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Stock Market Today | Sensex, Nifty inch higher, TCS share price dips after Q2 results, AI plans
Stock Market Today | TCS share price fell as much as 0.7%, a day after its second-quarter results and AI plans. Track updates on Sensex and Nifty today, here.
India's stock market opened higher today led by financials, even as IT stocks posted modest gains after bellwether Tata Consultancy Services Ltd. posted its second-quarter results.
At 9:47 am, the 30-share Sensex was trading 0.25% higher at 82,376.38 points even as the broader Nifty 50 rose 0.38% to 25,278.15 points. The benchmark has risen in five out of the past six sessions, gaining 2.3%, led by about 6% rally in IT stocks.
Twelve of the 16 major sectors gained, with Nifty Bank rising 0.4% and Nifty IT gaining 0.2%. Nine out of 10 Nifty IT stocks advanced, while TCS' share price fell 0.7%. The company had gained 6% in the last six sessions ahead of its quarterly earnings report.
The broader small-caps and mid-caps gained 0.4% and 0.3%, respectively.
TCS posted its second-quarter results on Thursday, wherein revenue rose due to strength in its breadwinner BFSI segment even as net profit took a one-time hit due to severance costs stemming from layoffs. The company now expects stronger growth in the second half of Fiscal 2026.
While TCS results were largely in line, the real catalyst for sentiment was its mega AI plan—India's IT bellwether wants to set up an AI subsidiary that will, to begin with, house its 1-GW AI data centre in India. The company has made a rare acquisition in the US, that of ListEngage for $72.8 million.
Stocks To Watch Today
- Tata Elxsi Ltd.'s profit fell for the fourth straight quarter as transportation business declined amid uncertain markets and geopolitical tensions.
- Mahindra & Mahindra Ltd. says its total production volume rose 24.4% year-on-year to 99,758 units in September.
- Afcons Infrastructure Ltd. gets contract worth ₹576 crore.
- NTPC Green Energy signs deal with Gujarat for solar and wind projects.
The market sentiment is also boosted by return of foreign portfolio investors to net buying over the past three sessions.
On Thursday, foreign institutional investors bought net shares worth ₹1308 crore, according to the National Stock Exchange's provisional data. Domestic institutional investors have remained net buyers for 32 straight sessions.
While the secondary market showed resilience, the primary market also saw a surge in activity, highlighted by the $1.3-billion IPO by LG Electronics India Ltd.—the most subscribed billion-dollar IPO in nearly two decades.
