Stock Market Close Report, July 10, 2026: Markets Rebound for Second Day as Investors Look Past Iran and Oil Amid Broad-based Buying

Mumbai, July 10: Indian benchmark indices extended gains for a second straight session on Friday after experiencing a crash, with the Nifty closing above the 24,200 mark as broad-based buying in realty, IT and banking stocks offset lingering concerns over geopolitical tensions and elevated crude oil prices. 

The BSE Sensex climbed 827.57 points, or 1.08 per cent, to close at 77,569.39, while the NSE Nifty50 rose 244.10 points, or 1.02 per cent, to settle at 24,206.90. Market breadth remained firmly positive, with 2,756 stocks advancing against 1,316 declines, while 171 shares ended unchanged. 

The rally was underpinned by optimism around the start of the June-quarter earnings season, with Tata Consultancy Services‘ results boosting sentiment across the IT pack. Continued buying by foreign institutional investors and positive global cues also supported the market. 

Realty, PSU banks outperform 

Sectoral performance was overwhelmingly positive, with all major indices ending in the green.

Nifty 50 seemed happy again as earnings season kicked off in all earnest. Source: NSE  

Realty stocks emerged as the biggest gainers, with the Nifty Realty index soaring 3.5 per cent. The Nifty PSU Bank index followed with a 3 per cent gain, while the Nifty IT index advanced 2 per cent after investors welcomed TCS’ quarterly earnings and management commentary. 

The Nifty Metal index climbed 1.5 per cent, while the Nifty Bank index gained 1.4 per cent. Oil & Gas, Private Bank, Energy, Infrastructure and Consumer Durables indices rose between 1 per cent and 1.3 per cent. The Nifty Auto index added 0.72 per cent.

Broader markets also participated in the rally, with the Nifty Midcap 100 and Nifty Smallcap 100 indices gaining 1.5 per cent and 1.4 per cent, respectively, signalling improved risk appetite beyond frontline stocks. 

Jio Financial, Reliance among top gainers 

Jio Financial Services led the gains on the Nifty50, followed by HDFC Life Insurance, Adani Enterprises, Reliance Industries and SBI Life Insurance.

On the other hand, Dr Reddy’s Laboratories, Eternal, Bharti Airtel, Nestle India and Sun Pharma ended as the top laggards. 

Technology stocks remained in focus throughout the session, with TCS leading gains in the sector following its June-quarter earnings. The positive read-through lifted peers such as Infosys, HCLTech, Tech Mahindra, Wipro and LTIM, making IT one of the day’s strongest-performing sectors. 

Earnings season takes centre stage 

Friday’s gains marked a continuation of Thursday’s recovery, helping benchmark indices recoup part of the sharp losses seen earlier this week. 

Investor attention has now shifted firmly to the June-quarter earnings season, with commentary from large-cap IT companies, banks and consumer-facing businesses expected to determine the market’s near-term direction. 

Analysts said sustained buying in rate-sensitive sectors such as realty and financials, coupled with healthy participation from mid- and small-cap stocks, indicates improving sentiment. However, they cautioned that geopolitical developments and movements in crude oil prices remain key risks that investors will continue to monitor. 

Source:

• NSE
• BSE