Although the benchmark indices opened higher, they traded on a positive note throughout the session and ultimately closed green.
Indian equity benchmarks indices, Sensex and Nifty50 rebounded from the previous day's losses, tracking sharp gains in IT shares.
At the closing bell, the BSE Sensex closed 1,109 points higher (up 1.5%)
Meanwhile, the NSE Nifty closed 358 points higher (up 1.6%)
HCL Tech, TCS, Tech Mahindra are the top gainers today.
Kotak Mahindra, Eternal, Maruti Suzuki on the other hand, were among the top losers today.
The GIFT Nifty was trading at 22,847 with 477 points higher at the time of writing.
The BSE 150 Midcap index is trading 0.9% higher and the BSE 250 SmallCap index is trading 0.4% higher.
Baring healthcare sector all other sectoral indices traded positive today, with buying interest witnessed in the stocks of IT sector and realty sector.
3 Reasons why Indian share markets are rising:
#1 Value Buying
Investors bought shares at lower prices on October 13, leading to gains in several sectors. Nifty Realty rose by over 1%, while Nifty FMCG gained nearly 1%, supported by a recovery in Hindustan Unilever and ITC.
#2 India VIX Eases
India VIX, which measures market volatility, fell 7.5% to 14.12. This suggests that investors expect relatively lower market volatility and do not anticipate strong selling pressure in the short term.
#3 Buying in IT Shares
IT stocks led the market rally on October 13, with the Nifty IT index rising nearly 4%. TCS, HCL Tech, and Tech Mahindra gained between 2% and 5%, contributing to the market's overall rise.
The rupee is trading at Rs 95.6 against the US$.
Gold prices for the latest contract on MCX are trading lower at Rs 1,49,517 per 10 grams.
Meanwhile, silver prices were trading higher at 2,22,947 per 1 kg.
Speaking of stock markets, Tanushree Banerjee, Research Analyst at Equitymaster, highlights that Indian IT companies are moving from debt-free balance sheets toward moderate leverage to fund AI-led growth and acquisitions.
Companies are deploying cash and debt for AI infrastructure, cybersecurity and strategic acquisitions. This shift could impact future dividends and buybacks, making debt levels and cash-flow strength key factors for investors.
ICICI Life Insurance Q2 FY27 Results
Shares of ICICI Insurance came into focus after the company reported its Q2 FY27 results.
ICICI Prudential Life Insurance reported a 25% year-on-year (YoY) increase in net profit to Rs 3.74 billion in Q2FY27, compared with Rs 2.99 billion in Q2FY26.
Net premium income grew 16.6% YoY to Rs 138.04 billion from Rs 118.43 billion.
However, net profit declined 3.1% quarter-on-quarter (QoQ) from Rs 3.86 billion in Q1FY27. For H1FY27, net profit rose 26.5% YoY to Rs 7.60 billion, while the value of new business (VNB) increased 22.3% to Rs 12.83 billion, with a VNB margin of 26%.
Retail new business sum assured grew 34.9% YoY to Rs 2.32 trillion in H1FY27. Retail protection annual premium equivalent (APE) rose 47.2%, while annuity APE increased 50% YoY during the first half of FY27.
Aequs Signs Long-Term Supply Deals with Safran
Aequs, an India-based precision manufacturing company, has signed long-term supply agreements with Safran, a global aerospace company, to manufacture critical aircraft components. These agreements will strengthen their partnership and support Safran's ongoing production programmes.
The new contracts expand Aequs' existing relationship with Safran Landing Systems and extend it to Safran Aerosystems and Safran Electronics & Defense. With this, Aequs now works with six Safran entities.
Under the agreements, Aequs will manufacture superalloy parts and handle machining, coating and assembly of landing gear components for Airbus A320, A330, A350 and Boeing 787 aircraft programmes. A major part of the work will be carried out at Aequs' upcoming Engine Components Ecosystem (AECE) facility in Hosur, Tamil Nadu.
The agreements will also strengthen Aequs' Belagavi Aerospace Cluster, which serves global aerospace supply chains. The new Hosur facility will further expand the company's manufacturing capabilities and support its growth in the global aerospace industry.
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