Friday, 30 October 2026. IT shares carried the Nifty 50 up 116.35 points (0.51%) to 23,053.10, its second rise in a row, while smaller companies fell: the Smallcap 100 lost 1.85% and the Midcap 100 0.93%. The Nifty IT index gained 2.32% on a morning after the Nasdaq had fallen 1.38%, and Trent and IndiGo, both of which reported on Thursday evening, were the two biggest gainers in the index. The Sensex rose 308.49 points to 74,459.53.
| Index | Close | Change |
|---|---|---|
| Nifty 50 | 23,053.10 | +116.35 pts (+0.51%) |
| Sensex | 74,459.53 | +308.49 pts (+0.42%) |
| Bank Nifty | 54,686.95 | −222.70 pts (−0.41%) |
| Nifty Midcap 100 | 57,301.25 | −540.40 pts (−0.93%) |
| Nifty Smallcap 100 | 18,463.60 | −347.75 pts (−1.85%) |
| India VIX | 15.30 | +0.18 (+1.19%) |
Against last Friday's close of 22,600, the Nifty gained 453.10 points (2.00%) over the week.
IT rallies through Alphabet's fall and Cognizant's cut
Overnight, Alphabet had dropped 12.64% and the Nasdaq Composite 1.38%, and Cognizant lowered the top of its 2026 revenue growth guidance to 4.4% from 5.5%, which Upstox's morning list flagged as a possible weight on Indian IT. The sector went the other way. 5paisa called IT the biggest contributor to the day's gain.
Infosys rose 3.36% and closed at its high of the day, ₹1,185. HCLTech added 1.72% to ₹1,428.10, Tech Mahindra 1.20% to ₹1,790.80 and TCS 0.99% to ₹2,502.60. Wipro, which left the Nifty 50 at the end of September (what an index change involves), gained 4.32% to ₹198.31. None of the close reports I read gave a specific reason for the IT buying, so I am not offering one.
Trent's results: two profit figures, one share price
Trent's September-quarter numbers came out on Thursday evening. Consolidated net profit rose 25% to ₹468 crore and revenue from operations 22% to ₹5,873 crore, Business Today and Upstox reported. The standalone accounts, which leave out the Star grocery joint venture and other group units, showed profit up 8.6% to ₹490 crore on revenue of ₹5,788 crore, according to Apparel Resources and 5paisa. Zudio opened its 1,000th store in the quarter.
The shares opened at ₹3,018, touched ₹3,060 and closed at ₹3,017.30, up 5.44%, the largest gain in the Nifty 50. Why the consolidated profit is the smaller number but the faster-growing one is worked through in standalone vs consolidated results.
IndiGo's loss narrows 27.2%
InterGlobe Aviation reported a September-quarter net loss of ₹1,879 crore against ₹2,582 crore a year earlier, The Week and Upstox reported. Fuel costs rose 67.2%. Excluding foreign-exchange movements, The Week said, the loss widened to ₹723 crore from ₹103 crore. The shares closed at their day high of ₹4,877.60, up 4.33%.
The rest of the Nifty 50 table
| Nifty 50 stock | Close | Change |
|---|---|---|
| Trent | ₹3,017.30 | +5.44% |
| InterGlobe Aviation | ₹4,877.60 | +4.33% |
| Infosys | ₹1,185.00 | +3.36% |
| Apollo Hospitals | ₹8,448.00 | +3.02% |
| Power Grid | ₹265.00 | +1.92% |
| Adani Ports | ₹1,850.00 | −1.18% |
| Jio Financial Services | ₹204.50 | −1.21% |
| Mahindra & Mahindra | ₹2,840.30 | −1.72% |
| Nestle India | ₹1,167.00 | −1.82% |
| Shriram Finance | ₹823.15 | −2.13% |
Apollo Hospitals also closed at its high. Adani Ports gave back 1.18% after Thursday's 6.29% jump on its results. I found no reported reason for the falls in Shriram Finance, Nestle India or M&M.
Most sector indices fell
Seven of the ten sector indices below ended lower even as the Nifty rose. Media fell the most, and Auto closed at its low of the day.
| Nifty index | Close | Change |
|---|---|---|
| IT | 32,606.90 | +2.32% |
| Pharma | 27,124.85 | +1.55% |
| Financial Services | 24,712.20 | +0.03% |
| Metal | 11,784.90 | −0.54% |
| FMCG | 43,609.20 | −0.62% |
| Realty | 813.90 | −0.72% |
| Auto | 25,422.70 | −0.87% |
| PSU Bank | 8,234.85 | −0.93% |
| Energy | 34,957.90 | −0.97% |
| Media | 1,631.25 | −1.46% |
Pharma's gain came with a wide swing in Sun Pharma, which traded as high as ₹1,855 before closing 0.95% up at ₹1,777.70. Bank Nifty slipped 0.41% after a range of 54,580.75 to 55,068.50, and SBI fell 1.03% to ₹961.85.
Above 23,000 from late morning
The Nifty opened 27.75 points higher at 22,964.50 and drifted to its low of 22,905.10 in the 10:15 five-minute candle, 31.65 points under Thursday's close. It was back above 23,000 by the 11:05 candle and, from 11:10 onwards, did not trade below that mark again; the nearest it came were 23,000.25 at 14:00 and 23,000.65 at 15:10. The high, 23,118.10, 181.35 points above Thursday's close, came in the 12:55 candle. The close was 65 points below it, within a day's range of 213 points. When those extremes usually fall is counted in the time-of-day study of Nifty highs and lows.
The Sensex moved between 74,082.03 and 74,742.59. India VIX rose 1.19% to 15.30, between 14.47 and 15.70.
Reliance waits for its numbers
Reliance Industries slipped 0.21% to ₹1,164.90 and Jio Platforms rose 0.68% to ₹1,431.30, ahead of both boards meeting on September-quarter results today. I had not seen either set of figures on the outlets I checked by 6:40 PM, so they will be in Monday's pre-market report. Kotak Neo put the January Brent contract at $113.09 a barrel at the Indian close.
Flows: Friday's figures not out yet
Friday's provisional FII and DII figures were not on 5paisa when this was written and NSE's page did not load. The latest are Thursday's: foreign investors sold a net ₹943.60 crore of shares and domestic institutions bought a net ₹1,924.40 crore (reading the FII and DII numbers).
Monday and next week
The next session is Monday, 2 November. The weekly Nifty F&O expiry is on Tuesday, 3 November, and NSE is shut on Tuesday, 10 November. Before Monday's open I will be looking for Reliance's and Jio Platforms' results, Friday's flow figures and the US close.
Sources
- All closes, intraday highs and lows, five-minute candles and weekly change: Zerodha Kite market data (NSE and BSE)
- Market drivers and IT contributions: 5paisa post-market update; gainers, losers and Brent: Kotak Neo market wrap
- Alphabet and the Nasdaq: Associated Press via La Nación; Cognizant guidance: Upstox stocks to watch
- Trent results: Business Today, Upstox and Apparel Resources
- IndiGo results: The Week and Upstox
- Thursday's institutional flows: 5paisa's table of NSE provisional figures
- Reliance results date: Upstox; holidays and expiry: 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.