Stock Market Today LIVE: Sensex surges 1,300 points, Nifty above 23,000; IT stocks lead

The domestic stock market saw a sharp rally intraday, with the Sensex surging 1,380.70 points, or 1.90%, to 74,162.59, while the Nifty 50 climbed 392.80 points, or 1.74%, to 23,015.50.

Benchmark indices continued to gain in afternoon trade today. The Nifty 50 crossed the 23,000 mark after two weeks and the Sensex is over 74,100 points.

The Nifty 50 was up 390 points, or 1.7%, at 23,015.55 points and the Sensex has risen 1,390 points, or 1.9%, to 74,178.87 points.

IT majors continued to lead with positive market sentiment. Bharti Airtel was the top gainer in the 50-stock index, rising 4%.

Only five stocks in Nifty 50 traded in the red at this hour. Nestle India was the worst hit, falling nearly 4%, after it announced results for Q2FY27.

At this hour, Tech Mahindra was the top gainer, rising 3.76% to Rs 1,635.20. Bharti Airtel gained 3.67% to Rs 1,865, while Reliance Industries, HCLTech and ICICI Bank advanced 2.98%, 2.98% and 2.96%, respectively.

The benchmark indices rose further into the second hour of trade amid heavy buying in IT stocks. The Sensex soared more than 1,000 points, or 1.4%, to 73,810.61 points. The Nifty 50 rose 1.3%, or 300 points, to 22,923 points.

IT stocks were leading the gains. The Nifty IT index has gained 2.3% today. HCLTech was the top gainer in the Nifty 50, leading with 3.5% gains. Tech Mahindra, which is slated to release its Q2FY27 earnings later today, rose 3.2%. TCS and Infosys followed closely, with around 3% gains.

The Securities and Exchange Board of India’s (SEBI) Secondary Market Advisory Committee (SMAC) will meet on Thursday, October 15, to discuss feedback on the newly introduced Closing Auction Session (CAS) framework. SEBI chief Tuhin Pandey confirmed the meeting to The Financial Express on the sidelines of the 5th BFSI Summit.

Also read: SEBI meeting on closing auction session today: Chairman Tuhin Pandey confirms

South Korea’s benchmark Kospi plummeted 8%, triggering a sell-side trading halt in early trade today.

The fall comes amid a tech-led sell off on Wall Street, where stronger-than-expected US inflation data has raised bets of another rate hike.

Kospi has declined for seven consecutive sessions, losing around 20% in this period. This week, the Kospi closed 0.4% lower on Wednesday, 5.5% lower on Tuesday, and 3.7% lower on Monday.

The benchmark indices surged around the first hour of trade. The Sensex jumped 765 points, or 1.1%, to 73,556 points and the Nifty 50 soared 1% to around 22,840 points.

Information technology stocks were leading the gains in early trade, with Tech Mahindra up nearly 4%, followed by Infosys with 3.3% gains. TCS and HCL Technologies were up nearly 3% each.

Shares of Bharti Airtel also surged almost 4%.

Shares of IDBI Bank plunged 6% in early trade. The government will sell a 30.48% stake and the Life Insurance Corporation of India (LIC) will divest 30.24%.

Global investment bank Jefferies sees the move as positive. 

Shares of Sterlite Technologies, MTAR Technologies, and HFCL hit the 5% lower circuit in early trade today.

Sterlite Technologies hit its lower band at Rs 878.45, MTAR at Rs 7,288.5, and HFCL at 243.82.

Shares of BLS International Services surged more than 8% in early trade today.

The stock has declined nearly 7% in the last three months and 25% in the last six months.

Shares of Canara Bank fell 5% in early trade. The lender’s earnings for Q2FY27 were largely in line with expectations. Its asset quality improved, and provisions were lower than expected.

The benchmark indices opened higher, with the Sensex rising over 300 points. The Nifty 50 rose over 100 points, or 0.5%, to 22,730 points while the Sensex was around 73,151 points.

Tech Mahindra was the top gainer in the 50-stock index, leading with 2% gains. Tata Consultancy Services followed closely with 1.5% gains. Hindalco Industries was the worst hit in early trade, down 1.3%.

Shares of IDBI Bank fell nearly 3% in early trade.

The Cabinet Committee on Economic Affairs cleared Fairfax Financial Holdings to buy a 60.72% stake for Rs 52,878.08 crore. The shares come from two sellers: the Government of India, which is parting with 30.48%, and Life Insurance Corporation of India (LIC), which is letting go of 30.24%.

