Tuesday, 13 October 2026. The Nifty rose 358.60 points (1.60%) to 22,721.95, more than twice what it lost on Monday, as IT stocks rallied on HCLTech's results: Nifty IT gained 5.22%. Nearly half of the day's gain came after 2:00 PM; in the afternoon the finance minister said the government would hear views on long-term capital gains tax. The close is the Nifty's highest since 6 October.
HCLTech closed 8.42% higher and took the IT index with it
HCLTech reported after Monday's close: a September-quarter net profit of ₹5,132 crore, up 21.18% from a year earlier, on revenue of ₹35,620 crore. The stock had ended Monday at ₹1,223. Today it closed at ₹1,326, up 8.42%, the biggest gain in the Nifty 50.
The rest of the sector moved with it. TCS rose 6.79% to ₹2,269.30, Tech Mahindra 4.93% to ₹1,543.50 and Infosys 4.13% to ₹1,062.10. Outside the Nifty 50, Mphasis gained 4.79%, Coforge 4.46% and Wipro 4.45%. Nifty IT closed at 29,830.10, up 1,480.50 points from Monday's 28,349.60, after opening at 28,655.40. That is its highest close since 8 September, and HDFC Sky called it the index's strongest single day in over 17 months.
Upstox, writing at midday, listed several reasons beyond one company's numbers: HCLTech's profit was 11% higher than in the June quarter, TCS's results last week were in line with or a little ahead of expectations, and deal bookings have recovered. It also pointed to short covering, meaning traders who had sold IT stocks earlier buying them back. Tech Mahindra reports on Thursday and Infosys on 23 October.
A tax remark, and 172.45 points in the last 90 minutes
Finance Minister Nirmala Sitharaman spoke at the Bloomberg New Economy Forum in New Delhi this afternoon. On long-term capital gains (LTCG) tax, she said the government would keenly hear views, and that with Budget preparations under way it was not the right moment to say what the government would consider. She also said a debate on securities transaction tax (STT) was healthy. She announced no change.
Business Today reported the Sensex up 930 points at 72,854 and the Nifty up 295 points at 22,658 after the remark. On Kite's 15-minute candles the Nifty was at 22,549.50 at 2:00 PM and closed at 22,721.95, so 172.45 of the day's 358.60 points came in the last 90 minutes.
For reference, LTCG on listed shares held for more than a year is taxed at 12.5%, with the first ₹1.25 lakh of gains each year exempt. The rate was raised from 10% in July 2024. I have a new guide on how LTCG, STCG and STT apply to share trades.
Business Today's report also put foreign portfolio investors' withdrawals in 2026 so far at ₹3,07,719 crore, and it also cited the International Monetary Fund raising its forecast for India's growth in 2026-27 to 7%, from 6.4% in July.
The low came in the first 15 minutes
The Nifty opened at 22,364.15, just 0.80 points above Monday's close of 22,363.35. It dipped to 22,288.45 within the first 15 minutes, 74.90 points below that close, and that was the low of the day. By 9:30 AM it was back at 22,471.40, and it reached 22,581.15 in the 9:45 to 10:00 AM candle.
For the next four hours it barely moved. Between 10:00 AM and 2:00 PM the index stayed inside a 96.20-point band, from 22,480.80 to 22,577.00. It then rose in each of the six 15-minute candles to the close, and the closing figure of 22,721.95 is also the highest value Kite shows for the day. The day's range was 433.50 points.
Monday's session ran the other way: a high in the first candle and a low in the last half hour. (When the Nifty usually makes its high and low.) Today was also the weekly expiry for Nifty options.
The Sensex opened at 71,951.73, fell to 71,703.56 and rose as high as 73,045.67 before closing at 73,033.78. Bank Nifty traded between 54,735.95 and 55,551.75.
Where the indices finished
| Market | Close | Change |
|---|---|---|
| Nifty 50 | 22,721.95 | +358.60 pts (+1.60%) |
| Sensex | 73,033.78 | +1,109.10 pts (+1.54%) |
| Bank Nifty | 55,481.05 | +563.05 pts (+1.03%) |
| Nifty Midcap 100 | 59,459.20 | +624.65 pts (+1.06%) |
| Nifty Smallcap 100 | 19,447.40 | +21.60 pts (+0.11%) |
| India VIX | 14.12 | −1.13 (−7.41%) |
The Smallcap 100, which rose on Monday while the Nifty fell, gained only 0.11% today. India VIX traded between 13.95 and 15.35 and closed at 14.12, down from 15.25. (What India VIX measures.) HDFC Sky counted 2,303 advancing shares against 1,711 declining, with 162 unchanged.
