The Indian stock market ended sharply higher on Friday, July 10, with benchmark indices Sensex and Nifty 50 rallying over 1% each. According to reports from LiveMint, the Sensex climbed 827.57 points, or 1.08%, to close at 77,569.39, while the Nifty 50 advanced 244 points, or 1.02%, to settle at 24,206.90. The rally added nearly ₹9.99 lakh crore to investor wealth, with the cumulative market capitalisation of BSE-listed companies rising to ₹481.79 lakh crore from ₹471.80 lakh crore after Wednesday's sharp sell-off. Over the past two trading sessions, the 30-share Sensex has gained 1,066 points, or 1.4%, while the Nifty 50 has risen 325 points, also up 1.4%. However, on a weekly basis, both indices slipped 0.25%, ending their four-week winning streak. As per Zee Business, the rally was described as a "quality rally" that sustained and strengthened on the following day, with gains visible across sectors for the second consecutive session.
Market sentiment remained upbeat amid reports that the US and Iran will continue technical talks despite recent hostilities, raising hopes of easing geopolitical tensions. As reported by LiveMint, investor sentiment also received support from largely in-line Q1 results reported by Tata Consultancy Services (TCS), which boosted IT stocks, while June quarter business updates from banks further strengthened confidence in the ongoing earnings season. Additionally, lower crude oil prices and strength in the rupee provided further support to domestic equities. According to Zee Business Managing Editor Anil Singhvi, the rally remained broad-based with gains visible across sectors for the second straight session, with midcap and smallcap stocks also extending gains. The Nifty faces resistance around 24,250 and 24,350, while the Bank Nifty could move towards 58,350-58,475. As long as Bank Nifty sustains above the 57,750-57,875 range, the overall bias is expected to remain positive, with a sustained breakout potentially paving the way for further upside in coming sessions.
According to Choice Broking, Bank Nifty has formed a strong bullish candlestick, reaffirming the continuation of the ongoing uptrend. The index has successfully held above the previous swing-high breakout zone, which is now aligned with the 50-Day and 200-Day EMA juncture, indicating a strong support base and improving trend strength. The immediate support is placed at 57,300–57,450, while 58,400–58,700 remains the key resistance zone. As per Zee Business, Bank Nifty continued to lead the rally by holding above the key 57,800 level, with the index showing strong momentum and sustained buying interest.
Bharat Electronics Ltd (BEL) has secured additional orders worth ₹572 crore since its last disclosure on June 22, 2026. The new orders include communication equipment, avionics, encryptors, tank subsystems, electronic voting machines (EVMs), batteries, components, upgrades, spares and services. According to CNBC TV18, the orders include communication equipment, radars, CBRN protection systems, seekers, avionics, upgrades, spares and services, with the latest contracts adding to the company's order inflows received during the current financial year. This follows BEL's earlier announcement of additional orders worth ₹1,081 crore since its last disclosure on May 25, 2026. The public sector undertaking informed stock exchanges that the company has secured these additional orders as part of its ongoing business activities. With these latest wins, BEL continues to strengthen its order book, driven by steady demand across defence electronics and strategic systems, with the company reporting a steady inflow of orders from the defence and government sectors.
BEL delivered robust fourth quarter results that exceeded analyst expectations across key metrics. Net profit for the period stood at ₹2,203 crore, which was higher than the CNBC-TV18 poll expectation of ₹2,138 crore. Revenue for the quarter grew by 11.6% from the same quarter last year to ₹10,177 crore, surpassing the CNBC-TV18 poll estimate of ₹10,012 crore. Earnings Before Interest, Tax, Depreciation and Amortisation for the quarter increased by 6% to ₹2,962 crore, which also turned out to be higher than the CNBC-TV18 poll estimate of ₹2,789 crore. However, BEL's EBITDA margin for the quarter narrowed by 150 basis points from last year to 29.1% from 30.6%, although it was higher than the CNBC-TV18 poll expectation of 27.7%. Shares of Bharat Electronics Ltd ended at ₹410.70, down by ₹4.20, or 1.01%, on the BSE following the results announcement. According to Business Standard, BEL reported a 4.61% jump in consolidated net profit to ₹2,225.22 crore on an 11.74% rise in revenue from operations to ₹10,224.43 crore in Q4 FY26 over Q4 FY25.
