Nifty 50 closed at 22721.95, up 1.6%; IT leads, Pharma & Healthcare lags

The session

Key drivers

Market breadth

Currency, commodities & rates

Currency, commodities and rates

• USD/INR: 95.27, rupee firmer by 0.51% on the session
• India VIX: 14.14 (-7.3%)
• Gold (rupee terms): -0.20% on the session, -0.4% over five sessions

Key drivers

Markets

• Stocks in news: HCL Tech, RBL Bank, Nazara Tech, Hero Motors, Power Grid and IRCON. Indian stock markets struggled on Monday, as the Nifty 50 saw a considerable drop. The falls were attributed to increasing bond yields, consistent outflows from foreign institutional investors, and pervasive global concerns. (Economic Times Markets)
• Market wrap: ITC, Apollo Hospital, Dr Reddy's Labs, Bajaj Auto top gainers and losers on Nifty and Sensex on Monday. Indian equity markets ended lower on Monday as rising bond yields and continued FII outflows weighed on sentiment. The Nifty fell 0.70% to 22,363, while the Sensex lost 0.76% to 71,925. FMCG stocks led sectoral losses, while auto stocks gained. (Economic Times Markets)
• FM Sitharaman's LTCG tax remarks lift Sensex by 900 points. Can markets read hope of review?. Indian equities rallied on Tuesday, with the Sensex surging over 1,000 points after Finance Minister Nirmala Sitharaman said discussions around long-term capital gains tax (LTCG) and securities transaction tax (STT) were ongoing. (ET Stocks)
• Why are IT stocks up today? TCS, Infosys, HCL Tech, Wipro, Tech Mahindra shares rise up to 3% - Time to buy?. Most IT stocks saw solid gains in morning trade on Tuesday, 13 October, with stocks such as TCS, HCL Tech, Wipro, Tech Mahindra, and Infosys, jumping up to 5%, driving the sectoral index Nifty IT higher by 3%. (LiveMint Markets)

Read more Stocks in news: HCL Tech, RBL Bank, Nazara Tech, Hero Motors, Power Grid and IRCON · Market wrap: ITC, Apollo Hospital, Dr Reddy's Labs, Bajaj Auto top gainers and losers on Nifty and Sensex on Monday · FM Sitharaman's LTCG tax remarks lift Sensex by 900 points. Can markets read hope of review? · Why are IT stocks up today? TCS, Infosys, HCL Tech, Wipro, Tech Mahindra shares rise up to 3% - Time to buy?

Economy & policy

Economy and policy

• Inflation Fangs Dig Deeper: BofA, UBS See RBI Hike Interest Rates By 75 Bps In Next Nine Months. Brokerages like BofA, Goldman Sachs, and UBS expect headline CPI to inch higher, given the Iran war, energy supply disruption, and intensifying El Nino backdrop. (NDTV Profit)
• A falling stock is not always cheap: Kotak explains the role of earnings and valuations. Kotak Institutional Equities argues that stock prices are driven by earnings expectations and PE multiples rather than market flows or liquidity. (ET Stocks)
• Singularity AMC pays over Rs 40 lakh to settle AIF rule violation case with Sebi. Singularity AMC, a company rooted in Mumbai, has successfully resolved two significant matters with the Securities and Exchange Board of India (Sebi) concerning violations related to alternative investment funds. (Economic Times Markets)
• LTCG, STT debate: FM Sitharaman to 'tread cautiously' on taxation ahead of Budget. Nirmala Sitharaman says she will tread cautiously on taxation ahead of the Union Budget amid rising debate over scrapping LTCG and STT. (Business Today Mkts)

Read more Inflation Fangs Dig Deeper: BofA, UBS See RBI Hike Interest Rates By 75 Bps In Next Nine Months · A falling stock is not always cheap: Kotak explains the role of earnings and valuations · Singularity AMC pays over Rs 40 lakh to settle AIF rule violation case with Sebi · LTCG, STT debate: FM Sitharaman to 'tread cautiously' on taxation ahead of Budget

