Stock Market Today LIVE: Sensex jumps over 400 points, Nifty crosses 23,100; Tech Mahindra surges 7%

Share Market Today LIVE, 16th October 2026: The Indian stock markets are trading higher in intraday deals, with both benchmark indices in the green. The Sensex has surged over 400 points, while the Nifty is trading above the 23,100 mark.

Asian markets opened higher this morning, while US markets also closed with gains on Thursday.

Crude oil prices were slightly lower in early trade, with Brent crude at $105.4 per barrel. However, oil prices remained significantly higher than their pre-West Asia war levels. US bond yields were at 5.09%.

The benchmark indices had ended Thursday at two-week highs, supported by heavy buying across information technology stocks.

The Sensex ended 1,533.72 points higher, or 2.1%, at 74,315.61 points. The Nifty 50 ended up 374.65 points, or 1.7%, at 22,997.35 points. The Nifty had soared past the 23,000 level on Thursday.

Tech Mahindra led the top gainers at this hour, rising 7.19% to Rs 1,767.25. Infosys followed with a gain of 3.58% to Rs 1,150.80, while Tata Consultancy Services (TCS) climbed 3.23% to Rs 2,430.45. Bharti Airtel advanced 2.59% to Rs 1,900, and Mahindra & Mahindra (M&M) rose 2.58% to Rs 2,925.55.

Dr. V K Vijayakumar, Chief Investment Strategist, Geojit Investment said, "India has been significantly outperforming other markets this week with 668 point gains in Nifty 50 in the last three days. This outperformance is being driven by the weakening of the AI trade, expectation of some major new changes in the LTCGs taxation in the coming Budget and the positive fallout from the Q2 results which have been better-than-expected, so far, and are likely to maintain the positive trend.

The good results from the IT majors and the positive management commentary have led to a smart 9% revival in the IT index contributing to the resilience of the Nifty. Q2 results of telecom companies, banking, automobiles and metals like copper, aluminium and zinc will be impressive. This can provide the fundamental support to the market."

He added, "Another positive development is the sharp decline in the US10-year bond yield to 5.07%. This, along with the strength in the rupee, can restrain the FII selling a bit. But chances are that they will continue to sell so long as the 10-year yield is above 5% and Brent trades above $100."

"What we are witnessing in the market now is value buying in large-caps. Short-covering in this segment can accelerate this trend," he noted.

Benchmark indices extended gains in the first hour of trade, with the Sensex rising over 400 points and the Nifty crossing the 23,100 mark.

The Sensex rose 0.5% to 74,718.55 points and the Nifty 50 rose 0.6% to 21,123.95 points.

Tech Mahindra soared over 7% and is up for the fourth straight session. The stock has gained around 20% in this period. BSE was the worst-hit in the 50-stock index, falling over 2%.

The shares of CCL Products (India) tanked nearly 8% in early trade on Friday.

The stock has lost 16% in the last three months. However, it up 10% this year.

Shares of Persistent Systems tumbled over 5% in early trade on Friday. The company's net profit for Q2FY27 fell 27% sequentially.

Shares of L&T Finance plunged over 5% after its net profit for Q2FY27 was lower-than-expected.

The stock has declined nearly 19% in the last three months and 10% in the last six months.

Shares of Wipro rose over 4% in early trade today. The company indicated a strong deal pipeline for the second half of FY27 and in FY28.

Japanese brokerage Nomura retained its ‘Buy’ rating on the stock and raised the target price by 5% to Rs 200. This implies an upside of nearly 15% from the stock’s closing price of Rs 174 on Thursday.

The indices turned red in early trade, soon after opening with slight gains. The Sensex was down around 100 points, or 0.1%, at 74,249.51 points. The Nifty 50 was down around 10 points at 22,985.60.

In the Nifty 50, HDFC Life Insurance was the worst hit, declining 2.3%. Jio Financial Services followed, down 1.9%. Shares of BSE also fell 1.9%.

On the other hand, Tech Mahindra surged 5% in early trade and was the top gainer in the 50-stock index. Other IT companies in the index also surged in early trade.

The benchmark indices opened cautious on Friday, with the Nifty opening above the 23,000 mark. Tech Mahindra lead the gains, surging 5% at open.

Other IT companies also rose. TCS was up 2.5%, Infosys up 2%, HCL Technologies up 1.3%.

Anand James, Chief Market Strategist, Geojit Investments said, "While we continue to maintain our 23200-23600 view, it is fair to expect mean reversion moves while below 23070, given yesterday’s sharp rise.

However, dips are expected to find buying interest as long as they don’t stretch beyond 22780."

In Thursday’s session, the Bharti Group gained 3.3%, followed by the Hero Group, which closed 3.2% higher.

The Essar Group was the worst hit on Thursday, ending 5.8% lower, followed by the Nagarjuna Group at 5% lower.

In Thursday’s trading session, the telecommunications sector gained the most, ending 2.6% higher. This was followed by the petroleum sector, which closed 2.1% higher.

The SME sector was the worst hit, ending 4.7% lower.

Foreign institutional investors continued to be sellers, giving up equities worth Rs 5,285.37 crores on Thursday, according to NSDL data.

Domestic institutional investors remained buyers and purchased shares worth Rs 3,319.39 crores.

COMEX silver was trading slightly higher at $57.29 per ounce in early trade on Friday.

Silver prices in India were at Rs 210.9 per gram on Friday.

COMEX gold was trading lower at around $4,149.88 per ounce in early trade on Friday.

The rate for 24-carat gold today in India is Rs 1,47,540 per 10 grams. The 18-carat gold price today in India is Rs 1,10,655 per 10 grams. The 24-carat gold rate in Dubai today is Rs 1,36,618.97.

The US Dollar Index (DXY) , which measures the value of the dollar against a basket of six foreign currencies, was trading at 102.00. The index evaluates the strength or weakness of the US dollar with major currencies.

The basket contains currencies such as the British Pound, Euro, Swedish Krona, Japanese Yen, Swiss Franc, and others.

On October 15, the Indian rupee ended at 95.05 against the US dollar.

US stock futures were largely unchanged on Friday morning. The S&P 500 futures were flat while the Nasdaq-100 futures dipped 0.3%. The Dow Jones Industrial Average futures were also flat.

US Markets on Thursday: US stocks ended higher on Thursday. The S&P 500 gained 0.33% to 7,744.06 points. The Nasdaq Composite gained 0.0.8% to end at 26,713.026 points. The Dow Jones Industrial Average rose 1.1% to end at 52,177.69 points.

Crude oil prices were slightly lower in early trade today, with Brent crude oil at $105.38 per barrel. The West Texas Intermediate crude oil futures were 0.7% lower at $97.27 per barrel.

Crude oil prices remained significantly higher than their pre-West Asia war levels.

Asian markets opened higher on Friday, with Japan’s Nikkei 225 rising over 1% in early trade while the Topix rose 1.14%.

South Korea’s Kospi gained 1.22% at open on Friday, following six days of losses, while the small-cap Kosdaq rose 1.28%.

Australia’s benchmark S&P/ASX 200 was 0.8% higher.