Indian stock markets staged a strong recovery on Friday, October 9, after Thursday’s sharp sell-off erased more than Rs 10 lakh crore in investor wealth. The Sensex rose as much as 854 points to 72,447.61, while the Nifty 50 gained 284 points to an intraday high of 22,515.95.
The rebound was driven by gains in information technology stocks, softer crude oil prices and some relief over the immediate risk of further military escalation involving the US and Iran. Here are five major factors influencing the stock market today.
1. IT Stocks Rally After TCS Results
Information technology shares led the market recovery after Tata Consultancy Services (TCS) reported its September-quarter results for FY27. The company’s consolidated net profit increased 15% year-on-year to Rs 13,884 crore, while revenue rose 11% to Rs 73,188 crore.
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TCS shares advanced alongside Infosys, HCL Technologies and Tech Mahindra, lifting the Nifty IT index by more than 3%. Investors also weighed the sector’s artificial intelligence growth opportunities against concerns over US immigration policies, including the proposed $100,000 H-1B visa fee.
2. Crude Oil Prices Ease
Lower crude oil prices offered relief to Indian equities amid concerns over disruptions to energy supplies in the Middle East. Brent crude futures fell 0.7% to $103.53 per barrel, while US West Texas Intermediate (WTI) declined 0.6% to $90.97.
Although oil prices remained elevated after Thursday’s surge, a sustained decline could help ease India’s import bill, inflationary pressures and pressure on the rupee.
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