Sensex Rebounds To 72,594, HCLTech Jumps Nearly 5% As IT Stocks Lead Gains
· Free Press Journal
Mumbai: Indian stock markets recovered in early trading on October 13, with buying in HDFC Bank and information technology shares lifting benchmark indices. The Sensex traded at 72,594.15, while the Nifty rose 93.40 points to 22,458.50.
The recovery followed Monday’s losses, although weak overseas markets and continued foreign investor selling remained in focus.
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HCLTech Jumps Nearly 5% After Results
HCLTech gained nearly 5 per cent after reporting a 21.18 per cent increase in consolidated net profit to ₹5,132 crore for the July–September quarter of FY27.
HCLTech Q2 FY27 Results: Net Profit Soars 21.2% To ₹5,132 Crore, AI Revenue Jumps 78% As FY27 Growth Guidance RisesHigher margins from its advanced artificial intelligence operations and a lower tax outgo supported the earnings improvement.
The stock’s advance helped strengthen sentiment towards technology companies, making IT shares a key driver of the benchmark recovery.
Tata Consultancy Services, Tech Mahindra and Infosys were also among the Sensex gainers.
HDFC Bank Supports Benchmark Rebound
HDFC Bank and Trent joined the early winners, adding support beyond the technology sector.
However, buying was not uniform across heavyweight stocks. NTPC, Power Grid, Maruti and Kotak Mahindra Bank were among the laggards.
The mixed performance showed that the rebound was supported by selected large companies, rather than gains across every benchmark constituent.
Sensex Crashes 1,000 Points From Day's High, Know- 5 Key Reasons Behind Nifty's 200-Point FallCrude Eases Despite Weak Global Markets
Brent crude futures declined 1.08 per cent to $105.50 a barrel, providing some relief after concerns over elevated oil prices.
Overseas equity cues remained subdued. South Korea’s KOSPI traded sharply lower, while Japan’s Nikkei 225, Shanghai’s SSE Composite and Hong Kong’s Hang Seng also declined.
US stock markets had finished mostly lower on Monday, leaving the domestic rebound in contrast with the broader international backdrop.
Foreign Selling Continues After Monday’s Fall
Foreign institutional investors sold Indian equities worth ₹1,708.48 crore on Monday, according to exchange data.
In the previous session, the Sensex dropped 547.65 points, or 0.76 per cent, to 71,924.68. The Nifty fell 157.10 points, or 0.70 per cent, to 22,363.35.
The rebound reflected renewed buying in banking and IT shares after Monday’s losses.