The GIFT Nifty July 2026 futures traded 110 points higher at 24,104.50, signaling a strong positive opening for Indian equity markets today. This represents a significant upgrade from the previous day's 31.50 points gain, indicating heightened market optimism. Indian benchmark indices traded sharply higher on Friday, with the Sensex climbing over 800 points to settle above 76,742 and the Nifty advancing 81 points to close above 24,200. The India VIX, the market's fear gauge, tumbled around 10% to 13.27 after surging 26% in the previous session, reflecting reduced investor anxiety and improved market sentiment.
Foreign portfolio investors (FPIs) sold shares worth ₹532.86 crore on July 9, 2026, while domestic institutional investors (DIIs) were net buyers to the tune of ₹2,057.79 crore. As reported by Business Standard, this marks a significant shift in institutional sentiment, with FPIs having bought shares worth ₹1,969.17 crore so far in July through July 9. This contrasts sharply with their substantial cash sales of ₹49,028.63 crore in June, ₹55,963.33 crore in May, and ₹70,135.46 crore in April.
The Nifty Metal index rose 2.32% to 12,793.60, with the index jumping 4.75% in the two consecutive trading sessions, emerging as the standout performer in today's session. Hindustan Copper surged 4.57%, National Aluminium Company gained 3.86%, Lloyds Metals & Energy rose 3.05%, Jindal Steel advanced 2.92%, Adani Enterprises climbed 2.8%, Steel Authority of India increased 2.71%, Hindustan Zinc rose 2.56%, Tata Steel gained 2.41%, JSW Steel rose 2.32%, and APL Apollo Tubes climbed 2.13%. Ceinsys Tech added 2.79% after securing a ₹67.04 crore contract from the Directorate of Urban Administration & Development, Government of Madhya Pradesh. Apollo Micro Systems gained 2.36% after signing a definitive share purchase agreement to acquire a 41.33% promoters' stake in Premier Explosives for ₹1,550 crore in an all-cash transaction.
The broader market outperformed the frontline indices significantly, with the BSE 150 MidCap Index adding 1.32% and the BSE 250 SmallCap Index rising 1.22%. According to market experts, the market is witnessing a broad-based recovery, with most sectoral indices trading in the green. Defensive pockets such as Pharma, Healthcare and Nifty500 Healthcare are underperforming, indicating a shift in investor preference towards cyclical and growth-oriented segments. This rotation suggests investors are moving away from traditional defensive stocks toward sectors benefiting from the current economic environment and growth prospects.
Market breadth remained strong with 2,767 shares rising and 926 shares falling on the BSE, while 207 shares remained unchanged. Asian stocks advanced on Friday as investors returned to semiconductor shares on renewed optimism surrounding AI-driven demand, while oil prices edged lower. According to Business Standard, Japan's Nikkei climbed 1.8% and South Korea's KOSPI rose 2.4%, with AI heavyweights SK Hynix and Samsung each rising around 3% after Micron Technology announced plans to invest over $250 billion in the US through 2035. U.S. stocks ended mixed on Thursday, with the Nasdaq surging as a strong rally in semiconductor shares outweighed concerns about renewed military strikes between the United States and Iran.
