Stock Market Update: Sensex and Nifty Open Higher as IT Stocks Rally

Indian stock markets opened higher on Friday as IT stocks and Reliance Industries led gains, ending a three-day losing streak despite rising crude oil prices and weakness across global markets.

Post Published By: DN Bureau

Updated : 23 October 2026, 11:46 AM IST

Indian stock markets open higher as IT stocks and Reliance Industries lead gains, bringing a three-day losing streak to an end despite weak global cues (Img: Pinterest)

Mumbai: India's benchmark indices opened in positive territory on Friday, ending a three-session losing streak. Gains in IT stocks and Reliance Industries lifted sentiment, despite weakness across Asian markets and rising crude oil prices.

Indian Stock Market Opens on a Strong Note

The Indian stock market began Friday's session on a positive note, bringing relief to investors after three consecutive sessions of selling pressure. Despite a rise in crude oil prices and weak cues from global markets, both benchmark indices moved higher in early trade.

Also Read: UP Sees Business Boost As Yogi Government Focuses On Power Supply, Law And Order

The BSE Sensex climbed to 73,766, while the NSE Nifty 50 advanced to 22,787 during the initial hours of trading. Buying interest in heavyweight stocks, particularly from the information technology sector, helped support the domestic market. However, the sustainability of the recovery remains a key focus for investors amid continued volatility in international markets.

IT Stocks Lead the Market Recovery

IT stocks emerged as the biggest contributors to the early gains. Shares of Tata Consultancy Services (TCS), Infosys and HCL Technologies rose between 2% and 4%, reflecting strong buying interest in the sector. Reliance Industries also supported the upward movement, with its shares gaining more than 1% in early trading. The gains in these heavyweight stocks helped offset weakness in other parts of the market.

Metal Stocks Remain Under Pressure

While IT shares moved higher, metal stocks continued to face selling pressure. Hindalco Industries and Tata Steel featured among the Nifty's top losers, declining between 1% and 1.7%. The contrasting performance highlighted the uneven nature of the market recovery, with investors favouring select sectors rather than buying across the board.

Also Read: SBI Confirms Data Breach, 3,897 Customer Records Found Exposed on Dark Web

Asian Markets Fall as Wall Street Ends Lower

Indian equities traded against a weak global backdrop. The Shanghai Composite declined 1.47%, Japan's Nikkei 225 slipped 1.7%, and South Korea's Kospi fell around 2% during the morning session. Overnight, US markets also closed lower amid rising crude oil prices and heavy selling in AI-related stocks. The Nasdaq Composite dropped 2.6%, while the S&P 500 ended Thursday's session down 1.2%.

Investors will continue to monitor global market cues, crude oil movements and sector-specific trends to assess whether the domestic market's rebound can hold.