Closing Bell: Nifty Reclaims 23,000 as IT and Pharma Lead, Trent Surges 5% on 25% Q2 Profit Growth, IndiGo Narrows Loss

30 Oct 2026 , 06:00 PM

Indian benchmark indices extended gains for a second straight session on October 30, 2026, with Nifty rising 116.35 points to 23,053.10 and Sensex adding 308.49 points to 74,459.53, led by IT and Pharma stocks as Nifty IT jumped 2.32% and Nifty Pharma touched a record high. Trent surged 5.44% after reporting a 25% rise in Q2 profit, while IndiGo gained 4.33% as its quarterly loss narrowed. However, Nifty Bank slipped 0.41% and 8 of the 13 sectoral indices ended lower, with weak broader-market participation capping the rally. 

Market Overview: Nifty, Sensex, and Bank Nifty Performance

• Nifty 50 closed at 23,053.10 up 116.35 points (0.51%) 

• Sensex ended at 74,459.53, up 308.49 points (0.42%) 

• Nifty Bank settled at 54,686.95, down 222.70 points (0.41%) 

 

Top Gainers 

1. Trent Limited – closing at 3,017.30 up by 5.44%
2. InterGlobe Aviation Limited – closing at 4,877.60 up by 4.33%
3. Infosys Limited – closing at 1,185.00 up by 3.36%
4. Apollo Hospitals Enterprise Limited – closing at 8,448.00 up by 3.02%
5. Power Grid Corporation of India Limited – closing at 265.00 up by 1.92%

 

Top Losers  

1. Shriram Finance Limited – closing at 823.15 down by 2.13%
2. Nestle India Limited – closing at 1,167.00 down by 1.82%
3. Mahindra & Mahindra Limited – closing at 2,840.30 down by 1.72%
4. Jio Financial Services Limited – closing at 204.50 down by 1.21%
5. Adani Ports and Special Economic Zone – closing at 1,850.00 down by 1.18%

 

Trending stocks  

1. Trent Limited – 

• Closed at ₹3,017.30, up 5.44%  

⮚ Strong Q2 Profit Growth Boosted Sentiment: Trent reported a 25% YoY rise in consolidated net profit to ₹468 crore for Q2 FY27, while consolidated revenue from operations rose 22% to ₹5,873 crore. The results were released after market hours on Thursday, and the stock hit an intraday high of ₹3,049.90. 

⮚ Margin Expansion Supported Earnings: Consolidated operating EBITDA grew 37% YoY to ₹785 crore, while gross margin improved by 121 bps to 44.5%, reflecting better profitability across the business. 

⮚ Store Expansion and Emerging Categories Added to Optimism: Trent ended September with 311 Westside and 999 Zudio stores, while emerging categories such as beauty, innerwear and footwear contributed over 21% of revenue. Revenue growth at Star recovered to 20% YoY after five quarters of slower growth. 

⮚ Brokerages Stayed Constructive: Nuvama maintained its Buy rating, citing margin improvement, though it trimmed its target price to ₹3,466 from ₹3,591. Standalone profit rose a more modest 9% to ₹490 crore, with employee costs up 36%. 

 

2. InterGlobe Aviation Limited (IndiGo) – 

• Closed at ₹4,877.60, up 4.33%  

⮚ Narrower Q2 Loss Lifted the Stock: IndiGo’s net loss narrowed to ₹1,878.6 crore in Q2 FY27 from ₹2,581.7 crore a year earlier, a decline of about 27%. 

⮚ Revenue and Operating Profit Improved Sharply: Revenue from operations rose 25.9% YoY to ₹23,363.8 crore, while EBITDA nearly doubled to ₹1,907 crore, with the EBITDA margin expanding by over 500 bps to 8.1%. 

⮚ Strong Pricing Outlook Supported Buying: Management expects PRASK (passenger revenue per available seat kilometre) to grow over 25% in Q3 and FY27, while keeping capacity growth in low single digits and prioritising pricing over capacity. 

⮚ Brokerages Saw Pricing Offsetting Costs: Jefferies and Nomura retained their Buy ratings, while UBS stayed Neutral. Nomura noted that pricing is capturing 80–90% of cost inflation, though ATF expense rose 67% to ₹9,967 crore and passenger numbers fell 4.7%. 

 

3. Infosys Limited – 

• Closed at ₹1,185.00, up 3.36%  

⮚ IT Sector Rotation Lifted Buying: Nifty IT rose about 2.3% as investors rotated into Indian IT stocks amid an AI-led selloff in Asian tech markets, where Kospi fell 3.61% and Nikkei fell 2.52% after weak results from Alphabet, Amazon and Intel. 

⮚ Positive Sentiment After Cognizant’s Results Supported the Sector: IT stocks gained after Cognizant’s quarterly results, with Wipro and Coforge rising over 4% and HCLTech also advancing. 

⮚ Infosys Was a Key Index Contributor: The stock added about 29.75 points to the Sensex, second only to HDFC Bank, and extended its two-day winning streak to gains of about 5.2%. 

⮚ Recovery Remains at an Early Stage: Despite the bounce, Infosys is still down about 27% year-to-date and trades below its 200-day moving average, a level technical data flags as resistance. 

 

4. Shriram Finance Limited – 

• Closed at ₹823.15, down 2.13%  

⮚ Lower Growth Outlook Kept Pressure on the Stock: Shriram Finance cut its FY27 AUM growth forecast to 15–17% from 18%, citing weak monsoon conditions and geopolitical uncertainty. The stock hit an 11-month low of ₹810.20 on October 26 and has stayed near those levels. 

