Indian equity markets opened sharply higher on Friday, with the Sensex rising over 750 points and the Nifty 50 reclaiming the crucial 24,000 mark, driven by strong buying in banking and financial stocks amid improving global sentiment.
April 10, 2026
At around mid-morning trade, the Sensex was up over 800 points near 77,400 levels, while the Nifty advanced to around 24,000, marking a strong rebound after recent volatility.
The rally was broad-based, with 14 out of 16 sectoral indices trading in the green. Broader markets also participated in the upmove, with mid-cap and small-cap indices gaining close to 1% each, indicating improving risk appetite among investors.
The primary driver of the rally was the financial sector, which holds significant weight in benchmark indices. Financial stocks rose around 1.6% during the session and have gained over 8% for the week, putting the sector on track to snap a six-week losing streak triggered by heavy foreign outflows in March.
Private and PSU banking stocks led the gains, reflecting renewed institutional buying as concerns over liquidity and currency stability eased. The recovery in financials played a crucial role in lifting the broader indices.
However, the upside remained partially capped by weakness in the IT sector. The Nifty IT index declined around 1.5%, dragged by a nearly 2% fall in Tata Consultancy Services (TCS), despite the company reporting a 9.7% rise in revenue and a 12.2% increase in net profit for the March quarter. Analysts pointed to lingering macro uncertainties and cautious demand outlook in key global markets as reasons for the muted reaction.
Several global and macro factors contributed to the positive sentiment in domestic markets. Hopes of a temporary ceasefire between the United States and Iran have eased geopolitical concerns, which had previously triggered volatility across asset classes.
Crude oil prices also remained below the $100 per barrel mark, providing relief to import-dependent economies like India. Lower oil prices are seen as supportive for inflation, corporate margins and overall economic stability.
In addition, global markets traded higher, with gains across major Asian indices and a positive trend on Wall Street, further boosting investor confidence.
The Indian rupee also strengthened marginally, trading around 92.41 against the U.S. dollar, which helped reduce pressure from foreign outflows and improved overall market sentiment.
The current rally comes after a period of sustained weakness in Indian equities, where benchmarks had declined sharply amid geopolitical tensions, rising oil prices and foreign capital outflows. With improving global cues and stabilising macro indicators, markets now appear to be attempting a recovery phase.
Market participants remain cautious, however, as sentiment continues to be influenced by geopolitical developments and commodity price movements. The outcome of ongoing global negotiations and trends in crude oil prices are expected to play a key role in determining the near-term direction of markets.
Kaashika is a social media strategist and financial content creator at Lakshmishree. She specialises in simplifying complex IPO and stock market concepts into clear, easy-to-understand content. Having created over 500+ pieces of financial content across reels, blogs, website posts and digital creatives, Kaashika helps audiences connect with the world of finance in a more accessible and engaging way.
