India Stocks: Indian shares open flat as IT rally, earnings-led rebound counter higher oil prices

Interglobe Aviation

30/10/2026 04:02

Updates for markets open
Oct 30 (Reuters) - Indian shares opened flat on Friday, as a jump in IT stocks and a post-results rally in key constituents countered pressure from higher crude oil prices, ahead of the quarterly earnings of heavyweights Reliance Industries RELI.NS and Sun Pharma SUN.NS .
The benchmark Nifty 50 .NSEI added 0.12% to 22,965.95, while the Sensex .BSESN rose 0.15% to 74,267.05, as of 9:30 a.m.IST (0400 GMT).    
Both benchmarks gained over 1% each in the previous session, after strong quarterly results from key constituents and as the US Federal Reserve held interest rates steady as expected.
Eleven of the 16 major sectors logged losses. The broader small-caps .NIFSMCP100 and mid-caps .NIFMDCP100 dropped 1%and 0.5%, respectively.
The IT index .NIFTYIT gained 1.8%, amid a drop in global artificial intelligence-linked stocks in Asia on worries that huge and rising AI spending may not deliver sufficient returns.
Analysts view Indian IT companies as relatively defensive beneficiaries when AI-linked stocks sell off, as enterprises may favor cost-cutting, automation and outsourcing over expensive in-house AI investments.
A post-results rally in Trent and InterGlobe Aviation INGL.NS kept the benchmarks from sliding, countering the pressure from Brent crude LCOc1 rising to $116.3 on supply concerns due to worsening Middle East tensions after Yemen's Houthis attacked Saudi Arabia. O/R

 (Reporting by Bharath Rajeswaran in Bengaluru; Editing by Ronojoy Mazumdar and Jochelle Mendonca)
 ((bharath.rajeswaran@thomsonreuters.com; +91 9769003463;))