The market is abuzz today on July 9, with benchmark indices extending gains, with Nifty rising up to 0.72% or 164 points to 24,054 and Sensex is up 533 points, and is trading 0.74% higher to 77,068, as of 11:45 am.
Nifty and Sensex rose over 1% intraday.
This surge comes against the backdrop of several positive signal, including global cues, recovery from yesterday's crash and more.
Barring IT and Defence, all sectors are in the green, with gains led by Realty which is up 2.8%, followed by Media and PSU Bank.
The broader indices are trading positively, with Nifty Smallcap 250 higher by just 1.46%, while the Midcap 150 rose 1.47%.
Here are three reasons the markets are gaining today:
Positive Global Market Cues
In Asia, South Korea's Kospi surged 2.88% on Thursday after falling into a bear market in the previous session, while the small-cap Kosdaq gained 3.67%. Japan's Nikkei 225 advanced 1.88% and the Topix rose 0.36%, while Australia's benchmark S&P/ASX 200 fell 0.69%. Hong Kong's Hang Seng Index inched 0.16% higher, while mainland China's CSI 300 was flat.
In the US, S&P 500 futures rose 0.13%, futures tied to the Dow Jones Industrial Average gained 70 points, or around 0.1%, and Nasdaq 100 futures advanced 0.1%.
India Retains IMF Tag As Fastest-Growing Major Economy
India will remain the fastest-growing major economy in the world, according to the IMF's July 2026 World Economic Outlook Update, with growth projected at 6.4% for FY26 and 6.7% for FY27. The forecast marks a marginal 10-basis-point downgrade for the current fiscal year compared with the Fund's April 2026 projections, but a 20-basis-point upgrade for FY27.
On a calendar-year basis, the IMF pegs India's growth at 7.0% for 2026 and 6.4% for 2027.
IMF has attributed India's resilience to strong momentum in private consumption and services activity, even as the global economy navigates what it called "crosscurrents of war and technology." Global growth overall is projected to slow to 3.0% in 2026, down from an average of 3.5% recorded in 2024-25.
Earnings Season Around The Corner
The Tata Group IT giant TCS reports its April–June 2026 numbers today, unofficially marking the start of Q1 FY27 results season. Ten companies are set to declare their Q1 results today.
Also reporting today are Anand Rathi Wealth and GM Breweries, alongside Eimco Elecon, Arunjyoti Bio Ventures, Asian Hotels (East), Cupid Breweries and Distilleries, Gujarat Hotels, Sidh Automobiles, and Supreme Infrastructure India.
Investors will also watch TCS's interim dividend announcement closely — Bloomberg consensus puts it at Rs 19.33 per share, though TCS has come in below expectations on this front in each of the past three financial years.
TCS' Deal wins and management commentary on client spending in the US and Europe will be equally — if not more — closely tracked than the headline numbers.
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