Indian Stocks Rally: Trent, IT Firms Lead Gains
Indian equity benchmarks Sensex and Nifty surged in early Friday trade, propelled by robust buying in IT stocks and strong earnings from Trent, a Tata...
The Cliff News | 30 October 2026
Indian stock market benchmark indices, Sensex and Nifty, experienced a significant rally in early trade on Friday, October 30, 2026. The upward movement was primarily driven by strong buying interest in IT firms and positive earnings reports from the Tata Group's retail entity, Trent.
The benchmark 30-share BSE Sensex climbed 138.77 points to reach 74,289.81 in early trading. Concurrently, the 50-share NSE Nifty saw an increase of 38.95 points, trading at 22,967.10.
Trent's Earnings Boost Market Sentiment
A key driver of the market's ascent was Trent, the retail arm of the Tata Group. The company's shares jumped by a notable 6% after it announced a 25% year-on-year increase in its consolidated net profit for the September quarter. The reported profit stood at ₹468 crore, supported by strong revenue growth and operating leverage amidst an inflationary economic environment.
IT Sector Shows Strong Performance
Several major IT companies also contributed to the market's gains. Infosys, Tata Consultancy Services, HCL Tech, and Tech Mahindra were among the prominent gainers, reflecting a positive outlook for the technology sector. Other significant contributors to the rally included InterGlobe Aviation and Sun Pharma.
Conversely, some blue-chip stocks faced downward pressure. Bharat Electronics, State Bank of India, UltraTech Cement, and Tata Steel were noted among the laggards in early trade.
Global Cues and Investor Activity
The global market landscape provided mixed signals. Brent crude, the international oil benchmark, traded higher by 1.19%, reaching $116.3 per barrel. In Asian markets, indices such as South Korea's Kospi, Japan's 225 index, and Shanghai's SSE Composite index were trading lower. However, Hong Kong's Hang Seng index showed an upward trend. Meanwhile, U.S. markets had closed lower on Thursday, October 29.
Investor activity on Thursday indicated a cautious approach from foreign institutional investors. Foreign Institutional Investors (FIIs) offloaded equities worth ₹943.60 crore, according to exchange data.
Earlier on Thursday, October 29, the Indian equity markets had closed on a high note. The Sensex rallied 905.01 points, a gain of 1.24%, to settle at 74,151.04. The Nifty also closed higher, adding 237.90 points or 1.05%, to finish at 22,936.75.