Yes, the lamp glows for that moment.
While the two bare ends are apart, the circuit has a gap in it and no current flows. The instant you make them touch, the metal of one wire meets the metal of the other, the loop is completed and the lamp lights up.
Ends touching → circuit closed → lamp on
This test proves that the cell, the lamp and all the joints are working. Your conduction tester is now ready — whatever you place between the two free ends will take the place of that touch.