Nifty 50: Nifty 50 continued to surge for the second consecutive session on Friday, with IT, pharma and financial services stock taking the lead. The benchmark index was up nearly 112 points during Friday’s intraday trading session, with Trent, IndiGo, HCL Tech, Infosys, Sun Pharma, Tech Mahindra, TCS emerging as top gainers.
While the 50-share benchmark has surged nearly 2.60% over the past five trading sessions and continued to hold on to its gains on Friday, the rally may not be translating into gains across investors’ portfolios.
This is because the broader market remained under pressure, with declining stocks outnumbering advancing ones, indicating weak overall market breadth.
Why does the stock market’s headline rally not reflect on your portfolio?
Nifty 50 was up 77.5 points at 23,014.50, whereas BSE Sensex was up 250 points at 74,399.08 at 2 pm on Friday, October 30. While Nifty 50 remains in green, the overall market breadth remains negative. On BSE, 1,351 stocks were advancing against 2,828 declining, indicating a negative breadth of the overall market.
Rally in IT stocks supported Nifty 50. As per NSE Indexogram report for September 2026, Financial Services stocks have a weightage of 37.45% on Nifty 50 and IT stocks have weightage of 7.52%.
Broadmarket indices remain weak
Broadmarket indices remained under pressure during Friday’s trading session. Nifty Midcap 50 was down 0.83%, Nifty Smallcap 100 was down 1.74%. Nifty 100 emerged as the only exception with 0.17% gain at 2:14 pm on Friday.
Among sectoral indices, Nifty Auto, Nifty FMCG, Nifty Media, Nifty Consumer Durables and Nifty Midsmall Financial Services were all trading in negative territory.
Nifty Pharma, Nifty IT, Nifty Healthcare were up nearly 1%, whereas Nifty Financial Services sectoral index remained marginally higher.
Earnings action
Despite weak overall market breadth, the ongoing earnings season continued to fuel stock-specific rallies. The much awaited Reliance Industries Limited (RIL) is set to announce its second quarter results for the financial year 2026-27 on Friday. RIL-backed Jio Platforms will also report its Q2FY27 results for the first time after Dalal-street debut.
