Nifty Is Up. But Who Is Driving the Rally?

[Gagan_suryaputra]

Nifty gained 0.51% today, while the broader indices moved in the opposite direction.

• Nifty Midcap: down 0.8%

• Nifty Smallcap: down 1.8%

• Nifty IT: up 17.7% in October

IT stocks are doing most of the heavy lifting, keeping the headline index positive.

Source - https://www.reuters.com/world/india/indian-shares-seen-opening-higher-after-earnings-led-rebound-higher-oil-cap-2026-10-30/

Is this a broad-based recovery, or are a few heavyweight IT stocks making the Nifty look stronger than it really is?

[VenturingSage]

As of today, IT has given close to 18% return in one month - so yes, IT is in good trend. The rule I follow is, whenever bad news in IT - I buy it.