Morning Brief: Nifty Rises 1.66% to 22,997; FIIs Net Sell ₹5,285 Cr Amid Tech Rally | 16 Oct 2026, 08:15 AM IST
Key Highlights
Nifty 50 gains 1.66% to 22,997.35 as IT stocks rally. FIIs remain net sellers of ₹5,285 crore while DIIs provide support. Markets watch US inflation.
Indian equity markets witnessed a strong recovery on Thursday, with the closing higher by 1.66% to settle at 22,997.35. The rally was primarily driven by a resurgence in information technology stocks and positive momentum in banking heavyweights, even as global markets grappled with concerns over US inflation data and potential interest rate hikes.
Market Snapshot
| Index | Last |
|---|---|
| Nifty 50 | 22,997.35 (+1.66%) |
| Nifty Bank | 55,810.50 (+0.89%) |
| Nifty Midcap 100 | 59,197.25 (-0.36%) |
Institutional Flows
(FIIs) continued their selling streak in the cash segment, offloading a net of ₹5,285.37 crore on October 15. Conversely, (DIIs) provided support to the market, recording a net purchase of ₹3,319.39 crore.
| Date | FII Net | DII Net |
|---|---|---|
| 15-Oct-2026 | -5,285.37 | +3,319.39 |
| 14-Oct-2026 | -1,857.44 | +2,670.44 |
| 13-Oct-2026 | -1,305.13 | +2,439.24 |
Sector Performance
| Sector | Last |
|---|---|
| Nifty IT | 30,719.80 (+1.82%) |
| Nifty Auto | 25,576.40 (+1.67%) |
| Nifty Financial Services | 25,364.20 (+1.67%) |
| Nifty Realty | 828.70 (+0.72%) |
| Nifty Pharma | 25,817.80 (+0.31%) |
| Nifty FMCG | 44,791.65 (-1.06%) |
| Nifty PSU Bank | 8,041.20 (-1.55%) |
Top Movers
| Symbol | Company | Last |
|---|---|---|
| TECHM | Tech Mahindra Ltd. | 1,650.00 (+4.75%) |
| HEROMOTOCO | Hero MotoCorp Ltd. | 5,210.00 (+3.80%) |
| ICICIBANK | ICICI Bank Ltd. | 1,389.40 (+3.80%) |
| NESTLEIND | Nestle India Ltd. | 1,275.80 (-7.76%) |
Global Cues
Global sentiment remains cautious as US inflation data for September came in higher than expected, stoking fears of further rate hikes by the Federal Reserve. Asian markets mirrored this weakness, with significant declines in technology and semiconductor stocks. Investors are now closely monitoring upcoming US producer price data and commentary from Federal Reserve officials.
Corporate Updates
- Tech Mahindra reported a 33% growth in consolidated net profit for Q2, with total income rising 15.23% to ₹16,172.80 crore.
- Indian Railway Finance Corporation posted a 10% increase in Q2 net profit, with total income climbing 24.37% to ₹7,924.46 crore.
Watch
- Zetwerk Manufacturing Businesses and Shellz India opened for subscription on October 15.
- Jio Platforms and Paras Healthcare have announced their IPOs, scheduled to open on October 21.
Despite the sharp index gains, the persistent selling by FIIs underscores a cautious stance among foreign investors amid global macroeconomic uncertainty.
The divergence between strong domestic buying and sustained FII outflows remains the key narrative to watch for the remainder of the week.