SENSEX gains over 340 pts, NIFTY trades above 23,100 in noon session; TechM, Wipro, IndiGo among buzzing stocks

Benchmark indices, SENSEX and NIFTY50, were trading with gains in the afternoon session on Friday, October 16, amid buying in information technology (IT) stocks and value buying.

The SENSEX gained as much as 0.62% to hit an intraday high of 74,778.78, while the NIFTY50 surged as much as 0.7% to touch the session’s peak of 23,149.85.

At 1:17 PM, the S&P BSE SENSEX advanced by 342.96 points, or 0.46%, to trade at 74,658.57. Meanwhile, NSE’s NIFTY50 stood at 23,117.55, reflecting a 120.20-point, or 0.52% jump.

The NIFTY50 index was bolstered by buying in the shares of Tech Mahindra, Tata Consultancy Services (TCS), Infosys, Bharti Airtel, and Mahindra & Mahindra, which were among the top winners.

On the contrary, the top losers included InterGlobe Aviation, BSE Ltd, Max Healthcare Institute, Tata Consumer Products, and Jio Financial Services.

Buzzing stocks on October 16: Check list

Capital market stocks such as BSE Ltd, National Stock Exchange (NSE), Angel One, Nuvama Wealth Management, HDFC Asset Management Company (HDFC AMC), Billionbrains Garage Ventures (Groww), among others, were trading mixed on Friday, October 16.

The shares were in focus as market regulator SEBI on Thursday revised the framework for the Closing Auction Session (CAS), changing trading timings and the methodology for determining settlement prices of stock and index derivatives contracts.

Under the revised framework, the 10-minute closing auction session will operate from 3:30 pm to 3:40 pm on all trading days, while trading in index and stock derivatives will continue until 3:45 pm, with certain exceptions for expiring index derivatives contracts, SEBI said in its circular.

Shares of Tech Mahindra rallied as much as 8.9% to hit an intraday high of ₹1,776.50 apiece on the National Stock Exchange (NSE) on Friday, October 16, following strong results in the second quarter of the 2026-27 financial year (Q2 FY27).

It reported a consolidated net profit of ₹1,586 crore in Q2 FY27, rising 8.2% quarter-on-quarter (QoQ) from ₹1,465 crore in Q1 FY27. On a year-on-year (YoY) basis, it registered a growth of 33%.

The company's board also recommended a 1:1 bonus issue, under which shareholders will get one bonus share for every share held, as the company marks its 40th anniversary. The bonus shares are expected to be credited by December 15, according to a regulatory filing.

The stock of YES Bank declined as much as 3.64% to touch an intraday low of ₹17.46 per equity share on the NSE, as investors focused on a 250 basis point (bps) impact on the CET1 ratio due to the Supreme Court’s latest order.

Equity investors continued to maintain selling pressure on the banking stock as the Supreme Court of India quashed the institutional lender’s appeal to write off Additional Tier-1 (AT1) bonds worth ₹8,415 crore.

In an exchange filing on October 16, YES Bank disclosed that the lender is currently reviewing the Supreme Court order and the implications of the same as it plans to make suitable disclosures in due course of time.

Shares of Wipro advanced as much as 6.5% to hit an intraday high of ₹185.45 apiece on the NSE, as investors focused on the company’s slightly better-than-expected overall Q2 earnings performance, despite the sequential fall in net profits in the period.

Citibank said that Wipro delivered slightly better-than-expected earnings in the July to September quarter of FY27, exceeding the muted/low expectations in the period under review. “Forward-looking indicators continue to suggest sluggish trends,” said Citibank analysts.

The company’s IT services business segment revenues are expected to be in the range of $2,571 to $2,625 million in the third quarter of the financial year 2026-27. However, experts predict the outlook to remain weak in the upcoming period.

Cyient DLM stock tumbled as much as 19.2% to hit an intraday low of ₹832.20 per equity share on Friday, October 16, as its EBITDA (earnings before interest, tax, depreciation and amortisation) margin came under pressure and profit grew at a slower pace in Q2 FY27. However, the firm recorded strong revenue growth.

The company reported a 5.8% YoY rise in its consolidated net profit to ₹34.01 crore in the July-September quarter of FY27, as against ₹32.15 crore in the same period of the preceding fiscal year.

At an operational level, its EBITDA, also known as operating profit, stood at ₹34.2 crore in the quarter ended September 30, 2026, marking a 9.5% YoY jump from ₹31.2 crore in the year-ago period.

However, its EBITDA margin contracted by 135 basis points (bps) YoY to 8.7% for the reporting quarter, from 10% in the second quarter of FY26.

Persistent Systems shares fell around 6% to hit an intraday low of ₹5,492 apiece on the NSE, as investors focused on the midcap IT company’s sequential decline in consolidated net profits, while margins largely missed market estimates.

Experts said that the company’s revenue growth was in line with the market estimates and was powered by the large tech deal ramp-ups and Persistent winning an in-vendor consolidation exercise at a large BFS client. The key focus of investors is expected to remain on margins and market expectations of slower client decision-making in the upcoming period.

Persistent Systems posted a 27.2% sequential decline in its consolidated net profit to ₹352 crore in the second quarter of FY27, in comparison to ₹483 crore in the previous quarter of FY27.

The stock of Jio Financial Services Ltd fell as much as 2.7% to hit an intraday low of ₹213.11 per equity share on Friday, after reporting a 51% decline in consolidated net profit to ₹340.44 crore for the September quarter, hit by higher expenses. The company posted a net profit of ₹695 crore in the year-ago period.

Its total income rose about 70% to ₹1,699.41 crore in the second quarter of FY27 from ₹1,002.40 crore in the corresponding quarter of the previous fiscal year, according to a regulatory filing dated October 15.

Interest income rose to ₹1,257.68 crore in the July-September quarter from ₹392.37 crore in the year-ago period.

Shares of InterGlobe Aviation, the parent company of IndiGo, declined as much as 3.4%, as it extended the cancellation of flights to Saudi Arabian cities till October 24 amid the evolving situation in the Gulf country.

Akasa Air separately said that in view of the prevailing security situation in the Middle East, it has extended the suspension of all flights to and from Riyadh until October 24 and Jeddah until October 21.