Indian stock markets are set for a positive start today, with the GIFT Nifty climbing over 120 points following a tech-led rally in global markets. Investors are focusing on optimism around AI-related spending and lower oil prices, despite ongoing geopolitical tensions. Market participants will watch how domestic buying trends balance against recent foreign institutional selling.
Indian benchmark indices are expected to see a strong start this Friday, July 10, 2026, as GIFT Nifty futures rose by more than 120 points in early trading. This positive sentiment follows a robust performance across global markets, particularly in the United States and Asia, where technology stocks have been the primary drivers of growth.
Global Tech Rally and Market Sentiment
Investor confidence in major global markets was bolstered by strong gains in the technology sector overnight. The Nasdaq Composite led the charge in the US with a 1.3% rise, while the S&P 500 and Dow Jones also closed in positive territory. This global optimism is largely centered on expectations for sustained spending in artificial intelligence and anticipation of strong upcoming corporate earnings for the second quarter. Asian markets have followed this lead, with Japan's Nikkei and South Korea's Kospi showing notable gains, particularly among semiconductor and chip manufacturing companies.
Impact of Oil Prices on Local Equities
For Indian investors, the recent movement in crude oil prices is a key factor to monitor. Brent crude prices dipped slightly to approximately $76.2 a barrel, while WTI crude hovered near $72 a barrel. Although oil prices have seen some fluctuation due to geopolitical developments in the Middle East, they remain below the highs seen during previous periods of conflict. The current easing of oil prices generally provides a degree of relief for the Indian economy, which remains a significant importer of crude, potentially easing some pressure on domestic inflation and corporate profit margins.
Institutional Investor Trends
Market activity in the previous session highlighted a divergence between foreign and domestic investors. Foreign Institutional Investors (FIIs) ended a four-day buying trend by net selling Indian equities worth Rs 532 crore on July 9. However, this was largely offset by Domestic Institutional Investors (DIIs), who purchased equities worth over Rs 2,000 crore. This ongoing support from local institutions has been a stabilizing factor for the broader market. As trading begins, the key monitorable will be whether foreign investors resume buying or continue their net selling stance, and how individual sector indices, particularly IT and energy-related stocks, react to the global cues.