Weekly Update- 10 April 2026

NIFTY50

Nifty closed the week at 24,051, gaining 1,137 points (+5.89%). The week began on a positive note with broad-based market participation, indicating improving sentiment. On Tuesday, the index witnessed a massive gap-up of around 800 points following the ceasefire news between the US and Iran, which acted as a strong positive trigger. The gap-up was sustained throughout the session, with the index closing near the day’s high. Over the next three sessions, the market continued to hold above these levels, reflecting strong momentum and sustained buying interest, eventually closing near its weekly highs. For the coming week, key resistance is placed around 24,500, while support lies near 23,650.

BANKNIFTY

ank Nifty closed the week at 55,913, gaining 8.47%. The week began on a positive note with broad-based participation, indicating improving sentiment in the banking space. On Tuesday, the index witnessed a massive gap-up of around 2,200 points following the ceasefire news between the US and Iran, which acted as a strong trigger. The gap-up was sustained throughout the session, with the index closing near the day’s high. Over the next three sessions, the index continued to hold these gains, reflecting strong momentum and sustained buying interest, eventually closing near its weekly highs. Bank Nifty also outperformed throughout the week, led by strong momentum in PSU banks. For the coming week, key support is placed around 54,500, while resistance lies near 56,700.

TOP GAINING SECTOR

NIFTY REALTY was top gainer sector for the week

Major gainers were:-

LODHA:- up by 18.75%

PRESTIGE:- up by 14.97%

OBEROIRLTY:- up by 10.94%

DLF:- up by 9.07%

IMPORTANT NEWS

• US-Iran Ceasefire Hopes: Hopes for a temporary ceasefire between the US and Iran reduced geopolitical risk, triggering a significant rise in global and domestic markets.
  
• Best Weekly Performance in 5 Years: The Sensex and Nifty gained nearly 6% this week, breaking a six-week losing streak.
  
• Oil Prices Ease: Reduced tensions contributed to lower crude oil prices, which improved investor sentiment in India.

• Broad-Based Rally: The rally was driven by strong buying in banking, financial, and auto stocks, with smallcap and midcap indices outperforming by rising 7.6% and 7.8% respectively.

• Banking & Finance Surge: Banking shares saw strong buying interest, driving the benchmark indices higher.

• IT Profit Booking: Despite the overall market rise, IT stocks saw some profit booking following Q4 earnings results.