Sensex Jumps 918 Points, Reclaiming Key Levels as Midcap Rally Defies IT Sector Slump

Broad Market Outperformance Fuels Equity Rally on April 10​

Indian equity indices posted a robust comeback on April 10, rallying strongly after a muted previous session. The market's positive buoyancy was underpinned by favorable global cues and easing geopolitical concerns. Indices witnessed broad-based buying sentiment, enabling the Nifty 50 to touch 24,074.05 intraday before settling near its day's peak.

At the close of trading, the Sensex climbed by 918.60 points, marking a 1.20 percent surge to reach 77,550.25. Concurrently, the Nifty recorded a gain of 275.50 points, posting a 1.16 percent rise to settle at 24,050.60.

Midcap and Smallcap Segments Lead Market Gains​

Broader market indices demonstrated outperformance relative to the benchmark indices. The Nifty Midcap and Smallcap indices both climbed by an encouraging 1.5 percent.

This momentum built further when the BSE Sensex and Nifty recorded gains of nearly 6 percent for the week. This marks the best weekly performance for both indices since February 2021 and helped snap a six-week losing streak.

Sectoral Divergence: Auto and Realty Drive Gains While IT Slips​

Sector performance showed noticeable divergence on the day. Key sectors such as Auto, Capital Goods, Consumer Durables, Realty, Power, FMCG, PSU Bank, Metal, and Private Bank all added between 1-2%.

Conversely, the IT index faced headwinds, shedding 1.7% for the day. Amidst the positive action, Asian Paints, Eicher Motors, ICICI Bank, Bajaj Auto, and Shriram Finance stood out among the biggest Nifty gainers.

Corporate Earnings and Contracts Boost Stock Performances​

Stock-specific activity highlighted major corporate developments. Wipro shares rose 1% after the announcement that its board would consider a share buyback program. Dev Information Technology gained 7% following the securing of a ₹26 crore contract, while Power Mech Projects jumped 9% after winning an order valued at ₹296 crore.

Positive news also fueled other gains; HDFC Life Insurance Company shares rose 2% as its board is scheduled to consider a fundraising proposal on April 16. Godrej Properties jumped 1.5% after reporting its highest-ever bookings and collections for FY2026.

Downturns Noted in Tech and Pharma Giants​

The negative segments were marked by major IT and Pharma stocks. Tata Consultancy Services declined by 2.5% after reporting its Q4 earnings. Sun Pharmaceutical Industries fell 3.6% amid reports concerning a potential acquisition of Organon.

In the IT sector, Infosys, TCS, and Tech Mahindra were listed among the decliners. Coal India and Sun Pharma were also flagged as key market losers for the day.

Infrastructure and PSU Gains Signal Recovery Momentum​

The Infrastructure and PSU sectors contributed positively to the index gains. IRB Infrastructure Developers rose 3% after noting a 20.7% increase in toll revenue during March 2026. RailTel Corporation of India advanced 2% after securing a contract worth ₹23.18 crore.

Furthermore, Eicher Motors gained 3.2% following the introduction of its first electric motorcycle. Shriram Finance saw a 3% bump after CRISIL upgraded its long-term rating to AAA with a stable outlook.

52-Week High Touches Across Bluechip Stocks​

Market breadth was evident as over 100 stocks recorded touching their 52-week high on the BSE. Among the notable names achieving this milestone were Adani Energy, Ather Energy, Hitachi Energy, Titan Company, and Cummins India.