Sensex Today | Stock Market Live Updates: GIFT Nifty trades 40 pts higher; HCLTech in focus

Stock Market Highlights: The market staged a sharp recovery in the last hour of trade, with the frontline indices ending over 1% higher each, led by IT stocks. The Sensex rose 1,109 points to close at 73,034, while the Nifty gained 359 points to end at 22,722. The midcap index recovered nearly 900 points from its intraday low, ending 624 points higher at 59,459. The Nifty Bank advanced 563 points to 55,481.

The Nifty IT index posted its biggest single-day gain since May 2025, with HCLTech surging over 8% after reporting strong Q2 results. The stock recorded its biggest single-day gain since September 2020. TCS has gained nearly 10% since announcing its Q2 results three days ago. Mphasis was among the top gainers as the broader market recovered intraday, with market breadth firmly favouring advances.

Among individual stocks, Shriram Finance jumped over 6% amid reports of a potential stake hike by MUFG. PNB Gilts rose over 6% following strong Q2 results, while Tata Elxsi gained over 5% ahead of its Q2 results. Paytm and MobiKwik saw sharp swings during the session but ended with gains. The NPCI deferred the decision on merchant discount rates (MDR) on UPI transactions until Diwali.

On the other hand, Maruti Suzuki extended its losses to hit an 18-month low, slipping nearly 1%. RBL Bank fell over 7% as concerns over net interest margins (NIMs) weighed on the stock, with brokerages remaining cautious. ICICI Prudential Life Insurance declined over 3% as its value of new business (VNB) and VNB margin missed estimates.

The rupee continued to strengthen against the US dollar following RBI measures, gaining 1.5% over two sessions. Finance Minister Nirmala Sitharaman said it was healthy to have a debate on long-term capital gains (LTCG) tax and the securities transaction tax (STT), adding that she would be keen to hear views on the matter.

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