SENSEX rises over 300 points, NIFTY50 reclaims 23,000 led by Infosys, HDFC Bank

The Indian equity benchmarks rose for a second straight session on Friday, October 30, with NIFTY50 index reclaiming its important psychological level of 23,000 and SENSEX surging as much as 660 points from the day's lowest level powered by gains in index heavyweights. Infosys, HDFC Bank, ICICI Bank, Trent, InterGlobe Aviation, Eternal and NTPC were top movers during the session.

The SENSEX closed 308 points higher at 74,460 and NIFTY50 index advanced 116 points to 23,053.

11 of 15 sector gauges compiled by the National Stock Exchange (NSE) ended lower led by the NIFTY Consumer Durables index's 1.8% fall. NIFTY PSU Bank, Metal, Realty, FMCG and Auto indices also fell between 0.5% and 0.9%.

On the other hand, NIFTY IT, Pharma, and Healthcare indices surged between 1.5% and 2.2%.

Broader markets faced intense selling pressure as NIFTY Midcap 100 index dropped 0.93% and NIFTY Smallcap 100 index plunged 1.85%.

Among the individual shares, Varun Beverages dropped 5.5% after its operating profit margin contracted by 140 basis points to 20.93% from 22.31%.

Shares of Vedanta Power surged as much as 17.35% after it reported a profit before exceptional items of ₹101 crore for the September quarter of the 2026-27 compared with a loss of ₹142 crore a year earlier.

Deepak Nitrite stock rose as much as 9.4% a day after it reported its September quarter earnings.

Deepak Nitrite on Thursday reported a consolidated net profit of ₹398 crore in the July-September period, marking an increase of 234% from ₹119 crore in the same period last year.

The Vadodara-based company's revenue from operations jumped 62% to ₹3,076 crore as against ₹1,902 crore a year earlier.

Deepak Nitrite reported strong operational performance as its EBITDA, also known as operating profit, jumped 207% to ₹627 crore and its EBITDA margin improved by 9.6 percentage points to 20.4%.

Trent was top gainer in the NIFTY50 index, the stock rose 5.44% to close at ₹3,017 after it reported a 25% YoY increase in consolidated net profit to ₹468 crore for the September quarter, as revenue growth and operating leverage supported earnings amid an inflationary environment.

Consolidated revenue from operations rose 22% to ₹5,873 crore, while operating EBITDA increased 37% to ₹785 crore.

InterGlobe Aviation gained 4.33% to close at ₹4,377 after its net loss narrowed to ₹1,878.6 crore in the second quarter compared with a loss of ₹2,581.7 crore in the same period last year.

Analysts made note of the company’s better-than-expected EBITDA (earnings before interest, tax, depreciation, and amortisation), along with its focus on pricing over capacity as jet fuel prices increased. IndiGo guided its PRASK (passenger revenue per available seat kilometre) to grow over 25% in Q3 and FY27.

Infosys, Apollo Hospitals, Power Grid, NTPC, Eternal, HCL Technologies, Grasim, Cipla, HDFC Life and HDFC Bank also rose between 1.39% and 3.26%.

On the flip side, Shriram Finance, Nestle India, Mahindra & Mahindra, Jio Financial Services, Adani Ports, Ultratech Cement, Tata Steel, Adani Enterprises, Coal India and State Bank of India were top losers in the NIFTY50 index.

The overall market breadth was negative as 2,511 shares were declining while 1,013 closed higher on the NSE.