Sensex, Nifty Extend Winning Streak for Second Day; Broader Market Decline

Indian benchmark indices extended their winning momentum for the second consecutive session on Friday, October 30, 2026. Technology stocks led the recovery, while stock-specific buying following quarterly earnings helped the Sensex and Nifty finish in positive territory. However, broader markets failed to participate in the rally.

At the closing bell, the BSE Sensex gained 308.49 points, or 0.42%, to settle at 74,459.53. The NSE Nifty 50 rose 116.35 points, or 0.51%, to close at 23,053.10. Meanwhile, India VIX, a measure of expected market volatility, increased by approximately 2%, indicating continued uncertainty among market participants.

On a weekly basis, the Nifty 50 gained approximately 2%, recovering losses recorded in the previous week.

IT Stocks Drive Nifty Higher as Technology Shares Rally

Information technology stocks emerged as the biggest contributors to Friday's market gains. Positive sentiment following Cognizant's quarterly earnings encouraged buying across major Indian IT companies.

The Nifty IT index advanced approximately 2.33%, outperforming the broader benchmark indices. Wipro and Coforge gained more than 4% each, while Infosys climbed 3.36%. HCL Technologies rose 1.72%, Tech Mahindra advanced 1.20%, and Tata Consultancy Services gained 0.99%.

The rally in technology stocks provided support to the Nifty despite weakness across several other sectors.

Trent and IndiGo Gain Following Quarterly Results

Corporate earnings remained another important factor influencing individual stock movements during Friday's session.

Trent reported a 22.5% year-on-year increase in revenue to ₹5,788 crore, while its net profit rose 8.6% to ₹490 crore. The company's shares gained more than 5% during the session.

InterGlobe Aviation, the parent company of IndiGo, also attracted buying interest after reporting a narrower quarterly loss of ₹1,879 crore, compared with ₹2,581.7 crore in the corresponding quarter last year. IndiGo shares advanced 4.33%.

Crude Oil Prices Continue to Weigh on Market Sentiment

Elevated international crude oil prices remained a key concern for investors amid ongoing geopolitical tensions in the Middle East.

Brent crude was quoted around $113.29 per barrel in the reported market snapshot. Higher oil prices can increase India's import bill, put pressure on the rupee and raise input costs for businesses dependent on petroleum products.

Mid-Cap and Small-Cap Stocks Decline Despite Benchmark Gains

Friday's market performance revealed a sharp contrast between large-cap stocks and the broader market.

While the Sensex and Nifty ended higher, the Nifty Midcap 100 index declined 0.93%, and the Nifty Smallcap 100 index fell 1.85%.

Sectoral Performance: IT and Pharma Gain, Media Stocks Fall

Sectoral performance remained mixed, with technology and pharmaceutical stocks attracting buying interest.

The Nifty IT index rose approximately 2.32%, while Nifty Pharma advanced 1.55%. Banking stocks delivered a relatively subdued performance, with weakness also visible in select metal and other sectoral stocks.

On the losing side, Nifty Media emerged as the worst-performing sectoral index, declining 1.46% during Friday's session.

The uneven sectoral performance highlighted the selective nature of the market recovery.

European Markets Trade Mixed During Friday's Session

European stock markets displayed mixed trends on Friday, October 30, 2026, as investors remained cautious amid global economic and geopolitical developments.

Germany's DAX index declined 148.95 points, or 0.57%, to trade at 25,890.73. In contrast, the UK's FTSE 100 advanced 21.46 points, or 0.20%, to 10,743.53.

France's CAC 40 index also traded marginally higher, gaining 4.21 points, or 0.05%, to reach 7,974.21.

US Stock Futures Decline, Nasdaq 100 Futures Slide 2.39%

US stock index futures signalled a negative opening for Wall Street, with technology-heavy Nasdaq 100 futures registering the steepest decline among the three major indices.

Dow Jones futures slipped 6 points, or 0.01%, to 52,506. Meanwhile, S&P 500 futures fell 82.50 points, or 1.06%, to 7,671.75.

Nasdaq 100 futures dropped sharply by 707 points, or 2.39%, to 28,855, indicating selling pressure in US technology stocks.