Morning Brief: Nifty Rises 0.34% to 23,962; Midcap Shines as DIIs Infuse ₹2,057 Cr | 10 Jul 2026, 08:15 AM IST
By ThePip Desk
Indian benchmarks closed higher with the Nifty Midcap 100 leading gains. Domestic Institutional Investors provided strong support, offsetting FII selling on the NSE.
Indian equity benchmarks rebounded on Thursday, with the Nifty 50 closing above the 23,950 mark. The broader market, particularly midcaps, saw significant gains, driven by robust buying from Domestic Institutional Investors (DIIs).
Market Snapshot
| Index | Last |
|---|---|
| Nifty 50 | 23,962.80 (+0.34%) |
| Nifty Bank | 57,252.45 (+0.90%) |
| Nifty Midcap 100 | 62,166.85 (+1.38%) |
Institutional Flows
Domestic Institutional Investors (DIIs) were net buyers on July 9, infusing a substantial ₹2,057.79 crore into the market. This helped counter the net selling by Foreign Institutional Investors (FIIs) of ₹532.86 crore on the NSE. Over the past five sessions, FIIs have shown mixed activity, while DIIs have largely remained net buyers.
| Date | FII Net (₹ Cr) | DII Net (₹ Cr) |
|---|---|---|
| 2026-07-09 | -532.86 | 2,057.79 |
| 2026-07-08 | 1,962.80 | 790.16 |
| 2026-07-07 | 393.19 | -383.43 |
| 2026-07-06 | 243.03 | 3,791.42 |
| 2026-07-03 | 1,355.33 | -1,953.89 |
Breaking down the FII/FPI activity, SEBI data indicates a significant equity net investment of ₹9,488.75 crore on July 9, even as debt saw a minor outflow of ₹193.71 crore. This suggests FIIs were selective in their equity investments.
Sector Performance
Realty and PSU Banks were the top-performing sectors, while Auto and IT indices saw minor declines.
| Sector | Last |
|---|---|
| Nifty Realty | 906.95 (+3.54%) |
| Nifty PSU Bank | 8,203.20 (+1.62%) |
| Nifty Pharma | 25,656.25 (+0.89%) |
| Nifty FMCG | 49,350.15 (+0.76%) |
| Nifty Financial Services | 26,482.45 (+0.60%) |
| Nifty Auto | 26,676.35 (-0.21%) |
| Nifty IT | 27,471.25 (-0.30%) |
Top Movers
Nifty 50 saw a mix of strong gains and some notable declines in the last session.
Gainers
| Symbol | Company | Last |
|---|---|---|
| SUNPHARMA | Sun Pharmaceutical Industries Ltd. | 1,938.70 (+2.67%) |
| BHARTIARTL | Bharti Airtel Ltd. | 1,931.10 (+2.28%) |
| BAJAJFINSV | Bajaj Finserv Ltd. | 1,895.00 (+2.16%) |
Losers
| Symbol | Company | Last |
|---|---|---|
| DRREDDY | Dr. Reddy’s Laboratories Ltd. | 1,269.50 (-5.89%) |
| INFY | Infosys Ltd. | 1,050.80 (-1.73%) |
| MARUTI | Maruti Suzuki India Ltd. | 13,728.00 (-1.60%) |
Global Cues
Asian markets mostly ended higher on Thursday, buoyed by a rally in AI-related tech stocks and hopes for policy support from China. However, US markets closed mostly in the red on Wednesday amid concerns about a re-escalation of the conflict in the Middle East.
Currency & Bond Markets
The Indian rupee remained unchanged against the US dollar, closing at 95.48. Meanwhile, bond yields traded lower on Thursday, with yields on the new 10-year Government Stock down 02 basis points at 6.74%.
Economy & Macro
The International Monetary Fund (IMF) revised India’s growth projection for fiscal year 2026-27 (FY27) to 6.4%, a slight moderation from its earlier 6.5% forecast, citing higher energy prices. Separately, the United Nations Trade and Development (UNCTAD) reported a significant 44% surge in Foreign Direct Investment (FDI) inflows into India in 2025, reaching $39 billion, driven by an active policy agenda focusing on manufacturing. Commerce and Industry Minister Piyush Goyal indicated that the legal scrubbing for the India-EU Free Trade Agreement (FTA) is likely to be completed within 15-20 days.
IPO Watch
The primary market is active with several IPOs currently open for subscription and more in the pipeline:
Open Now
- Happy Steels Ltd.: Open from July 9-13, with a price band of ₹62-66.
- Laser Power & Infra Ltd.: Open from July 9-13, with a price band of ₹203-214.
- Devson Catalyst Ltd.: Open from July 9-13, with a price band of ₹112-118.
- Kusumgar Ltd.: Open from July 8-10, with a price band of ₹398-419.
Upcoming
- Millworks Technologies Ltd.: Opening July 14-16, with a price band of ₹315-331.
- SBI Funds Management Ltd.: Opening July 14-16, with a price band of ₹545-574.
- Alpine Texworld Ltd.: Opening July 14-16, with a price band of ₹100-105.
Corporate Highlights
- TCS reported a 5% rise in Q1 consolidated net profit, with total consolidated income increasing by 13.44% to ₹73,843 crore for Q1FY27.
- L&T’s arm signed an MoU with Azuremoto Technologies for cross-border business cooperation in SiC power semiconductor products for the AI Data Centre market.
- Leela Palaces Hotels unveiled ‘The Leela Coorg Forest Sanctuary’ in Karnataka, featuring 71 villas.
- NCL Industries surged after reporting a 9% growth in cement production for the June quarter.
- United Drilling Tools moved up on bagging an export order worth ₹93.07 lakh.
- Piramal Pharma climbed after receiving an EIR from the USFDA for its Sellersville manufacturing facility.
The resilience of Indian midcaps, driven by DII buying, highlights domestic investor confidence despite global uncertainties and FII caution on the NSE.
While FIIs were net sellers on the NSE cash segment, their substantial equity inflows as per SEBI data suggest a strategic rebalancing of their Indian portfolio, possibly favoring specific sectors or off-market transactions.