Nifty Tops 23,100 as IT Shares Lead Mid-Session Recovery; Trent Gains 6.30%

IT shares helped lift Indian benchmarks above a closely watched round-number level on Friday, October 30, 2026. By 12.46 pm, the Nifty 50 had gained 164.60 points, or 0.72 per cent, to 23,101.35, while the Sensex was up 544.50 points, or 0.73 per cent, at 74,695.54. The advance came despite a weak global backdrop and rising crude prices, leaving the session’s durability dependent in part on whether buyers could keep the Nifty above 23,000.

The recovery had breadth, though it wasn’t uniform. The Nifty’s advance-decline ratio was 31:19. On BSE, 2,654 of the 4,588 traded stocks rose, 1,716 fell and 218 were unchanged. That tilt toward advancing shares supports the picture of a broad rebound, while the number of stocks setting new lows shows that pressure remained in parts of the market: 161 reached 52-week lows, compared with 93 at 52-week highs. Seventeen stocks were in the upper circuit and 41 in the lower circuit.

IT and consumer shares set the pace

The technology sector was the strongest sectoral index, rising more than 1.5 per cent in early trade and holding its gains through the session. HCL Technologies added 2.88 per cent to ₹1,444.30 after reaching ₹1,452. Infosys rose 2.40 per cent to ₹1,174; more than 63 lakh shares changed hands, worth ₹73,715.21 lakh. Their advance put large technology names among the main contributors to the benchmark’s rise.

Trent led Nifty 50 gainers, climbing 6.30 per cent to ₹3,041.90. Trading exceeded 32.16 lakh shares, with turnover of ₹97,503.53 lakh. IndiGo gained 3.42 per cent to ₹4,835 and touched ₹4,869 during the session. Sun Pharmaceutical Industries rose 2.67 per cent to ₹1,808.10, after reaching ₹1,813.50. The gains in Sun Pharma added to buying interest in pharmaceuticals, another area of relative strength.

The gap between these leaders and the weaker shares matters: a strong index reading can mask divergent performance underneath. Trent’s sharp rise and sustained strength in IT helped the headline benchmarks, while other prominent stocks remained under pressure. The Nifty India Defence index was the weakest sectoral index, underscoring that the rebound didn’t reach every part of the market.

Heavy trading in decliners

Coal India fell 1.32 per cent to ₹387.90, with 1.54 crore shares traded worth ₹59,595.88 lakh. Its high volume alongside a falling share price makes it one of the session’s notable pockets of selling. Nestlé India slipped 1.11 per cent to ₹1,175.40, while Shriram Finance lost 0.97 per cent to ₹832.95.

Adani Enterprises declined 0.93 per cent to ₹2,583.70 after touching a session low of ₹2,557. Tata Steel fell 0.90 per cent to ₹167.93, with 70.75 lakh shares changing hands. These losses show why the advance-decline figures are useful alongside the index move: the benchmarks were higher, but sizeable stocks were still moving lower.

Crude prices weigh on sentiment

Energy costs remained a significant headwind. WTI crude traded near $103.31, up 0.45 per cent, after briefly reaching $104.99 and meeting selling resistance above $104. MCX Crude Oil was around ₹9,832, up 1.27 per cent. Dr. V K Vijayakumar of Geojit Investments had said at the open that “The crude oil headwind is getting stronger with Brent rising above $117.” That concern continued to frame the session as oil prices stayed elevated.

For companies and markets exposed to fuel costs, expensive crude can complicate the outlook even when share prices are rising. The source attributed the move in energy prices partly to renewed geopolitical concerns, but the market figures themselves leave the immediate issue clear: crude was higher, and that pressure persisted alongside the benchmark rally.

Precious metals moved lower. COMEX Gold fell 0.65 per cent to near $4,005, putting the $4,000 level in focus. COMEX Silver dropped 1.85 per cent to around $51.40; its relative strength index was near 25, a reading associated with deeply oversold conditions. In domestic trading, MCX Gold was around ₹141,840, down 0.53 per cent, while MCX Silver fell 1.33 per cent to ₹186,930. The rupee was little changed at 95.20 against the dollar, with USD/INR trading in a narrow 95.10–95.30 band.

Levels traders were watching

SBI Securities identified 22,900–22,920 as a support zone for the Nifty and 23,210–23,230 as resistance. A move above 23,230 could extend the advance toward 23,380, according to the firm’s technical view. In the options market, notable call writing appeared at the 23,100 and 23,200 strikes. The 23,000 put had substantial open interest, followed by the 22,900 put. For the Sensex, the levels cited were 74,100 for support and 75,000 for resistance.

Those markers describe the levels participants were monitoring; they don’t settle whether the recovery will hold. With roughly three hours of trading left, the Nifty’s ability to stay around the 23,000–23,100 zone was the immediate test for Friday’s advance. The index had crossed 23,100, but higher crude, uneven stock performance and nearby resistance left room for the tone to change before the close.