Market wrap: Nifty IT surges 11.5% for biggest weekly gain in nearly 18 years

Indian equity markets extended their winning streak for a 2nd successive week, with the Sensex and Nifty taping their most significant weekly gains because the very first week of April 2026, as infotech (IT) stocks led the rally.

The Nifty IT rose 11.5% throughout the weekmarking its greatest weekly gain in almost 18 years. Almost 40 Nifty constituents provided favorable returns, with gains of approximately 18%.Tech Mahindra, Tata Consultancy Services (TCS), Infosys, HCL Technologies and Bajaj Auto were amongst the leading Nifty gainers for the weekOn the other hand, FMCG and pharmaceutical stocks stayed under pressure, with the Nifty FMCG index falling almost 1%. Nestle India, Max Healthcare, IndiGo, Apollo Hospitals and Larsen & & Toubro were amongst the leading Nifty losers.In the midcap area, KPIT Technologies, Bandhan Bank, Mphasis and Prestige Estates were amongst the leading gainers. One MobiKwik Systems, Exide Industries, LIC Housing Finance, Multi Commodity Exchange of India and Bank of Maharashtra included amongst the leading losers.IT stocks lead Friday’s gainsThe criteria closed greater on Friday too, extending their gains in a range-bound session. The Sensex increased 413 indicate 74,729, while the Nifty acquired 149 indicate settle at 23,146, holding above the 23,100 mark.The Nifty IT advanced almost 4%increasing for a 4th successive session. Tech Mahindra taped its most significant single-day gain because March 2020 following its second-quarter outcomes and reward concern statement. TCS extended its rally, increasing almost 19% considering that revealing its Q2 results on October 8.Wipro got almost 6% after the business stated offers delayed from the 2nd quarter would move into the 3rd quarter. Federal Bank ended with modest gains following better-than-expected Q2 outcomes, while Onward Technologies leapt 20% after reporting strong quarterly outcomes.More comprehensive markets lag, stock-specific relocations continueWider markets underperformed for a 2nd straight session. The midcap index fell 67 indicate 59,130, while the Nifty Bank ended almost flat, acquiring 33 indicate 55,844, ahead of crucial banking outcomes.IndiGo was the leading Nifty loser after the federal government informed the Supreme Court that air travel air fare guidelines had actually been settled. Capital market stocks ended lower, with BSE falling more than 2% following the modified Common Account Statement (CAS) structure.Jewellery stocks drew in purchasing interestwith Senco Gold and Sky Gold increasing more than 5% each. Angel One, nevertheless, ended over 4% lower after operationally weak Q2 outcomes.In spite of the weak point in some pockets, market breadth favoured advances, with the advance-decline ratio at 3:2.