“The hotter-than-expected US inflation print which spiked from 3.4% in August to 3.7% in September has increased the possibility of yet another rate hike by the Fed in October. This concern triggered big selling in the US market which led to a sharp correction of 1.88% in the tech-heavy Nasdaq. AI stocks bore the brunt of the selling. The fear has spread to South Korea and Japan impacting their markets in early trade today. Nikkei is down by above 4% and Kospi down by more than 7%,” said Dr. V K Vijayakumar, Chief Investment Strategist, Geojit Investments.

He further noted, “From the Indian market perspective, the correction in AI stocks is a positive. FIIs who have been selling Indian stocks and buying AI stocks will halt this trend and under favourable conditions might even reverse it. Indications that the finance ministry might reconsider the taxation of LTCGs in the coming Budget, have the potential to keep the market resilient. The strength in the IT stocks following the results of HCLT and the optimism surrounding that will hold the IT index strong. The expected good Q2 results from financials can impart resilience to the market.”

On Wednesday, October 14, Reliance Industries’ subsidiary submitted its red herring prospectus to the Registrar of Companies in Ahmedabad, Gujarat. Anchor investors get the first shot on October 19, and the public issue then runs from October 21 to October 23, 2026.

In Wednesday’s session, the Patodia Group gained 15.6%, followed by the Yash Birla Group, which closed 4.1% higher.

The Nagarjuna Group was the worst hit on Wednesday, ending 5% lower, followed by the Shriram Group at 3.5% lower.

In Wednesday’s trading session, the aquaculture sector gained the most, ending 5% higher. This was followed by the food processing sector, which closed 2.8% higher.

The silver sector was the worst hit, ending 1.9% lower.

Foreign institutional investors continued to be sellers, giving up equities worth Rs 1,857.44 crores on Wednesday, according to NSDL data.

Domestic institutional investors remained buyers and purchased shares worth Rs 2,670.44 crores.

COMEX silver was trading slightly higher at $56.27 per ounce in early trade on Thursday. COMEX silver prices tumbled over 6% in the previous session, falling to a low of $55.570 per ounce.

Silver prices in India were at Rs 207.96 per gram on Thursday.

COMEX gold was trading higher at around $4,163 per ounce in early trade on Thursday, following a sharp fall in the previous session.

The rate for 24-carat gold today in India is Rs 1,45,830 per 10 grams. The 18-carat gold price today in India is Rs 1,09,372.5 per 10 grams. The 24-carat gold rate in Dubai today is Rs 1,36,618.97.

The US Dollar Index (DXY) , which measures the value of the dollar against a basket of six foreign currencies, was trading at 102.06. The index evaluates the strength or weakness of the US dollar with major currencies.

The basket contains currencies such as the British Pound, Euro, Swedish Krona, Japanese Yen, Swiss Franc, and others.

On October 14, the Indian rupee ended at 95.15 against the US dollar.

US stock futures were lower on Thursday morning. The S&P 500 futures fell 0.2% while the Nasdaq-100 futures dipped 0.7%. The Dow Jones Industrial Average futures were flat.

The US 10-year yield was lower at 5.13%.

US Markets on Wednesday: US stocks ended lower on Wednesday. The S&P 500 dropped 1.1% to 7,718.94 points. The Nasdaq Composite lost 1.9% to end at 26,692.87 points. The Dow Jones Industrial Average fell 0.1% to end at 51,621.48.

South Korea’s Kospi plunged nearly 8% in early trade today. The index has declined for seven consecutive sessions, losing around 20% in this period.

This week, the Kospi closed 0.4% lower on Wednesday, 5.5% lower on Tuesday, and 3.7% lower on Monday.

Crude oil prices were over 1% lower in early trade today, with Brent crude oil at $104.71 per barrel. The West Texas Intermediate crude oil futures were 1% lower at $94.17 per barrel.

Crude oil prices remained significantly higher than their pre-West Asia war levels.

Asian markets opened sharply lower on Thursday, with Japan’s Nikkei 225 plunging 3.8% in early trade while the Topix fell 1.8%.

South Korea’s Kospi crashed 6.8% at open while the small-cap Kosdaq plummeted over 7%.

Australia’s S&P/ASX 200 was 0.42% lower.