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Indian Markets Surge on IT Gains & Rupee Support
13 Oct
Summary
- Nifty 50 and Sensex rose over 1.5% on October 13, 2026.
- IT stocks rallied sharply after positive HCLTech results.
- RBI measures supported the Indian rupee, which strengthened.
On Tuesday, October 13, 2026, Indian equity benchmarks, including the Nifty 50 and Sensex, experienced a substantial rally, each gaining over 1.5%. This upward movement was significantly influenced by a sharp increase in information technology stocks.
The rally in IT stocks was primarily driven by positive quarterly results from HCLTech, which exceeded expectations and boosted profitability metrics. The Nifty IT index saw its largest single-day gain since May 12, 2025, with HCLTech emerging as a top performer.
Complementing the stock market gains, the Indian rupee strengthened against the US dollar, reaching 95.28. This recovery followed the Reserve Bank of India's (RBI) introduction of supportive measures aimed at easing pressure on the domestic currency.
Market analysts provided positive outlooks for the Nifty 50, suggesting a potential shift from a downtrend to an uptrend. Near-term trading recommendations included Mahindra & Mahindra (M&M) futures, Shree Cement futures, and Cholamandalam Investment and Finance Company (Chola Finance) futures.
