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Broader Markets Lag as IT Stocks Rally and Benchmark Indices Stage Strong Weekly Recovery
M
Moneycontrol•18-10-2026, 08:28
Broader Markets Lag as IT Stocks Rally and Benchmark Indices Stage Strong Weekly Recovery
- •The BSE Sensex rose 3.11 percent while the Nifty50 gained 2.77 percent during the week, driven by a sharp market recovery.
- •The Nifty IT index surged 11.7 percent to post its biggest weekly gain in 18 years, supported by strong Q2 earnings.
- •Tata Elxsi, KPIT Technologies, and Suzlon Energy emerged as the top midcap gainers despite broader markets underperforming.
- •Foreign institutional investors extended their selling streak to eight weeks, offloading equities worth Rs 8,990.50 crore.
- •Domestic institutional investors provided strong market support by purchasing equities worth Rs 7,812.81 crore.
Key Questions Answered
During the week ended October 16, the BSE Sensex rose 3.11% to 74,729.27, and the Nifty50 gained 2.77% to 23,146.15. Meanwhile, the broader markets underperformed, with the Nifty Midcap 100 index rising 0.6 percent and the Nifty Smallcap 100 index declining around 0.1 percent.
The Nifty IT index surged 11.7 percent, marking its biggest weekly gain in 18 years. This stellar rally was primarily driven by better-than-expected Q2 earnings.
Foreign institutional investors (FIIs) extended their selling streak to the eighth consecutive week, offloading equities worth Rs 8,990.50 crore. In contrast, domestic institutional investors (DIIs) provided ongoing market support by purchasing equities worth Rs 7,812.81 crore.
