Last Updated on April 10, 2026 9:30 pm by BIZNAMA NEWS
By our Business Correspondent
Indian equity benchmarks concluded the week on a high note this Friday, as a significant improvement in global risk appetite triggered a broad-based buying spree. Easing geopolitical tensions in West Asia, coupled with a cooling of crude oil prices and a resilient domestic currency, acted as primary catalysts for the market’s robust performance.
The S&P BSE Sensex surged by 918.60 points, or 1.20%, to settle at 77,550.25. Similarly, the Nifty 50 index reclaimed the 24,000 level, jumping 275.50 points or 1.16% to end at 24,050.60. While the indices posted strong gains led by heavyweights in the banking and auto sectors, the upside was somewhat constrained by lingering weakness in the IT pack.
Macro Tailwinds: Ceasefire Hopes and Softening Oil
The rally was largely underpinned by a shift in global sentiment. Markets across Asia and Europe traded higher following a seven-day winning streak on Wall Street, fueled by signals that Israel might pursue a ceasefire with Lebanon. This optimism helped offset concerns regarding the Strait of Hormuz, where shipping traffic remains severely disrupted, operating at less than 10% of its normal capacity.
Domestic investors also took cues from the commodities market, where Brent crude hovered around the $96.50 per barrel mark—comfortably below the psychological $100 threshold—providing much-needed relief to India’s inflation outlook.
Market Dynamics: Financials Lead, VIX Tanks
Blue-chip lenders were the primary drivers of Friday’s gains:
- ICICI Bank surged 3.22%.
- HDFC Bank added 1.65%.
- Reliance Industries supported the momentum with a 1.56% climb.
The broader market exhibited even greater strength, with the BSE MidCap index rising 1.71% and the BSE SmallCap index gaining 1.60%. Market breadth remained overwhelmingly positive, with 3,360 advancing stocks against 945 decliners on the BSE.
Reflecting the surge in investor confidence, the India VIX—the market’s “fear gauge”—plummeted 7.72% to 18.85, indicating a sharp drop in expected near-term volatility.
Corporate Spotlight: Deals and Diversification
Several stocks moved on the back of significant corporate developments:
- Power Mech Projects (+8.49%): Secured a Rs 296 crore O&M contract for the Mumbai Monorail.
- Eicher Motors (+3.87%): Launched its debut electric motorcycle, the Flying Flea C6, priced at Rs 2.79 lakh.
- IRB Infrastructure (+3.69%): Reported a robust 20.74% year-on-year jump in March toll revenues to Rs 783 crore.
- Wipro (+0.96%): Announced that its board will consider a share buyback alongside Q4 results on April 16.
- Groww (Billionbrains Garage Ventures): Hit a record high of Rs 198.50, ending 3.72% higher as it continues its three-month rally of over 21%.
Economic Indicators at a Glance
| Indicator | Current Level | Change |
| USD/INR | 92.6950 | -0.20% (Rupee Depreciation) |
| 10-Year G-Sec Yield | 6.929% | -4 bps |
| Gold (MCX June) | Rs 152,420 | -0.66% |
| DXY (Dollar Index) | 98.78 | -0.03% |
Despite the Friday exuberance, analysts suggest a “wait-and-watch” approach as the Q4 FY26 earnings season kicks off next week. While the cooling of global tensions is a welcome relief, the structural impact of energy supply disruptions and US inflation data (Core PCE at 3%) will continue to dictate the trajectory of the rupee and domestic interest rates.