Indian equity benchmarks ended higher on Friday, 9 October, breaking an eight-week losing streak, although the recovery remained modest amid concerns over elevated crude oil prices and tighter monetary conditions.
The Nifty 50 rose 1.3% to close at 22,520.45, while the BSE Sensex advanced 1.23% to 72,472.33. IT stocks led gains after Tata Consultancy Services' quarterly earnings highlighted growing contributions from artificial intelligence and robust international business growth.
For the week, the Nifty 50 gained 0.44%, while the Sensex rose 0.78%. However, the rebound came after a prolonged correction, with the two indices losing 8.7% and 8.4%, respectively, over the preceding eight weeks.
The key question for investors is whether the latest gains can develop into a meaningful recovery. Technical indicators are showing early signs of stabilisation, but the indices continue to face resistance from key moving averages. The coming sessions will be important in determining whether buying momentum can strengthen or selling pressure will return.
The Nifty 50 has snapped its eight-week losing streak, but technical analysts remain divided on whether the rebound signals a sustained trend reversal or a temporary pullback. While early signs of stabilisation have emerged, the index needs to overcome key resistance levels to strengthen the recovery outlook.