Summary of this article
Indian stock markets traded higher on positive global cues
Nifty 50, Sensex traded 1 per cent higher each, led by rise in bank stocks
Indian stock markets rebounded on April 10, tracking a rise in global markets as the US and Iran prepare for peace negotiations in Islamabad, Pakistan. The rise in Nifty and Sensex on April 10 was led by a rally in banking stocks.
Both the Nifty 50 and the Sensex indices were trading 1 per cent higher on April 10, with Nifty at 24,012.80 points while the 30-share BSE Sensex was at 77,404.43 points.
Despite a fragile ceasefire between the US and Iran, global markets rose overnight on hopes of positive negotiations between the two countries. US stock markets ended higher, driven by consumer discretionary and retail stocks. Meanwhile, the US GDP and PCE report showed that the largest economy growth was slower than expected in the fourth quarter, while consumer prices remain elevated.
Crude oil prices turned volatile as investors waited for news of Iran reopening the Strait of Hormuz against the backdrop of warnings from US President Donald Trump. The rupee was trading 0.3 per cent higher at 92.74 against the US dollar on April 10.
On domestic stock exchanges, the rise in broader markets was led by gains in bank and finance stocks. ICICI Bank shares were trading 3 per cent higher on the NSE at Rs. 1,319.70 per share, lagging only behind Asian Paint shares, which were trading 3.8 per cent higher at Rs. 2,355.30 per share on the NSE. Axis Bank shares were also trading 2.6 per cent higher at Rs. 1,353 per share on NSE. The Nifty Bank index was trading around 2 per cent higher at 55,892.90 points on April 10.
Auto shares such as Mahindra and Mahindra and Eicher Motors were also among the top gainers, with M&M shares trading 2.8 per cent higher at Rs. 3,256.70 per share, and Eicher Motors shares trading 2.3 per cent higher at Rs. 7,313.50 per share.
Among top losers in the market today, Coal India showed the biggest decline, with shares falling around 5.3 per cent to Rs. 430.15 per share on the NSE. Sun Pharma shares were trading 3.9 per cent lower at Rs. 1,651 a piece. Major IT sector stocks also showed negative returns, with TCS shares trading 2.6 per cent lower at Rs. 2,522.1 a piece, despite reporting nearly a 12 per cent rise on year in its consolidated profit in the final quarter of 2025-26. Other major IT firms such as Infosys and HCL Tech also shed their valuations, with the former trading 2.6 per cent lower and the latter trading 1.5 per cent lower, before the earnings of the company are announced next week, as investors assessed the impact of macroeconomic challenges.
