The Indian stock market extended its winning streak on Thursday, July 9, 2026, with both the Nifty50 and Sensex posting strong gains. The Nifty50 climbed 147.05 points to close at 24,029.10, while the Sensex rose 447.14 points to 76,950.74. The rally was driven by robust buying in consumer durables and auto stocks, despite global uncertainties stemming from fresh tensions between the United States and Iran.
Consumer Durables and Auto Stocks Lead the Rally
Consumer durables emerged as the strongest sector, with significant buying interest. Auto stocks also performed well, providing solid support to the benchmark indices. The strength in these sectors helped balance weakness in other parts of the market, particularly the IT sector.
Top Gainers and Broader Market Performance
Bharti Airtel, Sun Pharmaceutical Industries, and Eternal led the gains among large-cap stocks. The broader market outperformed, with the Nifty MidCap rising 1.14% and the Nifty SmallCap gaining 1.5%, indicating widespread investor confidence beyond just large-cap names.
Mixed Sector Performance
The Nifty Consumer Durables recorded the highest gain among sectoral indices, while the Nifty IT remained under pressure. However, the strength in consumer durables and auto stocks outweighed the weakness in IT.
Global Developments and IPO Activity
Traders monitored US-Iran tensions, but domestic buying helped offset global headwinds. In the primary market, several IPOs attracted attention: Laser Power & Infra (₹742 crore), Devson Catalyst (₹42.32 crore), and Happy Steels (₹25 crore) opened for subscription, while the Kusumgar IPO (₹650 crore) entered its second day.
Market Outlook
With the Nifty50 holding above 24,000 and Sensex near 77,000, positive momentum is expected to continue if global conditions remain stable. Investors are advised to keep an eye on sector-specific movements and upcoming IPO progress.