Stock Market Highlights Today: Nifty gained 230 pts, is the IT rebound durable? – 10th July 2026

Indian equities extended gains on Friday, 10 July, with the Nifty 50 climbing about 230 points past 24,200 and the Sensex rising over 800 points, driven by a sharp rebound in IT stocks after TCS’ June quarter earnings and strong global cues.

The rally, which added nearly ₹5 lakh crore to BSE market capitalisation according to exchange data, came even as geopolitical tensions in West Asia persisted and foreign investors remained marginal net sellers in the previous session.

Market Overview

Index	10 Jul 2026 Close (approx.)	Move & % Change	Comments
Sensex	77,527	+800 pts (approx. +1.0%)	IT heavyweights lifted index, second straight gain.
Nifty 50	24,197	+230 pts (approx. +1.0%)	Crossed 24,200 intraday, broad-based advance.
Nifty IT	approx. 36,000	up more than 3%	Sector led rally after TCS results.
Nifty Metal	approx. level not stated	up over 1%	Followed global risk-on mood.
Nifty Smallcap 100	approx. level not stated	up to 0.7%	Broader markets participated in upmove.
Nifty Midcap 100	approx. level not stated	up to 0.7%	Midcaps gained, tracking benchmark strength.
India VIX	12.71	down 9%	Volatility gauge eased, signalling improved risk appetite.

• Sensex hit an intraday high near 77,527, per BSE figures.
• Nifty 50 moved above 24,200, extending Thursday’s recovery.
• Market breadth on NSE: 2,010 advances, 429 declines, 97 unchanged.
• Combined BSE market capitalisation rose to nearly ₹481 lakh crore.

Key Movers

Top Gainers

Stock	Sector	Notable Factor
Infosys	IT services	Rose 3-4%, tracking sector-wide optimism post TCS earnings.
TCS	IT services	Gained nearly 2-4% after in-line Q1 profit and revenue growth.
HCL Tech	IT services	Among top Sensex gainers, up 3-4% per exchange data.
Tech Mahindra	IT services	Advanced 3-4%, benefiting from IT sector re-rating.
Oracle Financial Services Software	IT products	Hit 52-week high, up around 3-4% in trade.
IndiGo	Aviation	Rose over 1%, aiding benchmark gains.
ICICI Bank	Banking	Climbed more than 1%, supporting financials.
UltraTech Cement	Cement	Gained over 1%, part of broad cyclical rally.
Tata Steel	Metals	Up more than 1%, riding Nifty Metal strength.
M&M	Auto	Added over 1%, reflecting positive domestic sentiment.
SBI	Banking	Advanced more than 1%, in line with financials.

• IT names were the dominant contributors to index gains.
• Oracle Financial’s move stood out within Nifty IT constituents.

Top Losers

Stock	Sector	Notable Factor
Sun Pharma	Pharmaceuticals	Fell around 1%, bucking the broader market rally.
Bharti Airtel	Telecom	Traded weak in early deals, per BSE data.

• Nifty Pharma index slipped around 1%, lagging other sectors.

Sectoral Action

Sector/Index	Direction (approx.)	Key Drivers
Nifty IT	up more than 3%	Boosted by TCS earnings and Oracle Financial’s strength.
Nifty Metal	up over 1%	Supported by global risk-on sentiment and Asian market gains.
Nifty Pharma	down around 1%	Dragged by Sun Pharma weakness.
Financials & Autos	up over 1%	Anticipation of good Q1 numbers, per market commentary.

• IT stocks were the clear leaders across indices.
• Broader participation seen in banks, autos, and select cyclicals.

Oracle Financial Services: Standout IT Performer

• Oracle Financial Services Software (OFSS) is the only Nifty IT stock with year-to-date gains in 2026.
• OFSS shares are up 49-50% so far this year, per NSE data.
• The stock has gained a little over 52% in the last six months.
• It hit a 52-week high around ₹11,594 intraday on Friday.
• OFSS has risen in six of the last ten sessions and three straight months.
• Majority of the YTD move came from a 44% jump in April.
• This year’s performance is its second-best calendar year since 2012.
• Shares had surged 203% in calendar 2024, according to exchange history.

OFSS Fundamentals

• Q4 FY26 net income rose 31% year-on-year, per company filings.
• Q4 FY26 revenue grew 20% YoY, operating income increased 39% YoY.
• EBIT margin improved to 51.2% from 41.7% in the previous quarter.
• FY26 consolidated revenue stood at ₹7,670 crore, up 12% YoY.
• FY26 net income reached ₹2,640 crore, up 11% YoY.
• FY26 net margin remained strong at 34%, operating margin at 44%.
• Q4 FY26 net profit was ₹841.7 crore, up 38.1% sequentially.
• Q4 FY26 revenue was ₹2,065.2 crore, up 5.1% quarter-on-quarter.
• The company announced a ₹270 per share dividend for Q4.
• Total annual dividend payout for FY26 reached ₹400 per share.

