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EQUITY
Key gauges extend gains for 2nd straight day amid positive global cues
Jul-10-2026

Rising for second consecutive session, Indian equity benchmarks ended over a percent higher on Friday, tracking firm cues from global markets and falling oil prices on speculation the escalation of hostilities between the U.S. and Iran will be limited. Strong earnings from heavyweight companies also helped underpin investor sentiment. 

Some of the important factors in trade: 

Revenues of India Inc likely to grow at two-year high in Q1: Domestic rating agency Crisil’s arm -- Crisil Intelligence has projected that revenues of India Inc are likely to grow at a two-year high of up to 11.5% in Q1 of FY27, despite ongoing tensions in West Asia. 

Sustained high growth, reforms key for India to become developed nation by 2047: The International Monetary Fund said that sustained high growth and continuity in reforms will put India on the path to emerge as a developed economy by 2047.

India, Afghanistan review entire spectrum of bilateral ties in key meet in Delhi: India and Afghanistan held a key meeting here during which the two sides reviewed the entire spectrum of bilateral relations, including cooperation in the fields of humanitarian assistance, development partnership, food security, healthcare, education, trade, visa and connectivity. 

Union Minister Giriraj Singh reviews key initiatives to strengthen textile ecosystem: Union Textiles Minister Giriraj Singh has chaired a high-level review meeting to assess the progress of key initiatives aimed at strengthening India's textile ecosystem through technology upgradation, institutional reforms and enhanced industry support.

Global front: European markets were trading higher as data showed Germany's inflation slowed to a four-month low in June, as initially estimated. Asian markets settled mostly higher, tracking falling oil prices on speculation the escalation of hostilities between the U.S. and Iran will be limited. 

Finally, the BSE Sensex rose 827.57 points or 1.08% to 77,569.39 and the CNX Nifty was up by 244.10 points or 1.02% to 24,206.90.  

The BSE Sensex touched high and low of 77,642.23 and 77,320.56, respectively. There were 25 stocks advancing against 5 stocks declining on the index.      

The top gaining sectoral indices on the BSE were Realty up by 3.40%, IT up by 2.01%, PSU up by 1.58%, Metal up by 1.55% and Capital Goods up by 1.46%, while there was no losing sectoral index on the BSE.

The top gainers on the Sensex were Reliance Industries up by 2.28%, Tech Mahindra up by 2.19%, Bharat Electronics up by 2.17%, Axis Bank up by 1.92% and Tata Steel up by 1.78%. On the flip side, Eternal down by 0.89%, Bharti Airtel down by 0.49%, Sun Pharma down by 0.19%, Trent down by 0.04% and ITC down by 0.02% were the top losers.

Meanwhile, domestic rating agency Crisil’s arm -- Crisil Intelligence has projected that revenues of India Inc are likely to grow at a two-year high of up to 11.5% in the June quarter (Q1) of fiscal year 2026-27 (FY27), despite ongoing tensions in West Asia, which have had far-reaching implications, including supply chain disruptions and rising domestic inflation. Based on an analysis of 400 companies across 47 sectors, excluding banking, financial services, and oil & gas, the agency said corporate India is expected to deliver robust revenue growth as domestic demand has remained “reasonably well” despite developments in West Asia since late February.

According to the report, the automobile sector is likely to be among the strongest contributors to overall growth. It noted that automobiles, white goods, telecom services, power generation, and segments of the healthcare continued to benefit from healthy domestic demand. The automobile and white goods sectors gained from the rationalisation of Goods and Services Tax (GST) rates, while power generation was supported by rising peak demand and telecom services by premiumisation and data monetisation. Revenue in the automobile sector alone is estimated to have grown by as much as 24%, driven by GST-led demand momentum, strong passenger vehicle and two-wheeler sales, healthy commercial vehicle demand, export growth, and selective price hikes.

The report further stated that the power generation remained largely insulated from external disruptions and is likely to have recorded revenue growth of 8-10%, supported by an estimated 8% increase in peak power demand. Meanwhile, the telecom sector is projected to grow by 10-11%, aided by premiumisation, data monetisation, migration to postpaid plans, and subscriber upgrades. In sectors such as metals, cement, chemicals, tyres, fertilisers, gems and jewellery, and parts of the consumer segment, improved realisations contributed significantly to revenue growth. 

Moreover, aluminium producers benefited from supply disruptions and firmer global prices, while steel and cement companies gained from better pricing realisations. The report also noted that the IT sector is likely to post revenue growth of around 5%, supported by favourable currency movements, even as enterprises remain cautious in their spending decisions. However, profitability is likely to remain subdued during the quarter, with operating profit margins likely to contract by up to one percentage point.

CNX Nifty touched high and low of 24,228.45 and 24,120.35, respectively. There were 42 stocks advancing against 7 stocks declining, while 1 stock remained unchanged on the index.     

The top gainers on Nifty were JIO Financial Services up by 3.90%, HDFC Life Insurance up by 2.84%, Adani Enterprises up by 2.41%, Reliance Industries up by 2.36% and SBI Life Insurance up by 2.29%. On the flip side, Dr. Reddy's down by 1.19%, Eternal down by 0.87%, Bharti Airtel down by 0.63%, Nestle India down by 0.43% and Sun Pharma down by 0.30% were the top losers. 

European markets were trading higher; UK’s FTSE 100 increased 9.04 points or 0.09% to 10,481.49, France’s CAC rose 6.88 points or 0.08% to 8,333.50 and Germany’s DAX gained 31.43 points or 0.13% to 25,149.70. 

Asian markets settled mostly higher on Friday, tracking Wall Street’s gains overnight with semiconductor and artificial intelligence shares leading the surge ahead of the highly anticipated US stock market debut of South Korean memory-chip maker SK Hynix. Market sentiments rose further as Brent crude prices eased, the American currency weakened and US Treasury bond yields declined following signs that the United States and Iran will continue peace negotiations despite recent clashes. Japanese shares surged as the yen strengthened against its major peers following reports that Japan plans to encourage pension funds to enhance their holdings in local financial assets. Meanwhile, investors shifted their focus on the US Consumer Price Index (CPI) report, while a massive slate of Chinese data is scheduled for release next week.

Asian Indices

Last Trade            

Change in Points

Change in %      

Shanghai Composite

3,996.16

-40.43

-1.00

Hang Seng

24,175.12

144.94

0.60

Jakarta Composite

5,924.36

11.92

0.20

KLSE Composite

1,691.49

13.85

0.83

Nikkei 225

68,557.73

813.88

1.20

Straits Times

5,469.29

35.41

0.65

KOSPI Composite

7,475.94

184.03

2.52

Taiwan Weighted

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