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Markets snap two-day losing streak; IT stocks surge
Oct-09-2026

Snapping their two-day losing streak, Indian equity benchmarks rebounded strongly to close significantly higher, with the Sensex surging 879 points and the Nifty rising above 22,500 mark, supported by strong performance in IT stocks, particularly TCS after its Q2 earnings report. Reduced fears of an immediate escalation between the US and Iran, alongside some moderation in crude oil prices and global bond yields, also helped restore risk appetite.  

Some of the important factors in trade: 

India Inc's Q2 revenue growth to moderate to 16-16.5%: Crisil Intelligence in its report said India Inc's revenue is estimated to grow 16-16.5 per cent year-on-year in the second quarter of the current fiscal (Q2FY27), moderating from 17.4 per cent in the preceding quarter.  

Retail securitisation jumps 42% to record Rs 1.46 lakh crore in H1: Crisil Ratings in its report said India's retail assets securitisation market grew 42 per cent year-on-year to a record Rs 1.46 lakh crore in the first half of the current fiscal year (H1FY27) from 1.03 lakh crore a year ago, driven by a sharp rise in gold loan securitisation.

India on track to meet $1-trillion exports target in FY27 despite global challenges: Commerce and Industry Minister Piyush Goyal has expressed confidence that India would achieve $1 trillion in exports of goods and services during the current fiscal (FY27) despite a challenging global economic environment.

FIIs offload over Rs 12,900 crore in equities: Traders overlooked exchange data showed foreign institutional investors (FIIs) extended their selling spree, offloading equities worth Rs 12,943.58 crore on Thursday. 

Positive global cues: European markets were trading higher, while Asian markets ended mostly in green as oil prices slipped in the wake of comments from U.S. President Donald Trump that the U.S. will not attack Iran before the midterm elections next month and that discussions with Tehran remain productive.

Finally, the BSE Sensex rose 879.09 points or 1.23% to 72,472.33 and the CNX Nifty was up by 288.65 points or 1.30% to 22,520.45.

The BSE Sensex touched high and low of 72,669.20 and 71,739.49, respectively. There were 29 stocks advancing against 1 stock declining on the index.

The top gaining sectoral indices on the BSE were IT up by 2.91%, TECK up by 2.10%, FMCG up by 2.02%, PSU up by 1.15% and Bankex up by 1.00%, while there was no losing sectoral index on the BSE.

The top gainers on the Sensex were ITC up by 4.78%, TCS up by 4.23%, Adani Ports & SEZ up by 3.36%, Infosys up by 3.01% and HCL Technologies up by 2.84%. On the flip side, Reliance Industries down by 0.55% was the sole loser.

Meanwhile, Crisil Ratings in its latest report has said that the first half of the current fiscal year (H1FY27) saw a continued steady momentum in India's retail securitisation market, aided by a sharp rise in gold loan securitisation. During the period, retail securitisation volumes grew 42 per cent year-on-year to a record Rs 1.46 lakh crore from 1.03 lakh crore in the corresponding period last fiscal. The second quarter (Q2FY27) accounted for around 60 per cent of the first-half volumes, with issuances exceeding Rs 86,000 crore compared with Rs 54,000 crore in the same period last fiscal. Securitisation entails a lender bundling loan receivables and passing them on to another lender, often at a discount, to meet liquidity requirements. Often, the investing bank acquires the portfolio to comply with mandatory priority sector lending requirements.  

According to the report, non-banking financial companies (NBFCs) continued to dominate the market, accounting for around 95 per cent of issuances during the first half. Vehicle loans continued to be the largest asset class, accounting for 33 per cent of total retail securitisation volumes in H1FY27. Gold loan securitisation emerged as the fastest-growing segment, supported by strong portfolio growth among gold financiers and robust investor demand. Its share of overall retail securitisation volumes more than doubled to 25 per cent from 11 per cent a year earlier.  

The report said retail mortgage-backed securitisation recorded 15 per cent growth, while volumes in the microfinance and combined business and personal loan segments increased 30 per cent. Changing asset mix also led to a shift in the mode of securitisation, with the share of pass-through certificates declining to 47 per cent from a decadal high of 68 per cent in the first half of the previous fiscal year. Banks accounted for nearly 90 per cent of investments, while foreign banks' share rose to around 20 per cent, driven by priority sector lending requirements and attractive risk-adjusted returns.

CNX Nifty touched high and low of 22,580.75 and 22,294.75, respectively. There were 46 stocks advancing against 4 stocks declining on the index.

The top gainers on Nifty were Apollo Hospital up by 4.72%, ITC up by 4.31%, Eicher Motors up by 4.17%, TCS up by 3.85% and HCL Technologies up by 3.38%. On the flip side, BSE down by 1.43%, Reliance Industries down by 0.65%, JSW Steel down by 0.61% and Cipla down by 0.44% were the top losers. 

European markets were trading higher; UK’s FTSE 100 increased 83 points or 0.79% to 10,524.60, France’s CAC rose 32.31 points or 0.42% to 7,762.00 and Germany’s DAX gained 244.13 points or 0.98% to 25,051.10.

Asian markets ended mostly higher on Friday in thinned trade, as South Korean and Taiwanese markets were closed for holidays. Markets got support from easing bond yields and falling crude oil prices after Trump said the United States was engaged in productive discussions with Iran and would refrain from attacking the country before the November 3 midterm elections. Chinese markets gained marginally with caution ahead of China's September inflation figures and trade data following the post-Golden Week market reopening.

Asian Indices

Last Trade            

Change in Points

Change in %      

Shanghai Composite

3,813.79

1.89

0.05

Hang Seng

24,211.35

425.56

1.79

Jakarta Composite

6,093.76

62.48

1.03

KLSE Composite

1,608.45

7.44

0.46

Nikkei 225

69,030.92

-11.19

-0.02

Straits Times

5,401.89

-11.07

-0.20

KOSPI Composite

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Taiwan Weighted

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