Sensex, Nifty extend rebound as IT, metals shine; TCS up before Q2 results

The stock market ended higher on Thursday, led by gains in information technology and metal stocks, as investors positioned themselves ahead of TCS earnings and took comfort from a broad-based rebound across sectors.

The NSE Nifty 50 rose 136 points, or 0.54%, to close at 25,182, while the S&P BSE Sensex advanced 398 points to 82,172. Market breadth favoured advances, with mid- and small-cap stocks continuing to outperform. The Nifty Midcap 100 climbed 0.97% to 58,430, and the Nifty Bank index added 174 points to 56,192.

IT shares extended gains for a second straight session ahead of Tata Consultancy Services’ (TCS) September-quarter results, with the Nifty IT index up 1%. TCS rose 1% to end at the day’s high. Metal names also supported the upmove, rising 2% as global prices firmed, while insurance stocks advanced ahead of monthly business data, with SBI Life emerging as the top gainer.

Pharma counters saw a relief rally after reports said certain generic drugs were excluded from tariff lists, boosting Aurobindo Pharma by 4%. Capital market stocks rallied on reports that the regulator may soon release a consultation paper on derivative trading rules, pushing BSE shares up 4%.

Among individual movers, Prestige Estates gained 5% after reporting a strong quarterly update, and Hindustan Copper surged 6% on reports of positive developments related to Glencore. Airline shares witnessed heavy buying, with SpiceJet soaring 16% and InterGlobe Aviation (IndiGo) rising 2%. GM Breweries jumped 19% after posting robust second-quarter results, while Info Edge slipped 2% following slower standalone billing growth of 12% in Q2.

Overall, sentiment remained upbeat, underpinned by expectations of resilient earnings from the IT sector and optimism over domestic demand ahead of the festive season.