The Indian stock market saw healthy buying on Friday, October 10, with the benchmarks- the Sensex and the Nifty 50- extending gains to the second consecutive session amid mixed global cues.
The Sensex rose 329 points, or 0.40 per cent, to close at 82,500.82, while the Nifty 50 settled at 25,285.35, up 104 points, or 0.41 per cent. Gains were broad-based as the BSE Midcap and Smallcap indices rose 0.36 per cent and 0.59 per cent, respectively.
The overall market capitalisation of BSE-listed firms rose to nearly ₹462 lakh crore from ₹460 lakh crore in the previous session, making investors richer by about ₹2 lakh crore in a single session.
Indian stock market: 10 key highlights from the day
1. Why did the Sensex, Nifty 50 rise today?
Market benchmarks rose for the second consecutive session on optimism that a potential trade deal between India and the US could be near.
As Mint reported, Prime Minister Narendra Modi on Thursday, 9 October, spoke with US President Donald Trump to congratulate him on the Gaza peace plan. During the conversation, PM Modi said, the two leaders also reviewed ongoing trade negotiations, noting “good progress”.
Earlier, on Tuesday, 7 October, news agency PTI reported that Union Minister for Commerce and Industry Piyush Goyal stated that India and the US are continuing their dialogue on the proposed bilateral trade agreement (BTA), including the possibility of meeting the November 2025 deadline.
Moreover, foreign institutional investors (FIIs) have been buying Indian equities in the cash segment since October 7. This is also influencing domestic market sentiment.
2. Top gainers in the Nifty 50 index today
As many as 35 stocks ended higher in the Nifty 50 index, with Cipla (up 3.63 per cent), SBI (up 2.22 per cent), and Maruti Suzuki India (up 1.88 per cent) as the top gainers.
3. Top losers in the Nifty 50 index
Shares of Tata Steel (down 1.46 per cent), TCS (down 1.10 per cent), and HDFC Life Insurance Company (down 0.74 per cent) ended as the top losers in the index.
4. Sectoral indices today
Barring Nifty Metal (down 0.91 per cent) and IT (down 0.05 per cent), all sectoral indices ended higher.
Nifty PSU Bank (up 1.67 per cent), Realty (up 1.67 per cent), Pharma (up 1.29 per cent), Healthcare (up 1.02 per cent).
Nifty Bank and Financial Services indices rose 0.74 per cent and 0.44 per cent, respectively.
5. Most active counters in terms of volume
Vodafone Idea (70.2 crore shares), YES Bank (55.1 crore shares), and Tata Silver Exchange Traded Fund (12.9 crore shares) were the most active counters in terms of volume on the NSE.
6. Nine stocks jump over 15% on BSE
Century Extrusions, Gujarat Terce Laboratories, Zinema Media and Entertainment, Travels & Rentals, and Cargotrans Maritime were among the nine stocks that jumped by more than 15 per cent on the BSE.
7. Advance-decline ratio
Out of 4,343 stocks traded on the BSE, 2,474 advanced, while 1,706 declined. Some 163 stocks remained unchanged.
8. Over 170 stocks hit 52-week highs
As many as 171 stocks, including SBI, Eternal, PNB, and YES Bank, hit their 52-week highs in intraday trade on the BSE.
9. Over 100 stocks hit 52-week lows
Clean Science and Technology, Ganesh Housing, Route Mobile, Tips Music, and Westlife Foodworld were among the 105 stocks that hit their 52-week lows on the BSE.
10. Nifty’s technical outlook
According to Amol Athawale, VP of technical research at Kotak Securities, the 20-day SMA and 25,000 will act as crucial support zones for short-term traders.
Athawale said as long as the market is trading above 25,000, the uptrend is likely to continue.
“On the higher side, the market could rally to 25,450–25,500. Further upside may also continue, potentially lifting the index up to 25,700. Conversely, if the market falls below 25,000, the uptrend would become vulnerable. Below this level, traders may prefer to exit their long positions,” said Athawale.
Ajit Mishra, the SVP of research at Religare Broking, stated that the Nifty is approaching its trendline resistance around 25,450, with immediate support now positioned near 25,000.
“A decisive breakout above this hurdle could further reinforce the recovery and open the path toward the June highs near 25,669,” said Mishra.
“We expect rotational buying across key sectors to continue providing trading opportunities; however, traders should emphasise prudent risk management given the likely volatility during the ongoing earnings season,” Mishra said.
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Disclaimer: This story is for educational purposes only. The views and recommendations expressed are those of individual analysts or broking firms, not Mint. We advise investors to consult with certified experts before making any investment decisions, as market conditions can change rapidly and circumstances may vary.
