Market Commentary Mid Session News Details

Indices trade higher; European mrkt advance

(10-Jul-26   13:43)

The domestic benchmark indices continued to trade with strong gains in afternoon trade, supported by sustained foreign fund inflows and buying in blue-chip stocks. Investor sentiment remained upbeat as market participants looked ahead to the Q1 FY27 earnings season for cues on corporate performance and the FY27 business outlook. The Nifty hovered above the 24,150 mark.

PSU Bank, Realty and IT shares advanced while pharma and FMCG shares declined.

At 13:25 IST, the barometer index, the S&P BSE Sensex surged 686.23 points o 0.89% to 77,428.56. The Nifty 50 index jumped 206.55 points or 0.85% to 24,169.

The broader market outperformed the frontline indices. The BSE 150 MidCap Index rose 1.14% and the BSE 250 SmallCap Index jumped 1%.

The market breadth was strong. On the BSE, 2,747 shares rose and 1,334 shares fell. A total of 214 shares were unchanged.

In the commodities market, Brent crude for September 2026 settlement fell 69 cents or 0.90% to $75.61 a barrel.

The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, declined 7.61% to 12.35.

Gainers & Losers:

Jio Financial Services (up 4.01%), HDFC Life Insurance (up 2.58%), Adani Enterprises (up 2.28%), Infosys (up 2.16%) and JSW Steel (up 1.96%) were the major Nifty50 gainers.

Dr Reddys Laboratories (down 1.36%), Eternal (down 1.30%), Bharti Airtel (down 0.91%), Apollo Hospital (down 0.67%) and Coal India (down 0.33%) were the major Nifty50 losers.

Stocks in Spotlight:

Tata Consultancy Services (TCS) gained 1.45%. The company reported a consolidated net profit of Rs 13,349 crore for the quarter ended 30 June 2026 (Q1 FY27), down 2.7% from Rs 13,718 crore in Q4 FY26. Revenue from operations rose 2.2% sequentially to Rs 72,275 crore in Q1 FY27 from Rs 70,698 crore in the preceding quarter. In constant currency terms, revenue grew 0.4% quarter-on-quarter.

Anand Rathi Wealth added 1.02% after the company reported 23.5% rise in consolidated net profit to Rs 115.9 crore on a 17.5% increase in revenue to Rs 322 crore in Q1 FY27 as compared with Q1 FY26. Assets Under Management (AUM) as on 30 June 2026 was Rs 1,06,300 crore, up 21% YoY.

Muthoot Microfin surged 13.27% after the company reported an 18% year-on-year (YoY) increase in assets under management (AUM) and strong disbursement growth in its business update for the quarter ended 30 June 2026 (Q1 FY27).

RailTel Corporation of India rose 2.13% after the company announced that it has secured a work order worth Rs 18.54 crore from the Information Technology and Electronics Department, Government of Uttar Pradesh.

HFCL rose 1.28% after it has secured an international order worth approximately $51.98 million (around Rs 495.8 crore) for the supply of optical fiber cable-based data centre connectivity solutions.

Apollo Micro Systems added 2.61% after the company signed a definitive share purchase agreement (SPA) to acquire a 41.33% promoters' stake in Premier Explosives for Rs 1,550 crore in an all-cash transaction.

Ceinsys Tech rallied 3.99% after the company has has secured a Rs 67.04 crore contract from the Directorate of Urban Administration & Development, Government of Madhya Pradesh. The contract, awarded by a domestic government entity, is for a period of three years and is valued at Rs 67.04 crore.

Global Markets:

European market advanced as indications of continued diplomatic engagement between Washington and Tehran alleviated investor concerns about the Middle East conflict.

Asian stocks advanced on Friday, tracking overnight gains on Wall Street, where a rally in semiconductor stocks lifted U.S. equities. Investor sentiment remained supported by optimism that strong corporate earnings would broaden the market rally beyond the technology sector.

Attention will be on SK Hynix's U.S. market debut later on Friday after the firm priced its American Depositary Receipts at $149 on Thursday, ⁠raising about $26.5 billion, indicating strong investor appetite to gain exposure in the AI supply chain.

The blockbuster offering, which will finance new factories and equipment to meet surging AI chip demand, is set to be the world's second-biggest share sale after SpaceX's record-breaking IPO last month.

Overnight on Wall Street, stocks rose on Thursday, bolstered by a jump in semiconductors and a fall in oil prices, as equity markets tried to recover in spite of renewed U.S.-Iran tensions.

The Nasdaq Composite gained 1.30% to 26,206.89, while the S&P 500 rose 0.81% to 7,543.64. The Dow Jones Industrial Average added 139.02 points, or 0.27%, to 52,487.41.

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