Last Updated on July 10, 2026 11:08 pm by BIZNAMA NEWS
By Our Business Correspondent
Benchmark equity indices concluded a robust trading week with a sharp rally on Friday, as investor confidence strengthened on the back of positive quarterly earnings and a cooling of geopolitical tensions in the Middle East.
The Nifty 50 surged 244.10 points (1.02%) to close at 24,206.90, while the S&P BSE Sensex climbed 827.57 points (1.08%) to finish at 77,569.39. This marks a strong finish to the week, with both indices recording a cumulative gain of over 1.3% across the last two sessions.
Market breadth remained firmly positive, with 2,339 shares advancing against 973 declines on the NSE. A significant drop in the India VIX—which tanked 8.30% to 12.25—signaled a considerable easing of volatility and heightened risk appetite among market participants.
Market Movers: Top Gainers and Losers
The session was defined by strong performance in the banking and IT sectors, fueled by healthy financial disclosures.
| Top Gainers | Change (%) | Top Losers | Change (%) |
| Ion Exchange India | +17.38% | Premier Explosives | -3.92% |
| Muthoot Microfin | +13.19% | Eimco Elecon (India) | -1.72% |
| Indian Bank | +10.11% | ||
| Ceinsys Tech | +3.66% | ||
| Bank of Maharashtra | +2.43% |
Note: Data represents top active movers mentioned in session reports.
Sectoral Highlights & Global Cues
The rally was broad-based, with all NSE sectoral indices ending in the green, with the notable exception of the Nifty FMCG index. IT stocks found support following TCS’s Q1 FY27 results, which signaled improving demand, while state-run lenders were propelled by strong earnings beats.
Global sentiment provided a tailwind for domestic markets. Easing concerns over Middle East tensions, combined with lower crude oil prices and a strengthening rupee (hovering at 95.32 against the dollar), bolstered investor optimism. Overseas, U.S. markets maintained a positive trajectory, while anticipation mounted for the high-profile U.S. market debut of SK Hynix.
Corporate Developments
- TCS: Reported a Q1 FY27 consolidated net profit of Rs 13,349 crore; revenue rose 2.2% sequentially to Rs 72,275 crore.
- Indian Bank: Shares surged over 10% after reporting a 10.10% YoY growth in standalone net profit to Rs 3,273.09 crore.
- Strategic Moves: Apollo Micro Systems announced the acquisition of a 41.33% promoter stake in Premier Explosives for Rs 1,550 crore.
Primary Market Update
The IPO segment saw high activity on the final day of bidding for the Kusumgar issue, which closed with a robust subscription of 128.67 times. Meanwhile, the Laser Power & Infra IPO remains open for bidding until July 13, currently standing at a subscription level of 0.98 times.