Market Updates Today, July 10: The Indian stock markets extended their gains in morning trade on Friday, supported by strong buying in metal, IT, banking and financial stocks amid positive global cues
and optimism around the June-quarter earnings season.
At 10:07 am, the BSE Sensex was trading 817.67 points or 1.07% higher at 77,559.49, while the NSE Nifty advanced 247 points or 1.03% to 24,209.80.
Rally broadens across sectors
Buying interest strengthened across the broader market, with almost all major sectoral indices trading in the green. The Nifty Metal index emerged as the top sectoral performer, rising 2.41%, followed by Nifty IT (+2.01%), Nifty Cement (+1.73%), Nifty MidSmall IT & Telecom (+1.73%), Nifty Chemicals (+1.41%), Nifty Oil & Gas (+1.38%), Nifty Realty (+1.31%) and Nifty Media (+1.29%).
Financial stocks also remained firm, with Nifty Private Bank (+1.19%), Nifty PSU Bank (+1.01%) and Nifty Financial Services (+0.97%) supporting the benchmark indices.
Healthcare remained subdued, with the Nifty Healthcare Index marginally lower by 0.03%, while Nifty Pharma traded largely flat.
Broader markets outperform; volatility eases
The rally extended to the broader markets, reflecting improving market breadth. The Nifty Smallcap 100 climbed 1.34%, Nifty Midcap 100 gained 1.11%, while the Nifty 500 advanced 1.08%.
India VIX Eases Nearly 7%
Meanwhile, the India VIX declined 6.58% to 12.48, indicating easing volatility and improving investor confidence.
Top gainers and losers on Sensex
Top gainers were Tata Steel (+2.77%), Adani Ports (+2.43%), Tech Mahindra (+2.18%), HCL Technologies (+2.17%), and TCS (+1.98%).
Losers were Bharti Airtel (-0.68%) and Eternal (-0.26%).
IT, metals and banks lead the rally
IT stocks continued to attract buying after TCS’ better-than-expected June quarter earnings, while metal shares rallied on improved global risk appetite. India’s largest IT services company reported a 4.61% year-on-year increase in consolidated net profit to Rs 13,349 crore for the quarter ended June 2026. Revenue from operations rose nearly 14% to Rs 72,275 crore, supported by healthy demand from banking, financial services and insurance (BFSI) clients, favourable currency movements and strong deal execution.
Banking and financial stocks also remained in demand as investors positioned for a healthy start to the Q1FY27 earnings season, with expectations of resilient loan growth and stable asset quality.
Global cues remain supportive
Asian markets traded sharply higher after Wall Street’s technology-led rally overnight, with investors continuing to focus on the artificial intelligence theme despite renewed geopolitical tensions in West Asia.
Japan’s Nikkei rose 1.8% while South Korea’s KOSPI, the epicentre of the AI rally, gained 4%. Chip bellwethers SK Hynix and Samsung Electronics were up 1% and 3%, respectively, while Taiwan markets were closed due to a typhoon.
Overnight, the tech-heavy Nasdaq ended sharply higher after Micron Technology’s plans to invest more than $250 billion in the U.S. through 2035 buoyed chip stocks, with the Philadelphia SE Semiconductor Index rising 3%.
Brent crude traded around $76 per barrel, well below the recent conflict-driven highs, easing concerns over inflation and supporting risk sentiment across global equities.
