Sensex and Nifty Climb as IT and Pharma Gains Offset Market Weakness
Indian markets ended higher on Oct 30, 2026, as IT and Pharma gains offset broader selling. See the top gainers and losers here.
The Indian equity markets managed to secure a positive close on Friday, October 30, 2026, as a strong rally in the information technology and pharmaceutical sectors acted as a crucial buffer against widespread selling pressure across the broader market. While many sectors struggled, the resilience of large-cap stocks ensured that both major indices ended the session in the green.
The NIFTY 50 index rose by 116.35 points, marking a 0.51 percent increase to close at 23,053.10. Similarly, the BSE Sensex advanced by 308.49 points, or 0.42 percent, settling at 74,459.53.
Sectoral Divide: The Winners and Losers
The day's trading was characterized by a sharp contrast between sectors. The technology and healthcare spaces led the charge, while traditional heavyweights and mid-cap stocks faced a downturn.
The Gainers
- Nifty IT: Surged by 2.16 percent.
- Nifty Pharma: Advanced by 1.67 percent.
- Nifty Healthcare: Climbed by 1.59 percent.
The Losers
Several other sectors faced significant headwinds, dragging down the broader sentiment:
- Nifty Media: Dropped 1.58 percent.
- Nifty PSU Bank: Retreated 1.15 percent.
- Nifty Realty: Closed 0.93 percent lower.
- Nifty Auto: Declined 0.82 percent.
- Nifty Metal: Slipped 0.66 percent.
- Nifty FMCG: Fell 0.59 percent.
The weakness was even more pronounced in the broader market, with the Nifty Midcap 100 dropping 0.93 percent and the Nifty Smallcap 100 plunging 1.85 percent.
Top Stock Performers and Drags
Individual stock movements provided a glimpse into the quarterly performance and regulatory approvals driving investor sentiment.
Trent emerged as the leader among Nifty 50 gainers, jumping 5.20 percent after its retail arm reported a 25 percent year-on-year increase in consolidated net profit for the September quarter. Other notable climbers included InterGlobe Aviation (IndiGo), Infosys, and HCL Technologies. Sun Pharma also saw a boost following a new US approval for ILUMYA.
Outside the Nifty 50, Vedanta Power saw its shares skyrocket over 15 percent, driven by a turnaround in Q2 FY27 profit to ₹83 crore and a 38 percent revenue jump to ₹2,908 crore. Deepak Nitrite shares rose up to 9.4 percent after announcing a massive 234 percent year-on-year jump in net profit to ₹398 crore.
On the flip side, major losses were recorded by Shriram Finance, Adani Ports, Mahindra & Mahindra, Adani Enterprises, Nestle India, and SBI. Despite reporting a 26 percent growth in revenue, Suzlon Energy fell over 8 percent, while Varun Beverages dropped 5.5 percent due to shrinking operating margins.
Expert Analysis and Market Outlook
Market strategists noted a mixed sentiment, emphasizing that selective buying in healthcare and IT provided a safety net against global volatility.
"Crude oil, which is trading between $115 and $117 per barrel due to Middle East tensions, remains a strengthening headwind," warned Dr. V K Vijayakumar, Chief Investment Strategist at Geojit Investments Limited.
Vinod Nair, head of research at Geojit Investments, pointed out that large-cap stocks showed relative resilience as investors rotated away from global AI-linked equities.
Currency and Institutional Trends
In the currency market, the Indian Rupee strengthened by 33 paise, closing at 94.93 against the US dollar. However, Foreign Institutional Investors (FIIs) remained cautious, selling equities worth ₹943.60 crore on Thursday.
As the Q2 FY27 earnings season continues, investors are now closely watching for the upcoming results from Reliance Industries, which is expected to significantly influence market direction.