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Informist, Thursday, Jul. 9, 2026

 

By Arundathi A R

 

MUMBAI – Sentiment in the domestic equity market was positive on Thursday despite the fresh escalation in the US-Iran war, with benchmark indices closing higher after falling for the past two sessions. Investors found some buying interest at lower levels after the market fell on Wednesday on US President Trump's announcement of end end to the ceasefire, analysts said. Benchmark indices came off highs to settle marginally higher as the September futures contract of Brent Crude oil gave up its gains and slipped into the red.

 

The US and Iran exchanged a fresh round of attacks overnight. "The American military said it hit around 90 targets in airstrikes across Iran, hours after President Donald Trump said he considered the tenuous ceasefire between the two countries over following Iranian attacks on shipping in the Strait of Hormuz," CNBC News reported. Multiple explosions were heard in cities across Iran's south, and its foreign ministry denounced the strikes as a "gross war crime," saying these targeted civilian infrastructure including two railway bridges, the report said, citing Iranian state media.

 

Crude oil prices below the $80 a barrel level helped improve foreign investment inflows. This, in turn, helped the indices close higher. On Thursday, the Nifty 50 closed 0.3% higher at 23962.80, up 80.75 points from the previous close. The BSE Sensex also ended 0.3% higher at 76741.82, up 238.22 points from Wednesday's close. The 50-stock index is some 32 points below the psychologically crucial 24000 level.

 

"From a technical perspective, the intensity of the decline (on Wednesday) led the Nifty (50) to slip below the crucial 24000 mark, a level that was significant both technically and psychologically," Sundar Kewat, technical and derivatives analyst at Ashika Institutional Equity Research, said. "However, the index managed to find support around the 23800 zone, indicating buying interest at lower levels. With this move, the immediate support levels have shifted lower to 23800 and 23500. As long as the Nifty holds above 23800, the broader trend remains constructive, and any decline towards this level could present a buying opportunity."

 

At 1459 IST, the September futures contract of crude oil was 0.7% lower at $77.46 a barrel. Oil prices are currently over 6% higher than pre-war levels. However, crude oil futures gained over 7% in a week. On Wednesday, foreign institutional investors net bought shares worth INR 19.63 billion, while domestic investors net bought shares worth INR 7.90 billion. Foreign investors turned net buyers after four straight months of selling.

 

All broader market indices outperformed their benchmark peers, with small-cap indices ending almost 2% higher each, while mid-cap indices ended over 1% higher each. Barring the Nifty IT and Nifty Auto, all sectoral indices were higher during the session. The Nifty Realty was the highest gainer, up nearly 4%. The Nifty Media, Nifty PSU Bank, and Nifty Consumer Durables gained around 2?ch.

 

Among individual stocks, Sun Pharmaceutical Industries was the top gainer, up nearly 3%. An over 2% gain in index heavyweight Bharti Airtel also supported the Nifty 50 index. Banking and financial services stocks Kotak Mahindra Bank, Bajaj Finserv, SBI Life Insurance, Shriram Finance, and Jio Financial Services were up 1.5–2.2%.

 

Quick-commerce companies also gained substantially, with Eternal rising 2%. Its peer Swiggy was the second-biggest gainer in the Nifty 200, up over 7%.

 

Kalyan Jewellers ended as the top gainer in both Nifty 200 and Nifty 500 indices, over 18% higher. Global brokerage Citigrop maintained its bullish stance on the stock and expects it to double from levels before the recent rally.

 

Lodha Developers gained almost 7% in the Nifty 200 index, while Brigade Enterprises rose over 6%. Anant Raj, DLF, and Aditya Birla Real Estate were up around 4?ch.

 

Dixon Technologies (India) gained over 4% on the Nifty 200 after the government exempted basic customs duty on several manufacturing goods used in key components of electronic devices until Mar. 31, 2029.

 

Dr. Reddy's Laboratories was the key laggard in the Nifty 50 index, down almost 6%. The stock fell after the company said it found an issue associated with an active pharmaceutical ingredient used in its generic semaglutide product. Consequently, commercial supplies of the popular diabetes management drug will be delayed.

 

Even though most information technology stocks closed higher, the Nifty IT ended as the biggest loser with a marginal loss. Infosys ended nearly 2% lower, while Tata Consultancy Services closed marginally lower ahead of its June quarter earnings. Post market hours, TCS announced its Apr-Jun results, reporting a consolidated net profit of INR 133.49 billion, slightly below the Street's estimate of INR 134.03 billion. The IT major's consolidated revenues for the quarter stood at INR 722.75 billion, higher than the expectation of INR 718.05 billion.

