The Indian stock market made a strong start on Friday (April 10), with both the Sensex and Nifty rising by around 1%. By 9:58 am, the S&P BSE Sensex was up 687.99 points at 77,319.64, while the NSE Nifty50 was trading 211.60 points higher at 23,986.70. This rise has come after a huge fall in the last trading session, when on April 9, the Sensex fell 931.25 points and the Nifty closed at 23,775.10.
1. Support received from global signals
The effect of strength in Asian markets was also visible on the Indian market. Japan’s Nikkei and South Korea’s Kospi rose by 1-2%, which increased investor confidence. However, investors are still keeping an eye on US-Iran peace talks and Israel-Lebanon tensions.
Dr VK Vijayakumar, Chief Investment Strategist, Geojit Investments Ltd, said, “The market will wait for the outcome of the peace talks between the US and Iran to be held on Saturday. The outcome of the peace talks will decide the trend of crude oil prices, which in turn will decide the market trend.”
He further said, “If talks reduce fighting and crude oil prices go down, then markets, especially markets like India that are dependent on energy imports, will bounce back up. If peace talks fail and crude oil prices go up further, the opposite will happen.”
2. Crude oil prices below $100
The market got major support as crude oil prices remained below $100 per barrel. Brent crude was trading at around $96.16 per barrel and WTI at around $97.81. Low oil prices provide relief to an import-dependent country like India, which reduces inflationary pressure and has a positive impact on the profits of companies.
3. Strong buying in banking and financial stocks
The biggest contribution to today’s rise was from the banking and financial sector. The Nifty Financial Services index rose nearly 1.6% and is on track to break a six-week losing streak with a gain of 8.2% so far this week. Asian Paints was up by 3.33%, ICICI Bank by 3.35% and Axis Bank by 2.40%. Mahindra & Mahindra, Bajaj Finserv and Bajaj Finance were also among the gainers.
Buying was also seen in big stocks like SBI, Kotak Mahindra Bank and Power Grid.
While on one hand the market remained bullish, on the other hand the IT sector appeared to be under pressure. The Nifty IT index fell about 1.5%. Major stocks like TCS and Infosys fell up to 3%, while HCLTech and Tech Mahindra also declined.
This weakness came after TCS’s quarterly results, where despite good numbers, investors took a cautious stance on the future of the sector.
according to experts, It seems that FPIs are determined to sell in India and invest in other markets like South Korea and Taiwan, where earnings growth prospects in 2026 are much better. However, this would be a short-term approach. It’s important to note that many stocks are hitting 52-week highs, even all-time highs. Fundamentally strong growth stocks will do well even in weak market conditions.
At present, the market is getting support from global cues, low oil prices and buying in banking stocks. However, the way forward will largely depend on US-Iran talks and crude oil prices. Disparity remains at the sector level, with IT being under pressure while other sectors are showing strength.
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