Stock Market LIVE: Sensex Gains Nearly 700 Points, TCS Jumps 5%; Healthcare Stocks Rally Up to 5%

IT strength, softer crude oil prices and buying in healthcare shares support sentiment on Dalal Street, while mixed broader-market trends and stock-specific volatility keep investors cautious

Indian Markets Open Higher as IT Stocks Rally

Indian equity markets traded with mixed momentum on Friday, October 9, 2026, as gains in information technology and selected healthcare stocks supported sentiment amid easing crude oil prices in Asian trading.

At around 10 am, the Sensex was reported at 72,259.46, up 666.22 points or 0.93 per cent. The Nifty 50 was reported at 22,457.85, although the accompanying live-market headline indicated a gain above 22,450. The supplied market update contains an inconsistency in the Nifty’s reported point and percentage change, so that figure should be verified against live exchange data before publication.

The market advance was led by technology stocks, with Tata Consultancy Services (TCS) emerging as a key contributor following its September-quarter results. Healthcare counters also attracted buying interest amid reports of a proposed government move to cap trade margins on certain cancer medicines.

TCS Shares Jump After Strong Q2 Profit Growth

TCS shares climbed as much as 4.7 per cent to ₹2,174 on the NSE after the IT services major reported a 14.9 per cent year-on-year increase in consolidated net profit for the second quarter of FY27.

The company posted a net profit of ₹13,884 crore, compared with ₹12,075 crore in the corresponding quarter of the previous financial year.

The results put TCS in focus as investors assessed the company's earnings growth, demand environment and operating margins. While stronger profitability supported the share price, investors will also examine management commentary on client spending, deal momentum, artificial intelligence-led services and the outlook for global technology budgets.

Infosys, Tech Mahindra and HCL Technologies were among the other IT stocks attracting buying interest during early trade.

Nifty IT Leads Sectoral Gains

The Nifty IT index advanced approximately 2.79 per cent at the open, making it the strongest-performing sectoral index in the supplied market update.

The rally reflects renewed buying in technology shares following TCS's earnings announcement. Investors may also be positioning themselves ahead of further quarterly results from major IT companies.

However, the sector's performance will depend on whether stronger earnings translate into sustained revenue growth and improved margins. Global technology spending, currency movements, wage costs and demand from major overseas markets remain important variables for the industry.

Healthcare Stocks Rally on Cancer Drug Margin-Cap Reports

Healthcare shares were among Friday's notable gainers after reports indicated that the Centre intends to cap trade margins on non-scheduled cancer medicines at 30 per cent.

Fortis Healthcare, Apollo Hospitals Enterprise, Max Healthcare Institute and Yatharth Hospital & Trauma Care Services gained as much as 5 per cent during the session.

Apollo Hospitals and Max Healthcare were also among the leading gainers in the Nifty 50, according to the supplied market update.

The reported proposal could have implications for the pricing and distribution of certain cancer medicines. However, the potential impact on hospital operators, pharmaceutical distributors and other healthcare businesses will depend on the final policy details and how the proposed cap is implemented.

Investors should distinguish between the immediate market reaction and the eventual financial impact on individual companies.

Hexaware Technologies Surges After Anthropic Partnership

Hexaware Technologies shares jumped sharply after the company announced a partnership with artificial intelligence company Anthropic.

The stock initially rose around 12 per cent, with the supplied update reporting an intraday high of ₹574.50 after an earlier reference to ₹533.

The partnership placed AI-led enterprise services in the spotlight, as technology companies seek to integrate generative AI into business processes, software development and customer-service operations.

For investors, the key question is whether such partnerships generate measurable business outcomes through new contracts, higher-value services and improved productivity. Announcements can support sentiment, but sustained share-price performance will depend on commercial execution and revenue contribution.

PSU Banks and JSW Steel in Focus

Public-sector banking stocks also attracted buying interest during early trade. Bank of Maharashtra, Canara Bank and Punjab National Bank were among the leading gainers in the Nifty PSU Bank index.

The performance of PSU banks will remain sensitive to credit growth, deposit mobilisation, asset quality and net interest margins. Investors will also monitor quarterly earnings for indications of whether lending growth can be maintained without a significant deterioration in credit costs.

Meanwhile, JSW Steel shares gained around 1.4 per cent to an intraday high of ₹1,192 after the company reported a 10 per cent quarter-on-quarter increase in overall India production.

The production update offered investors a fresh indicator of operational momentum in the steel business. Going forward, steel prices, raw-material costs, domestic demand and capacity utilisation will influence the company's earnings outlook.

Broader Markets Remain Mixed

The broader market displayed a less uniform trend than the headline indices.

The Nifty MidCap 100 opened higher, while the Nifty SmallCap 100 declined by around 0.82 per cent in early trade. By approximately 10 am, the Nifty MidCap was reported up 0.54 per cent, whereas the Nifty SmallCap remained marginally lower by 0.17 per cent.

This divergence suggests that buying interest was concentrated in selected large-cap technology and healthcare counters rather than spread evenly across the market.

Eternal, ICICI Bank and Bharat Electronics were among the stocks identified as laggards from the Sensex pack in the early-session update. Metal and pharmaceutical stocks also faced selling pressure even as IT and FMCG shares outperformed.

Crude Oil and Global Cues Remain Important

Softer crude oil prices in Asian trading provided a supportive backdrop for Indian equities. Lower oil prices can ease concerns about imported inflation, fuel costs and pressure on India's external balance, although the impact depends on the extent and duration of the decline.

For a country that imports a substantial share of its crude oil requirements, a sustained reduction in prices can support the rupee, moderate inflationary pressure and improve the cost environment for oil-consuming industries.

However, crude prices remain vulnerable to geopolitical developments, supply disruptions and changes in global demand. Currency movements, foreign institutional investor flows and international bond yields will also influence domestic market sentiment.

Market Outlook

The immediate market direction is likely to depend on the sustainability of the IT rally following TCS's results, the response to the reported cancer-drug pricing proposal and the next set of corporate earnings announcements.

The Nifty 50's reported level around 22,450 should be assessed alongside verified live exchange prices before drawing technical conclusions. Traders should watch whether the index sustains its early gains and whether participation broadens beyond a handful of heavyweight stocks.

Key factors to watch:

IT earnings: TCS's profit growth and commentary on demand, margins and AI-led opportunities.
Healthcare policy: Further clarity on the proposed 30 per cent trade-margin cap for certain cancer medicines.
Crude oil: Whether lower prices persist and ease concerns about inflation and the rupee.
Market breadth: Whether mid-cap and small-cap stocks begin participating more consistently in the rally.
Corporate updates: Production figures, earnings announcements and company-specific developments that could drive individual stocks.

The early session points to opportunities in selected technology and healthcare counters, but the uneven performance of broader indices warrants caution. Investors should avoid chasing sharp intraday rallies and evaluate valuations, earnings visibility and risk levels before making investment decisions.

Market data reflects the supplied live-market update for October 9, 2026. The Nifty figures contain an internal inconsistency and should be verified before publication.