News Overview

Indian benchmark indices rebounded on July 9, 2026, after the previous session's sharp sell-off. Nifty climbed 80.75 points while Sensex added 238.22 points, supported by strong gains in Realty, PSU Banks, and Consumer Durables. Stable crude oil prices, buying in heavyweight stocks, and Morgan Stanley's positive outlook on Indian equities boosted market sentiment.

The ₹11,692.91 crore SBI Funds Management IPO opens for subscription on July 14, 2026. Backed by SBI and Amundi, the country's largest AMC has reported strong financial growth and a healthy grey market premium ahead of listing.

Tata Consultancy Services (TCS) reported a mixed yet stable performance for Q1 FY27, with revenue rising to ₹72,275 crore, net profit at ₹13,349 crore, AI revenue growing 13.6% sequentially, and total contract value reaching $9.5 billion.

HDFC Bank has reduced MCLR by 5 bps on select tenures from July 7, 2026. While older MCLR-linked home, car, and personal loan borrowers may benefit, repo-linked loan customers are unlikely to see any immediate reduction in EMIs.

Kalyan Jewellers reported a strong Q1 FY27 with 38% revenue growth, robust same-store sales, and triple-digit growth at Candere. Citi upgraded the stock to Buy with a ₹750 target, driving a sharp rally in the company's shares.

Kusumgar IPO GMP remains steady at ₹160 on July 9, 2026, with an estimated listing price of ₹579 and an expected gain of 38.19%. The IPO has been subscribed 5.46 times on Day 2, reflecting strong investor interest, though GMP remains an unofficial market indicator.

India Tourism Development Corporation (ITDC) shares surged to a new 52-week high as investors cheered the long-term growth prospects of India's tourism and hospitality industry. Strong trading volumes, government tourism initiatives, and rising domestic travel demand have boosted sentiment around the PSU stock.

Indian benchmark indices witnessed a broad-based sell-off on July 8, 2026, with the Nifty 50 and Sensex declining more than 2% as renewed US-Iran tensions, soaring crude oil prices, a weaker rupee, and rising market volatility dented investor sentiment. Banking and financial stocks led the decline, while most sectoral indices ended deep in the red amid growing geopolitical uncertainty.

Indian equities declined over 2% as escalating US-Iran tensions raised concerns over oil prices, inflation and global economic stability. Here's why geopolitical risks impacted Sensex and Nifty.

Brent crude prices surged over 3% to above $76 a barrel after renewed US-Iran tensions threatened global oil supplies. Markets are closely watching developments in the Strait of Hormuz and the impact of sanctions on Iranian oil exports.