Top Gainers and Losers
On the NIFTY50 index, Max Healthcare emerged as the top gainer, climbing 8.2% during the week. HCL Technologies and Eternal followed with gains of 7.3% and 6%, respectively. IT giants Infosys (4.7%) and TCS (4.4%) added further momentum.
Meanwhile, the biggest losers included Tata Motors (-5.2%), Trent (-2.6%), HDFC Life Insurance (-1.6%), Tata Consumer Products (-1%), and Hindalco Industries (-0.8%).
The Nifty IT index led the weekly sectoral gains, rising 4.9%, followed by Nifty Realty (2.3%), Nifty Pharma (2.1%), and Nifty Consumer Durables (2.1%). Nifty Bank added 1.8%, reflecting overall positive market sentiment.
Key IT contributors included HCL Technologies (7.3%), LTIMindtree (6.9%), and Coforge (6.8%). On the downside, Nifty Media fell 2.7%, while Nifty FMCG and Nifty Metal slipped marginally by 0.4% and 0.2%, respectively.
Broader Market Trends
The Nifty Midcap 100 outperformed benchmarks, gaining 2.1%, led by Tata Communications (15.9%), BSE Limited (13.9%), FSN E-Commerce Ventures (10.6%), YES Bank (9.8%), and Federal Bank (8.3%).
The Nifty Smallcap 100 also performed well, rising 1.4%. Top performers included PG Electroplast (14%), Karur Vysya Bank (8.3%), CDSL (7.7%), Neuland Laboratories (7.3%), and Go Digit General Insurance (7.2%). Major decliners included Ola Electric Mobility (-7.9%), Aegis Logistics (-7.8%), and Deepak Fertilisers (-4.8%).
Market Drivers
Investor sentiment was buoyed by global market trends, rising commodity prices, and renewed foreign institutional investor (FII) buying. Since October 6, FIIs turned net buyers, acquiring shares worth ₹2,517 crore in the cash market. Additionally, the Q2 earnings season kicked off with Tata Consultancy Services (TCS) reporting results, setting a positive tone for the IT sector.
On Friday, October 10, the SENSEX closed at 82,500.82, up 328.72 points (0.40%), while the NIFTY50 ended at 25,285.35, gaining 103.55 points (0.41%).