NEW DELHI, July 10: Indian equity markets staged a strong recovery on Friday, with the benchmark Sensex jumping nearly 828 points as investors increased buying across banking, real estate and technology stocks.
The BSE Sensex climbed 827.57 points, or 1.08 per cent, to close at 77,569.39, while the NSE Nifty50 advanced 244.10 points, or 1.02 per cent, to finish at 24,206.90. The rally came amid favourable global market signals and growing optimism surrounding corporate earnings for the June quarter.
Buying was broad-based, with both mid-cap and small-cap shares outperforming the major benchmarks. The Nifty MidCap 100 gained 1.40 per cent, while the Nifty SmallCap 100 rose 1.55 per cent during the session.
Investor sentiment also improved as market volatility eased. India VIX, which measures expected market volatility, declined 8.30 per cent, indicating reduced near-term nervousness among traders.
Large companies contributed significantly to the advance. Reliance Industries gained around 2 per cent, while banking and information technology stocks also attracted strong buying interest. Jio Financial Services, HDFC Life Insurance and SBI Life Insurance were among the prominent Nifty gainers.
The domestic recovery followed a positive performance in global equities, particularly technology and semiconductor stocks. The improved international environment provided additional support to Indian shares after recent market weakness.
The rupee also showed modest strength against the US dollar. It opened at around Rs 95.29 per dollar, compared with the previous session’s close of Rs 95.39.
Market participants are now turning their attention to the upcoming corporate earnings season. Expectations of relatively resilient June-quarter results have helped support demand for equities, particularly in sectors where companies are expected to demonstrate stable growth.
The latest gains underline the continuing influence of global cues, earnings expectations and domestic institutional participation on Indian markets. However, investors remain watchful of crude oil prices, geopolitical developments and foreign fund flows for further direction.