Indian Markets Rebound on HDFC Bank, IT Stock Rally
Indian benchmark indices Sensex and Nifty saw a significant rebound in early trade on Tuesday, buoyed by strong performance in blue-chip stocks like HDFC Bank...
The Cliff News | 13 October 2026
Indian equity markets staged a strong comeback in early trading on Tuesday, October 13, 2026, with benchmark indices Sensex and Nifty reversing early losses. The recovery was primarily driven by a rally in heavyweight banking and information technology stocks, providing a much-needed boost after a subdued previous session.
The 30-share BSE Sensex climbed 305 points to reach 72,224.15 in early trade. Concurrently, the 50-share NSE Nifty gained 93.40 points, trading at 22,458.50. This positive movement signals a renewed investor confidence in the domestic market.
IT Sector Leads the Charge
A significant contributor to the market's resurgence was the robust performance of IT stocks. HCL Tech emerged as a standout performer, jumping nearly 5%. This surge followed the company's announcement of a 21.18% rise in consolidated net profit for the July-September quarter of FY27, reporting ₹5,132 crore. The growth was attributed to enhanced margins from its advanced AI operations and a lower tax outgo.
Other prominent IT firms like Tata Consultancy Services, Tech Mahindra, and Infosys also witnessed positive trading. Additionally, blue-chip companies such as HDFC Bank and retail major Trent were among the key gainers, contributing to the broader market uptrend.
Mixed Performance and Global Cues
Despite the overall positive sentiment, some heavyweight stocks traded in the red. NTPC, Power Grid, Maruti, and Kotak Mahindra Bank were among the laggards, indicating selective profit-taking or sector-specific headwinds.
Globally, the market sentiment remained mixed. Brent crude, the international oil benchmark, saw a marginal decline of 1.08%, trading at $105.5 per barrel. Asian markets presented a varied picture, with South Korea's Kospi trading sharply lower. Indices in Japan (Nikkei 225), Shanghai (SSE Composite), and Hong Kong (Hang Seng) also quoted lower, reflecting cautious trading in the region.
U.S. markets had closed mostly lower on Monday, October 12, 2026, adding to the cautious global backdrop. Foreign Institutional Investors (FIIs) continued their selling spree on Monday, offloading equities worth ₹1,708.48 crore, according to exchange data. This outflow from foreign investors had contributed to the previous day's market dip.
Previously, on Monday, October 12, 2026, the Sensex had registered a significant decline of 547.65 points, or 0.76%, closing at 71,924.68. The Nifty had also fallen by 157.10 points, or 0.70%, ending the session at 22,363.35. Tuesday's rebound suggests that the market is absorbing previous pressures and finding new support levels.