Weekly Update- 10th July 2026

NIFTY50

NIFTY50 closed at 24,206.90, gaining 244.10 points (1.02%) on the daily chart and continuing its recovery from the recent correction phase. The index has reclaimed the 24,000 psychological level and is now attempting to build a base above it, while the weekly chart shows buyers gradually regaining control after defending the major support region around 22,800–23,000. The recent candles indicate improving momentum, supported by broad-based participation across sectors and a noticeable improvement in market sentiment. The ability to sustain above key support levels despite intermittent volatility reflects strengthening demand and increasing confidence among market participants. A decisive close above 24,300–24,350 is required to confirm continuation towards 24,600–24,800. On the downside, 24,000–23,900 remains the immediate support zone, and as long as this region holds, the short-term structure remains constructive with a positive bias. Continued buying interest near support levels could help the index gradually extend its recovery in the coming sessions.

BANKNIFTY

BANK NIFTY closed at 58,045.90, rising 793.45 points (1.39%) and successfully reclaiming the important 56,850–56,900 breakout zone. The daily chart shows strong buying interest following the sharp correction, while the weekly chart indicates that the recovery is gaining traction after holding the major support area near 50,800–51,000. Strong participation from both private sector and PSU banks has helped improve the overall market structure, while improving momentum suggests that buyers remain firmly in control. The index is now approaching the crucial resistance band around 58,200–58,600, which has acted as a significant supply zone in recent months. A sustained move above this region can open the path towards 59,500–60,000, whereas failure to hold 56,850 may result in consolidation before the next directional move develops. As long as the index remains above its key breakout zone, the broader outlook continues to favour the bulls with dips likely to attract fresh buying interest.

TOP GAINING SECTOR

NIFTY REALTY was top gainer sector for the week

Major gainers were:-

LODHA:- up by 15.49%

BRIGADE ENT:- up by 11.82%

ANANTRAJ:- up by 8.96%

GODREJ PROP:- up by 6.84%

TOP LOSING SECTOR

NIFTY MEDIA was top losing sector for the week

Major losers were:-

ZEE ENTERTAIN:- down by 7.25%

NETWORK 18:- down by 5.43%

SUN TV NETWORK:- down by 3.03%

HATHWAY CABLE:- down by 2.39%

IMPORTANT NEWS

• The government reduced customs duties on electronics and battery manufacturing inputs to strengthen domestic manufacturing and improve competitiveness under the Make in India initiative. The move benefits electronics EMS companies, EV battery manufacturers, and component suppliers by lowering input costs and improving production economics. It also supports the development of semiconductor, electronics, and clean energy supply chains, encouraging greater investment and enhancing India’s manufacturing ecosystem over the long term.

• India and Australia signed a uranium cooperation agreement, while AustralianSuper committed AU$500 million to India’s National Investment and Infrastructure Fund (NIIF). These developments strengthen India’s energy security, support long-term nuclear power expansion, and reinforce strategic ties between the two countries. The investment commitment also reflects growing global confidence in India’s infrastructure sector and highlights the country’s attractiveness as a long-term investment destination.

• The government and Nasscom are jointly developing AI-focused undergraduate curricula to prepare India’s workforce for the next phase of technological transformation. The initiative aims to address skill shortages, improve employability, and create a pipeline of talent equipped for emerging technologies. By strengthening AI education and industry readiness, the programme supports India’s ambition of becoming a global AI talent hub and a leading centre for digital innovation and advanced technology development.

• Tata Consultancy Services (TCS) added more than 9,200 employees during the quarter, marking its strongest hiring pace in almost four years. The hiring surge reflects improving demand visibility across technology services, growing enterprise spending on AI and digital transformation, and increased confidence in future business opportunities. The development is a positive signal for the broader IT sector and suggests a gradual recovery in technology spending by global clients.

• Foreign investors are gradually returning to Indian equities after substantial outflows over the past few years. Improving corporate earnings visibility, moderating crude oil prices, and stable macroeconomic conditions are helping attract overseas capital back into the market. Sustained FII inflows could improve market liquidity, support valuations, and strengthen investor sentiment. The trend also reflects continued confidence in India’s long-term economic growth prospects and investment opportunities.