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Sensex surges 766 points and Nifty reclaims 23100 mark in strong market recovery
M
Moneycontrol•16-10-2026, 15:59
Sensex surges 766 points and Nifty reclaims 23100 mark in strong market recovery
- •Sensex and Nifty staged a sharp recovery from day's lows driven by value buying and heavy buying in the IT sector.
- •Sensex closed 413.66 points higher at 74,729.27 while Nifty advanced 148.80 points to finish above the 23,100 mark at 23,146.15.
- •The rally received strong support from the IT sector which surged nearly 4 percent along with a solid comeback by banking stocks.
- •Softer crude oil prices and positive technical factors also provided crucial support to the market momentum.
Key Questions Answered
Value buying by investors, strong support from the IT sector where the Nifty index surged about 4%, banking shares recovery, and softer crude oil prices near $105 per barrel helped the indices rebound.
On October 16, 2026, the Sensex closed up by 413.66 points at 74,729.27, and the Nifty closed 148.80 points higher at 23,146.15.
While benchmark indices recovered, the broader market's recovery failed as the Nifty Midcap 100 and Nifty Smallcap 100 turned from red to green and eventually closed back in the red zone.
