Market Wrap, July 10: SENSEX up 827 pts, NIFTY50 ends at 24,207; Jio Fin, Adani Ent among top gainers

The Indian stock market extended its gains for a second consecutive session on Friday, July 10, mirroring strength in Asian peers, with heavy buying interest in PSU banks, IT, and realty stocks driving the rally.

Despite Friday’s gains, benchmark indices ended the week in the red, with both the SENSEX and NIFTY50 slipping 0.3% each. In contrast, the Nifty Bank index edged up marginally by 0.2%. The broader market fared better than the benchmarks, as the NIFTY Midcap 100 and NIFTY Smallcap 100 advancing 1.4% and 1.3%, respectively.

According to exchange data, on Thursday, the foreign institutional investors (FIIs) sold shares worth ₹532.86 crore, while the domestic institutional investors (DIIs) bought equities worth ₹2,057.79 crore on a net basis.

Globally, the Asian stocks closed higher on Friday, helped by buying of technology-related shares, while oil prices slipped as traders watched for developments in the Iran war.

Japan's Nikkei rose 1.42%, South Korea's KOSPI gained 2.46% while China's Shanghai Composite slipped 1.01%.

Here are the key developments of Friday's session that you need to know

As many as 3,410 stocks traded on the NSE on Friday. Out of these, 2,339 advanced and 976 stocks declined, while 95 scrips remained unchanged.

The market breadth remained in favour of advances.

A total of 110 stocks hit their 52-week highs, while 36 stocks touched their one-year lows. Besides, 113 stocks hit their upper circuit limits, and 71 touched their lower circuit bands on Friday.

NSE-listed firms' market capitalisation stood at ₹481.34 lakh crore at the end of the session.

India VIX, the volatility gauge, stood at 12.25 levels, declining 8.3%.

The broader markets outpaced the main equity indices as the Nifty Smallcap 100 index surged 1.55% to close at 19,416.50, while the Nifty Midcap 100 index ended at 63,036.80, gaining 1.4%.

Except for NIFTY FMCG (-0.08%), all the sectoral indices ended the session in green. NIFTY Realty (3.49%), NIFTY PSU Bank (3.03%), NIFTY IT (1.96%), NIFTY Metal (1.48%) and NIFTY Oil and Gas (1.31%) were the top sectoral winners on Friday.

On the NIFTY50 index, 42 stocks advanced while 7 declined and only 1 remained unchanged on Friday.

Jio Financial Services was the most contributing stock, gaining 3.9%. HDFC Life Insurance (2.84%), Adani Enterprises (2.41%), Reliance Industries (2.36%) and SBI Life Insurance (2.29%) were the other top gainers.

On the flip side, Dr.Reddy’s Laboratories (-1.19%), Eternal (-0.87%), Bharti Airtel (-0.63%), Nestle India (-0.43%), and Sun Pharma (-0.3%) were the top losers on the 50-share index.