The Nifty 50 closed 3 points short of 23,000 on Thursday, but the rally was narrow. The Sensex jumped 1,533.72 points. Midcaps and smallcaps still fell, and foreign investors sold ₹5,285 crore.
That split is the biggest test for Friday’s trade. A higher open will not confirm a recovery unless buying spreads beyond the index heavyweights.
Need to Know
- Nifty 50: closed at 22,997.35, up 374.65 points (1.66%).
- Sensex: closed at 74,315.61, up 1,533.72 points (2.11%).
- FIIs: sold ₹5,285.37 crore in cash. DIIs: bought ₹3,319.39 crore.
- Breadth: Nifty Midcap fell 0.36% and Nifty Smallcap fell 1.31%.
- GIFT Nifty: Upstox said at 8:08 am IST that futures pointed to a gap-up of about 107 points. This moves before the open.
- Big event ahead: the Jio Platforms IPO opens on October 21.
Track Live: GIFT NIFTY | NIFTY 50 | SENSEX | FII DII DATA
Why the Nifty rally was narrow
Business Standard reported that the indices rose as falling oil prices eased fears of persistent price pressure. Crude fell about 2% during Thursday’s session. That does not mean the fall will continue on Friday. Nifty IT gained the most, while Nifty PSU Bank fell the most. The Nifty briefly reclaimed 23,000 around 1:10 pm and closed 2.65 points below it.
FIIs sold, DIIs bought
FIIs sold ₹5,285.37 crore and DIIs bought ₹3,319.39 crore on October 15. Net institutional selling was about ₹1,966 crore. The NiftyTrader FII-DII tracker also showed a 15-session FII selling streak. For October so far, it showed FIIs net selling about ₹49,935 crore against DII buying of about ₹51,829 crore.
Domestic money is absorbing foreign selling, but the rally has not yet reached the broader market. Track the latest figures on the NiftyTrader FII-DII tracker.
Global tech sell-off
CNN reported that a hot US inflation report fuelled bets on Federal Reserve rate hikes and hit AI stocks on October 14. It also reported that a global tech sell-off deepened on October 15. CNBC said US investors were rotating away from the AI trade. Indian IT stocks can react differently, depending on their own results and guidance.
Ten stocks to watch today
Each stock below has a specific earnings, corporate-action or order trigger. This is not a prediction of price moves.
1. Tech Mahindra: profit up 32.7%, 1:1 bonus proposed
Q2 FY27 consolidated net profit was ₹1,585.6 crore, up 32.7% year-on-year and 8.2% sequentially. Revenue rose 15.6% to ₹16,180.2 crore, and EBIT margin was 14.8%. New deal wins were $1,023 million, up 25.4%.
The board recommended a 1:1 bonus issue and declared a ₹15 interim dividend with an October 23 record date.
What to watch: Results came after market hours, so Friday is the first session to react. The stock had already gained 4.75% on Thursday to ₹1,650.
2. Persistent Systems: revenue up 30.3%, profit hit by one-off
Revenue was ₹4,663.9 crore, up 30.3% year-on-year, or 20.8% in constant currency. Reported profit fell 25.4% year-on-year to ₹351.5 crore. A ₹185.34 crore one-time expense tied to the Nagarro acquisition drove the drop. Financial Express put adjusted profit, excluding that item, at ₹495.15 crore, up 5%. TCV was $633 million.
Persistent also holds about 94.04% of Nagarro SE and plans a squeeze-out of minority shareholders.
What to watch: Margins as Nagarro is integrated. Results came after the close on Thursday.
3. Wipro: flat revenue, cautious Q3 guidance
Net profit slipped 1.4% year-on-year to ₹3,200.6 crore. Wipro said lower other income after its June buyback weighed on profit. IT services revenue was $2,611.5 million, flat sequentially. Q3 guidance is $2,571–2,625 million, or -1.5% to +0.5% in constant currency.
What to watch: The CEO said seasonal furloughs will affect Q3. Compare this with Tech Mahindra’s stronger quarter.
4. HDFC Life: profit up 13.6%
Q2 standalone profit was ₹508 crore, up from ₹447 crore a year earlier. First-half profit was ₹1,119 crore, up 12.7%.
