Stock market today: Gift Nifty hints positive start; eight day trading stocks to buy on Friday, 10 July

Stock market news: Indian equity benchmarks are poised for a positive start on Friday, with the Sensex and Nifty 50 expected to track firm global markets. Sentiment improved after fears of a wider conflict in the Middle East eased, as the US and Iran continued technical-level discussions despite exchanging fresh military strikes earlier this week.

Global cues remained supportive, with most Asian markets trading higher after Wall Street ended the previous session in positive territory. Gains in semiconductor stocks fuelled optimism across the technology sector, lifting broader market sentiment.

Back home, the domestic market snapped a two-day losing streak on Thursday as value buying and short covering helped benchmarks recover. Investors also shifted their attention to the ongoing first-quarter earnings season and key domestic macroeconomic developments.

The BSE Sensex climbed 238.22 points, or 0.31%, to finish at 76,741.82, while the NSE Nifty 50 advanced 80.75 points, or 0.34%, to close at 23,962.80.

The US carried out new strikes against Iran early Thursday, prompting Tehran to respond by targeting America's regional partners, heightening worries regarding the interim deal intended to reduce tensions in the Middle East. Despite the escalation in hostilities, a US official stated that Washington remains committed to ongoing technical discussions with Tehran.

TCS reported a 2.7% quarter-on-quarter decline in net profit to ₹13,349 crore for Q1FY27, while revenue rose 2.2% QoQ to ₹72,275 crore. Revenue growth in constant currency terms stood at 0.4% QoQ. The company reported a Total Contract Value (TCV) of $9.5 billion, while EBIT fell 3% QoQ to ₹17,317 crore, with the EBIT margin narrowing to 24% from 25.3% in the previous quarter.

The number of Americans submitting applications for new unemployment benefits decreased last week, suggesting ongoing strength in the US labour market. For the week ending 4 July, initial jobless claims dropped by 2,000 to a seasonally adjusted total of 215,000, which is lower than economists had predicted at 218,000, based on a Reuters survey.

Crude oil prices remained mostly stable as diplomatic discussions between the US and Iran progressed, even amidst recent hostilities. Brent crude edged down by 0.09% to $76.23 per barrel, whereas US West Texas Intermediate (WTI) crude decreased by 0.24% to $71.91 per barrel.

Gold prices were little changed but remained on track for a weekly decline. Spot gold was flat at $4,122.09 per ounce, heading for a weekly loss of more than 1%, while US gold futures for August delivery eased 0.2% to $4,131.50 per ounce. Spot silver also edged 0.1% lower to $59.94 per ounce.

The Gift Nifty Live Chart shows a positive start for the Indian stock market today. By 7:40 AM, the Gift Nifty was trading around the 24,115 level, a premium of 152.2 points from the Nifty futures’ previous close of 23,962.80.

Ponmudi R, CEO of Enrich Money, said that Indian equity markets are expected to trade on a steady note, supported by improving global sentiment as the United States and Iran continue technical-level talks despite the recent exchange of military strikes, easing concerns over a broader escalation in the Middle East.

Global risk sentiment also improved after a strong overnight rally in US semiconductor stocks lifted optimism across the technology sector, providing positive cues for Asian equities. Meanwhile, crude oil prices have stabilised in the $71–72 per barrel range after retreating from recent highs near $76, providing additional support to overall market sentiment.

Speaking on the outlook for the Nifty 50 today, Ajit Mishra, Senior Vice President, Research at Religare Broking, said the Nifty 50 appears to have lost some momentum, and a broader phase of consolidation now seems likely. The index is expected to find support in the 23,650–23,800 zone, while the 24,150–24,400 region is likely to act as the immediate resistance band. Given the prevailing market ...