Top Gainers & Losers: Tech Mahindra Surges Over 8%, Friday, October 16, 2026

Top Nifty 50 Gainers Today

• Tech Mahindra Ltd: Up 8.48%
• Tata Consultancy Services Ltd (TCS): Up 4.89%
• Infosys Ltd: Up 4.61%
• Bharti Airtel Ltd: Up 2.43%

Top Nifty 50 Losers Today

• InterGlobe Aviation Ltd (IndiGo): Down 1.91%
• BSE Ltd: Down 1.90%
• Nestlé India Ltd: Down 1.78%
• Jio Financial Services Ltd: Down 1.45%

Analysis: Reasons Behind the Moves

• Tech Mahindra & IT Majors: Tech Mahindra led the market rally after reporting strong Q2 financial earnings, highlighted by an 8.3% quarter-on-quarter and 33.95% year-on-year surge in consolidated net profit, as well as an operating margin improvement to 14.75%. The robust performance sparked heavy buying across the IT sector, lifting peers Tata Consultancy Services and Infosys as investors positioned for earnings-driven recovery.
• Bharti Airtel: The telecom major advanced amid solid sector-wide momentum and steady institutional accumulation as large-cap indices recovered from early-session lows.
• IndiGo (InterGlobe Aviation): Aviation shares faced downward pressure after the Central Government informed the Supreme Court that it had finalised regulations to oversee and regulate airfares, which clouded revenue visibility, while elevated crude oil benchmarks added pressure to operational costs.
• BSE Ltd & Jio Financial Services: Financial counters and exchange platforms witnessed sustained profit-taking following a sharp rally in earlier sessions, accompanied by persistent foreign institutional outflows.
• Nestlé India: The stock traded lower as defensive FMCG names lagged broader market sentiment, weighed down by localized volume concerns and portfolio rotations into outperforming IT equities.

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