Mid‑cap, small‑cap show flat trade while large caps rally in India

Mumbai, Oct 16 — Indian equities ended Friday on a positive note for the second day running, with the Sensex climbing to 74,729.27, up 413.66 points (0.56 per cent), and the Nifty reaching 23,146.15, higher by 148.80 points (0.65 per cent).

Large‑cap stocks led the surge, driven primarily by information‑technology shares. The Nifty IT index surged 3.92 per cent, making it the market’s top performer. Other advancing large‑cap sectors included services, media, metal, auto, PSU banks, infra, consumption, manufacturing, commodities, defence and private banks.

Mid‑cap and small‑cap indices, however, posted marginal moves. The Nifty Midcap 100 fell 67.50 points, a decline of 0.11 per cent, closing at 59,129.75. The Nifty Smallcap 100 slipped 1.90 points to end at 19,129.80, indicating a largely flat session for these segments.

Weight‑loss sectors such as consumer durables, oil & gas, FMCG, realty, healthcare, pharma, PSE and energy recorded losses.

Key gainers in the Sensex cohort included Tech Mahindra, TCS, Infosys, Bharat Airtel, M&M, Bajaj Finance, HCL Tech, NTPC, Ultratech Cement, Maruti Suzuki, Power Grid, Bajaj Finserv, Trent, Eternal, HUL, ICICI Bank and SBI. Companies that lagged behind were IndiGo, Reliance Industries, Asian Paints, BEL, L&T, ITC, Kotak Mahindra Bank, Tata Steel, Axis Bank, ADFC Bank and Sun Pharma.

Analysts pointed to sustained buying pressure in the IT segment, reinforced by robust quarterly earnings and positive guidance from corporate management. Meanwhile, a softer crude oil market and a stronger rupee helped buoy sentiment.

Despite these positives, FMCG stocks remained under pressure due to concerns about margin squeezes from higher input costs. While the rupee’s strength and lower oil prices provide short‑term relief, caution remains warranted amid global inflation trends and geopolitical risks. Broad‑based earnings growth beyond the IT space will be essential to keep the rally alive.