Indian stock markets recorded sharp gains on Tuesday, with BSE Sensex starting above 78,400, climbing more than 150 points, while NSE Nifty50 rang the opening bell over 24,450, inching up close to 30 points as of 9:15 AM. This marked the fifth consecutive session of gains for both indices, with the rally adding more than ₹2 lakh crore to the total market capitalisation of all companies listed on the NSE, pulling it up to ₹482 lakh crore. The GIFT Nifty was trading at 24,586, up 102 points, indicating that the Nifty50 could extend Monday's gains at the opening bell despite mixed global cues. India VIX, which measures market volatility, inched higher to 11.85 during the session. The overall market breadth remained neutral, as 1,578 stocks advanced while 1,769 declined on the NSE, with 115 remaining unchanged. 146 stocks reached 52-week highs and 41 hit 52-week lows, while 114 stocks hit the upper circuit and 99 hit the lower circuit. Over the last four sessions, both benchmarks have gained over 2% each. According to The Economic Times, the rally was driven by improved monsoon prospects, renewed FII buying, stable crude prices and optimism around earnings despite mixed global market cues.
The Indian equity benchmarks rose for a fifth straight session on Tuesday, July 7, as sentiment remained positive on expectations of a strong earnings season after a slew of companies announced their encouraging quarterly business updates. Sensex rose as much as 634 points and Nifty50 index touched an intraday high of 24,459, led by gains in HDFC Bank, ICICI Bank, Reliance Industries, Eternal, Axis Bank and Bharti Airtel. HDFC Bank, the country's largest private sector lender, said that its gross advances in the first quarter of current financial year rose 15.4% to ₹30.61 lakh crore, compared to ₹26.53 lakh crore last year. Axis Bank said that its gross loans in the first quarter advanced 19% to ₹12.73 lakh crore as against ₹10.72 lakh crore in the year-ago period. FMCG companies like Godrej Consumer Products and Dabur said that they would record double digit growth in revenues, while defence stocks ended higher as the Defence Acquisition Council (DAC) on Friday accorded Acceptance of Necessity (AoN) for capital acquisition proposals worth ₹52,000 crore. IndusInd Bank jumped 3.52% after the banks deposits jumped 4.5% to ₹4,14,992 crore as on 30th June 2026 compared with ₹3,97,144 crore as on 30th June 2025. Karur Vysya Bank rose 4.30% after it reported a 15.94% year-on-year increase in total business to ₹2,27,265 crore as of 30 June 2026. Dixon Technologies jumped 7% after Investec raised its target price to ₹16,200 per share, and Diamond Power hit the 10% upper circuit after securing an order worth ₹436 crore.
12 of 15 major sector gauges compiled by the National Stock Exchange (NSE) ended higher, led by the NIFTY Realty index's 1.8% gain. NIFTY Consumer Durables, Oil&Gas, Private Bank, Pharma, Metal, Auto, Bank and Financial Services indices also rose between 0.5% and 1.4%. However, PSU banking, IT and media shares faced selling pressure. Nifty Bank advanced 353 points to 58,292, led by HDFC Bank and ICICI Bank, while Nifty Auto and Nifty Realty emerged as the top-performing sectoral indices during the session. Nifty IT index gained over 0.7% to lead gains, while Nifty Metal and Nifty Realty slipped into the red. Nifty Pharma gained for the third consecutive day with the pharma index hitting a record high and gains for the third straight session, led by Abbott and Glenmark. Nifty Metal gained for the third consecutive session with Welspun Corp and Hindalco leading gains, while Nifty FMCG gained for the fourth straight session led by Radico Khaitan and United Spirits. Midcap Index added 281 points to close at 62,472, with market breadth remaining in favour of advances. In the midcap segment, Dixon Technologies, Radico, Hitachi Energy and GE Vernova T&D gained between 3% and 7%, while Groww, MCX, Bank of India, Suzlon and Bank of Maharashtra were among the top losers. In the small-cap space, Swan Corp, Manappuram Finance, Welspun Corp and Aegis Logistics advanced, while Zensar Technologies, Ola Electric and Pine Labs weighed on the index.
Eternal and HDFC Bank shares were the top gainers on the Sensex, rising more than 1% each, while Zudio-parent Trent shares sharply tumbled more than 9% to lead losses. Within the banking space, IndusInd Bank, HDFC Bank, ICICI Bank and IDFC First Bank were among the leading gainers, while Kotak Mahindra Bank, Union Bank and Punjab National Bank were the biggest drags. Defence stocks outperformed after the Defence Acquisition Council approved capital acquisition proposals worth ₹52,000 crore, with Zen Technologies, Dynamatic Technologies, Paras Defence and Data Patterns outperforming. Among the Nifty 50 constituents, HDFC Bank, Hindalco, ONGC, Bajaj Auto and Mahindra & Mahindra led the gains, while Kotak Mahindra Bank, Max Healthcare, TCS and Coal India were the top losers. In the midcap segment, Dixon Technologies, Radico, Hitachi Energy and GE Vernova T&D gained between 3% and 7%, while Groww, MCX, Bank of India, Suzlon and Bank of Maharashtra were among the top losers. In the small-cap space, Swan Corp, Manappuram Finance, Welspun Corp and Aegis Logistics advanced, while Zensar Technologies, Ola Electric and Pine Labs weighed on the index.
The Nifty Realty index advanced 1.56% to 904.70, with the index gaining 10.76% in the five consecutive trading sessions. Brigade Enterprises (up 4.68%), Lodha Developers (up 3.78%), Phoenix Mills (up 2.91%), Godrej Properties (up 2.7%), Prestige Estates Projects (up 2.31%), Sobha (up 1.05%), Aditya Birla Real Estate (up 1.05%), and Oberoi Realty (up 0.79%) rose during the session. Sobha advanced 0.78% after the company reported total sales value jumped 75.88% YoY to ₹3,656.1 crore in Q1 FY27, led by strong response to new project launches including SOBHA OneWorld and Sacred Grove in Bangalore and SOBHA Crescent in Gurgaon. Faalcon Concepts hit the 20% upper circuit after securing a ₹101.93 crore work order from Splendor Information Technology, an order valued at more than three times the company's BSE market capitalisation of approximately ₹33.45 crore.
