The NIFTY50 index reclaimed the 23,000 psychological level on Friday, October 30, rising 116 points to 23,053, while the SENSEX surged 308 points to 74,460. The gains were led by heavyweights such as Infosys, HDFC Bank, ICICI Bank, Trent, InterGlobe Aviation, Eternal and NTPC, all of which posted significant gains during the session. The market closed higher for a second consecutive day, reflecting investor confidence in the top performers. However, 11 of 15 sector gauges compiled by the NSE ended lower, with the NIFTY Consumer Durables index falling 1.8% and other indices such as PSU Bank, Metal, Realty, FMCG and Auto dropping between 0.5% and 0.9%.

On the upside, the NIFTY IT, Pharma and Healthcare indices surged between 1.5% and 2.2%, reflecting robust earnings momentum in technology, pharmaceuticals and medical services. In contrast, the NIFTY Midcap 100 index fell 0.93% and the NIFTY Smallcap 100 index plunged 1.85%, indicating weaker performance in smaller companies. The overall market breadth was negative, with 2,511 shares declining against 1,013 rising on the NSE. The decline in midcap and smallcap indices was driven by selling pressure in sectors such as consumer durables and auto, which saw lower trading volumes.

Varun Beverages fell 5.5% after its operating profit margin contracted by 140 basis points to 20.93% from 22.31%. Vedanta Power surged as much as 17.35% after reporting a profit before exceptional items of ₹101 crore for the September quarter of the 2026-27 year, compared with a loss of ₹142 crore a year earlier. Deepak Nitrite shares rose as much as 9.4% following a 234% jump in consolidated net profit to ₹398 crore for the July-September period, up from ₹119 crore last year.

Trent was the top gainer in the NIFTY50 index, rising 5.44% to close at ₹3,017 after reporting a 25% year‑on‑year increase in consolidated net profit to ₹468 crore for the September quarter. The company’s revenue from operations grew 22% to ₹5,873 crore, while operating EBITDA increased 37% to ₹785 crore, supporting earnings amid an inflationary environment. Trent’s performance was bolstered by strong revenue growth and operating leverage, which helped offset inflationary pressures in its operating environment. The company’s management highlighted continued focus on cost optimisation and product diversification.

Other stocks that rose included Infosys, Apollo Hospitals, Power Grid, NTPC, Eternal, HCL Technologies, Grasim, Cipla, HDFC Life and HDFC Bank, which gained between 1.39% and 3.26%. On the downside, Shriram Finance, Nestle India, Mahindra & Mahindra, Jio Financial Services, Adani Ports, Ultratech Cement, Tata Steel, Adani Enterprises, Coal India and State Bank of India were the top losers in the NIFTY50 index. The overall market breadth remained negative, with 2,511 shares declining against 1,013 rising on the NSE.