Sensex Gains 308 Points, Nifty Reclaims 23,000 as IT and Pharma Stocks Rise and Indexes End October Higher

India's benchmark equity indexes rose for a second straight session on Friday, October 30, 2026, with the Nifty 50 closing back above 23,000 as information technology and pharmaceutical stocks gained. The BSE Sensex rose 308.49 points, or 0.42%, to 74,459.53, and the Nifty 50 advanced 116.35 points, or 0.51%, to 23,053.10, Moneycontrol reported.

The gains were narrow. On the National Stock Exchange, 1,013 stocks advanced, 2,511 declined and 109 were unchanged, while 60 stocks hit fresh 52-week highs and 211 touched new 52-week lows, ET Now reported.

Sector moves

The Nifty IT index rose 2.32% to 32,606.90, the Nifty Pharma index gained 1.55% and the Nifty Healthcare index added 1.58%, Zee Business reported. On the downside, Nifty Consumer Durables fell 1.78%, Nifty Media 1.46% and Nifty Cement 1.26%, with the auto and PSU bank indexes also lower.

Broader indexes lagged the benchmarks. The Nifty Midcap 100 slipped 0.93%, the Nifty Smallcap 100 fell 2.08% and the Nifty Microcap 250 dropped 2.49%, according to Zee Business.

Indian IT shares advanced after U.S.-based Cognizant reported third-quarter revenue of $5.66 billion, up 4.6% from a year earlier, or 4.8% in constant currency, Moneycontrol reported. In its earnings release, Cognizant revised its 2026 constant-currency revenue growth guidance to 4.0% to 4.4%. Moneycontrol noted that the sector also rose while AI-linked stocks fell across Asia.

Biggest movers

Trent was the top Sensex gainer, rising 5.44% to ₹3,022, according to Zee Business. Infosys advanced 2.93%, HCL Technologies 1.63%, Tech Mahindra 1.21% and Tata Consultancy Services 1.07%. InterGlobe Aviation, the operator of IndiGo, climbed 3.30%, NTPC gained 2.04%, Sun Pharmaceutical Industries rose 1.94% and Asian Paints added 1.12%.

Trent's shares moved after the Tata Group retailer reported results after market hours on Thursday. Consolidated net profit rose 25% from a year earlier to ₹468 crore for the September quarter, revenue from operations increased 22% to ₹5,873 crore and operating EBITDA grew 37% to ₹785 crore, Business Standard reported. Its network included 999 Zudio stores and 311 Westside stores as of September.

State Bank of India was the biggest Sensex decliner, falling 1.99%. Mahindra & Mahindra fell 1.84%, Bharat Electronics 1.21%, UltraTech Cement 1.20%, Tata Steel 0.97% and Axis Bank 0.93%, according to Zee Business. On the Nifty, Shriram Finance, Nestle India, Mahindra & Mahindra, Jio Financial Services and Adani Ports were the five biggest losers, ET Now reported.

Weekly and monthly performance

For the week, the Nifty 50 rose 2% and the Sensex gained 1.83%, according to ET Now. For October, the Nifty advanced 1.9% and the Sensex 2.7%, snapping a two-month losing streak, Reuters reported. The IT index jumped 17.7% during the month, its strongest monthly performance in more than six years, with Tata Consultancy Services, Infosys, HCLTech and Tech Mahindra climbing between 16% and 22%. Small-cap and mid-cap indexes fell 4.2% and 3.4%, respectively, over the month after reaching record highs in the previous two months.

Reuters cited hopes of capital-tax relief as one factor behind the monthly gain. "Overall, September-quarter earnings have not sprung any negative surprise and largely have beaten expectations, and reports that the government may consider cutting LTCG (long term capital gains) tax have added a further tailwind," said Kranthi Bathini, director of equity strategy at Wealthmills Securities. The long-term capital gains tax was reintroduced in 2018 at a 10% rate and raised to 12.5% in 2024.

Vinod Nair, head of research at Geojit Investments, said in comments carried by ET Now that "persistent inflation concerns kept equities under pressure despite the ECB and BoJ joining the Fed in holding rates," and that crude oil "extended gains amid fresh reports on U.S.-Iran tensions."

Rupee and results ahead

The Indian rupee ended 30 paise stronger at 94.95 per dollar, compared with its previous close of 95.25, according to Moneycontrol. Jio Platforms, which has risen about 28% since its stock market debut on Wednesday, was due to report results later on Friday, and investors were also awaiting results from its parent, Reliance Industries, Reuters reported.