Nifty trades above 24,150; IT shares in demand
At 11:30 IST, the barometer index, the S&P BSE Sensex, jumped 681.95 points or 0.89% to 77,423.77. The Nifty 50 index rose 251.10 points or 0.86% to 24,167.75.
The broader market outperformed the frontline indices. The BSE 150 MidCap Index added 1.15% and the BSE 250 SmallCap Index rose 1.10%.
The market breadth was strong. On the BSE, 2,716 shares rose and 1,173 shares fell. A total of 229 shares were unchanged.
Initial Public Offer (IPO):
Kusumgar received bids for 27,23,16,555 shares as against 1,14,68,094 shares on offer, according to stock exchange data at 11:14 IST on 10 July 2026. The issue was subscribed 23.75 times.
The issue opened for bidding on 08 July 2026 and it will close on 10 July 2026. The price band of the IPO is fixed between Rs 398 and 419 per share. An investor can bid for a minimum of 39 equity shares and multiples thereof.
Laser Power & Infra received bids for 75,81,420 shares as against 2,55,86,207 shares on offer, according to stock exchange data at 11:15 IST on 10 July 2026. The issue was subscribed 0.30 times.
The issue opened for bidding on 09 July 2026 and it will close on 13 July 2026. The price band of the IPO is fixed between Rs 203 and 214 per share. An investor can bid for a minimum of 70 equity shares and multiples thereof.
Buzzing Index:
The Nifty IT index rose 1.75% to 27,950.95. The index fell 1.67% in the previous two trading sessions.
Coforge (up 2.89%), Persistent Systems (up 2.88%), Oracle Financial Services Software (up 2.78%), Mphasis (up 2.64%), LTM (up 2.36%), Wipro (up 1.9%), Tech Mahindra (up 1.71%), Infosys (up 1.62%), HCL Technologies (up 1.51%) and Tata Consultancy Services (up 1.45%) rose.
Stocks in Spotlight:
HFCL rose 2.30% after it secured an international order worth approximately $51.98 million (around Rs 495.8 crore) for the supply of optical fiber cable-based data centre connectivity solutions.
Apollo Micro Systems added 2.65% after the company signed a definitive share purchase agreement (SPA) to acquire a 41.33% promoters' stake in Premier Explosives for Rs 1,550 crore in an all-cash transaction.
Global Markets:
Asian stocks traded higher on Friday, led by chip and AI firms as investors brushed off concern over the stalled recovery of energy supplies through the critical Strait of Hormuz, with tit-for-tat attacks escalating between the U.S. and Iran.
The renewed back-and-forth attacks have further eroded the fragile three-week-old ceasefire, bringing the spotlight back on oil prices and what it could mean for inflation and the global rates outlook.
Brent crude futures were set for a 5% rise in the week, their strongest weekly performance since early May. But at $76.03 per barrel, Brent has given up most of the gains it picked up when the conflict began at the end of February.
Attention will be on SK Hynix's U.S. market debut later on Friday after the firm priced its American Depositary Receipts at $149 on Thursday, raising about $26.5 billion, indicating strong investor appetite to gain exposure in the AI supply chain.
The blockbuster offering, which will finance new factories and equipment to meet surging AI chip demand, is set to be the world's second-biggest share sale after SpaceX's record-breaking IPO last month.
Overnight on Wall Street, stocks rose on Thursday, bolstered by a jump in semiconductors and a fall in oil prices, as equity markets tried to recover in spite of renewed U.S.-Iran tensions.
The Nasdaq Composite gained 1.30% to 26,206.89, while the S&P 500 rose 0.81% to 7,543.64. The Dow Jones Industrial Average added 139.02 points, or 0.27%, to 52,487.41.
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