# Sensex, Nifty extend gains for 2nd day: IT stocks lead rally, broader market underperforms — retained record

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source: [news](https://highsignal.app/data/news) (news:india-cnbc-tv18)  published 2026-10-30 10:17 ingested 2026-10-31 02:56

[original source ↗](https://www.cnbctv18.com/market/sensex-nifty-extend-gains-for-2nd-day-it-stocks-lead-rally-broader-market-underperforms-20023387.htm)

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Sensex, Nifty extend gains for 2nd day: IT stocks lead rally, broader market underperforms
- Published OnOct 30, 2026 | 15:41 IST
- Last Updated OnOct 30, 2026 | 15:47 IST
Information technology heavyweights drove a broader market recovery, while select chemical and manufacturing counters surged on strong quarterly earnings. Meanwhile, lenders and midcaps underperformed alongside sharp losses in Suzlon following a guidance cut. See which sectors are expected to drive momentum next week.
The equity benchmark indices ended higher for the second consecutive session on Friday (October 30), with the Sensex and Nifty closing near the day's high as buying in information technology (IT) stocks and select heavyweight shares supported the rally.
The Nifty held above the 23,000 mark, although the broader market underperformed. The Sensex gained 308.5 points, or 0.42%, to settle at 74,459.5, while the Nifty rose 116.3 points, or 0.51%, to close at 23,053.
The Nifty IT index advanced for the second straight session, with Wipro and Infosys emerging as the top gainers on the Nifty. IndiGo also gained over 4% to emerge as the benchmark's top gainer following a positive brokerage note.
ALSO READ | Asian Paints share price target cut by multiple analysts citing margin concerns, competition
However, the broader market remained under pressure. The Nifty Bank index declined 223 points to 54,687, while the Nifty Midcap index fell 540.4 points to 57,301.
What Drove The Market Today?
1. IT Stocks Extend Gains
Information technology stocks continued their upward move, with the Nifty IT index rising for the second consecutive session. Wipro and Infosys were among the top Nifty gainers.
2. Stock-Specific Buying In Q2 Result Counters
Navin Fluorine gained over 5% following its second-quarter results. Laurus Labs advanced over 7%, while Borosil surged 20% on the back of its Q2 earnings.
3. IndiGo Rallies, Suzlon Slumps
IndiGo gained over 4% to lead the Nifty gainers after a positive brokerage note. On the other hand, Suzlon Energy declined nearly 8% following a guidance cut. Ather Energy extended its rally, gaining over 27% this week.
ALSO READ | This data analytics and solutions provider stock is set for its worst week in six years
Equitas Small Finance Bank recovered from its intraday lows but ended the session down over 6% following the resignation of its managing director and chief executive officer (MD & CEO). Jio Platforms recovered during the session and ended with a gain of nearly 1%.
From the Sensex basket, Trent Ltd, InterGlobe Aviation Ltd, Infosys Ltd, NTPC Ltd, Max Healthcare Institute Ltd and HCL Technologies Ltd were the major gainers.
Shriram Finance Ltd, Mahindra & Mahindra Ltd, Nestle India Ltd, Hindustan Aeronautics Ltd, UltraTech Cement Ltd and Jio Financial Services Ltd were the biggest laggards.
ALSO READ | Varun Beverages Q3 Results: Stock falls on margin pressure; Consolidated volume growth of 28%
Market This Week (October 26 to 30)
The equity benchmark indices reversed the previous week's losses, with the Nifty rising nearly 2% during the week. The broader market outperformed the benchmark indices following the sharp decline last week, with the Nifty Smallcap index gaining over 4%.
Sectorally, pharma and realty stocks led the gains. The Nifty Pharma index surged over 7%, making it the best-performing sector during the week.
Among midcap stocks, Laurus Labs, Mankind Pharma, JSW Energy, Nykaa and Apar Industries were the top gainers. On the other hand, Suzlon Energy, Supreme Industries, AU Small Finance Bank, Mahindra & Mahindra Financial Services and Bharat Dynamics were among the biggest midcap losers.
ALSO READ | Oswal Pumps shares fall despite ₹236 crore MSEDCL order win; stock hits fresh 52-week low
Among Nifty constituents, Trent, Dr Reddy's Laboratories, BSE Ltd, Adani Ports and Eternal were the top gainers for the week. Shriram Finance, Coal India, Tata Consultancy Services (TCS) and HDFC Life Insurance were among the major laggards.
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