Indian equities ended the week on a strong note, with benchmark indices rising more than one percent on Friday as easing geopolitical tensions, firm global markets, encouraging early corporate earnings and lower crude oil prices lifted investor sentiment. The rally added nearly ₹6 lakh crore to investors' wealth in a single trading session, while broader markets outperformed the frontline indices.
Sensex surged 828.31 points (1.08 percent) to close at 77,569.39
Nifty 50 gained 244.20 points (1.02 percent) to settle at 24,206.90
Nifty Midcap 100 advanced 1.40 percent
Nifty Smallcap 100 climbed 1.55 percent
BSE-listed companies' total market capitalisation increased from about ₹476 lakh crore to nearly ₹482 lakh crore, adding around ₹6 lakh crore in investor wealth
The rally marked the second straight day of gains. Over the last two sessions, the Sensex has risen 1,066 points while the Nifty has added 325 points.
Despite Friday's sharp rebound, both benchmark indices ended the week about 0.25 percent lower, snapping a four-week winning streak.
Several positive triggers came together to drive buying across sectors.
Improved global sentiment after reports that the US and Iran would continue technical talks despite recent military tensions
Stable first-quarter earnings from Tata Consultancy Services, boosting confidence in the IT sector
Encouraging first-quarter business updates from major banks
Brent crude oil falling below $76 a barrel, easing inflation concerns
Strengthening rupee, which appreciated 16 paise to close at 95.31 against the US dollar
Market experts said positive business updates from banks and an improving outlook for the IT sector, supported by AI-related opportunities and expectations of stronger global spending, have set a positive tone for the first-quarter earnings season.
He added that if corporate earnings continue to exceed expectations, the current market uptrend could gather further momentum.
Buying was widespread, with rate-sensitive and cyclical sectors witnessing strong demand.
Top-performing sectoral indices:
Nifty Realty: +3.49 percent
Nifty PSU Bank: +3.03 percent
Nifty IT: +1.96 percent
Nifty Metal: +1.48 percent
Nifty Oil & Gas: +1.31 percent
Nifty Private Bank: +1.16 percent
Nifty Bank: +1.39 percent
Nifty Financial Services: +1.32 percent
India VIX declined nearly 8 percent to 12.25, indicating easing market volatility and improving investor confidence.
Among the Nifty 50 stocks:
Top gainers
Jio Financial Services
HDFC Life Insurance
Adani Enterprises
Top losers
Dr Reddy's Laboratories
Eternal
Bharti Airtel
Forty-two of the 50 Nifty stocks ended higher, while seven declined. Bajaj Auto closed unchanged.
Fresh 52-week highs
Investor optimism was reflected in the broader market, with 141 stocks touching fresh 52-week highs on the BSE.
Among them were:
Sun Pharma
Grasim Industries
Nykaa (FSN E-Commerce Ventures)
Oracle Financial Services Software (OFSS)
Phoenix Mills
Meanwhile, 73 stocks slipped to their 52-week lows, including JSW Holdings, National Standard (India) and CMR Green Technologies.
(July 10, Friday)
Sensex: 77,569.39 (+1.08%)
Nifty 50: 24,206.90 (+1.02%)
Bank Nifty: +1.39%
Nifty Mid Cap 100: +1.40%
Nifty Small Cap 100: +1.55%
India VIX: 12.25 (-8.00%)
US dollar: Rs 95.31 (-Rs 0.16)
Brent crude: Below $76.00/barrel