Adani stocks surge up to 3%; Sensex, Nifty close 1% higher on Friday
Synopsis
Adani Group stocks surged up to 3% on Friday as Sensex and Nifty clawed back over 1% each — but the session's most surprising twist was IT stocks leading sectoral gains after the US Department of Labor suspended Infosys, Wipro, Tata, and HCL Tech from the PERM green card programme, a move markets appeared to read as a near-term cost tailwind rather than a headwind.
Key Takeaways
Adani Ports surged 3.10 per cent to ₹1,761 , touching an intraday high of ₹1,770 on 9 October .
Ambuja Cements gained 3.08 per cent ; Adani Green Energy rose 1.63 per cent ; Adani Enterprises closed up 1.48 per cent at ₹2,634.40 .
Sensex ended at 72,472.33 (up over 1%); Nifty 50 closed at 22,520.45 (up 1.3 per cent ).
Reliance Industries fell 0.65 per cent to ₹1,170.30 ; BSE Ltd declined 1.43 per cent to ₹3,287.20 .
Nifty IT led sectoral gains at ~ 3 per cent after the US Department of Labor suspended Infosys , Wipro , Tata , and HCL Tech from the PERM green card programme.
Adani Group stocks surged up to 3 per cent on Friday, 9 October, as domestic equity benchmarks staged a strong recovery to close over 1 per cent higher each, even as Reliance Industries and BSE Ltd shares weighed on sentiment.
Adani Group Stocks Lead the Gains
Adani Ports and Special Economic Zone emerged as a standout gainer on the Nifty 50 index, closing 3.10 per cent higher at ₹1,761. The stock touched an intraday high of ₹1,770, marking a rise of as much as 3.62 per cent from its previous close.
Ambuja Cements, an Adani Group company, settled 3.08 per cent higher at ₹351.50. Adani Green Energy gained 1.63 per cent to close at ₹1,255.80, while Adani Enterprises rose 1.48 per cent to ₹2,634.40 on the National Stock Exchange (NSE), after touching an intraday peak of ₹2,653.
Reliance Industries, BSE Ltd Among Top Losers
Not all heavyweights participated in the rally. Reliance Industries fell 0.65 per cent to ₹1,170.30, while BSE Ltd declined 1.43 per cent to ₹3,287.20, both featuring among the session's top laggards.
Notably, Nifty Oil & Gas was the sole sectoral loser, slipping 0.09 per cent, even as the broader market closed firmly in the green.
Broader Market and Sectoral Trends
The Sensex ended the session more than 1 per cent higher at 72,472.33, while the Nifty 50 gained 1.3 per cent to settle at 22,520.45. Among the top Nifty gainers were Apollo Hospitals, ITC, Eicher Motors, Tata Consultancy Services (TCS), and HCL Tech, which surged up to 4.72 per cent on closing.
Sector-wise, the Nifty IT index led all sectoral gains, rising approximately 3 per cent, followed by MidSmall IT & Telecom at 2.56 per cent and FMCG at 2.20 per cent.
US Labour Move Sparks Unusual IT Rally
The surge in technology stocks came on the back of a counterintuitive development: the US Department of Labor reportedly suspended eight major technology and outsourcing companies — including Infosys, Tata, Wipro, and HCL Tech — from the Permanent Labour Certification Programme (PERM), halting all new and pending green card sponsorship applications for them.
This is the kind of development that typically weighs on Indian IT sentiment, yet markets appeared to interpret it as reducing near-term cost pressures or as a signal of regulatory normalisation. This comes amid a broader recalibration of how investors view US immigration policy's impact on Indian technology companies' cost structures.
How the PERM suspension plays out in subsequent quarters — particularly on talent hiring and delivery timelines — will be closely watched by analysts tracking India's IT sector.
Point of View
Restrictions on green card sponsorship have been seen as a hiring and talent-pipeline constraint for Indian IT majors — yet Friday's session flipped that narrative, at least intraday. It is possible that investors are pricing in short-term cost savings from reduced visa and immigration overheads, but the structural risk to delivery capacity and US client relationships remains unresolved. Meanwhile, the Adani Group's broad-based gains — spanning ports, cement, energy, and enterprises — suggest renewed institutional appetite, but the divergence with Reliance Industries underlines that not all conglomerate plays are reading from the same script right now.
NationPress
9 Oct 2026
Frequently Asked Questions
Why did Adani Group stocks surge on 9 October?
Adani Group stocks rallied up to 3 per cent on 9 October as broader domestic equity benchmarks recovered losses to close over 1 per cent higher. Adani Ports was the top Nifty gainer, rising 3.10 per cent to ₹1,761, while Ambuja Cements and Adani Green Energy also posted solid gains.
Why did Nifty IT stocks rise despite a US green card suspension?
The Nifty IT index gained approximately 3 per cent after the US Department of Labor suspended eight technology and outsourcing companies — including Infosys, Wipro, Tata, and HCL Tech — from the PERM green card programme. Markets appeared to interpret the move as potentially reducing near-term visa and immigration-related costs, though the longer-term implications for hiring remain uncertain.
How did Sensex and Nifty perform on 9 October?
The Sensex closed more than 1 per cent higher at 72,472.33, while the Nifty 50 gained 1.3 per cent to settle at 22,520.45, recovering earlier losses to end the Friday session firmly in positive territory.
Which stocks were the biggest losers on 9 October?
Reliance Industries fell 0.65 per cent to ₹1,170.30 and BSE Ltd declined 1.43 per cent to ₹3,287.20, making them among the top losers of the session. The Nifty Oil & Gas index was the sole sectoral loser, down 0.09 per cent.
What is the US PERM programme and why does it matter for Indian IT companies?
The Permanent Labour Certification Programme (PERM) is a US Department of Labor process through which employers sponsor foreign workers for permanent residency (green cards). For Indian IT companies with large US workforces, a suspension from PERM halts all new and pending green card applications, affecting long-term workforce planning and talent retention in the United States.
