Sensex rose 212 points in early trade on October 13 as HCL Tech’s strong quarterly results lifted IT stocks. Hours earlier, the IMF raised India’s growth forecast to 7% for 2026-27 in its October World Economic Outlook.
Updated: October 13, 2026, 11:00 IST
Quick Read
- The Sensex gained 211.97 points, or 0.29%, to 72,136.65 by 9:21 AM, while the Nifty rose 63 points to 22,426.35, according to DSIJ’s Opening Bell report.
- HCL Tech jumped nearly 5% after its September-quarter profit rose 21.2% to ₹5,132 crore. TCS, Infosys and Tech Mahindra gained too.
- The IMF raised India’s growth forecast to 7.0% for 2026 and 7.0% for 2027, up from 6.4% projected in July, calling India one of the world’s fastest-growing major economies.
IT stocks led the morning bounce
Tuesday started on a flat note. The Sensex inched up just 27 points at the opening bell, and Gift Nifty had pointed to a muted start. Then the IT stocks woke up.
HCL Technologies was the star. Its shares jumped 4.9% to ₹1,282.70 on the NSE, after the company reported a 21.2% rise in September-quarter profit to ₹5,132 crore, up from ₹4,235 crore a year ago, as reported by Business Standard. Revenue rose 2% to $3,724 million, and the company booked new deals worth $3,258 million — its highest deal tally since the September 2023 quarter, according to the Economic Times live blog. TCS, Infosys, Tech Mahindra and HDFC Bank also traded higher.
Not everything was green. Power Grid, NTPC, Titan, Kotak Bank and Axis Bank sat among the early losers. The broader market split too — the Nifty Midcap 100 held nearly flat while the Nifty Smallcap 100 slipped about 1%, Business Standard reported at 9:38 AM.
By 9:23 AM the Sensex had climbed 229 points to 72,153.87 and the Nifty was up 74 points at 22,437, per the Times of India’s live blog. It was a sharp turn from Monday, when the Sensex had crashed 548 points to close at 71,924.68 and the Nifty fell 157 points to 22,363.35.
IMF raises India’s forecast to 7%
The bigger story came from Washington. The International Monetary Fund released its October World Economic Outlook on Tuesday and raised India’s growth forecast to 7.0% for 2026 and 7.0% for 2027, on a fiscal-year basis.
That is a solid upgrade. The 2026 number is 0.6 percentage points higher than the July update, when the IMF had projected 6.4%, and 0.5 points higher than April. The 2027 forecast got a lift of 0.3 points from July. On a calendar-year basis, the Fund put India at 7.4% for 2026 and 7.0% for 2027, IANS reported on October 13.
Why the upgrade? The IMF said India’s growth showed “stronger-than-expected momentum, supported by resilient domestic demand and robust services activity.” In plain words: people in India kept spending, and the services sector kept humming, even as oil prices climbed. The report added that “India stands out with upward revisions,” pointing to its young population, large domestic market and ongoing reforms. India’s economy had grown 7.8% in 2025, according to the same report.
The Fund also warned that prices are rising. It expects Indian inflation at 5.0% in 2026, up from 2.0% in 2025, before easing to 4.4% in 2027.
The risks have not gone away
Investors still have plenty to worry about. Brent crude hovered above $105 a barrel on Tuesday as the Iran war dragged on and traders watched shipping risks in the Strait of Hormuz. Also read: Houthi Attacks Hit Riyadh Airport and Hormuz Shipping, Indians Affected
September inflation came in at 5.54%, higher than expected and close to the RBI’s 6% upper limit, which has pushed some analysts to talk about rate hikes again. Foreign investors kept selling — FIIs offloaded shares worth ₹1,708.48 crore on Monday. But domestic institutions bought ₹3,045.02 crore the same day, as India TV News reported, and that buying cushioned the fall.
One bright spot: the rupee appreciated 60 paise to 95.17 against the US dollar in early trade, helped by RBI’s currency measures. Also read: Rupee Hits All-Time Low in October 2026: Why It Is Falling and What RBI Is Doing
What investors will watch today
More quarterly results land today: Anand Rathi Share and Stock Brokers, GTPL Hathway, Hero Motors, ICICI Prudential Life Insurance and Transformers and Rectifiers (India) all report their September-quarter numbers, per DSIJ. Two IPOs also opened for subscription — HD Fire Protect (₹712.31 crore) and Vaibhav Vyapaar (₹42.10 crore).
Analysts say the Nifty’s immediate support sits at 22,300, with resistance at 22,800 and 22,900. Whether the morning bounce holds depends on crude, foreign flows and how the day’s earnings land.
FAQs
Why did the Sensex jump 200 points today?
IT stocks rallied after HCL Tech’s strong September-quarter results — profit up 21.2% to ₹5,132 crore. TCS, Infosys and Tech Mahindra also gained, pulling the Sensex up 212 points in early trade, according to DSIJ’s Opening Bell report.
What is IMF’s new GDP forecast for India?
The IMF’s October 2026 World Economic Outlook projects India’s growth at 7.0% for 2026 and 7.0% for 2027 on a fiscal-year basis, raised from 6.4% in July. On a calendar-year basis it expects 7.4% in 2026 and 7.0% in 2027.
What could pull the market back down?
Crude above $105, September inflation at 5.54%, continued foreign investor selling and weak global cues all remain risks. Analysts say the Nifty’s outlook stays weak below 22,580, as Hemang Gor of Axis Direct noted on October 13.
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