 

* Of the Nifty 50 stocks, 30 rose, 20 fell

* Of the Sensex stocks, 17 rose, 13 fell

* On the NSE, 2,522 stocks rose, 780 fell, and 112 were unchanged

* On the BSE, 2,896 stocks rose, 1,342 fell, and 190 were unchanged
* Nifty Realty: up 3.5%; Nifty Media: up 2.1%; Nifty IT: down 0.3%

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BSE                                           NSE

Sensex: 76741.82, up 238.22 points, or 0.3%   Nifty 50: 23962.80, up 80.75 points, or 0.3%

 

S&P BSE Sensitive Index	Nifty 50
Lifetime High: 86159.02 (Dec. 1, 2025)	: Lifetime High: 26373.20 (Jan. 5, 2026)
Record Close High: 85836.12 (Sept. 26, 2024)	: Record Close High: 26328.55 (Jan. 2, 2026)
2026 1st day close: 85188.60 (Jan. 1)	: 2026 1st day close: 26146.55 (Jan. 1)
2026 Closing High: 85762.01 (Jan. 2)	: 2026 Closing High: 26328.55 (Jan. 2)
2026 Closing Low: 71947.55 (Mar. 30)	: 2026 Closing Low: 22331.40 (Mar. 30)
2026 High (intraday): 85883.50 (Jan. 5)	: 2026 High (intraday): 26373.20 (Jan. 5)
2026 Low (intraday): 71545.81 (Apr. 1)	: 2026 Low (intraday): 22182.55 (Apr.2)
2025 1st day close: 78507.41 (Jan. 1)	: 2025 1st day close: 23742.90 (Jan. 1)
2025 Closing High: 85720.38 (Nov. 27)	: 2025 Closing High: 26215.55 (Nov. 27)
2025 Closing Low: 72989.93 (Mar. 4)	: 2025 Closing Low: 22082.65 (Mar. 4)
2025 High (intraday): 86159.02 (Dec. 1)	: 2025 High (intraday): 26325.80 (Dec.1)
2025 Low (intraday): 71425.01 (Apr. 7)	: 2025 Low (intraday): 21743.65 (Apr. 7)
2024 1st day close: 72271.94 (Jan. 1)	: 2024 1st day close: 21741.90 (Jan. 1)
2024 Closing High: 85836.12 (Sept. 26)	: 2024 Closing High: 26216.05 (Sept. 26)
2024 Closing Low: 70370.55 (Jan. 23)	: 2024 Closing Low: 21238.80 (Jan. 23)
2024 High (intraday): 85978.25 (Sep. 27)	: 2024 High (intraday): 26277.35 (Sept. 27)
2024 Low (intraday): 70001.60 (Jan. 24)	: 2024 Low (intraday): 21137.20 (Jan. 24)
2023 1st day close: 61167.79 (Jan. 2)	: 2023 1st day close: 18197.45 (Jan. 2)
2023 Closing High: 72410.38 (Dec. 28)	: 2023 Closing High: 21778.70 (Dec. 28)
2023 Closing Low: 59288.35 (Feb. 27)	: 2023 Closing Low: 17311.80 (Oct. 17)
2023 High (intraday): 72484.34 (Dec. 28)	: 2023 High (intraday): 21801.45 (Dec. 28)
2023 Low (intraday): 58699.20 (Jan. 30)	: 2023 Low (intraday): 17098.55 (Jan. 17)
2022 1st day close: 59183.22 (Jan. 3)	: 2022 1st day close: 17625.70 (Jan. 3)
2022 Closing High: 63284.19 (Dec. 1)	: 2022 Closing High: 18812.50 (Dec. 1)
2022 Closing Low: 51360.42 (Jun. 17)	: 2022 Closing Low: 15293.50 (Jun. 17)
2022 High (intraday): 63583.07 (Dec. 1)	: 2022 High (intraday): 18887.60 (Dec. 1)
2022 Low (intraday): 50921.22 (Jun. 17)	: 2022 Low (intraday): 15183.40 (Jun. 17)
2021 Closing High: 61305.95 (Oct. 14)	: 2021 Closing High: 18338.55 (Oct. 14)
2021 Closing Low: 46285.77 (Jan. 29)	: 2021 Closing Low: 13634.60 (Jan. 29)
2021 High (intraday): 61353.25 (Oct. 14)	: 2021 High (intraday): 18350.75 (Oct. 14)
2021 Low (intraday): 46160.46 (Jan. 29)	: 2021 Low (intraday): 13596.75 (Jan. 29)
2020 Closing High: 47751.33 (Dec. 31)	: 2020 Closing High: 13981.95 (Dec. 30)
2020 Closing Low: 25981.24 (Mar. 23)	: 2020 Closing Low: 7610.25 (Mar. 23)
2020 High (intraday): 47896.97 (Dec. 31)	: 2020 High (intraday): 14024.85 (Dec. 31)
2020 Low (intraday): 25638.90 (Mar. 24)	: 2020 Low (intraday): 7511.10 (Mar. 24)
2019 High (intraday): 41809.96 (Dec. 20)	: 2019 High (intraday): 12293.90 (Dec. 20)
2019 Low (intraday): 35287.16 (Feb. 19)	: 2019 Low (intraday): 10583.65 (Jan. 29)
2018 High (intraday): 38938.91(Aug. 28))	: 2018 High(intraday): 11760.20 (Aug. 28)
2018 Low (intraday): 32483.8 (Mar. 23)	: 2018 Low (intraday): 9951.9 (Mar. 23)
2017 High (intraday): 34005.37 (Dec. 26)	: 2017 High(intraday): 10515.10 (Dec. 26)

 

End

 

US$1 = INR 95.3875

IST, or Indian Standard Time, is five-and-a-half hours ahead of GMT

 

Edited by Avishek Dutta

 

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