On October 9, 2026, the Indian stock market saw a strong rally with the Sensex and Nifty50 indices trading over 1% higher by noon. This surge was mainly due to robust buying in information technology (IT) and fast-moving consumer goods (FMCG) stocks, supported by positive global trends and easing crude oil prices.
- The Sensex rose as much as 1.27% to an intraday high of 72,502.92 points.
- The Nifty50 surged up to 1.36%, reaching a session peak of 22,534.40 points.
- Top gainers included ITC Ltd, Tata Consultancy Services (TCS), Apollo Hospitals, Eicher Motors, Adani Ports, and Shriram Finance.
- Only three Nifty50 stocks—BSE, Reliance Industries, and JSW Steel—were trading in the red.
- TCS reported strong Q2 earnings with a 15% net profit increase and 11.22% revenue growth.
- Hexaware Technologies announced a multi-year partnership with US AI firm Anthropic, boosting its shares by over 12%.
- Pharma and hospital stocks rallied after the government capped trade margins on non-scheduled anti-cancer drugs at 30%.
- Other notable stock movements included gains in KEC International, Pidilite Industries, Pace Digitek, NCC Ltd, Cochin Shipyard, and Acme India Industries.
Why did the Sensex and Nifty50 rise on October 9, 2026?
The indices rose due to improved investor sentiment fueled by a decline in global crude oil prices, easing US bond yields, and strong global market cues. Buying interest was particularly strong in IT and FMCG sectors, which helped push the markets higher.
Which stocks led the market gains?
Leading the gains were ITC Ltd, Tata Consultancy Services (TCS), Apollo Hospitals Enterprise, Eicher Motors, Adani Ports and Special Economic Zones, and Shriram Finance. These companies saw significant buying activity, contributing to the overall market rally.
How did Tata Consultancy Services perform?
TCS posted a 15% jump in net profit to ₹13,884 crore for Q2, compared to ₹12,075 crore in the same period last year. Revenue increased by 11.22% to ₹73,188 crore. Despite some margin pressure, the company showed strong growth momentum. TCS shares rose as much as 6.16% to ₹2,204 during the trading session.
What impact did the US green card suspension have on IT stocks?
The US Department of Labor suspended the Permanent Labor Certification Program (PERM) for eight major IT companies, including TCS, Infosys, and Wipro. However, this did not negatively affect Indian IT stocks, which continued to rally on strong earnings and positive market sentiment.
What developments affected pharma and hospital stocks?
Shares of pharmaceutical companies like Sun Pharmaceutical and Dr Reddy’s Laboratories, along with hospital operators such as Max Healthcare and Apollo Hospitals, surged after the government capped trade margins on non-scheduled anti-cancer drugs at 30% of the maximum retail price. This move eased uncertainty in the sector.
What other notable stock movements occurred?
KEC International gained 5% after securing new orders in transmission, renewables, and cables sectors. Pidilite Industries shares rose 2% following the appointment of Amith Agarwal as CFO. Pace Digitek jumped 6% after winning a ₹179.4 crore battery energy storage project in Delhi. NCC Ltd’s stock soared 6.5% on a ₹1,286 crore road construction order. Cochin Shipyard advanced 4.75% after receiving over 40 shipbuilding orders from foreign countries. Acme India Industries debuted on the BSE SME platform with a 12.76% premium over its IPO price.
Frequently Asked Questions
Q: What caused the rise in IT stocks like TCS and Hexaware?
A: Strong quarterly earnings reports and strategic partnerships, such as Hexaware’s deal with Anthropic, boosted investor confidence in IT stocks despite the US green card suspension.
Q: How did government policies affect pharma stocks?
A: The central government capped trade margins on certain anti-cancer drugs at 30%, which reduced uncertainty and led to a rally in pharma and hospital stocks.
Q: Were there any significant block deals during this period?
A: Yes, ITC experienced a block deal worth ₹9,395.44 crore, where US-based GQG Partners sold a 2.91% stake in the company.
