SENSEX surges over 500 points, NIFTY50 above 23,900 led by gains in banking shares

The Indian equity benchmarks moved sharply higher on Friday, April 10, mirroring gains in other Asian markets after crude oil remained below $100 per barrel for a second straight session. The SENSEX rose as much as 630 points and NIFTY50 index touched an intraday high of 23,979 powered by gains in heavyweights like HDFC Bank, ICICI Bank, Reliance Industries, Axis Bank and State Bank of India.

As of 9:25 am, the SENSEX was up 529 points at 77,160 and NIFTY50 index gained 168 points to 23,943.

Asian markets were trading higher on Friday as crude oil prices stabilised below $100 per barrel for a second straight session. Japan's Nikkei rose 1.5%, China's Shanghai Composite gained 0.87%, Hong Kong's Hang Seng surged 0.8% and South Korea's KOSPI rose 1.85%.

Back home, buying was visible across board as 12 of 15 major sector gauges compiled by the National Stock Exchange were trading higher led by the NIFTY PSU Bank index's 1.6% gain, NIFTY Bank, Auto, Private Bank, Financial Services, Realty, Metal, Consumer Durables and Oil & Gas indices also rose between 0.85% and 1.5%.

On the flip side, NIFTY IT, pharma and healthcare indices were trading lower.

Mid- and small-cap shares were also witnessing buying interest as NIFTY Midcap 100 advanced 0.97% and NIFTY Smallcap 100 index gained 1.37%.

Asian Paints was top gainer in the NIFTY50 index, the stock rose 3.2% to ₹2,342. Shriram Finance, Eicher Motors, Axis Bank, ICICI Bank, Bajaj Finance, Mahindra &Mahindra and Bajaj Auto also rose between 1.95% and 2.95%.

On the other hand, Tata Consultancy Services was among the top laggards in the NIFTY50 index, the stock fell over 3% after its March quarter earnings failed to enthuse investors.

The country's largest software services company reported a consolidated net profit of ₹13,718 crore in fourth quarter of previous financial year (Q4FY26), marking an increase of 12% from ₹12,224 crore in the same period in the year-ago period. On a sequential basis, TCS' net profit rose 29% from ₹10,657 crore.

Sun Pharma, Infosys, HCL Technologies, Tech Mahindra, Hindalco, Max Healthcare, Coal India and Titan were also among the notable losers in the NIFTY50 index.

The overall market breadth was extremely positive as 2,525 shares were advancing while 278 were declining on the NSE.