Indian equity benchmarks rallied on Tuesday, 13 October, with the Nifty 50 and Sensex gaining over 1.5% each, driven by a sharp rally in information technology stocks following better-than-expected results from HCLTech and improved sentiment after the Reserve Bank of India (RBI) announced measures to ease pressure on the rupee.
The Nifty 50 climbed 1.6% to close at 22,721.95, while the BSE Sensex advanced 1.54% to 73,033.78.
The Indian rupee strengthened to 95.28 against the US dollar, extending its recovery for a second consecutive session after the RBI unveiled additional measures to support the domestic currency.
The Nifty IT index surged 5.2%, marking its biggest single-day gain since 12 May 2025. HCLTech jumped 8.4%, its sharpest daily percentage gain in more than six years, emerging as the biggest gainer on the index. The rally followed the company's quarterly results, which beat estimates, supported by an improvement in profitability metrics.
Jay Thakkar of ICICI Securities has recommended Mahindra & Mahindra (M&M) futures, Shree Cement futures and Cholamandalam Investment and Finance Company (Chola Finance) futures for near-term trading opportunities.