Market Wrap, Oct 6: SENSEX jumps 583 pts, NIFTY50 holds 25,000 level as IT, banking stocks rally; Max Healthcare top gainer

The Indian stock market extended its winning streak for the third straight session on Monday, October 6, driven by strong gains in banking and IT stocks.

IT stocks ended higher, led by notable advances in TCS (2.97%), LTI Mindtree (2.93%), and Tech Mahindra (2.78%).

India’s second-quarter earnings season kicks off this week, with Tata Consultancy Services (TCS) set to announce its results on October 9. Meanwhile, the investors will keep a close eye on the release of the Federal Open Market Committee (FOMC) minutes from its mid-September meeting, scheduled for October 8.

The hospital stocks, like Max Healthcare and Apollo Hospitals, were major contributors on Monday as investors cheered the recent move by the central government.

The Union Health Ministry announced a long-awaited revision of the Central Government Health Scheme (CGHS) rates, updating the prices for nearly 2,000 medical procedures, the first major overhaul in over a decade. The revised rates will be effective from October 13, 2025.

According to exchange data, on Friday, the foreign institutional investors (FIIs) sold equities worth ₹1,583.37 crore on a net basis, while the domestic institutional investors (DIIs) purchased ₹489.76 crore worth of equities.

Foreign portfolio investors (FPIs) remained net sellers of Indian equities in September, withdrawing ₹23,885 crore and taking year-to-date outflow to ₹1.58 lakh crore.

Globally, Japanese stocks led gains across Asian markets on Monday, with the Nikkei surging to record highs after fiscal dove Sanae Takichi’s weekend election victory bolstered expectations of increased government spending and stimulus.

Outside Japan, trading across Asia remained subdued, with market holidays in China and South Korea keeping volumes thin.

Japan's Nikkei closed 4.66% higher, while Hong Kong's Hang Seng slipped 0.67%.

As many as 3,216 stocks traded on the NSE on Monday. Out of this, only 1,386 advanced, and 1,730 declined, while 100 scrips remained unchanged.

This indicated that the market breadth was in favour of declines.

A total of 113 stocks hit their 52-week highs, while 73 stocks touched their one-year lows. Besides, 113 stocks hit their upper circuit limits, and 80 touched their lower circuit bands on Monday.

NSE-listed firms' market capitalisation stood at ₹457.27 lakh crore at the end of the session.

The volatility index India VIX rose 1.31% to end at 10.19 levels.

The broader market also ended with gains on Monday, with the Nifty Smallcap 100 index rising 0.28% to end at the 17,928.05 level, while the Nifty Midcap 100 index closed at the 58,015.10 level, rising 0.89%.

Nifty Bank rose 0.93% to close at 56,104.85, led by gains in AU Small Finance Bank (up 3.03%), IDFC First Bank (3%), and Axis Bank (2.29%).

Further, Nifty IT (2.28%), Nifty Private Bank (1.22%), Nifty Oil and Gas (0.75%), Nifty Realty (0.68%) and Nifty PSU Bank (0.42%) were the top movers among sectoral gauges.

However, Nifty Media (-0.90%), Nifty Metal (-0.89%), and Nifty FMCG (-0.20%) were the only losers. 

Max Healthcare was the biggest contributor, surging 6.34%, followed by Shriram Finance (3.9%), TCS (2.97%), Tech Mahindra (2.78%) and Apollo Hospitals (2.5%).

On the flip side, Trent (-2.3%), Tata Steel (-1.65%), Adani Ports (-1.29%), Power Grid (-1.02%) and Eicher Motors (-0.94%) were the biggest losing stocks on the 50-share index.