The Sensex rose more than 400 points on October 23, 2026, with the Nifty50 index reclaiming the 22,750 mark. This rise was mainly led by strong gains in information technology (IT) shares such as Tata Consultancy Services, Infosys, and HCL Technologies. Investors showed confidence in these companies despite mixed global market trends and rising crude oil prices.
- The Sensex increased by as much as 517 points during the trading session.
- The Nifty50 index reached an intraday high of 22,787.
- IT sector stocks led the gains, while other sectors showed mixed performance.
- Global markets were mostly down, influenced by rising crude prices and technology stock selloffs.
- Brent crude futures hit a five-month high due to geopolitical tensions in the Middle East.
Why Did the Sensex Rise on October 23, 2026?
The Sensex rose sharply due to strong buying interest in IT stocks. Companies like Tata Consultancy Services, Infosys, Reliance Industries, Bharti Airtel, Larsen & Toubro, and HCL Technologies were the top movers. The Nifty IT index jumped over 2%, reflecting positive sentiment in the technology sector after recent declines in AI-related stocks globally.
How Did Other Sectors Perform?
While IT shares gained, most other sector indices on the National Stock Exchange (NSE) traded lower. The Nifty Metal index fell over 1%, and indices for Consumer Durables, PSU Banks, Media, Auto, Bank, and Financial Services declined between 0.2% and 1%. Broader markets also faced selling pressure, with the Nifty Midcap 100 index dropping 0.83% and the Nifty Smallcap 100 index plunging 1.25%.
What Was Happening in Global Markets?
Asian markets were mostly down on the same day. Japan's Nikkei dropped 2%, China's Shanghai Composite fell 2.13%, Hong Kong's Hang Seng slipped 0.45%, and South Korea's KOSPI declined 2.5%. US shares ended lower the previous day, dragged down by a selloff in artificial intelligence (AI) stocks. Meanwhile, Brent crude futures surged to $114.7 per barrel, a five-month high, due to concerns over energy supply disruptions caused by conflicts in the Middle East.
What Are the Geopolitical Factors Affecting Oil Prices?
Rising crude prices were influenced by intensified fighting between Saudi Arabia and Yemen-based Houthi rebels. Saudi Aramco evacuated its headquarters in Dhahran amid these clashes. The conflict threatens the Bab el-Mandeb shipping chokepoint at the Red Sea's mouth, which is critical for global oil supply routes.
How Did Individual Stocks Perform?
Swiggy's shares dropped 10% to ₹190 after reporting a net loss of ₹992 crore for the September quarter, despite revenue increasing by over 36% year-on-year. Hindalco was the top loser in the Nifty50 index, falling 1.94% to ₹868. Other declining stocks included Tata Steel, Eicher Motors, Adani Enterprises, Titan, Tata Motors PV, HDFC Life, Adani Ports, Mahindra & Mahindra, Coal India, Power Grid, and Jio Financial Services, which fell between 1% and 1.8%.
On the positive side, TCS, Infosys, HCL Technologies, Apollo Hospitals, Bharti Airtel, Asian Paints, Reliance Industries, and Tata Consumer Products were among the top gainers in the Nifty50 index.
What Was the Overall Market Sentiment?
The overall market breadth was negative, with 2,446 shares falling and 609 advancing on the NSE. This indicates that despite the strong performance of IT stocks, many other stocks faced selling pressure during the trading session.
