Pre-Market 10 July 2026: Nifty Recovers After Sell-Off, US-Iran Tensions Persist, Crude Near $78: What’s Next?

Dalal Street recovered on Thursday after Wednesday's sharp sell-off. Buying was visible across the broader market, although fresh tensions in West Asia and higher crude oil prices kept gains in check.

The Sensex rose 238 points to close at 76,741.82, while the Nifty 50 gained 81 points to settle at 23,962.80. Mid- and small-cap stocks outperformed, with the Nifty Midcap 100 climbing 1.38% and the Nifty Smallcap 100 advancing 1.80%.

What Helped Markets Recover?

Value buying returned after the previous session's sharp decline, lifting benchmark indices.

The broader market showed stronger participation than the frontline indices. Investors added nearly ₹5 lakh crore in wealth as the market capitalisation of BSE-listed companies increased to around ₹476 lakh crore from ₹471.2 lakh crore.

Attention is gradually shifting towards the June-quarter earnings season and domestic economic indicators. Better rainfall conditions and improved valuations also supported sentiment.

At the same time, fresh hostilities between the US and Iran, along with higher crude oil prices, prevented a stronger recovery. Investors also assessed the latest US Federal Reserve meeting minutes, which highlighted persistent inflation risks.

How Did Global Markets Perform After Indian Market Hours?

Global markets traded with a positive bias, although geopolitical developments remained in focus.

Oil prices swung during the session after reports of fresh attacks on US military facilities in Qatar, Kuwait and Bahrain following another round of US strikes on Iranian targets.

Brent crude later eased 0.62% to around $77.54 per barrel after touching nearly $79 earlier in the day.

US markets closed higher.

• Dow Jones Industrial Average rose 0.27% to 52,487.41

• S&P 500 gained 0.81% to 7,543.64

• Nasdaq Composite advanced 1.30% to 26,206.89

Asian markets traded mixed.

• Nikkei 225 gained 924.80 points to 67,743.85

• Hang Seng fell 169.28 points to 24,030.18

• Singapore's Straits Times Index rose 64.31 points to 5,433.88

European markets closed mixed.

• FTSE stood at 10,472.45, down 16.59 points

• CAC traded at 8,326.62, up 73.96 points

GIFT Nifty Update

By 20:14 IST on 9 July, GIFT Nifty was trading at 24,043.50, up 49 points, or 0.20%. The futures contract was trading above Thursday's Nifty close of 23,962.80, indicating a firm start for Friday's session.

Key Levels To Watch For Nifty

Support Levels: 23,800-23,780

The 23,800-23,780 zone is seen as the first support area. If the index slips below 23,780, selling pressure could increase, with 23,600 and 23,450 becoming the next levels to watch.

Resistance Levels: 24,070-24,100

This remains the immediate hurdle for the Nifty. A move above this range would improve the near-term setup.

What Could Drive Markets On Friday?

The earnings season is beginning to take centre stage, with investors looking ahead to the first set of June-quarter results and corporate commentary.

Developments in West Asia will continue to be tracked closely after fresh attacks kept geopolitical tensions elevated. Oil prices are also likely to remain on the radar after Brent briefly approached the $79-a-barrel mark.

On the technical front, traders will watch whether the Nifty can move above the 24,070-24,100 resistance zone after Thursday's recovery.

Also Read - Market Wrap, 9 July 2026: D-Street Rebounds After Yesterday’s Bloodbath