Indian benchmark indices surged sharply on Friday, April 10, with SENSEX rising as much as 630 points and NIFTY50 index touching an intraday high of 24,074. As of 9:25 AM, SENSEX was up 529 points at 77,160 and NIFTY50 gained 168 points to 23,943. The rally was powered by gains in heavyweight banking stocks including HDFC Bank, ICICI Bank, Reliance Industries, Axis Bank and State Bank of India. This marked a significant improvement from the earlier session where Nifty50 was at around 23,921.05, up 146 points or 0.61% and BSE Sensex was at 77,057.50, up 426 points or 0.56%. The banking sector's strong performance contributed significantly to the market's upward momentum.
For the week, the BSE Sensex and Nifty gained nearly 6 percent each, marking their best weekly performance since February 2021, while also snapping a six-week losing streak. At close, the Sensex was up 918.60 points or 1.20 percent at 77,550.25, and the Nifty was up 275.50 points or 1.16 percent at 24,050.60. The market opened on a gap-up note and witnessed broad-based buying across sectors, except IT. Biggest Nifty gainers were Asian Paints, Eicher Motors, ICICI Bank, Bajaj Auto, Shriram Finance, while losers included Coal India, Sun Pharma, Infosys, TCS, Tech Mahindra. Among sectors, Auto, Capital Goods, Consumer Durables, Realty, Power, FMCG, PSU Bank, Metal, PSU Bank, Private Bank added 1-2%, while IT index shed 1.7%.
Tata Consultancy Services reported strong Q4 performance with consolidated net profit of ₹13,718 crore in Q4FY26, marking an increase of 12% from ₹12,224 crore in the same period last year. On a sequential basis, TCS' net profit rose 29% from ₹10,657 crore. The company's revenue from operations jumped 10% annually to ₹70,698 crore at the end of March quarter from ₹64,479 crore. In constant currency terms, its revenue rose 1.2% and sequentially. The company's annualised revenue from artificial intelligence crossed $2.3 billion in the fourth quarter of FY26. Anand Rathi Wealth reported a 25% surge in profit after tax to ₹92 crore for the three months ended March 2026, with total revenue climbing 25% to ₹301.6 crore from ₹241.3 crore in January-March 2025. Fino Payments Bank demonstrated robust growth with gross loan portfolio increasing 14% to ₹29,590 crore and disbursements soaring 28% to ₹8,313 crore.
Asian Paints emerged as the top NIFTY50 gainer with a 4.02% surge, followed by Kwality Wall's at 3.81% and ICICI Bank at 3.17%. Other notable gainers included M&M at 2.94%, SBI at 2.48%, Axis Bank at 2.45%, InterGlobe at 2.37%, Bajaj Finance at 2.36%, Bajaj Finserv at 2.35%, and Adani Ports SEZ at 1.93%. On the losing side, Sun Pharma declined 3.63%, Infosys fell 2.94%, TCS dropped 2.50%, Tech Mahindra declined 1.47%, and HCL Tech fell 0.94%. Coal India was the worst performer among SENSEX stocks, falling 4.41%, while Sun Pharma also declined 3.63%. The market's positive momentum was supported by gains in banking, auto and financial counters, while IT stocks saw some profit booking after TCS' financial results.
Foreign institutional investors sold shares worth ₹1,711 crore on Thursday while domestic institutional investors bought shares worth ₹956 crore, as per NSE data. The FIIs have so far this month sold shares worth ₹46,149 crore. In index futures, FII positioning remains largely unchanged following the recent short covering, with the long-to-short ratio still skewed at 20:80. The positive trend was led by buying in banking, auto and financial stocks, while IT counters saw some profit booking after TCS' financial results. Investor sentiment improved amid hopes of further easing in the West Asia crisis ahead of U.S.-Iran negotiations and lower crude prices, with domestic markets expected to remain sensitive to global developments, particularly those linked to the US-Iran situation and crude oil movements. Brent crude, the global oil benchmark, rose 0.57% to USD 96.47 per barrel.
