Market Update | July 9, 2026

Indian benchmark indices ended Thursday’s session on a positive note, snapping a two-day losing streak as bargain buying emerged after Wednesday’s sharp sell-off. While renewed buying interest helped lift the markets, gains remained capped amid lingering concerns over escalating tensions in the Middle East and rising crude oil prices.

The Nifty 50 opened 47 points higher and extended its gains during the session, briefly reclaiming the 24,000 mark. However, profit booking in the final hour erased a portion of the day’s gains, pushing the index back below the psychological level before the close.

The Nifty 50 settled at 23,962.80, gaining 80.75 points (+0.34%), while the Sensex rose 238.22 points (+0.31%) to close at 76,741.82. The Bank Nifty outperformed, advancing 0.90% to 57,252, while India VIX declined nearly 9%, slipping below the 14 mark, indicating easing volatility.

Key Factors That Drove Today’s Market

Bargain Buying Supports Recovery

After Wednesday’s broad-based sell-off, investors stepped in to accumulate quality stocks at lower levels, helping benchmark indices recover despite an uncertain global backdrop.

Middle East Tensions Continue to Keep Markets on Edge

Investor sentiment remained cautious after fresh US strikes on Iran intensified geopolitical tensions. Concerns over the security of the Strait of Hormuz—a key global oil shipping route—continued to weigh on global markets.

Crude Oil Remains a Key Monitor

Brent crude remained volatile during the session after nearing USD 79 per barrel earlier in the week. Although prices eased to around USD 76 per barrel during Indian trading hours, elevated oil prices continue to pose risks for inflation and India’s import bill.

Investors Await Fresh Market Triggers

Market participants will now closely watch developments surrounding the US-Iran conflict, crude oil movements, the upcoming June-quarter earnings season, and the progress of the monsoon for further market direction.

Sectoral Performance

Market breadth improved significantly, with 9 out of 11 sectoral indices ending in positive territory.

• Nifty Realty emerged as the biggest gainer, rallying 3.54%, with all constituent stocks closing higher.
• Nifty Midcap 100 gained 1.38%.
• Nifty Smallcap 100 advanced 1.80%, recovering most of the previous session’s losses.
• Nifty IT was the only major laggard, slipping 0.30%, largely due to weakness in Infosys ahead of earnings.

Stocks in Focus

• TCS declined 0.39% as investors remained cautious ahead of its June-quarter earnings announcement after market hours.
• Coforge gained 1.57% after launching its AI-powered SecureEdge2Cloud cybersecurity platform.
• Dr. Reddy’s Laboratories fell 5.89% following news of a delay in semaglutide supply.

Top Contributors to Nifty 50

Top Pullers

• Bharti Airtel (+28.60 points)
• HDFC Bank (+24.27 points)
• Sun Pharmaceutical Industries (+11.92 points)

Top Draggers

• Infosys (-14.18 points)
• Dr. Reddy’s Laboratories (-10.65 points)
• Axis Bank (-7.47 points)

Market Breadth

Market breadth remained firmly positive, reflecting broad-based participation.

• Advancing Stocks: 2,522
• Declining Stocks: 780
• Unchanged: 112

Additionally:

• 82 stocks touched their 52-week highs.
• 47 stocks hit their 52-week lows.
• 130 stocks were locked in the upper circuit.
• 70 stocks were locked in the lower circuit.