Pharma was the only sector lower, and four Nifty stocks fell
| Nifty index | Close | Change |
|---|---|---|
| IT | 29,830.10 | +5.22% |
| Realty | 829.95 | +2.46% |
| Financial Services | 25,228.55 | +1.46% |
| PSU Bank | 8,146.55 | +1.44% |
| FMCG | 44,731.15 | +1.40% |
| Auto | 25,391.85 | +1.23% |
| Metal | 12,088.25 | +1.15% |
| Media | 1,631.70 | +0.42% |
| Energy | 35,975.90 | +0.33% |
| Pharma | 26,075.00 | −0.01% |
Nifty Pharma was the only sector index here to end lower, and by 3.85 points. Of the 50 Nifty stocks, 46 rose and 4 fell.
| Rose | Close | Change |
|---|---|---|
| HCLTech | ₹1,326.00 | +8.42% |
| TCS | ₹2,269.30 | +6.79% |
| Shriram Finance | ₹988.00 | +6.31% |
| Tech Mahindra | ₹1,543.50 | +4.93% |
| Infosys | ₹1,062.10 | +4.13% |
| Hindustan Unilever | ₹1,875.50 | +3.01% |
| Bajaj Auto | ₹10,318.00 | +2.83% |
| Bajaj Finance | ₹982.75 | +2.66% |
| Fell | Close | Change |
|---|---|---|
| Kotak Mahindra Bank | ₹439.00 | −0.99% |
| Eternal | ₹320.45 | −0.79% |
| Maruti Suzuki | ₹11,245.00 | −0.62% |
| Max Healthcare | ₹861.00 | −0.57% |
Shriram Finance was the largest gainer outside IT. HDFC Sky linked its rise to reports of acquisition interest from Japan's Mitsubishi UFJ Financial Group; I have not seen a statement from either company. I have not found a reported reason for the fall in Kotak Mahindra Bank. These are NSE closing prices.
The rupee gained for a third day, to 95.38
The rupee closed at 95.38 to the dollar on provisional figures, 40 paise stronger than Monday's 95.78, PTI reported. It opened at 95.53 and traded between 94.96 and 95.53. That makes 150 paise in three sessions. PTI attributed the move to the Reserve Bank of India's measures of 10 October, a weaker dollar, lower crude prices and the rise in shares; the dollar index was down 0.26% at 102.32.
Brent crude was $104.59 a barrel in the evening, down 1.93%, against $105.37 when I wrote this morning's pre-market report.
FII and DII figures are not out yet
The exchange's provisional cash-market figures for today had not been published when I checked at 6:05 PM. On Monday foreign institutions were net sellers of ₹1,708.50 crore and domestic institutions net buyers of ₹3,045.00 crore. HDFC Sky reported that Monday was the 12th session in a row of foreign selling, with October's outflow at about $4.9 billion. Today's numbers will be in tomorrow's pre-market report. (How to read FII and DII data.)
Wednesday brings wholesale inflation and US inflation
- Wednesday, 14 October: September WPI inflation, two days after retail inflation came in at 5.54%; US inflation data; record date for the TCS dividend.
- Thursday, 15 October: Tech Mahindra's September-quarter results.
- Friday, 16 October: record date for the HCLTech dividend.
- Saturday, 17 October: HDFC Bank and Axis Bank results.
- Tuesday, 20 October: NSE trading holiday.
- Friday, 23 October: Infosys results.
- Tuesday, 27 October: monthly expiry.
I could not confirm a list of Wednesday's company results, so none is given here.
Sources
- Index, sector and stock prices, intraday path and India VIX: Zerodha Kite market data (NSE and BSE)
- Closing report, market breadth and foreign selling streak: HDFC Sky; IT index and Shriram Finance: HDFC Sky
- Reasons for the IT rally: Upstox
- HCLTech results: Business Today
- Finance minister's remarks, afternoon index levels, foreign portfolio withdrawals and IMF forecast: Business Today; the forum, her wording and LTCG rates: Punjab Kesari
- Rupee, dollar index and evening Brent: HDFC Sky (PTI); morning Brent: Trading Economics
- Top movers cross-checked with Angel One
- Monday's FII and DII flows: NSE provisional data via 5paisa
- Calendar: Outlook Money, Kotak Neo, NSE holiday list and expiry rules
This note summarises public news and data for information only. It is not investment advice or a recommendation to buy or sell any security, and I don't publish levels, targets or trade ideas. I am not registered with SEBI as an investment adviser or research analyst.