Sensex This Week: Nifty Snaps 8-Week Losing Streak on Oct 10
Indian equities ended the week ended 9 October 2026 on a strong note, with the Nifty 50 closing at 22,520.45 (up 1.30%) and the Sensex at 72,472.33 (up 1.23%) on Friday. The late-week rebound helped both benchmarks snap an eight-week losing streak, as easing crude oil prices and a strong quarterly result from TCS revived buying in IT and banking stocks.
Weekly scorecard: how the indices moved
| Index | Friday close | Friday change | Weekly change |
|---|---|---|---|
| Nifty 50 | 22,520.45 | +288.65 pts (+1.30%) | +0.44% |
| Sensex | 72,472.33 | +879.09 pts (+1.23%) | +0.78% |
| Nifty Midcap 100 | — | +0.5% (Friday) | +0.09% |
| Nifty Smallcap 100 | — | +0.1% (Friday) | +0.44% |
Markets advanced in the first two sessions of the week, came under pressure over the next two, and then rebounded sharply on Friday after Thursday's heavy sell-off — the Nifty advanced on Friday from the previous close of 22,231.80.
What drove the rebound: crude cools, TCS results
- Crude eases off highs: Brent crude fell 1.32% to $102.9 a barrel on Friday, retreating from earlier-week highs of around $105. The spike earlier in the week was linked to a tanker attack off the northern coast of Qatar and fears of a supply-chain disruption in the region.
- TCS Q2 results kick off earnings season: TCS reported on 8 October a 14.9% year-on-year rise in net profit to ₹13,884 crore for the July–September quarter (vs ₹12,075 crore a year ago and ₹13,349 crore in the June quarter). The company said its annualised AI-related revenue has reached $3.1 billion — over 10% of total revenue. The stock rose 3.85% on Friday, and Nifty IT was the best-performing sectoral index, up more than 3%.
- Short covering in banks and IT: HDFC Bank, TCS and Infosys were the top three contributors to Nifty's Friday gains, as short covering in frontline banking and IT stocks drove the advance.
- Better breadth: The advance–decline ratio hit 47:3 on the NSE, with 2,195 stocks advancing on the BSE against 1,955 declining — though 225 stocks still sat at 52-week lows against just 92 at fresh highs, showing lingering weakness beneath the headline recovery.
Top Nifty movers on Friday
| Stock | Friday move | Reason |
|---|---|---|
| Apollo Hospitals | +4.72% | Pharma rally after trade-margin clarity on anti-cancer drugs |
| ITC | +4.31% (₹266.05) | Consumption buying; Nifty FMCG +2.22% |
| Eicher Motors | +4.17% (₹7,011.00) | Auto sector strength; Nifty Auto +1.36% |
| TCS | +3.85% | Strong Q2 results, AI revenue milestone |
| HCL Technologies | +3.38% | IT sector sympathy rally |
| Adani Ports | +3.14% (₹1,761.60) | Broad market recovery |
On the losing side, BSE Ltd fell 1.43% to ₹3,268.00, Reliance Industries slipped 0.65% to ₹1,172.70, JSW Steel edged down 0.61% and Cipla lost 0.44%. Nifty Oil & Gas was the only sectoral index in the red on Friday, while PSU Bank (+1.41%), Private Bank (+1.35%), Auto (+1.36%) and Media (+1.23%) all ended green.
Rupee, crude, gold: the macro picture
- Rupee recovers: The rupee gained 16 paise to close at 96.72 against the US dollar on Friday, recovering after three straight sessions of weakness, helped by a softer dollar and improving risk appetite. (We covered the rupee's slide to record lows in detail: Rupee Falls to Record Low After RBI Hike: Why & What's Next.)
- Crude: Brent ended the week at $102.9/bbl — still elevated above $100, which is why analysts remain cautious despite the pullback.
- Gold and silver: Gold held around ₹13,895 per gram; silver rose 1.64% to ₹2,24,859 per kilogram. (See our separate price piece: Gold Price Today 6 Oct.)
- Rate backdrop: The rally came a day after the RBI's 25 bps repo hike to 5.50% — the first hike since February 2023 — suggesting markets had already priced in the move.
What to watch next week (12–16 Oct)
- Q2 earnings season gathers pace: After TCS kicked things off, more IT majors and banks report this week — the results will set the tone for the October rally attempt.
- September CPI inflation data is due early in the week — key for the RBI's December rate path after the 7 October hike.
- FII flows: Foreign investors kept selling through the week; a reversal would be needed to sustain the bounce.
- IPO pipeline: HD Fire Protect opens 13 October (₹258–271 band), Canara Robeco closes 13 October, Fusion CX opens 14 October, and Bonfiglioli Transmissions and Sahajanand Medical are reportedly opening 15 October — ahead of the Jio IPO anchor book on 19 October.
- Key Nifty levels: market experts peg immediate support at 22,200–22,300 and resistance at 22,700–22,800.
The 8-week losing streak is broken, but with elevated bond yields, foreign outflows and crude still above $100, analysts advise staying selective with disciplined position sizing — the coming earnings prints will decide whether this is a genuine reversal or just a relief rally.
FAQs
How did the Sensex perform this week (ended 9 Oct 2026)?
The Sensex closed the week at 72,472.33, up 879.09 points (1.23%) on Friday and 0.78% for the week — snapping an eight-week losing streak.
How did the Nifty perform this week?
The Nifty 50 ended at 22,520.45 on Friday, up 288.65 points (1.30%) on the day and 0.44% for the week.
Why did Indian markets rally on 9 October 2026?
Brent crude eased from $105 to around $103 a barrel, and TCS's strong Q2 results (₹13,884 crore profit, +14.9% YoY) sparked a rally in IT stocks, aided by short covering in banking stocks.
Which stocks were the top gainers on 9 October 2026?
Apollo Hospitals (+4.72%), ITC (+4.31%), Eicher Motors (+4.17%), TCS (+3.85%) and HCL Technologies (+3.38%) led the Nifty 50 gainers; Nifty IT was the best-performing sector.
What is the Nifty support and resistance now?
According to market experts, the 22,200–22,300 zone is immediate support for the Nifty, while 22,700–22,800 is the immediate resistance zone.
Conclusion
The week ended 9 October 2026 gave Dalal Street its first weekly gain in nine weeks — a 0.78% Sensex advance powered by cooling crude and TCS's Q2 beat. IT, FMCG, banking and auto all joined the Friday rebound, and the rupee steadied after its record-low scare. But with foreign outflows continuing, yields elevated and crude still above $100, the recovery remains fragile: next week's earnings reports and September inflation data will decide whether the 8-week losing streak ends here for good.