Why Is Stock Market Rising Today, July 10, 2026?

Indian equity markets extended their rally on Friday even as geopolitical tensions between the US and Iran remained elevated. The Sensex and Nifty were driven higher by IT stocks after Tata Consultancy Services reported better than expected June quarter earnings, while easing crude oil prices helped improve overall investor sentiment.

Sensex, Nifty Gains In Early Trade

Around 10 am, the BSE Sensex was trading 800.61 points, or 1.04 percent, higher at 77,542.43. The NSE Nifty50 gained 247.80 points, or 1.03 percent, to reach 24,210.60.

IT Stocks Lead The Rally

The strongest support for the market came from IT stocks after TCS kicked off the June quarter earnings season with numbers that beat Street expectations. The Nifty IT index jumped over 3 percent, making it the best performing sector in early trade. Reliance Industries Stock Update: Shares Jump 1.35% on Brokerage Calls.

Tech Mahindra surged 3.64 percent, TCS climbed 3.48 percent, HCLTech gained 3.43 percent and Infosys rose 3.42 percent. L&T Technology Services, Coforge and other IT shares also traded sharply higher.

TCS reported a 5 percent year on year rise in consolidated net profit to INR 13,349 crore for the June quarter, with revenue increasing nearly 14 percent to INR 72,275 crore. The company's board also announced an interim dividend of INR 12 per share. Tata Consultancy Services Stock Update: Shares Rally 2% on Strong Q1 Results, AI Deals.

TCS also posted a strong order book of 9.5 billion dollars during the quarter, including several AI led deals, with its annualised AI revenue run rate rising to 2.6 billion dollars. The company added 9,279 employees in the quarter, its highest quarterly hiring in more than a year, a signal of confidence in future demand.

TCS CEO K Krithivasan said he expects technology spending by manufacturing and life sciences clients to improve in the September quarter, adding that the company does not see AI causing a major contraction in business and believes new AI opportunities will offset any disruption.

Crude Oil Prices Offer Relief Despite Middle East Tensions

Crude oil prices remained well below the levels investors had feared despite renewed military escalation between the US and Iran. Brent crude was trading around 76.52 dollars a barrel, while WTI crude stood at 72.29 dollars.

Since oil prices have not surged past the 80 to 100 dollar range that could significantly hurt India's economy, investors were able to look past geopolitical worries. A sharp spike in crude typically raises India's import bill, fuels inflation and pressures corporate earnings, so its absence has been a key relief factor.

Dr VK Vijayakumar, Chief Investment Strategist at Geojit Investments, said markets appear to be largely ignoring the latest developments in West Asia even as tensions continue without a clear resolution in sight. He noted that Brent crude declined 3 percent in a day and global markets have largely brushed aside the renewed tensions, calling it a confident signal from the market while still urging investor caution. He added that there are no major domestic headwinds and markets are likely to respond positively to favourable corporate earnings.

Broad Based Buying Across Sectors

The rally extended well beyond IT stocks, with 15 of the 16 sectoral indices trading in the green. Nifty Financial Services rose 0.94 percent, Nifty Private Bank gained 0.90 percent and Nifty PSU Bank climbed 0.87 percent, while Auto, FMCG, Media and Realty indices also advanced.

Broader markets joined the move, with the Nifty Midcap 100 rising 0.80 percent and the Nifty Smallcap 100 gaining 0.84 percent. India VIX, the market's fear gauge, declined over 5 percent, pointing to easing volatility.

Among Sensex stocks, ICICI Bank, Axis Bank, HDFC Bank, Reliance Industries, Mahindra & Mahindra, Tata Steel and Adani Ports also traded higher alongside the IT pack.

What This Means Going Forward

Friday's rebound suggests investors remain willing to buy quality stocks after Thursday's sharp correction. Markets are likely to stay sensitive to two key factors in the near term, developments in the US-Iran conflict and the ongoing June quarter earnings season.

TCS has set a positive tone for the IT sector, but earnings from other large companies in the coming weeks will determine whether the broader market recovery can be sustained.

(The above story first appeared on LatestLY on Jul 10, 2026 10:44 AM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).