S&P 500 Notched Its Longest Winning Streak Since October
By Prime Research | Published at: Apr 10, 2026 09:07 AM IST
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Major U.S. stock indexes rose as investors reacted positively to a fragile two-week ceasefire and reports of direct negotiations between Israel and Lebanon. The S&P 500 closed above the key 6,800 psychological level, while the Dow Jones turned positive for the 2026 calendar year.
The Nasdaq outperformed other major benchmarks, driven by significant gains in mega-cap technology firms. Amazon shares climbed over 5% following internal AI chip developments, while Intel and Alphabet rallied on news of an expanded semiconductor partnership for Google Cloud infrastructure.
Futures edged slightly lower overnight as the Strait of Hormuz remained closed, and diplomatic talks remained fragile heading into Friday.
Asian equity indices opened higher and are expected to consolidate at higher levels ahead of important talks between the U.S. and Iran regarding the recent geopolitical situation.
TCS reported USD revenue growth of 1.2% QoQ CC, which was in line with estimates, and the margins expanded by 10bps QoQ to reach 25.3% (best in the last eight quarters). TCS indicated better growth visibility for FY27E, bolstered by healthy deal wins, improving outlook, and strategic investments made over the last two quarters.
The growth confidence is led by an improved vertical outlook where BFSI is prioritising data transformation and scaled GenAI, Consumer Business is gaining market share through large-scale renewals, Manufacturing is focusing on supply chain modernisation, and CMI is showing signs of a rebound in IT spending.
The rupee’s five-session rally stalled yesterday, shedding 8 paise to end at 92.66, alongside weakening Asian peers, pressured by higher crude prices and relentless FII outflows.
Nifty surrendered some gains yesterday amid dented hopes for a ceasefire in the US-Iran conflict and fresh inflationary worries. Nifty ended the day with a loss of 222 points, closing at 23,775.
Immediate support is seen around 23,500, while immediate resistance is placed at 24,000 and 24,200 on any rebound attempt.
Indian markets are poised to open marginally higher on positive global cues.
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