Indian Equities Rebound: Sensex Jumps Over 650 Points, Nifty Above 24,100 Amid Easing Global Tensions
Markets gained momentum, driven by short-covering and positive global cues as geopolitical concerns in West Asia showed signs of easing.
The story
Indian equity benchmarks staged a notable recovery, with the Sensex advancing over 650 points and the Nifty 50 climbing above the 24,100 mark in morning trade today. On Thursday, the Nifty 50 closed 80.75 points, or 0.34%, higher at 23,962.80, while the Sensex rose 238.22 points, or 0.31%, to settle at 76,741.82, primarily fueled by short-covering.
The rebound was supported by buying interest in sectors such as realty, consumer durables, pharma, and financials, with Bank Nifty outperforming the broader market. Global sentiment remained supportive as Wall Street extended gains overnight, and technical-level talks between the US and Iran eased concerns over a broader escalation in the Middle East. Foreign Institutional Investors (FIIs) were net sellers of ₹334.72 crore on July 9, while Domestic Institutional Investors (DIIs) showed net buying of ₹1,285.25 crore.
The tape
| Instrument | Last | Change |
|---|---|---|
| Nifty 50 | 24,162.65 | +199.85 (0.83%) |
| Sensex | 77,428.52 | +686.70 (0.89%) |
| Bank Nifty | 57,252.45 | +509.85 (0.9%) |
| USD/INR | 95.29 | -0.10 (0.10%) |
| India VIX | 12.13 | -9.21% |
Flows & data
| Item | Reading | Read |
|---|---|---|
| FII Net Flows | -₹334.72 Cr (July 9, 2026) | Foreign Institutional Investors were net sellers in the equity cash segment. |
| DII Net Flows | +₹1,285.25 Cr (July 9, 2026) | Domestic Institutional Investors were net buyers in the equity cash segment. |
| FII Net Flows | -₹532.86 Cr (July 8, 2026) | Foreign Institutional Investors recorded net selling. |
| DII Net Flows | +₹2,057.79 Cr (July 8, 2026) | Domestic Institutional Investors recorded net buying. |
IPOs & the primary market
The primary market remains active, with several IPOs open for subscription. Kusumgar Ltd's mainboard IPO, which opened on July 8 and closes today, has been subscribed 13.87 times, with a Grey Market Premium (GMP) of +37.7%.
Laser Power & Infra's mainboard IPO opened yesterday, July 9, and has seen a subscription of 0.17 times, with a GMP of +13.1%. In the SME segment, Devson Catalyst's IPO, also open since July 9, is subscribed 8.28 times and commands a GMP of +38.1%.
Looking ahead, SBI Mutual Fund and Alpine Texworld are set to open their mainboard IPOs from July 14 to 16. Millworks Technologies' BSE SME IPO, opening on the same dates, shows a significant GMP of +105.7%.
Valuation watch — India & global
There have been no new notable reports or commentaries on India's Nifty PE valuation or broader global market froth signals since the last edition. The Cyclically Adjusted Price Earnings (CAPE) ratio, a long-term valuation metric, averages inflation-adjusted earnings over a ten-year period to smooth out business cycle fluctuations. While this method offers a clearer signal of long-term market valuation, specific updated figures or analyses indicating a significant shift in India or global markets have not been released within the freshness window.
Monsoon watch
India's monsoon has made a significant recovery, officially covering the entire country by July 9, just one day later than its normal date. Between July 1 and July 8, the country received 92.3 mm of rainfall, marking a 42% surplus against the long-period average of 65.1 mm.
This intense rainfall has rapidly reduced the national seasonal deficit, which now stands at 15.2% from 40% at June-end. Central India, including states like Madhya Pradesh, Maharashtra, Gujarat, Chhattisgarh, and Odisha, has particularly benefited from widespread heavy rainfall.
This improvement is expected to boost kharif sowing, which had been lagging by 21% year-on-year as of last week. However, a persistent rainfall deficit of 39% in East and Northeast India remains a concern, potentially impacting sowing in regions like Bihar, Uttar Pradesh, and Jharkhand.
What we'll be watching
- The Reserve Bank of India's Monetary Policy Committee (MPC) is scheduled to meet from August 3 to 5, 2026, for its next rate-setting decision.
- The ongoing Q1 earnings season will continue to provide insights into corporate performance and sector-specific trends.
- Upcoming mainboard IPOs for SBI Mutual Fund and Alpine Texworld are set to open on July 14, 2026.
- The BSE SME IPO for Millworks Technologies will also open on July 14, 2026.
Reporting + analyst voices: grounded via Google Search at publish time.