Stock Market Mid-Day Report, July 9, 2026: Sensex, Nifty Extend Gains; IT Drags Even as Broader Markets Rally on Q1 Earnings Hopes

Mumbai, July 9: Continuing their recovery ride, Indian equity benchmarks rose past the noon session on Thursday tracking positive Asian cues even as investors sentiment remained cautious amid escalating war between U.S. and Iran as Washington on Wednesday launched fresh airstrikes against Tehran while Iran fired at Bahrain, Kuwait and Qatar after U.S. President Donald Trump said their temporary ceasefire in tensions between the two countries “over.”

At noon trade, the BSE Sensex climbed 572.07 points or 0.75% to 77,075.67 and Nifty 50 added 184.40 points or 0.77% to 24,066.45.

Indian markets traded firm as investors shrugged off global geopolitical concerns and remained focused on expectations of strong Q1 earnings season for FY27 that has already commenced over the past few days and provided some fresh cues to markets for continuing uptrend.

Top Gainers and Losers

Among the Nifty component stocks, Bharti Airtel rose the most by 3.44% at Rs 1,953 against the previous closing price of Rs 1,888.10. It was followed by Sun Pharmaceutical Industries that gained 2.53% at Rs 1,935.90 against Rs 1,888.20. Eternal surged 2.44% to Rs 293.70 from Rs 286.70. Similarly, Max Healthcare Institute advanced 2.23% to Rs 1,109 from Rs 1,084.80 and Bajaj Finserv jumped 2.16% to Rs 1,895 against Rs 1,854.90.

On the other hand, Dr Reddy’s Laboratories dropped the most by 4.89% at Rs 1,283 against Rs 1,349. Infosys slipped 2.04% to Rs 1,047.50 from Rs 1,069.30. Hindalco Industries declined 1.19% to Rs 960.10 from Rs 971.65. Tata Consultancy Services declined 1.10% to Rs 2,034.80 from Rs 2,057.50 and Oil and Natural Gas Corporation fell 0.70% to Rs 245.27 against Rs 247.

Broader Markets

In broader markets, Nifty Microcap 250 was the top gainer among BSE indices, surging 1.79% to 25,123.45. Similarly, Nifty Smallcap 100 jumped 1.64% to 19,090.75 and Nifty Midcap Select rose 1.56% to 14,644.35.

Broad market sentiment remained firmly positive with only two BSE indices Nifty50 Shariah (down 0.09% to 4,170.90) and Nifty200 Quality 30 (down 0.03% to 19,818.10) slipping into the red.

Sectorally, Realty index was the top performer, climbing 2.52% to 898.05, followed by Capital Markets index which rose 2.24% to 5,468.15 and Consumer Durables index that gained 2.03% to 37,963.70. Healthcare index fell 0.41% to 14,387.70 while IT index declined 0.79% to 27,336.90. All other sectoral indices traded higher.

Iran Conflict Update

The U.S. military launched new air strikes on Iran on Wednesday and Iran retaliated by firing weapons at Bahrain, Kuwait and Qatar, after U.S. President Donald Trump announced the temporary pause in tensions between the two countries on Monday had now ended. Trump said late Monday that Iran “officially sent letters stating they will not be meeting” with U.S. representatives at a Swiss embassy to discuss matters between the two countries. Earlier in the day, he had announced the cessation of hostilities against Tehran. The early morning air strikes target militants and “will not lead to escalation or conflict,” Pentagon spokesperson Commander Steven Curry told reporters, adding the operation was aimed at deterring Iran’s ability to conduct “future attacks.”

Asian Shares

Japan’s benchmark Nikkei 225 erased some of its losses from earlier in the week to rise 1.6% to 67,849.98 on the back of technology-related shares. South Korea’s Kospi wavered before ending 0.1% higher after tumbling sharply the previous day. China’s Shanghai Composite declined 0.5% as data showed producer prices accelerated in June. Hong Kong’s Hang Seng lost 0.8% and Australia’s S&P/ASX 200 dropped 0.5%. Taiwan’s Taiex was little changed for the day while India’s Sensex and Nifty traded higher bucking the broadly soft regional trend.

Oil Prices

Oil prices were trading higher early Thursday as Brent crude was up 1.1% to $78.88 a barrel after briefly topping $80 a barrel on Wednesday. Benchmark U.S. crude also gained 1.1% to $74.32 a barrel. Brent traded as high as $80.93 on Wednesday. Before the U.S. escalated its tensions with Iran again, Brent had eased back toward $72 a barrel on Monday after rising as high as $77.42 on hopes of an interim peace deal between the U.S. and Iran. Traders are now bracing for more volatility if the tanker crossings through the Strait of Hormuz ease further.

Markets on Thursday Morning

Indian equity benchmarks opened higher on Thursday tracking positive Asian cues. The BSE Sensex jumped 464.69 points or 0.61% to 76,968.29 and Nifty 50 advanced 131.20 points or 0.55% to 24,013.25 in opening deals. Shares rose tracking strong Asian moves led by Japan’s Nikkei 225 even as most of the Wall Street finished with losses on Wednesday. Investors now turn their focus to Q1 earnings season ahead for sustaining momentum in equities market.

Sources:

• nseindia.com, bseindia.com