Sensex, Nifty, Nifty Bank rally: Why is stock market up today — what's behind the surge
Gains in index heavyweights such as ICICI Bank Ltd, HDFC Bank Ltd, Reliance Industries Ltd (RIL), Axis Bank Ltd, Mahindra & Mahindra Ltd (M&M), Larsen & Toubro Ltd (L&T), State Bank of India (SBI), Bajaj Finance, Kotak Mahindra Bank and Asian Paints helped benchmarks recover from yesterday's drop.
- Apr 10, 2026,
- Updated Apr 10, 2026 12:06 PM IST
Indian equity benchmarks traded in positive territory during late afternoon deals on Friday, rebounding after a brief one-day pause. At last check, the 30-share BSE Sensex pack was up 677.31 points or 0.88 per cent at 77,308.96, while the NSE Nifty index gained 207.45 points, or 0.87 per cent, to trade at 23,982.20.
Gains in index heavyweights such as ICICI Bank Ltd, HDFC Bank Ltd, Reliance Industries Ltd (RIL), Axis Bank Ltd, Mahindra & Mahindra Ltd (M&M), Larsen & Toubro Ltd (L&T), State Bank of India (SBI), Bajaj Finance, Kotak Mahindra Bank and Asian Paints helped benchmarks recover from yesterday's drop.
On the sectoral front, buying interest was visible across banking, financials, automobile, consumer, oil & gas, media and realty stocks. Nifty Bank and Nifty Financial Services rose 1.70 per cent and 1.88 per cent, respectively. Nifty Auto, Nifty Realty and Nifty Media gained 2.02 per cent, 2.01 per cent and 2.70 per cent, in that order.
However, information technology (IT) and pharma stocks lagged the broader market and traded in negative territory.
The broader market also showed strength, with Nifty Midcap 100 rising 0.96 per cent and Nifty Smallcap 100 advancing 1.45 per cent.
Sebi-registered analyst Mitesh Panchal said, "It seems while looking at the market that we may have formed a bottom or are in the process of forming it for the next bull run. We are getting comfort in three segments where we feel that the bottom is in place, which are Nifty Realty, Nifty Metal and Nifty Energy. These three sub-indices are giving us comfort that going forward, we will see a marathon run in the next 3-4 years."
Separately, VK Vijayakumar, Chief Investment Strategist at Geojit Investments, noted, "The market will wait to see the outcome of the peace talks between US and Iran scheduled for Saturday. The outcome of the peace talks will determine the trend in crude prices, which, in turn, will dictate market trends. If the talks lead to de-escalation in the conflict and drive crude price down, the markets, particularly markets like India which are energy import-dependent, will bounce back. The reverse will happen if the peace talks fail and crude spikes further."
He added that a major drag on the market could be continued foreign portfolio investor (FPI) selling. "It appears that FPIs are determined to sell in India and move money to other markets like South Korea and Taiwan, where the earnings growth prospects are much superior in 2026. However, this will be a short-term view."
"It is important to note that many stocks are hitting 52-week highs, even all-time highs, even in this challenging market environment. Investors can look at these stocks and analyse the reasons behind the resilience of such stocks. Fundamentally sound growth stocks will do well even during weak market conditions," Vijayakumar further stated.
Indian equity benchmarks traded in positive territory during late afternoon deals on Friday, rebounding after a brief one-day pause. At last check, the 30-share BSE Sensex pack was up 677.31 points or 0.88 per cent at 77,308.96, while the NSE Nifty index gained 207.45 points, or 0.87 per cent, to trade at 23,982.20.
Gains in index heavyweights such as ICICI Bank Ltd, HDFC Bank Ltd, Reliance Industries Ltd (RIL), Axis Bank Ltd, Mahindra & Mahindra Ltd (M&M), Larsen & Toubro Ltd (L&T), State Bank of India (SBI), Bajaj Finance, Kotak Mahindra Bank and Asian Paints helped benchmarks recover from yesterday's drop.
On the sectoral front, buying interest was visible across banking, financials, automobile, consumer, oil & gas, media and realty stocks. Nifty Bank and Nifty Financial Services rose 1.70 per cent and 1.88 per cent, respectively. Nifty Auto, Nifty Realty and Nifty Media gained 2.02 per cent, 2.01 per cent and 2.70 per cent, in that order.
However, information technology (IT) and pharma stocks lagged the broader market and traded in negative territory.
The broader market also showed strength, with Nifty Midcap 100 rising 0.96 per cent and Nifty Smallcap 100 advancing 1.45 per cent.
Sebi-registered analyst Mitesh Panchal said, "It seems while looking at the market that we may have formed a bottom or are in the process of forming it for the next bull run. We are getting comfort in three segments where we feel that the bottom is in place, which are Nifty Realty, Nifty Metal and Nifty Energy. These three sub-indices are giving us comfort that going forward, we will see a marathon run in the next 3-4 years."
Separately, VK Vijayakumar, Chief Investment Strategist at Geojit Investments, noted, "The market will wait to see the outcome of the peace talks between US and Iran scheduled for Saturday. The outcome of the peace talks will determine the trend in crude prices, which, in turn, will dictate market trends. If the talks lead to de-escalation in the conflict and drive crude price down, the markets, particularly markets like India which are energy import-dependent, will bounce back. The reverse will happen if the peace talks fail and crude spikes further."
He added that a major drag on the market could be continued foreign portfolio investor (FPI) selling. "It appears that FPIs are determined to sell in India and move money to other markets like South Korea and Taiwan, where the earnings growth prospects are much superior in 2026. However, this will be a short-term view."
"It is important to note that many stocks are hitting 52-week highs, even all-time highs, even in this challenging market environment. Investors can look at these stocks and analyse the reasons behind the resilience of such stocks. Fundamentally sound growth stocks will do well even during weak market conditions," Vijayakumar further stated.