Sensex Gains Over 600 Points After Market Opening, Nifty 50 Above 23,000: Here’s Why The Stock Market Is Up Today

The Indian stock market indices traded sharply higher as the markets reopened on Wednesday, 21 October 2026, after the Dussehra break. A rise in IT stocks, strong Q2 earnings, and other factors boosted investor sentiment.

The broader market was also upbeat. A total of 1,240 shares advanced, compared with 1,180 that declined. Another 212 shares were unchanged.

At 9:29 AM, the Sensex stood at 74,549.32, up 696.42 points (0.94%). At the same time, the Nifty 50 stood at 23,088, up 199.90 points (0.87%).

However, markets lost some steam as the day progressed. At 11:22 am, the BSE Sensex was up 164 points (0.22%). At the same time, the Nifty 50 was almost flat, up by only 6.90 points (0.030%).

Why Is The Stock Market Up Today?

Here are a few reasons that explain why stock market is up today:

Information Technology (IT) Stocks Keep Rising

IT shares continued to lead the recovery. The Nifty IT index gained over 2% during early trade on Wednesday. At 9:39 AM, the index stood at 32,260.00, up 2.36%.

Stocks like Wipro, Infosys and TCS were among the biggest gainers on Nifty after gaining about 3% each. At 9:39 AM, the Wipro share price stood at ₹189.00, up 3.90%. At the same time, the Infosys share price stood at ₹1,168.95, up 3.42%, whereas the TCS share price stood at ₹2,526.90, up 2.66%.

This is the single most prominent reason why Indian stock market is up today.

Strong Q2 Earnings

Apart from the IT sector, banking and metals stocks also performed well in the second quarter of FY27. Their valuations remain relatively reasonable, drawing the attention of domestic institutional investors (DIIs).

Improved liquidity in domestic markets, attractive valuations of large-cap stocks after recent slumps and strong Q2 earnings are providing support to the market at the current levels.

Value Buying Emerges After Recent Fall

Some investors have started buying shares after the recent sell-off. With the market trading near six-month lows, lower prices have drawn interest in select stocks.

The buying was evident in the broader market trends as well. More shares were trading in the green than in the red in early trading.

Rupee Extends Its Rally

The Indian National Rupee (INR) extends its current rally, which augurs well for the market. On Wednesday, the currency jumped 14 paise to open at 94.79 against the US dollar. The previous closing was at 94.93.

The gains have been supported by the Reserve Bank of India’s measures to curb dollar demand and its intervention in the Forex market.

Market Outlook

The direction of the market in the remaining session will depend on whether buying interest returns after the morning rally lost steam. The Sensex and Nifty 50 have pared much of their early gains, indicating possible profit booking at higher levels.

IT stocks and strong quarterly earnings may provide support. That said, continued selling in other sectors could limit the recovery.

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