What to watch: Premium growth and new-business margins in the company’s release.
5. IRFC: profit up 10.2%, ₹1.15 dividend
Net profit rose to ₹1,958.48 crore from ₹1,776.98 crore a year earlier. NPAs remain at zero. The board declared an interim dividend of ₹1.15 per share, with an October 23 record date.
What to watch: Funding costs and the dividend payout, which is due within 30 days of declaration.
6. Bharat Dynamics: ₹1,543 crore torpedo order
The Ministry of Defence signed a ₹1,543 crore contract with Bharat Dynamics for Varunastra heavyweight torpedoes for the Navy. The separate ₹2,563 crore GSAT-7C satellite contract went to NewSpace India, not Bharat Dynamics. Together the contracts total about ₹4,106 crore.
What to watch: Delivery timelines and the order book.
7. Reliance Industries: Jio Platforms IPO price band set
Jio Platforms’ IPO opens October 21 and closes October 23. Anchor bidding is on October 19. The price band is ₹1,065–1,119 per share for a fresh issue of up to ₹30,213 crore. At the upper end of the band, Outlook Money puts the valuation at about ₹10.3 lakh crore, and Reuters has estimated about $108.3 billion. RIL shares rose about 3% on Thursday.
What to watch: Subscription demand and the listing, expected on October 28.
8. IIFL Finance: net profit of about ₹766 crore
IIFL Finance reported a consolidated net profit of about ₹766 crore, above analyst estimates of ₹735 crore, according to ScanX. Growth figures differ by source, so check the exchange filing before quoting a year-on-year percentage.
What to watch: Gold-loan growth and asset quality.
9. YES Bank: Supreme Court ruling on AT1 bonds
YES Bank shares fell as much as 20% to ₹16.96 on Thursday. Upstox reported that the Supreme Court’s ruling in the AT1 bond matter restored bonds that had been written off in 2020. Kotak AMC suspended subscriptions in two schemes holding these bonds.
What to watch: The ruling is a legal outcome. Its accounting and capital impact on the bank will depend on the bank’s disclosures.
10. Mankind Pharma: CAR-T acquisition
Upstox reported that Mankind Pharma will buy a 70% stake in Belgium’s Armed Cell Therapeutics for €48 million, about ₹511 crore, in instalments.
What to watch: The terms in the company’s exchange filing.
Q2 results today
Thirty-one companies report on October 16, including DLF, Punjab National Bank, LTM, Federal Bank, Bajaj Housing Finance, Oberoi Realty, Urban Company, Shoppers Stop and Ujjivan Small Finance Bank.
| Sector | What to track |
|---|---|
| Banks | Net interest margins, deposits, credit costs |
| IT services | Revenue growth, deal wins, guidance |
| Housing finance | Loan growth, funding costs |
| Real estate | Pre-sales, collections |
What decides Friday’s session
1. Institutional flows: Does FII selling ease while DII buying holds?
2. Breadth: Does buying spread to mid- and small-caps, which fell on Thursday?
3. Crude and global tech: Does Thursday’s crude fall hold, and does the global tech sell-off ease?
The 23,000 level is a round-number marker, not a forecast. If the Nifty holds above it on wider participation, the rebound has support. If midcaps keep lagging, Thursday’s move may be an index-level bounce rather than a trend change.
Read Next: Q2 FY27 Bank Results: Indian Bank Profit Rises 15% to ₹3,462 Cr; KVB Jumps 37%, UCO Bank 27%
FAQs
Where did the Nifty close on October 15, 2026?
At 22,997.35, up 374.65 points, or 1.66%.
Did FIIs buy or sell on October 15?
They sold ₹5,285.37 crore in cash, while DIIs bought ₹3,319.39 crore.
When does the Jio Platforms IPO open?
October 21, with the price band at ₹1,065–1,119 per share.
What dividend did IRFC declare?
An interim dividend of ₹1.15 per share, with an October 23 record date.
Disclaimer: This article is for information only and is not investment advice. Verify prices and corporate actions against exchange filings. Investments are subject to market risks.
