Indian Stock Markets End Higher As Banking And IT Shares Fuel Strong Friday Rally

Stock Market , 10 July : Domestic equity markets closed firmly in positive territory on Friday, extending their recent gains on the back of sustained buying across several heavyweight sectors.

The BSE Sensex advanced 827.57 points to finish at 77,569.39, while the NSE Nifty50 climbed 244.10 points to settle at 24,206.90.

Investors remained active in information technology, financial and real estate counters, helping the benchmark indices register gains of more than one per cent.

Real estate companies led the day’s rally, with the Nifty Realty index soaring over 3 per cent. The Nifty IT index also delivered an impressive performance by adding close to 2 per cent, while PSU banking stocks recorded gains of around 3 per cent.

Other sectoral indices, including chemicals, metals, cement and oil and gas, also ended higher, rising by as much as 1.66 per cent during the session.

The FMCG sector stood out as the only notable laggard, with its index closing marginally lower.

Earnings Optimism Drives Market Confidence

Analysts attributed the positive momentum to encouraging business updates from major banks and an improving outlook for the technology sector.

Expectations of resilient quarterly earnings, recovering global demand for technology services and expanding artificial intelligence opportunities have strengthened investor confidence.

According to market experts, stronger-than-anticipated June quarter earnings could reduce concerns surrounding corporate profit growth and sustain the current market momentum.

They also observed that buying interest has widened beyond frontline stocks, with metals and real estate attracting increased participation.

Experts further noted that declining global crude oil prices and improving performance in international technology stocks have enhanced sentiment towards Indian equities, encouraging foreign institutional investors to return to the market.

Brent crude traded at $75.41 per barrel after falling by more than one per cent, while US West Texas Intermediate (WTI) crude dropped 1.27 per cent to $71.16 per barrel, offering additional support to investor sentiment.