Markets Rally on Global Cues, Banking and Auto Stocks Lead Gains, Sensex Surges 919 Pts

Last Updated on April 10, 2026 9:40 pm by INDIAN AWAAZ

By Our Business Correspondent

India’s benchmark equity indices ended sharply higher on Friday, supported by improving global risk sentiment, softer crude oil prices and gains across international markets. Optimism over a possible ceasefire between the United States and Iran, along with oil prices easing below the $100 mark and a strengthening rupee, helped lift investor confidence during the session.

The Nifty 50 closed at 24,050.60, advancing 275.50 points or 1.16 per cent, while the S&P BSE Sensex surged 918.60 points, or 1.20 per cent, to settle at 77,550.25. Gains were largely driven by strong buying in banking and automobile stocks, although weakness in information technology shares capped the market’s upside to some extent.

Among the major contributors to the rally were ICICI Bank, which climbed 3.22 per cent, HDFC Bank with a 1.65 per cent gain, and Reliance Industries, which added 1.56 per cent. Despite the strong close, investors remained cautious ahead of the upcoming fourth-quarter earnings season, which is expected to provide further direction to the market.

Broader markets outperformed the frontline indices, indicating strong participation across segments. The BSE MidCap Index rose 1.71 per cent while the BSE SmallCap Index gained 1.60 per cent. Market breadth remained firmly positive, with 3,360 stocks advancing against 945 declines on the BSE, while 151 shares remained unchanged.

Volatility also eased during the session. The India VIX, often referred to as the market’s “fear gauge”, fell 7.72 per cent to 18.85, reflecting improved investor sentiment.

In the bond market, the yield on India’s 10-year benchmark government security slipped to 6.929 per cent from 6.958 per cent in the previous session. In currency trade, however, the rupee edged slightly weaker against the US dollar, hovering around 92.69 compared with the previous close of 92.51.

Commodity markets presented a mixed picture. Gold futures on the Multi Commodity Exchange for June 2026 delivery slipped 0.66 per cent to ₹1,52,420, while Brent crude oil for June settlement rose modestly by 0.64 per cent to $96.53 a barrel.

Global markets also provided supportive cues. Equity markets across Europe and Asia advanced in line with gains on Wall Street, where US indices extended their rally for a seventh consecutive session amid diplomatic signals that Israel may explore ceasefire discussions with Lebanon.

However, geopolitical tensions continue to cloud the outlook. Shipping through the Strait of Hormuz remains severely disrupted, operating at less than 10 per cent of normal levels, raising concerns about global energy supply as the route carries nearly one-fifth of the world’s oil shipments.

Among stocks in focus, Wipro rose 0.96 per cent after announcing that its board will consider a share buyback along with fourth-quarter results on April 16. Eicher Motors gained 3.87 per cent after unveiling its first electric motorcycle, the Flying Flea C6.

Infrastructure and engineering stocks also saw strong action. Power Mech Projects surged 8.49 per cent after securing a ₹296-crore operations and maintenance contract for the Mumbai Monorail network.

Real estate major Godrej Properties edged higher after reporting a 16 per cent rise in booking value for FY26, while Prestige Estates Projects announced a joint venture with ABIL Group for a premium residential project in Mumbai with a potential development value exceeding ₹9,000 crore.

Other notable gainers included IRB Infrastructure Developers, which rallied after reporting a sharp jump in toll revenues, and RailTel Corporation of India, which secured a ₹23.18-crore technology contract.

Market participants are now expected to closely track the upcoming corporate earnings announcements and global geopolitical developments, both of which could influence investor sentiment in the coming weeks.