⮚ Higher Credit Cost Concerns Weighed on Sentiment: The company warned of higher credit costs and pressure on borrowers in drought-hit regions, with Jefferies saying credit costs could stay elevated for one to two more quarters. 

⮚ Asset Quality Worries Offset Strong Earnings: Rising stress in Maharashtra, Karnataka and Telangana kept investors cautious, even though Q2 profit rose nearly 60% to about ₹3,677 crore, ahead of expectations. 

 

Sectoral Performance Index 

Indices	Change
Nifty IT	2.32%
Nifty Pharma	1.55%
Nifty Media	-1.46%
Nifty Energy	-0.97%
Nifty PSU Bank	-0.93%
Nifty Auto	-0.87%
Nifty Realty	-0.72%
Nifty FMCG	-0.62%
Nifty Metal	-0.54%

 

Sectoral Performance & Key Reasons 

Sectoral performance remained mixed on 30 October 2026, as strength in IT and Pharma was offset by weakness in several other sectors, with 8 of the 13 sectoral indices ending lower. Nifty IT (+2.32%) emerged as the best-performing sector, supported by positive sentiment after Cognizant’s quarterly results and a rotation into Indian IT stocks amid an AI-related selloff in Asia, with Infosys, Wipro, Coforge and HCLTech leading the gains. Nifty Pharma (+1.55%) also ended higher after touching a record high of 27,263.95 during the session, driven by a rally in CDMO stocks such as Laurus Labs and Piramal Pharma, while Sun Pharma gained on the US FDA approval of Ilumya for psoriatic arthritis. On the other hand, Nifty Media (-1.46%) was the worst-performing sector, followed by Nifty Energy (-0.97%), Nifty PSU Bank (-0.93%) and Nifty Auto (-0.87%), which remained under pressure as Mahindra & Mahindra fell 1.72%. Nifty Realty (-0.72%), Nifty FMCG (-0.62%), where Nestle India declined 1.82%, and Nifty Metal (-0.54%) also ended in the red as weak participation in the broader market, with Nifty Midcap 100 down 0.93% and Nifty Smallcap 100 down 1.85%, limited the gains in the benchmark indices.

 

Main Reasons for Stock Market Up Today  

• IT Stocks Led the Rally as Investors Rotated into Indian Tech 

Nifty IT surged about 2.3%, with Infosys (+3.36%), Wipro and Coforge (over 4%) and HCLTech leading the gains, as sentiment improved after Cognizant’s quarterly results and investors rotated into Indian IT stocks amid an AI-led selloff in Asian tech markets. Infosys alone added about 30 points to the Sensex, second only to HDFC Bank.

• Pharma Stocks Hit a Record High 

Nifty Pharma touched a record high of 27,263.95 and ended 1.55% higher, led by a rally in CDMO stocks such as Laurus Labs (up 6%) and Piramal Pharma. Sun Pharma also gained after the US FDA approved Ilumya for adults with active psoriatic arthritis, even as its Q2 profit fell 36% on a one-time charge of ₹1,269 crore.

•  Strong Q2 Earnings from Trent and IndiGo Supported Sentiment 

Trent surged 5.44% after reporting a 25% rise in consolidated Q2 profit to ₹468 crore, while IndiGo gained 4.33% as its net loss narrowed to ₹1,879 crore from ₹2,582 crore and revenue grew 25.9%. Both stocks were among the top Nifty gainers and helped the index recover.

•  Lower US Bond Yields and a Firmer Rupee Improved Sentiment 

The US 10-year Treasury yield eased to about 4.90% and the dollar index hovered near 101.75, helping the rupee gain 7 paise to 95.19 in early trade and move towards 95.07 by the afternoon, from 95.26 on Thursday. The firmer currency supported sentiment despite elevated crude oil prices.

•  Domestic Institutional Buying and Steady Global Rate Stance Cushioned the Market 

Domestic institutional investors bought ₹1,924 crore of equities on Thursday, more than offsetting FII selling of ₹944 crore. The US Fed, ECB and Bank of Japan all holding rates steady also kept global policy worries in check, helping the Sensex recover about 660 points from its intraday low even as Asian markets fell sharply.

 Summary- 

Indian benchmark indices ended higher on 30 October 2026, extending their gains for a second consecutive session, supported by strong buying in IT stocks, a record high in Pharma, strong Q2 reactions in Trent and IndiGo, and lower US bond yields. However, gains remained capped by weakness in banks, energy, FMCG and the broader market, while elevated crude oil near $113 per barrel and continued FII selling kept sentiment cautious.

• IT and Pharma stocks led the market, driven by sector rotation, Cognizant’s results and a CDMO-led rally, with Infosys, Sun Pharma, Laurus Labs and HCLTech among the key gainers. Trent (+5.44%) and IndiGo (+4.33%) topped the Nifty gainers on strong earnings, while Media, Energy, PSU Banks and Auto declined, and Shriram Finance, Nestle India and M&M led the losers.

• Investor sentiment was supported by lower US yields, a firmer rupee and domestic institutional buying of ₹1,924 crore, but the rally remained narrow, with Nifty Midcap 100 falling 0.93%, Nifty Smallcap 100 falling 1.85% and Asian markets such as Kospi (-3.61%) and Nikkei (-2.52%) closing sharply lower.

With the Nifty 50 closing at 23,053.10, up 116.35 points (0.51%), the Sensex ending at 74,459.53, up 308.49 points (0.42%), and the Nifty Bank slipping 222.70 points (0.41%) to 54,686.95, the day’s trade reflected a narrow rally in IT and pharma stocks that helped the market reclaim the 23,000 mark despite weakness in banks, energy and the broader market.