Stock Market Today: Sensex, Nifty Trade Higher Despite US-Iran Tensions, Rising Crude Oil

July 9, 2026

Mumbai: Indian benchmark equity indices traded higher in early deals on Thursday despite renewed geopolitical tensions in the Middle East and a rebound in global crude oil prices, reflecting resilience in domestic investor sentiment.

The BSE Sensex rose about 250 points, or 0.32 per cent, to touch an intraday high of 76,752, while the Nifty50 gained 46.90 points, or 0.20 per cent, to trade at 23,928.95.

Banking and Consumer Stocks Lead Rally

Buying was witnessed across several key sectors, with Nifty Consumer Durables emerging as the top performer, gaining 1.39 per cent. It was followed by Nifty Mid-Small Financial Services (0.95 per cent), Nifty Cement (0.69 per cent), Nifty Private Bank (0.66 per cent), Nifty PSU Bank (0.64 per cent) and Nifty Auto (0.62 per cent).

In contrast, the Nifty IT index declined more than 1 per cent, making it the biggest sectoral laggard during early trade.

Among individual stocks, Infosys, HCLTech, Tech Mahindra, TCS, Dr Reddy’s Laboratories and Hindalco Industries were among the major losers, falling between 1 and 2 per cent.

Global Tensions Keep Investors Cautious

Market participants continued to monitor geopolitical developments after renewed tensions in the Middle East. Investor sentiment remained cautious following US President Donald Trump’s remarks on Iran and reports of fresh US strikes, which pushed international crude oil prices higher.

Brent crude rose about 1.49 per cent to around $80 per barrel, while West Texas Intermediate (WTI) crude gained more than 2 per cent to trade near $75 per barrel.

Despite the global uncertainty, market experts said rising foreign institutional investor (FII) inflows and resilience in large-cap financial and automobile stocks helped support Indian equities. Analysts also noted that crude oil around the $80-per-barrel mark is not yet seen as a major concern for the Indian economy.

Asian Markets Trade Mixed

Asian equity markets presented a mixed picture. Japan’s Nikkei advanced nearly 2 per cent, while South Korea’s Kospi posted modest gains. Hong Kong’s Hang Seng Index, however, traded lower by around 1 per cent, reflecting cautious investor sentiment across the region.

Investors are expected to remain focused on global geopolitical developments, crude oil prices, foreign fund flows and upcoming corporate earnings for further market direction.