Closing Bell: Sensex Jumps Over 900 Points, Nifty 50 Reclaims 24,000 Mark; Banknifty Logs Biggest Weekly Gains in Last 5 Years

Market Update at 03:59 PM: Indian benchmark indices, the Sensex and Nifty 50, ended higher on Friday, April 10, surging over 1 per cent and snapping a six-week losing streak. The rally was supported by optimism around the Iran ceasefire and ahead of U.S.-Iran talks.

Indian equities witnessed a broad-based rally led by financial stocks, with blue-chip indices on track for their best weekly performance in over five years. However, geopolitical tensions persisted as Washington accused Tehran of breaching commitments related to the Strait of Hormuz, while Israel launched strikes in Lebanon, which Iran claimed violated the truce. Negotiations between the two sides are scheduled to take place in Pakistan on Saturday.

The Nifty 50 opened 105 points higher with a gap-up start and maintained momentum throughout the session. It closed 275.50 points higher, or 1.16 per cent, at 24,050.60, reclaiming the crucial 24,000 mark. The Sensex advanced 918.60 points, or 1.2 per cent, to settle at 77,550.75. The Bank Nifty outperformed the frontline indices, gaining 1.99 per cent to close at 55,912.75. Meanwhile, the India VIX declined nearly 8 per cent, slipping below the 19 mark, indicating reduced market volatility.

On a weekly basis, the Nifty 50 surged 5.89 per cent, marking its biggest weekly gain in the last five years and breaking a six-week losing streak. The Bank Nifty also posted a sharp rally of over 8 per cent, its strongest weekly performance since 2021.

Crude oil prices remained steady, with Brent crude rising 0.1 per cent to USD 93.77 and WTI gaining 0.2 per cent to USD 91.86. The Strait of Hormuz continued to see restricted shipping activity, with marine traffic operating at less than 10 per cent of normal levels as Iran maintained control over the strategic route.

In the Mutual Fund space, actively managed Equity Funds saw strong inflows in March. According to data from the Association of Mutual Funds in India (AMFI), net inflows stood at Rs 40,450.26 crore, the highest since July 2025, compared to Rs 25,977.81 crore in February. Despite this, the overall mutual fund industry recorded net outflows of Rs 2.39 lakh crore, reversing inflows of Rs 94,530 crore seen in the previous month.

On the sectoral front, 10 out of 11 indices ended in the green. Broader markets outperformed the benchmarks, with the Nifty Midcap and Nifty Smallcap 100 indices rising 1.52 per cent and 1.65 per cent, respectively. The Nifty Auto index emerged as the top gainer, jumping 2.85 per cent, with all its constituents closing higher and the index hitting a one-month high. In contrast, the Nifty IT index was the only laggard, declining 1.91 per cent and snapping a six-day winning streak.

Among stock-specific movements, Tata Consultancy Services shares fell 3 per cent after reporting a decline in full-year dollar revenue. On the other hand, Wipro shares rose 2 per cent after the company announced that it would consider a proposal for a share buyback.

In terms of index contribution, ICICI Bank, HDFC Bank, and Reliance Industries were the top contributors to the Nifty 50 gains, adding 63.53 points, 42.22 points, and 29.86 points, respectively. Conversely, Infosys, Sun Pharmaceutical Industries, and Tata Consultancy Services weighed on the index, dragging it down by 29.98 points, 14.73 points, and 14.49 points, respectively.

Market breadth remained firmly positive. Out of 3,342 stocks traded on the NSE, 2,667 advanced, 1,670 declined, and 100 remained unchanged. A total of 69 stocks hit their 52-week highs, while 9 touched their 52-week lows. Additionally, 179 stocks were locked in Upper Circuits, whereas 29 stocks were in Lower Circuits.

Market Update at 2:35 PM: Indian benchmark indices, Nifty 50 and Sensex, remained under pressure on Thursday, trading in a narrow range as rising geopolitical tensions and surging oil prices dampened investor sentiment.

The weakness in the market came after oil prices resumed their upward rally following fresh tensions between Iran and the U.S. Iran accused the U.S. of violating the recently announced ceasefire agreement, raising concerns over stability in the region.

Iran’s Parliament Speaker Mohammad Bagher Ghalibaf stated that deep distrust toward the U.S. stems from its repeated pattern of violating agreements. In a statement shared on social media, he highlighted ongoing concerns including Israel’s continued attacks on Lebanon and reports of drones entering Iranian airspace.

Reflecting the cautious mood, the Nifty 50 was trading 1.25 per cent, or 300.25 points lower, at 23,697.10 as of 14:34 on April 9, 2026. Meanwhile, the Sensex declined 1.47 per cent, or 1,141.78 points, to 76,421.12.

Among the major laggards on the Nifty 50 were Jio Financial Services, InterGlobe Aviation, and Larsen & Toubro, which weighed on the broader market.

Market Update at 12:23 PM: Indian equity benchmarks traded higher on Friday, supported by gains in realty, banking, and financial stocks, even as investors remained cautious and focused on ongoing U.S.-Iran tensions.

The Nifty 50 was trading 1.01 per cent, or 240.45 points higher, at 24,015.55, while the Sensex advanced 0.87 per cent, or 663.30 points, to 77,294.95.

Among the Top Gainers in the Nifty 50 index were Asian Paints, Shriram Finance, Eicher Motors, and ICICI Bank, which led the rally across key sectors.

In the broader markets, indices also mirrored the positive sentiment. The Nifty MidCap index was up 0.97 per cent, while the Nifty SmallCap index gained 1.6 per cent.