Companies

• PVR Inox among 4 stocks hitting 52-week highs; rallied up to 13% in a month. Four BSE 500 stocks, including PVR Inox, PTC Industries, Aditya Infotech and Laurus Labs, hit fresh 52-week highs despite a decline in benchmark Sensex, gaining up to 13% in a month. (Economic Times Markets)
• Hitachi Energy, E2E Networks, Anant Raj, other AI-linked stocks slide up to 5% as global AI rout hits Indian markets. Indian AI- and energy-linked stocks decline as a global technology sell-off deepens, with South Korea’s KOSPI plunging amid intensifying competition in the AI sector. Investors reassess AI valuations following sharp losses in Asian semiconductor stocks. (ET Stocks)
• Rs 26,340 crore added in minutes! Why HCL Tech, TCS and other IT stocks rallied up to 7%. Indian IT stocks rallied up to 7%, with the Nifty IT index gaining 3.3%, as concerns over rising AI investment costs and uncertain returns rattled global technology stocks. (Economic Times Markets)
• ICICI Prudential AMC Q2 results beat estimates, here's what brokerages say. Net profit came at Rs 888 crore in Q2 against Rs 837 crore in the year ago period. Revenue from operations grew 16.3% year-on-year from Rs 1,439.06 crore in the September 2026 quarter of the previous year. (Business Today Mkts)

Read more PVR Inox among 4 stocks hitting 52-week highs; rallied up to 13% in a month · Hitachi Energy, E2E Networks, Anant Raj, other AI-linked stocks slide up to 5% as global AI rout hits Indian markets · Rs 26,340 crore added in minutes! Why HCL Tech, TCS and other IT stocks rallied up to 7% · ICICI Prudential AMC Q2 results beat estimates, here's what brokerages say

Companies

New issues

• HD Fire Protect IPO Day 1 Subscription: GMP, Price Band, Expected Listing Gains And Other Details. The HD Fire Protect IPO price band has been fixed at Rs 258 to Rs 271 per share, with a lot size of 55 shares. At the upper end of the price band, retail investors need a minimum investment of Rs 14,905 to apply for one lot. (NDTV Profit)
• SMIDs rally heats up bets in IPO & secondary market; raises bar on earnings. Smaller IPOs delivered stronger returns than larger issues in the six months, while retail money increasingly flowed into small- and mid-cap funds (Business Standard Mkts)
• Jio IPO may trigger Reliance’s next big re-rating. Why Religare sees 47% upside. Reliance Industries could see a valuation re-rating as Jio Platforms’ proposed Rs 30,000 crore IPO brings greater transparency to its digital business. Religare has a target price of Rs 1,696 on the stock, implying 46.7% upside from its current market price. (ET Stocks)
• Can HD Fire Protect IPO deliver long-term growth for high-risk investors?. HD Fire Protect is set to generate ₹712 crore through an offer for sale, marking a pivotal moment in their funding strategy. Following the IPO, the promoter group's share will drop to 85%, down from the current 100%. (Economic Times Markets)

Read more HD Fire Protect IPO Day 1 Subscription: GMP, Price Band, Expected Listing Gains And Other Details · SMIDs rally heats up bets in IPO & secondary market; raises bar on earnings · Jio IPO may trigger Reliance’s next big re-rating. Why Religare sees 47% upside · Can HD Fire Protect IPO deliver long-term growth for high-risk investors?

Currency, commodities & rates

World

• IMF raises India's growth forecast to 7% for 2026, upgrades outlook by 60 BPS. Its baseline assumes the Strait of Hormuz will reopen in March 2027, with a broad return to prewar conditions by October 2027 (Business Today Mkts)
• Tata-backed Tejas plans entry into new markets in Europe, Global South. The company also won a commercial end-to-end 5G network deployment order in a South American market in the quarter ended June (BS Companies)
• Whisky, Salmon To Annual Data Audits: What The India-UK Trade Pact Entails As Goods Hit Indian Shores. India and the UK will begin exchanging annual data on tariff concession usage one year after their trade pact took effect on July 15, 2026. The exercise is intended to identify implementation hurdles and help more businesses access preferential duties. (NDTV Profit)
• India-UK FTA: Piyush Goyal Unveils Five Core Growth Pillars; Trade Target To Double By 2030. Commerce Minister Piyush Goyal has identified infrastructure and clean energy, advanced manufacturing, research and innovation, financial services, and healthcare and consumer industries as priority areas for India-UK cooperation, with both countries aiming… (NDTV Profit)

Read more IMF raises India's growth forecast to 7% for 2026, upgrades outlook by 60 BPS · Tata-backed Tejas plans entry into new markets in Europe, Global South · Whisky, Salmon To Annual Data Audits: What The India-UK Trade Pact Entails As Goods Hit Indian Shores · India-UK FTA: Piyush Goyal Unveils Five Core Growth Pillars; Trade Target To Double By 2030

What matters next