15.10.202604:43:33UTC+00Sensex Hits 2-Week High on IT Rally

India’s BSE Sensex climbed 1.1% to 73,552 on Thursday, its highest level since late September, rebounding from the previous session’s losses as strong HCLTech results boosted information technology stocks and overall sentiment. IT shares outperformed the broader market, extending their recent rally on earnings-driven optimism.

Still, hotter-than-expected US inflation data and the likelihood of higher-for-longer interest rates continued to curb risk appetite, while elevated crude prices and persistent foreign investor outflows remained significant headwinds.

On the corporate front, IDBI Bank fell around 5% after Fairfax Financial Holdings secured approval for its $5.56 billion acquisition of a controlling stake in the lender. Meanwhile, Jio Platforms set an IPO price band of 1,065–1,119 rupees per share, marking a key milestone for India’s equity capital markets.

Among notable gainers were TCS (up 2.2%), Infosys (1.9%), HDFC Bank (0.8%), and Bharti Airtel (2.0%).