Indian benchmark indices delivered strong closing performance on Friday, with the BSE Sensex gaining 827.57 points to settle at 77,569.39 and the NSE Nifty 50 rising 244.10 points to close at 24,206.90, ending above the 24,200 mark. According to The Times of India, both indices ended 1% higher respectively on Friday, extending gains for the second day. The Sensex rallied 1.08% while the Nifty jumped 1.02%, with the Sensex rallying 1.35% and the Nifty jumping 1.33% over two consecutive trading sessions. The indices showed remarkable resilience throughout the session, with the Sensex jumping 900.41 points to 77,642.23 during intraday trading before settling at the final close. The India VIX, which measures market volatility, crashed another 8.30% to 12.25, indicating reduced investor uncertainty. As per The Economic Times, the rally added nearly ₹6 lakh crore to the combined market capitalisation of all BSE-listed companies, taking it to nearly ₹482 lakh crore. The easing crude oil prices and buying in IT stocks propelled the rally, with heavyweight stocks Reliance Industries, ICICI Bank and HDFC Bank leading the charge.
Information technology stocks dominated Friday's trading session, with TCS shares rallying as much as 1% on the NSE, a day after the company registered decent financial performance for Q1 FY27. TCS on Thursday reported a consolidated net profit of ₹13,349 crore for the quarter ended 30 June 2026 (Q1 FY27), up 4.61% from ₹13,718 crore in Q4 FY26. Revenue from operations rose 2.2% sequentially to ₹72,275 crore in Q1 FY27 from ₹70,698 crore in the preceding quarter, with revenue growing 0.4% quarter-on-quarter in constant currency terms. The company also reported an annualised AI revenue run rate of $2.6 billion, up 13.6% sequentially, reflecting continued momentum in its AI business. TCS posted revenue growth of 13.9% in Q1 FY27, lifting the IT sector 2% on the day. EBIT declined 3.1% to ₹17,317 crore and the EBIT margin narrowed 130 basis points to 24%, largely reflecting the impact of wage hikes. The company also announced an interim dividend of ₹12 per share and expressed confidence that demand, which was impacted by the West Asia conflict during the quarter, is likely to recover in the ongoing quarter. According to The Hindu BusinessLine, "TCS delivered last night and the numbers mattered... AI-led revenue crossed a $2.6 billion annualised run rate. The order book came in at $9.5 billion... For a sector that has been written off for weeks, that is a significant statement," said Sarvam Goel, Founder, Pocketful. IT stocks gained on the back of TCS's strong quarterly results and improved demand outlook, with IT index rising 2% on Friday, led by TCS, which gained 1% after a quarterly revenue beat and rising AI-linked sales boosted sector recovery hopes.
The Nifty Realty index emerged as the top performer, rising 3.49% to 938.60, recovering from a 7.03% decline over the previous two trading sessions. Realty extended its outperformance, ending the week as the top sectoral gainer with a 5.29% weekly advance, as per The Hindu BusinessLine. Brigade Enterprises surged 8.01%, Godrej Properties gained 5.07%, DLF rose 4.15%, Sobha increased 3.46%, Prestige Estates Projects added 3.35%, Aditya Birla Real Estate jumped 3.13%, Anant Raj rose 2.88%, Phoenix Mills gained 2.72%, Lodha Developers increased 2.45%, and Oberoi Realty rose 2.34%. As per The Hindu, Nifty Realty, PSU Bank and IT emerged as the best-performing sectoral indices, adding to the strength in the broader market. Jio Financial Services, HDFC Life, Adani Enterprises and Reliance Industries were among the top Nifty gainers, according to CNBC TV18. Nifty Realty, PSU Bank and IT emerged as the best-performing sectoral indices, adding to the strength in the broader market. According to The Hindu BusinessLine, nine of 16 major sectors logged weekly losses, with the broader mid-caps and small-caps rising 1.4% and 1.3% respectively.
The Nifty Midcap 100 rose 1.40% to close at a fresh record high, while the Nifty Smallcap 100 gained 1.49%, reflecting healthy participation across market capitalisation segments, as per The Hindu BusinessLine. PSU banks were another standout, with the Nifty PSU Bank index jumping 3%. Bank of Maharashtra reported a 27% year-on-year rise in net profit to ₹2,020 crore, while Indian Bank's net profit rose 10.1% to ₹3,273 crore. Indian Bank also announced plans to raise up to $1.5 billion through FCNR(B) deposits. Media was the week's worst performer, shedding 2%. On the mutual fund front, AMFI data for June showed total industry AUM climbed to ₹82.22 lakh crore, with actively managed equity funds attracting net inflows of ₹28,973 crore, up 26% from May. From the Sensex pack, Tech Mahindra, Bharat Electronics, Axis Bank, Tata Steel and Infosys were among the major winners, while the laggards from the Blue-Chip pack were Eternal, Bharti Airtel, Sun Pharma and Trent.
According to The Hindu BusinessLine, the trigger for the rally was better-than-expected earnings from TCS, which gave the battered IT sector a credible floor, while strong quarterly numbers from public sector banks and persistent buying in realty stocks kept the broader momentum intact. Easing crude oil prices and buying in IT stocks propelled the rally, with heavyweight stocks Reliance Industries, ICICI Bank and HDFC Bank leading the charge. "Markets witnessed a strong rebound on Friday... the positive undertone was primarily driven by a steady start to the Q1 earnings season, with TCS's in-line results relieving participants. Besides, continued softness in crude oil prices and stability in the rupee further supported investor confidence," said Ajit Mishra, SVP Research, Religare Broking. Brent crude, the global oil benchmark, dipped 0.30% to $76.07 per barrel, providing additional support to market sentiment. In Asian markets, South Korea's Kospi, Japan's Nikkei 225 index and Hong Kong's Hang Seng index ended higher, while Shanghai's SSE Composite index settled lower. Markets in Europe were trading on a mixed note, while U.S. markets ended higher on Thursday (July 9, 2026). Foreign Institutional Investors (FIIs) offloaded equities worth ₹532.86 crore on Thursday (July 9, 2026), according to exchange data. Vinod Nair, Head of Research at Geojit Investments, noted that after a brief interim correction, the market appears to be on track for a strong recovery, with positive business updates from banks, along with a constructive outlook for the IT sector driven by in-line estimates, a potential rebound in global spending, and AI-related opportunities setting the stage for an optimistic start to the Q1 earnings season.