On the sectoral front, the Nifty Realty index emerged as the top performer. The Nifty PSU Bank and Nifty Media indices also outperformed, indicating strong participation across segments. However, the Nifty IT index was the worst hit among sectoral indices, limiting further upside.

Market Update at 09:35 AM: Indian equity benchmarks opened higher on Friday, tracking gains across global markets, while investors continued to monitor developments around U.S.-Iran tensions.

As of 9:17 AM, the Nifty 50 was trading 0.54 per cent or 131.50 points higher at 23,906, while the Sensex gained 0.47 per cent or 357.85 points to trade at 76,989.50.

The positive momentum was in line with broader strength across the Asia-Pacific region. South Korea’s Kospi led the gains, rising 2.18 per cent. Japan’s Nikkei 225 advanced 1.78 per cent, while Hong Kong’s Hang Seng was up 1.11 per cent.

Overnight, U.S. markets ended on a firm note as investors assessed the fragile ceasefire between the U.S. and Iran. The S&P 500 rose 0.62 per cent, while the Dow Jones Industrial Average gained 0.58 per cent. The Nasdaq Composite outperformed, closing 0.83 per cent higher.

In commodities, Brent crude edged higher on Friday morning, supported by concerns over attacks on Saudi energy infrastructure and ongoing geopolitical uncertainties. The April contract was trading 0.58 per cent higher at USD 96.44 per barrel.

Meanwhile, precious metals saw some pressure, with gold and silver futures declining 0.71 per cent and 1.12 per cent, respectively.

Pre-Market Update at 7:38 AM: Indian benchmark indices, the Sensex and Nifty 50, are likely to open on a positive note on April 10, tracking gains in global markets as investors assess the fragile two-week ceasefire between the U.S. and Iran.

Asian markets traded in the green, while U.S. equities ended higher overnight, supported by optimism around potential peace talks between the two nations. As of 7:14 am, GIFT Nifty hovered around 23,945, up 61 points from the previous close of Nifty futures, indicating a firm start for domestic equities.

Geopolitical tensions remain in focus. Iran’s newly appointed Supreme Leader, Mojtaba Khamenei, stated that the country would not let the U.S. and Israel go unpunished for alleged acts of aggression. Meanwhile, U.S. President Donald Trump has expressed doubts about the effectiveness of the ceasefire, adding uncertainty to the global outlook.

The U.S. economy expanded at an annualized rate of 0.5 per cent, according to the third estimate of GDP, revised down from 0.7 per cent. The initial estimate had pegged growth at 1.4 per cent for the fourth quarter, indicating a notable slowdown.

Inflation in the U.S. rose in line with expectations. The Personal Consumption Expenditures (PCE) price index increased by 0.4 per cent in February, following a 0.3 per cent rise in January. On a year-on-year basis, PCE inflation stood at 2.8 per cent.

Tata Consultancy Services (TCS) concluded FY26 on a strong note with improving sequential growth and robust deal wins. The company reported Q4FY26 revenue of Rs 70,698 crore, marking a 5.4 per cent quarter-on-quarter growth (+1.2 per cent in constant currency). Full-year FY26 revenue stood at Rs 267,021 crore, up 4.6 per cent year-on-year (-2.4 per cent in constant currency terms).

The company’s annualised AI revenue crossed USD 2.3 billion in Q4, reflecting strong traction in emerging technologies. Profitability remained robust, with FY26 operating margin at 25 per cent, up 70 basis points year-on-year, and net margin at 19.8 per cent, up 80 basis points—both at four-year highs.

TCS reported a total contract value (TCV) of USD 40.7 billion for FY26 and USD 12 billion in Q4, supported by three mega deals in the quarter and five during the year. The company also announced a final dividend of Rs 31 per share.

Oil prices remained volatile amid escalating tensions, including attacks on Saudi energy infrastructure and the continued closure of the Strait of Hormuz. Brent crude edged down 0.20 per cent to USD 93.51 per barrel, while U.S. WTI crude rose 0.2 per cent to USD 91.81 per barrel.

From a derivatives standpoint, the Put-Call Ratio (PCR) stands at 0.92. On the Put side, significant open interest is concentrated at the 23,500 and 23,800 strikes, indicating strong support levels. On the Call side, fresh open interest addition was seen between 23,800 and 24,500 strikes, with key resistance levels at 24,000 and 24,200.

The Nifty 50 needs to sustain above 23,833 to regain upward momentum, with potential upside towards the 24,000–24,080 zone. On the downside, immediate support is placed at 23,590, followed by a stronger support range of 23,305–23,320. Unless a breakout occurs above resistance, the index may continue to consolidate within this range.

Sammaan Capital and SAIL remain in the F&O ban list for April 10.

On the institutional front, FIIs remained net sellers for the 27th consecutive session, selling equities worth Rs 1,711.19 crore on April 9, while DIIs bought shares worth Rs 955.90 crore.

Indian markets ended sharply lower in the previous session. The Sensex declined 931.25 points, or 1.20 per cent, to 76,631.65, while the Nifty 50 fell 222.25 points, or 0.93 per cent, to close at 23,775.10.

U.S. markets ended higher, with the Dow Jones rising 0.58 per cent to 48,185.80, the S&P 500 gaining 0.62 per cent to 6,824.66, and the Nasdaq climbing 0.83 per cent to 22,822.42. Among stocks, Nvidia, Amazon, AMD, Apple, and Tesla posted gains, while Microsoft declined.

Gold prices edged lower but were set for a third weekly gain, rising 0.1 per cent to USD 4,773 per ounce, while silver prices increased 0.17 per cent to USD 75.85 per ounce.

Disclaimer: The article is for informational purposes only and not investment advice.

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