Evening Market Wrap: Friday, 30 Oct 2026

A recap of the day for catching up. Index and stock numbers are NSE closing figures from the sources listed. Lines marked "my read" are my interpretation.

The day in one line

Nifty and Sensex rose for a second straight session, led by IT and pharma, but the broader market fell sharply: smallcaps were down ~1.9% and about two stocks declined for every one that rose.

Index scoreboard

• Breadth: 1,311 advances vs 2,862 declines
• Week: Nifty up ~2%, which reverses the previous week's fall. Smallcaps were still up ~4% for the week despite today's drop. Pharma was up 7%+ for the week.
• Nifty closed back above 23,000, near the day's high.

Sectors

• Up: IT +2.3%; Pharma +1.6–1.8% (sources differ)
• Down: Consumer Durables −1.8%, Media −1.5%. PSU Bank and Energy each fell more than 1%. Auto, FMCG, Metal and Realty were each down ~0.5%.

Big movers

Nifty 50: top gainers

• Trent +5.44% (₹3,017): Q2 results
• IndiGo +4.33% (₹4,878): smaller Q2 loss, positive broker notes
• Infosys +3.36% (₹1,185): IT buying
• Apollo Hospitals +3.02%
• Power Grid +1.92%

Nifty 50: top losers

• Shriram Finance −2.13% (₹823)
• Nestle India −1.82% (₹1,167)
• M&M −1.72% (₹2,840)
• Jio Financial −1.21%
• Adani Ports −1.18%; Adani Enterprises −1.09%; Coal India −1.04%

Midcaps

• Up: Laurus Labs +7.2% (Q2 results [4]); Coforge +4.2%; United Spirits +3.4%; Aditya Birla Capital +3.1%; Persistent +2.9%
• Down: Suzlon −7.9%; UPL −5.3%; Swiggy −4.7%; Motilal Oswal −4.5%; Dixon −4.3%

Smallcaps and others

• Up: Vedanta Power +14.5% (Q2 turnaround); Borosil ~+20% (Q2); Ather +5.6%; Poonawalla Fincorp +5.3%; Navin Fluorine +5.1% (Q2)
• Down: Redington −8.4%; Cohance −7.7%; Pine Labs −7.6%; Aegis Logistics −7.5%; Welspun Corp −7.2%
• Equitas SFB −6%+ after its MD & CEO resigned
• Sagility ~−5% on reports of a promoter block deal
• eMudhra fell after appointing KPMG to review a cybersecurity incident
• Sun Pharma rose on a new US approval for ILUMYA
• Jio Platforms closed +0.68% at ₹1,437.5 before its Q2 results

What drove the day

1. Indian IT rose while global tech fell

• Cognizant reported Q3 revenue of $5.66 bn on 29 Oct, up 4.6% YoY (4.8% in constant currency). It guided FY26 constant-currency growth at 4.0–4.4%. Q3 bookings fell 7% YoY, while trailing-12-month bookings were up 4%.
• Indian IT names rallied on the read-through.
• Overnight in the US, Alphabet fell ~12% after missing estimates and reporting negative free cash flow. That revived worries about AI capex, and the S&P 500 closed −0.3%.
• My read: the IT rally ran against the global tech mood. That makes tonight's US session worth watching (see below).

2. Q2 results moved individual stocks

• Trent: Consolidated PAT +25% YoY to ₹468 cr; revenue +22% to ₹5,873 cr.
• IndiGo: Net loss narrowed to ₹1,879 cr from ₹2,582 cr a year ago. EBITDA beat estimates, and management guided >25% PRASK growth for Q3.
• Suzlon: Revenue +26% to ₹4,869 cr, but PAT fell 69% YoY to ₹394 cr [11]. EBITDA margin fell to 14.8% from 18.6%, and FY27 margin guidance was cut to ~15–16% from ~17% [12]. Deliveries rose to 710 MW, and the order book is above 6 GW [12]. The stock hit a 52-week low of ₹33.21, and several brokerages cut targets [11].
• Coal India: PAT +53% YoY to ₹6,516 cr, but −26% QoQ. It was reported as below estimates [13]. The company declared a ₹10.25 second interim dividend with a 4 Nov record date [13].
• Vedanta Power: Swung to a Q2 profit from a loss a year ago, on higher electricity sales and realisations [6].

3. Crude, rupee and geopolitics

• Brent stayed high in the $113–116/bbl range through the day; sources differ on its direction. Houthi attacks on Saudi energy sites and US–Iran tensions remain the main drivers [1][5].
• The rupee gained 33 paise to 94.93/$ (provisional), helped by a softer dollar and reported RBI intervention [14].
• On MCX, gold fell 0.7% and silver fell 2.6% (Dec futures) [5].

4. Policy backdrop

• The finance ministry's consultation on LTCG and STT is still in the background as a sentiment factor [1][16].

Looking ahead

• Tonight: Jio Platforms' Q2 results, its first as a listed company.
• US markets tonight: At India's close, Nasdaq-100 futures were −2.4% and S&P 500 futures −1.1%. Weak US tech could set the tone for Monday's open.
• Mon 2 Nov: India Manufacturing PMI (final, October). October auto sales numbers usually come out around the 1st of the month.
• Tue 3 Nov: US midterm elections. Reports say President Trump has threatened renewed strikes on Iran after the midterms [10].
• Wed 4 Nov: India Services PMI; Coal India dividend record date [13].
• Ongoing: Brent above $110, the rupee near 95/$, and the direction of FII flows.

Not a buy/sell recommendation. This is a factual recap from public sources; opinions are labelled.

Sources [1] HDFC Sky – Market close, 30 Oct · [2] 5paisa – Post-market update, 30 Oct · [3] Bombay Samachar – Closing report · [4] CNBC-TV18 via TradingView, 30 Oct · [5] Kotak Neo – Market wrap, 30 Oct · [6] Upstox – Top gainers & losers, 30 Oct · [7] Angel One – Gainers & losers, 30 Oct · [8] Upstox – Jio Platforms Q2 live blog · [9] Cognizant Q3 2026 release (SEC 8-K) · [10] TheStreet – US markets, 29 Oct · [11] Business Today – Suzlon, 30 Oct · [12] Equentis – Suzlon Q2 · [13] Indian Masterminds – Coal India Q2 · [14] HDFC Sky – Rupee close, 30 Oct · [15] Tapetide – FII/DII flows, Oct 2026 · [16] LegalSuvidha – LTCG/STT consultation, 27 Oct · [17] Moneycontrol via TradingView – Week ahead, 2–6 Nov