Nifty Snaps 2-Day Losing Streak, Realty Index Surges 3.5% Despite Middle East Tensions

The Nifty 50 and Sensex ended higher on Thursday, July 9, as investors engaged in bargain buying following the previous session's sharp decline driven by renewed tensions in the Middle East. However, persistent concerns over the geopolitical situation limited the overall upside.

The benchmark Nifty 50 opened 47 points higher and extended its gains after the gap-up start, reclaiming the 24,000 level during the session. However, late-session profit booking erased part of the gains, pulling the index below the key psychological mark before the close.

By the end of the session, the Nifty 50 settled at 23,962.80, up 80.75 points or 0.34 per cent, snapping its two-day losing streak. The Sensex also finished in positive territory, rising 238.22 points or 0.31 per cent to close at 76,741.82. Meanwhile, the Bank Nifty advanced 0.90 per cent to end at the 57,252 mark, while India VIX declined 9 per cent to slip below the 14 level.

Middle East Tensions Escalate

The US launched fresh strikes on Iran on Wednesday to keep the Strait of Hormuz open, hours after President Donald Trump said an interim peace agreement was "over". The escalation pushed crude oil prices higher, with Brent crude nearing USD 79 per barrel.

Crude Surge Hits Market Sentiment

Brent climbed toward USD 79 per barrel before trading on Thursday and was up nearly 10 per cent for the week, after the US military confirmed it had carried out strikes on Iran for a second straight day, intensifying tensions and fueling concerns over energy supplies from the Middle East. The US said the attacks were intended to reduce Iran’s ability to threaten navigation through the Strait of Hormuz, while Tehran vowed a large-scale retaliatory campaign against US military bases across the region. As of 3:00 pm, Brent Crude futures were trading at USD 76 per barrel.

Focus Shifts to Key Triggers

Investors will now monitor developments in the US-Iran conflict, crude oil prices, June-quarter earnings and the monsoon for further market direction.

Nifty Realty Jumps Over 3.5 per cent

On the sectoral front, 9 out of 11 key sectoral indices ended in positive territory. Meanwhile, in the broader market, the Nifty Midcap 100 index surged by 1.38 per cent, while the Nifty Smallcap 100 index ended higher by 1.80 per cent, recovering yesterday’s losses. 

The Nifty Realty index emerged as the top sectoral gainer, surging 3.54 per cent, all of its constituents ending in green. 

Conversely, the Nifty IT index was the top sectoral drag, sliding 0.3 per cent, weighed down by Infosys. The index extended previous losses to the 2nd consecutive trading session.

Stock-Specific Highlights: TCS, Coforge and Dr Reddy Laboratories Remain in Focus

Among individual stocks,

• The country's largest software exporter, Tata Consultancy Services, shed 0.39 per cent ahead of June-quarter earnings, due after market hours.
• Coforge shares rose over 1.57 per cent to top Nifty IT after launching AI-powered SecureEdge2Cloud cybersecurity platform.
• Dr Reddy Laboratories fell over 5.89 per cent after a semaglutide supply delay.

 Nifty 50: Top Pullers and Draggers of the Day

The key drivers of the index gains were:

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

On the other hand, these stocks weighed on the index:

• Infosys: -14.18 points
• Dr. Reddy's Laboratories: -10.65 points
• Axis Bank: -7.47 points
  
  Market Breadth on July 9

As of July 9, 2026, the market breadth was in favour of advancing stocks. Out of 3,414 stocks traded on the NSE, 2,522 advanced, 780 declined and 112 remained unchanged. 

A total of 82 stocks touched their 52-week highs, while 47 stocks hit their 52-week lows. Additionally, 130 stocks were locked in their Upper Circuits, whereas 70 stocks were locked in Lower Circuits.

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