Indian shares rose sharply on Friday, July 10, helping benchmark indices trim their weekly losses, as softer crude prices and a weaker dollar aided sentiment, while TCS's better-than-expected results lifted IT stocks.
Key Highlights
- Sensex gained 827 points to 77,569.39, while Nifty closed at 24,206.90 on July 10.
- TCS's better-than-expected results lifted IT stocks, with the Nifty IT index rising 2%.
The Sensex ended 827.57 points, or 1.08%, higher at 77,569.39, while the Nifty 50 closed 244.10 points, or 1.02%, up at 24,206.90. Despite Friday's gains, the benchmark indices snapped a four-week winning run - their longest streak in 2026 so far.
IT Stocks Lead the Rally on TCS Earnings Boost
The Nifty IT index rose 2% on Friday, led by TCS, which gained 1% after a quarterly revenue beat and rising AI-linked sales boosted hopes of a broader sector recovery. Metals also gained 1.5%, tracking a softer dollar and firm global prices amid ongoing geopolitical uncertainty.
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Brent crude edged down to $76, extending Thursday's 2.2% fall, but was still set for a weekly gain after US-Iran strikes and US President Donald Trump's comment that the temporary peace deal with Iran was "over."
Nine of 16 major sectors logged weekly losses, even as Friday's session ended positive. The broader stock market outperformed, with mid-caps rising 1.4% and small-caps gaining 1.3%.
