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Published on 10-07-2026 10:35 am

Market Outlook

The Indian market witnessed a breather session following the sharp sell-off seen in the previous trading day. The benchmark Nifty50 opened on the positive note and advanced towards the 24,100-24,150 zones during the early session. However, the index faced rejection and eventually settled with modest gains of 0.34%. From a technical perspective, the 100-DEMA once again acted as an immediate upside hurdle. As long as the Nifty sustains below this level, the possibility of fresh downside pressure remains intact. On the derivatives front, significant Put OI remains aligned with the 23,600 and 23,500 strikes, providing a firm downside cushion, while substantial Call OI at the 24,200 and 24,300 strikes is likely to cap the upside.

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Published on 10-07-2026 10:33 am

10 Year Benchmark Technical View :

The 10 year Benchmark (6.94% GS 2036) yield likely to move in the range of 6.7350 to 6.7625% level on Friday

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Published on 10-07-2026 10:33 am

Global Debt Market:

US Treasury’s were steady on Thursday morning after the previous session’s yield spike, as traders awaited domestic economic data and sought to look beyond the renewed hostilities in the Middle East. The key 10-year U.S. Treasury note yield the main benchmark for mortgage borrowing, auto loans and credit card debt was flat at 4.5732%. The 2-year Treasury note yield, which is typically more sensitive to short-term Federal Reserve interest rate decisions, was also unchanged at 4.1953%. The longer-dated 30- year Treasury bond yield, which moves in line with broader geopolitical risks, rose by 1 basis point, holding above the key 5% level, at 5.0773%. After the latest Federal Open Market Committee’s June meetings showed a central bank split on interest rate policy, markets are now awaiting fresh data on jobs and home sales for greater insight into the U.S. economic picture. The latest weekly initial jobless claims data for the week ended July 4 is due later from the Department of Labor. The print is expected to show a jump to 218,000 benefits claims, up from 215,000 the previous week, according to consensus estimates. Investors are also anticipating the latest existing home sales data for June from the National Association of Realtors, which is forecast to show a modest increase in sales last month, following a 3.2% rise in May. Elsewhere, global energy prices eased in early trade Thursday after the U.S. carried out extensive strikes against Iranian military targets overnight, including air defenses, drone and missile sites. U.S. West Texas Intermediate futures dipped 0.98% to $72.82 per barrel, while the international oil benchmark Brent crude shed 1.12%, and was last seen at $77.15.

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Published on 10-07-2026 10:33 am

Government Security Market

* The Inter-bank call money rate traded in the range of 4.60%- 5.49% on Thursday ended at 5.30%.

* The 10 year benchmark (6.94% GS 2036) closed at 6.7517% on Thursday Vs at 6.7636% on Wednesday .

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Published on 10-07-2026 10:32 am

Global News

• Supply Risks Lift Oil Despite Inflation-Driven Demand Concerns: Oil prices edged lower on Friday but remained on course for a strong weekly gain, with Brent up around 6% and WTI about 5%, as renewed military strikes between the U.S. and Iran kept geopolitical tensions and supply disruption fears elevated. The conflict has delayed the full reopening of the Strait of Hormuz, a key route for nearly 20% of global oil and gas shipments, supporting crude prices. However, gains were capped by concerns that rising inflation could weaken global fuel demand, alongside strong U.S. labor market data and higher producer inflation in China. Market sentiment also found some relief after the U.S. avoided targeting Iran's energy infrastructure and President Donald Trump indicated that a return to a full-scale conflict is unlikely.

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