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Below the Quote on Daily Market Commentary for July 10th 2026 by Siddhartha Khemka, Motilal Oswal Financial Services Ltd

Indian equity markets are expected to sustain their gradual upmove on the back of supportive domestic fundamentals and improving global cues. Nifty ended higher for second consecutive day, and closed with gains of 1.1% on Friday. Broader market maintained their outperformance with the Nifty Midcap 100 and Nifty Smallcap 100 indices gaining 1.4% and 1.6%, respectively. The Nifty IT index would be in focus after TCS reported an inline June quarter earnings while its management commentary suggested expectations of a gradual recovery in technology spending from the second quarter. Next week will see results from other IT majors including HCL Tech, LTTS, Wipro, Tata Tech. Defence stocks remained in focus, supported by strategic acquisitions and continued partnerships. Sentiment was further boosted after India and Australia signed 18 agreements across civil nuclear energy, defence, maritime security, critical minerals, cyber cooperation and trade, strengthening the long-term outlook for the sector. The Nifty PSU Bank index gained nearly 3%, led by Indian Bank following its strong Q1 FY27 results, while metal stocks extended gains amid a weaker US dollar, which supported global commodity prices.

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