-September quarter of FY27.