Sensex Today Rallies 828 Points Higher | Nifty Above 24,200 | 5 Reasons Why Indian Share Markets Are Falling

Fri, 10 Jul Closing

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Although the benchmark indices opened lower, they traded negative throughout the session and ultimately closed red.

Indian equity benchmarks indices, Sensex and Nifty50 extended their rally as PSU bank and realty shares supported. A sharp rise in global equities due to a rebound in chip stocks also supported the domestic indices.

At the closing bell, the BSE Sensex  closed points 828 higher (up 1%)

Meanwhile, the NSE Nifty closed 244 points higher (up 1%)

You can also visit our live blog section for real-time updates and deeper insights into the market.

Bharat Elec, Tech Mahindra, Tata Steel were the top gainers today.

Eternal, Bharti Airtel, Sun Pharma on the other hand, were among the top losers today.

The GIFT Nifty was trading at 23,239 with 244 points higher at the time of writing.

The BSE 150 Midcap index is trading 1.4% higher and the BSE 250 SmallCap index is trading 1.2% higher.

Sectoral indices were trading positive today with realty sector and IT sector witnessed buying.

Now track the biggest movers of the stock market using stocks to watch today section. This should help you keep updated with the latest developments...

The rupee is trading at Rs 95.3 against the US$.

Gold prices for the latest contract on MCX are trading 0.7% lower at Rs 1,44,276 per 10 grams.

Meanwhile, silver prices were trading 1.4% lower at 2,23,058 per 1 kg.

5 reasons why Indian share markets are falling:

#1 Buying in IT shares:

IT stocks witnessed strong buying interest, with the IT index rising nearly 3% after TCS shares gained over 3%. Investor sentiment improved after TCS reported strong June-quarter results and indicated expectations of a gradual recovery in demand. The positive outlook boosted confidence across the IT sector.

#2 Hopes of US-Iran resolution:

Market sentiment improved after the US said it remained committed to resolving issues with Iran through ongoing talks. The possibility of reducing tensions in the Middle East eased concerns of a wider conflict. This supported investor confidence and improved market sentiment.

#3 Strong global cues:

Indian markets gained support from positive trends across global markets. Asian indices, including South Korea's Kospi, Japan's Nikkei, Shanghai Composite, and Hong Kong's Hang Seng, traded higher, while US markets also ended with gains. Positive global sentiment supported domestic equities.

#4 Decline in crude oil prices:

Crude oil prices declined, with Brent crude trading around USD 76.55 per barrel. Lower oil prices benefit India as it imports a major share of its crude requirements. Reduced oil costs help lower import expenses, ease inflation pressure, and support economic growth.

#5 Rise in rupee:

The Indian rupee strengthened by 15 paise to 95.32 against the US dollar, supported by positive movement in domestic equities. Although foreign investor outflows and global uncertainties continued to weigh on the currency, strong market sentiment provided support. A stronger rupee helps reduce import costs.

Speaking of stock markets, Tanushree Banerjee, Research Analyst at Equitymaster, highlights that tollbooth monopoly stocks are facing rising regulatory risks that could weaken their strong moats.

She notes that changes like market coupling are challenging platforms such as IEX. The main risk is not earnings, but valuation de-rating due to reduced pricing power.

Watch the video below to know more.

Muthoot Microfin Q1 Business Update

Shares of Muthoot Microfin came into focus after the company reported its Q1 business update.

Muthoot Microfin reported a strong business update for the first quarter of FY27, driven by healthy loan growth and higher disbursements.

The company's assets under management (AUM) increased 18% year-on-year and 3% quarter-on-quarter to Rs 144.57 billion as of June 30, 2026. The growth was supported by an expanding loan book and steady demand for loans.

Loan disbursements jumped 49% year-on-year to Rs 26.45 billion during the quarter. The increase was driven by strong demand for individual loans and the start of gold loan disbursements through its co-lending partnership with Muthoot Fincorp.

The company also continued to diversify its loan portfolio. The share of Joint Liability Group (JLG) loans declined to 76% from 83% in March 2026, while non-JLG loans increased to 24%. Meanwhile, the individual loan portfolio grew to Rs 32.14 billion, reflecting the company's focus on expanding beyond traditional microfinance lending.

MRPL Climbs After ONGC's Strategic Approval

Shares of Mangalore Refinery and Petrochemicals Limited (MRPL) came into focus after its parent company ONGC approved a plan to develop a new strategic crude oil reserve facility in Mangaluru, Karnataka.

ONGC's board has given in-principle approval for the development of a 1.75 million metric tonnes (MMT) strategic petroleum reserve along with related facilities. The project has been classified as a national importance project and will be developed according to the directions of the Ministry of Petroleum and Natural Gas.

The project is part of the government's efforts to strengthen India's energy security by increasing its crude oil storage capacity. The government aims to build enough reserves of crude oil, natural gas, and petroleum products to meet domestic demand during supply disruptions.

Once completed, the new facility will add to the reserves managed by Indian Strategic Petroleum Reserves Ltd (ISPRL), the government-owned agency responsible for maintaining strategic oil stocks.

Currently, ISPRL manages underground storage facilities across three locations with a total capacity of 5.33 million tonnes. Additional projects are also under development to further expand India's strategic oil storage capacity.

MRPL, a subsidiary of ONGC, operates a large refinery in Karnataka, and the new storage facility could be used along with MRPL's operations to strengthen crude oil management and storage.

To know what's moving the Indian stock markets today check out the most recent share market updates here.

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Indian Share Market Update: Top Gainers and Losers