Indian Equities Surge as TCS Earnings Boost Investor Sentiment

The BSE Sensex and NSE Nifty ended Friday, July 10, 2026, more than 1 percent higher, marking a second consecutive day of gains. The Sensex jumped 827.57 points to close at 77,569.39, while the Nifty gained 244.10 points to settle at 24,206.90. The rally was fueled by a broad-based surge in financial, realty, and IT sectors, alongside easing Brent crude prices and positive global cues from Asian semiconductor markets.

Tata Consultancy Services catalyzed the IT sector's growth after reporting a 4.61 percent increase in June-quarter net profit to Rs 13,349 crore and highlighting $2.6 billion in annualized AI revenue. Other major contributors to the rally included market heavyweights Reliance Industries, ICICI Bank, and HDFC Bank. Market breadth remained healthy, with the Nifty Midcap index reaching a fresh record high.

Investor confidence was further bolstered by a commitment from the United States to continue "technical talks" with Iran, suggesting limited hostilities in West Asia. Simultaneously, data from the Association of Mutual Funds in India revealed a recovery in retail sentiment for June 2026. Equity mutual fund inflows rose 26 percent to Rs 28,973 crore, with Systematic Investment Plan (SIP) contributions hitting a three-month high of Rs 31,781 crore. Despite these gains, the broader mutual fund industry saw a net outflow of Rs 52,949 crore due to significant redemptions from debt-oriented schemes.