Sector Leaders Drive Market Momentum; Real Estate and PSU Banks Lead

Sectoral activity was a key driver behind the second straight day of gains in Indian equities on July 10. Nifty Real Estate posted the highest surge, climbing 3.49%, while Nifty PSU Bank followed closely with a 3.03% rise. These two segments outperformed the broader market and set the tone for the trading session.

Other notable contributors included Nifty IT, Nifty Metal, Nifty Financial Services and Nifty Private Bank, each delivering more than a 1% increase. The auto, healthcare, media and pharma indices also closed in the green, reinforcing the breadth of the rally. In contrast, the FMCG index slipped marginally by 0.08%.

The market breadth data highlighted that 2,756 stocks advanced versus 1,316 that declined, indicating strong participation across market caps. Mid‑cap and small‑cap indices were up 1.40% and 1.55% respectively, confirming that the rally was not limited to large‑cap stocks.

Top performers on the Nifty 50 list featured HDFC Life, Adani Enterprises, SBI Life Insurance, Axis Bank, BEL and Tech Mahindra. The laggards were Dr. Reddy’s Laboratories, Eternal, Bharti Airtel, Nestle India, Sun Pharma, ITC and Trent.

From a technical standpoint, the Nifty formed a modest bullish candlestick on the daily chart, with a small upper wick indicating restrained profit‑taking. The index successfully retested and stayed above its 100‑day EMA, while RSI values improved, signalling a potential continuation of the uptrend.

Looking forward, market participants will watch the 24,350‑24,400 resistance zone closely. A decisive break above this level could open pathways to 24,550 and beyond, whereas the 24,050‑24,000 band remains a crucial support tier.