The Indian stock market commenced trading on Thursday, July 9, 2026, with key indices Sensex and Nifty registering gains. The 30-share BSE Sensex climbed 464 points to reach 76,968, while the broader NSE Nifty advanced 145 points, settling at 24,021 in early deals.
Despite the overall positive start, the information technology (IT) sector faced headwinds, with major players experiencing declines. Infosys, TCS, HCL Tech, and Tech Mahindra were among the top Sensex losers, shedding up to 2% of their value.
Geopolitical Tensions Impact IT Sector
The market's mixed performance comes amid renewed tensions between the US and Iran. While crude oil prices were trading below $75 per barrel, a level recorded the previous day, the geopolitical uncertainty contributed to the cautious sentiment, particularly affecting the export-oriented IT sector.
Among the Sensex constituents that saw significant gains, Eternal, Sun Pharma, Bharti Airtel, Asian Paints, L&T, and Titan each rose by up to 4% in early trade.
Expert Insights on Market Trends
VK Vijayakumar, Chief Investment Strategist at Geojit Investments, noted that the September crude oil futures trading at $76 suggests the market does not anticipate a significant escalation of the US-Iran situation. He observed that global markets have not panicked, but the scenario warrants close monitoring. Vijayakumar also highlighted the continued trend of Foreign Institutional Investors (FIIs) turning buyers in India, having invested Rs 3,954 crores in the cash market over the last four trading days. He projected that large-cap stocks, particularly in financials and automobiles, are likely to remain resilient if crude prices stabilize.
Anand James, Chief Market Strategist also at Geojit Investments, offered a technical outlook for the Nifty. He suggested that after a surge towards 24,600 and an immediate subsequent decline, the market is poised for either a significant breakdown targeting 22,900 or a recovery swing towards 24,400. James's favored view anticipates a recovery, initially aiming for 24,041-24,229. Conversely, an inability to sustain above 23,936 could signal further downsides, with an initial target of 23,641.
Previous Session's Performance
In the preceding session, the Indian markets closed significantly lower. The Sensex had slumped 1,677.12 points, or 2.15%, to settle at 76,503.60. The NSE Nifty50 index also saw a substantial decline, falling 516.65 points, or 2.12%, to close at 23,882.05.