The Indian equity markets staged a healthy recovery on Friday, October 9, with both NIFTY50 gaining 0.62% to 22,370 points and BSE SENSEX trading higher as of 9:29 AM. According to market data, the recovery was driven by a potential technical rebound from the 52-week low of 22,179 level after recent declines. The NIFTY IT index rebounded strongly, gaining around 2.9% in early trade, led by TCS after its quarterly results showed improvement in AI-related revenue and international business. The gains came despite concerns over the US suspension of selected IT companies from the PERM Green Card programme. Foreign investors continued to pull money out of Indian equities, selling shares worth ₹12,943 crore on October 8, while domestic investors provided relief by buying ₹10,703 crore worth of shares.
Hexaware Technologies emerged as the standout performer with shares rallying 9.78% to ₹561.40 at 9:29 AM on Friday, October 9, significantly higher than the previous close. The stock's market capitalization reached ₹32,842.11 crore as of October 9, 2026. Trading volumes surged dramatically by 152.71 times to 86.6 lakh equity shares on the National Stock Exchange, compared with the 30-day average volume of 5.57 lakh shares. The high-volume gains were triggered by the company's announcement of a multi-year partnership with Anthropic, becoming a preferred partner in its Claude Partner Network. The collaboration will bring Claude's AI capabilities into Hexaware's Zerovity and AgentVerse platforms, strengthening its push towards AI-led software development and automation.
Studds Accessories shares surged more than 12% to hit an intraday high of ₹466.55 compared to the previous close of ₹416, with trading volumes jumping to 32,55,988 equity shares. This represented a 56 times increase in volume over the one-week average of 58,105 shares. R Systems International delivered exceptional performance with shares rallying 17% to hit an intraday high of ₹435.90 compared to the previous close of ₹242.85, driven by 12.02 times surge in trading volumes to more than 2.52 crore shares. The company received positive news as ratings agency ICRA reaffirmed its credit ratings at the AA- category.
Colgate Palmolive shares surged 5.45% to ₹1,830 at 9:29 AM on Friday, October 9, recovering from recent pressure near 52-week lows with trading volumes at 10 lakh shares compared to the 30-day average of 4.4 lakh shares. The rally was supported by the 57th GST Council's recommendation to change input tax credit rules. Cyient Ltd delivered strong performance with shares rallying 5.42% to ₹1,143 at 9:30 AM, supported by a broader recovery in IT stocks and the company's recent launch of a new Intelligent Engineering Solutions business unit and CYiNGINE platform to expand AI-led engineering capabilities. Trading volumes stood at 12.9 lakh shares compared with the 30-day average of 7.8 lakh shares.