OFSS Ownership

• Promoters held 72.44% stake at end March quarter.
• Mutual funds owned 5.53%, as per shareholding pattern.
• LIC held 2.34% stake.
• Around 1.3 lakh small retail shareholders owned 7.06%.

Technical Outlook: OFSS and Nifty

OFSS Technicals

• OFSS trades above its 20- and 50-month EMAs, indicating long-term uptrend.
• Price is positioned above the Ichimoku Cloud, signalling bullish momentum.
• Stock rebounded from the 20-month EMA, sustaining higher highs and higher lows.
• Cumulative Volume Delta has turned positive, suggesting accumulation.
• ADX remains above 30, indicating a strong primary trend.
• The stock broke above its 50-DMA on 6 April, then crossed 100- and 200-DMA.
• It retested the 50-DMA in June, then bounced, per technical charts.

• “Overall, the technical setup remains constructive, and the stock is well placed to continue its long-term uptrend, with any intermediate correction likely to attract buying interest rather than signal a trend reversal.” — Jigar S. Patel, Senior Manager, Equity Technical Research, Anand Rathi Share and Stock Brokers.

• Any dip toward ₹10,400-₹10,000 is seen as a buying zone.
• Immediate resistance is around ₹12,250, followed by ₹13,000.

• “Any dip toward the ₹10,400 to ₹10,000 range should be considered a fresh buying opportunity. On the upside, ₹12,250 will act as immediate resistance, followed by the ₹13,000 level.” — Vipin Kumar, AVP Research, Globe Capital Market.

Nifty Technical View

• Recovery swing in Nifty is underway after recent correction, per market strategists.
• India VIX near 12.7 suggests subdued near-term volatility.

Global Cues

Market/Asset	Movement	Notes
Kospi (South Korea)	around +5%	Jumped, exiting bear territory after recent 18% slide.
Nikkei 225 (Japan)	around +2%	Traded nearly 1.9% higher in Asian session.
Hang Seng (Hong Kong)	around +2%	Climbed about 1.7%, aiding regional sentiment.
Shanghai Composite (China)	nearly +1%	SSE index up around 0.7-1%.
US indices (Nasdaq)	more than +1%	Tech-led rebound on Thursday, per US exchange data.
CAC, DAX (Europe)	around +1%	Major European indices gained, FTSE lagged.
Brent crude	around +0.3% at $76	Slightly higher, still below earlier war highs.
WTI crude	near $72	Traded below $72 per barrel.
USD/INR	rupee at 95.32	Rupee rose 15 paise against dollar in early trade.

• Global equities largely shrugged off renewed Iran US tensions.
• Concerns remain over potential disruption to the Strait of Hormuz.

• “Tensions in West Asia continue without any clarity of a resolution to the geopolitical crisis. However, interestingly, markets are largely ignoring these negative developments. This confident message from the market is significant. But investors have to be cautious, warranting monitoring of the developments.” — V.K. Vijayakumar, Chief Investment Strategist, Geojit Investments.

Flows and Market Statistics

Statistic	Value/Change	Context
FII flows (9 Jul 2026)	net sell ₹532.86 crore	Foreign investors booked profits despite improving sentiment.
FII trend (1-8 Jul 2026)	net buy ₹8,280 crore+	Six-session buying streak before latest selling.
India VIX	12.71, down 9%	Indicates lower perceived near-term risk in equities.
BSE market cap	nearly ₹481 lakh crore	Rally added about ₹5 lakh crore in a single session.

• FIIs remain structurally constructive despite day-to-day volatility.
• Domestic flows and sector earnings expectations underpin indices.

Frequently Asked Questions

Why did Nifty and Sensex rally on 10 July 2026?

The indices rose over 1 percent each, driven mainly by strong gains in IT stocks after TCS reported in-line June quarter earnings, positive global equity cues, and easing volatility as reflected in a sharp fall in India VIX.

What makes Oracle Financial Services stand out in the Nifty IT index?

Oracle Financial Services is the only Nifty IT constituent with year-to-date gains in 2026, has risen about 50 percent this year, hit a 52-week high, and reported double-digit revenue and profit growth with strong margins and high dividend payouts.

How are global markets influencing Indian equities currently?

Asian and US markets posted strong gains, oil prices eased from recent peaks, and despite Iran US tensions, global risk appetite stayed firm, supporting Indian equities through better sentiment and sectoral tailwinds, especially in technology and metals.