Stock News Highlights
KEC International (+5.79%): Stock rose after securing new orders worth ₹1,030 crore across its transmission and distribution, renewables, and cables and conductors businesses, taking its year-to-date order intake beyond ₹8,600 crore.
NCC (+4.28%): Stock advanced after receiving a Letter of Acceptance worth ₹1,286.03 crore from Hyderabad Growth Corridor for constructing Radial Road-2 in Telangana, covering the Budwel-to-Shabad stretch.
Waaree Renewable Technologies (+0.82%): Stock rose marginally after receiving a Letter of Acceptance from a PSU for a 5 MWp grid-connected solar project, including turnkey EPC work and 10 years of operation and maintenance services.
Hexaware Technologies (+5.30%): Stock rose after announcing a multi-year partnership with Anthropic, becoming a preferred partner in its Claude Partner Network. The collaboration will integrate Claude into its Zerovity and AgentVerse platforms, strengthening its AI capabilities.
Sectoral Performance
Nifty Metal (+3.02%): Sector declined the most today, with all 14 constituents closing in the red, reflecting broad-based selling pressure amid domestic regulatory changes and global macroeconomic concerns.
Nifty FMCG (+2.20%): Sector advanced, led by ITC, United Spirits and Varun Beverages, after the GST Council recommended expanding input tax credit (ITC) eligibility for certain business expenses, raising hopes of lower tax costs and improved operational efficiency.
Nifty PSU Bank (+1.63%): Sector rose, with all constituents trading in the green, supported by improved economic growth expectations after the RBI raised its FY27 GDP growth forecast to 7.1%, boosting sentiment across public sector banks.
Nifty Oil & Gas (-0.09%): Sector declined the most, hitting a one-year low amid elevated crude oil prices, supply concerns and pressure on oil marketing companies’ margins.
Market Insights
Technical Level: Nifty opened with a gap-up opening, found support near 22,300 at the start of the session, and moved upward, making higher highs throughout the day. The index faced resistance near 22,580 and closed slightly below this level, ending the session positive overall.
Advance-Decline Ratio: Market breadth remained positive, with 2,182 stocks advancing against 1,391 declining, resulting in an A/D ratio of 1.57, indicating broader buying interest across the market.
The Big Picture: Infosys, TCS, Wipro, HCLTech and Cognizant face US labour certification suspensions as the Trump administration tightens immigration rules, raising fresh questions over overseas hiring and the sector’s growth outlook. Yet IT stocks were among the day’s biggest gainers, the market choosing to look past the headline and buy the dip in a beaten-down sector.
FII/DII Activity (October 08, 2026): DIIs were net buyers at ₹4,743 crore, while FIIs were net sellers at ₹3,569 crore, reflecting strong domestic institutional support despite continued foreign outflows.
Watch Out For Tomorrow
Market Watch: For investors, a bounce after a sharp fall is normal and doesn’t change the bigger picture. IT’s rally looks more like relief than conviction while visa risks remain unresolved. Stay selective, avoid chasing the rebound, and wait for crude and global cues to settle before adding fresh money.
Word of the day
Gap-Up Opening
A gap-up opening occurs when a stock or index opens at a price significantly higher than its previous day’s closing level, often due to positive news, strong buying interest, or favourable global cues.
Example: Nifty opened with a gap-up and moved higher throughout the session, reflecting positive market sentiment.