Sensex Rebounds To 72,594, HCLTech Jumps Nearly 5% As IT Stocks Lead Gains

Mumbai: Indian stock markets experienced a rebound in early trading on October 13, with HDFC Bank and information technology shares driving the benchmark indices upwards. The Sensex closed at 72,594.15, while the Nifty rose by 93.40 points to 22,458.50. This early recovery followed Monday's losses, despite weak overseas markets and continued selling by foreign investors.

HCLTech shares surged nearly 5% after reporting a 21.18% increase in consolidated net profit to ₹5,132 crore for the July–September quarter of FY27. Key drivers of the IT sector's performance included higher margins from advanced artificial intelligence operations and a lower tax outgo, which supported earnings improvement. Tata Consultancy Services, Tech Mahindra, and Infosys also contributed to the Sensex gains.

HDFC Bank and Trent were among the early winners that supported the broader rebound, although buying was not uniform across all heavyweight stocks. NTPC, Power Grid, Maruti, and Kotak Mahindra Bank were among the laggards, indicating that the market recovery was driven by select large companies rather than uniform gains. Crude oil prices eased, with Brent crude futures falling 1.08% to $105.50 a barrel, providing some relief after concerns about elevated oil prices.

Overseas equity cues remained subdued, with South Korea's KOSPI falling sharply and Japan's Nikkei 225, Shanghai's SSE Composite, and Hong Kong's Hang Seng also declining. US stock markets had finished mostly lower on Monday, creating a contrast between the domestic recovery and the broader international backdrop. Foreign institutional investors sold Indian equities worth ₹1,708.48 crore on Monday, while the Sensex dropped 547.65 points, or 0.76%, to 71,924.68 from the previous session's close.

The Nifty fell 157.10 points, or 0.70%, to 22,363.35. The market rebound signaled renewed buying interest in banking and IT shares following Monday's losses.