Stock Market Outlook, Oct. 17 -- Indian equities staged a strong comeback this week, with the Nifty 50 rising 2.77% and the Sensex surging 3.11%, as renewed buying in information technology (IT) stocks, easing global bond-yield pressures and resilient domestic institutional inflows lifted investor sentiment.

Both benchmarks also extended their gains for a second consecutive session on Friday, strengthening hopes of a recovery after the recent market correction.

On Friday, the Sensex climbed 413.66 points, or 0.56%, to close at 74,729.27 on Friday, while the Nifty advanced 148.80 points, or 0.65%, to settle at 23,146.15. For the week, the Sensex gained 2,256.94 points, while the Nifty added 625.7 points.

However, the rally faces several...