Stock Market Today

Why the market moved

Indian markets closed higher on Friday, 16 October 2026, with the NIFTY 50 gaining 0.65% and the SENSEX rising 0.56%, though the advance was narrow with 26 stocks gaining and 24 declining on the NIFTY 50. The session was dominated by a powerful rally in IT stocks — Tech Mahindra surged 8.48%, Tata Consultancy Services 4.89%, and Infosys 4.61%, pushing the NIFTY IT index up 3.92% and capping what the news described as the sector's biggest weekly rally since 2008. On the losing side, InterGlobe Aviation fell 2.21%, BSE Limited dropped 1.91%, and consumer-facing names such as Hindustan Unilever and Nestle weighed on sentiment, while Consumer Durables, Oil & Gas, and FMCG were the weakest sectors. Foreign institutional investors were net buyers at ₹1,165.92 crore, while domestic institutional investors were net sellers at ₹3,661.28 crore; global cues were mixed, with the NASDAQ falling 1.81% amid concerns over AI valuations and high oil prices, though this did not prevent Indian IT from outperforming sharply on Friday.

• IT's time to celebrate when chips are down; Nifty IT soars 11.7% to log biggest weekly rally since 2008it sector outperformance · rupee appreciation · earnings beat
• Railway PSU stocks derailed! RVNL, IRFC, IRCON, RITES to IRCTC down 40% in yr- What went wrong? Experts explainpsu valuation reset · infrastructure execution risk · margin compression
• US stocks: US market ends down sharply; worries about AI trade and high oil prices weighai bubble concerns · crude oil spike · tech sector weakness
• Big US bank stocks head for longest weekly losing streak since 2008banking sector weakness · inflation concerns · ai disruption risk
• CoreWeave stock wipeout exposes divide between AI fear and greedrising bond yields · ai trade volatility · credit market stress