Indian stock markets rebounded strongly on Tuesday, October 13, as a rally in information technology (IT) shares lifted benchmark indices and helped investors recover some of the previous session’s losses. The BSE Sensex surged more than 600 points, while the Nifty 50 climbed above 22,550 during morning trade, supported by strong buying in HCL Technologies and Tata Consultancy Services (TCS).
During morning trade, the Sensex gained more than 600 points, while the Nifty 50 advanced above 22,550. The Nifty IT index rose more than 3%, emerging as the strongest sectoral performer. The recovery reflected renewed interest in technology shares following quarterly earnings announcements and improved buying sentiment.
The rebound came after a weak session on Monday, when the Sensex fell 547.65 points, or 0.76%, to close at 71,924.68. The Nifty 50 declined 157.10 points, or 0.70%, to settle at 22,363.35, as rising crude oil prices, foreign fund outflows and global uncertainty weighed on investor sentiment.
Tuesday’s gains were led by technology stocks, with investors responding positively to HCLTech’s September-quarter results. However, market participants remained watchful of international developments, inflation risks and movements in crude oil prices.
HCLTech and TCS were among the leading gainers in early trade, rising around 5% each. Tech Mahindra and Infosys also advanced, supporting the broader recovery. The gains lifted the Nifty IT index as investors reassessed the outlook for technology companies amid concerns about global technology spending and the impact of artificial intelligence on traditional IT services.
On the losing side, NTPC, Power Grid Corporation of India and Kotak Mahindra Bank were among the stocks facing pressure in early trade. The contrasting performance indicated that buying remained concentrated in select sectors rather than extending uniformly across the market.
HCLTech reported a 21.2% year-on-year increase in consolidated net profit to ₹5,132 crore for the second quarter of FY27, compared with ₹4,235 crore a year earlier. Revenue rose to ₹35,620 crore, while the company announced an interim dividend of ₹12 per share.
The results helped revive investor interest in the IT sector, which has faced concerns over global technology spending, client budgets and the potential disruption caused by artificial intelligence. HCLTech’s deal wins and growing AI-related business also attracted attention, although investors will look for further evidence of sustained revenue growth across the sector.
Bandhan Bank shares also attracted buying interest, rising sharply amid reports of potential investment by Abu Dhabi-based funds in its promoter company. The stock emerged as a notable individual performer, even as other banking shares showed mixed trends.
Despite the domestic recovery, international markets remained an important source of uncertainty. Investors continued to assess geopolitical tensions, movements in global bond yields and developments in the technology sector. Weakness in some Asian markets highlighted the challenges facing equities despite positive company-specific triggers.
The Indian rupee also strengthened after measures by the Reserve Bank of India (RBI) aimed at supporting the currency. Exchange-rate movements remain important for investors because a weaker rupee can increase the cost of imports, particularly crude oil, and add to inflationary pressures.
Crude oil prices continued to be a major concern. Brent crude remained above $100 per barrel amid geopolitical tensions and uncertainty over global energy supplies. As one of the world’s largest oil importers, India is vulnerable to sustained increases in energy prices. Higher crude prices can widen the import bill, put pressure on the rupee and raise operating costs for businesses across aviation, transportation and manufacturing.
Inflation has added to the challenges facing the market. India’s retail inflation rose to 5.54% in September, renewing concerns about price pressures and the outlook for monetary policy. Investors will monitor inflation data and currency movements for clues about the RBI’s future interest-rate decisions.
Foreign institutional investor (FII) activity is another factor likely to shape market direction. Persistent overseas selling has weighed on domestic equities, even as domestic investors have helped cushion some of the pressure. Changes in global interest-rate expectations and geopolitical developments could continue to influence foreign investment flows.
The September-quarter earnings season is expected to drive stock-specific movements in the coming days. Investors will track results from banks, IT companies, consumer businesses and other major sectors for indications of demand, profitability and future growth.
Tuesday’s rally offered relief after Monday’s decline, with technology shares providing a clear boost to market sentiment. However, the sustainability of the recovery will depend on further earnings support and an improvement in global conditions. Elevated crude oil prices, inflation concerns and foreign fund outflows remain key risks for Indian equities.