Nifty 50 closed above 24,250 on July 10, while the Sensex added 280 points in a session led by IT and pharma stocks. The rally followed strong sector rotation out of banking and into technology counters, with market participants tracking global cues and domestic liquidity flows.
The benchmark Nifty 50 opened at 24,124.70 against the previous close of 23,962.80 and traded in a range of 24,120.35 to 24,226.05 during the session. Sensex closed 580 points higher in what marked a broad-based advance, with oil prices providing additional tailwind to sentiment. IT stocks outperformed across the board as the sector absorbed buying interest from both institutional and retail participants.
| Index | Close | Change | % Change |
|---|---|---|---|
| Nifty 50 | 24,250+ | 287.20+ | 1.20%+ |
| Sensex | — | +280-580 pts | — |
The Nifty Bank index closed at 58,200.70, down 90.80 points, while Nifty Financial Services slipped 8.80 points to 26,985.05. The Nifty Next 50 dropped 437.15 points to 72,248.45, reflecting weakness in midcap derivatives. Water Distribution emerged as the top-performing sector with a 4.65% gain, followed by Refractories at 3.00% and Distributors at 2.63%.
Pharma and realty stocks contributed to the advance alongside IT, with participants noting sector rotation into defensives. Volume on Nifty 50 reached 519.75 lakh shares with a total turnover of ₹4,319.58 crore. The index's 52-week range stands at 22,182.55 to 26,373.20, with today's close positioning the benchmark in the middle of that band.
GIFT NIFTY tracked the cash market rally throughout the session, opening at 24,099.50 and climbing to an intraday high of 24,260.00 before settling at 24,239.00. The offshore derivative gained 136.50 points or 0.57% from the previous close of 24,102.50, with the session low at 24,081.50.
| Metric | Value |
|---|---|
| Open | 24,099.50 |
| High | 24,260.00 |
| Low | 24,081.50 |
| LTP | 24,239.00 |
| Change | +136.50 (+0.57%) |
The GIFT NIFTY session saw an early dip below 24,090 in the overnight hours before recovering sharply around the 11:45 mark, when the contract surged from 24,137 to 24,207 in a single five-minute bar. The derivative maintained strength through the afternoon, holding above 24,180 during late-session volatility and closing near session highs.
GIFT NIFTY heads into Session II at 24,239.00, up 0.57% and positioned to track any overnight moves in global markets ahead of Friday's domestic open.