Barometers trade higher; private bank shares jump
Investors will continue to monitor developments in the US-Iran conflict, movements in crude oil prices, the ongoing Q1 earnings season, corporate business updates, and the progress of the southwest monsoon for further cues on market direction.
Private bank shares recovered after falling in the previous trading session.
At 11:25 IST, the barometer index, the S&P BSE Sensex advanced 479.41 points or 0.64% to 77,545.01. The Nifty 50 index added 133.95 points or 0.56% to 24,186.
In the broader market, the BSE 150 MidCap Index jumped 0.62% and the BSE 250 SmallCap Index climbed 0.97%.
The market breadth was strong. On the BSE, 2,495 shares rose and 1,346 shares fell. A total of 219 shares were unchanged.
IPO Update:
The initial public offer (IPO) of Alphine Texoworld received bids for 55.32 lakh shares as against 1.20 crore shares on offer, as per NSE data as of 11:21 hours on Wednesday (15 July 2026). The issue was subscribed 0.46 times.
The issue opened for bidding on Tuesday (14 July 2026) and it will close on Thursday (16 July 2026). The price band of the IPO is fixed between Rs 100 to Rs 105 per share. The minimum order quantity is 142 equity shares.
SBI Funds Management IPO received bids for 2.39 crore shares as against 14.51 crore shares on offer, according to stock exchange data at 11:21 IST on Wednesday (15 July 2026). The issue was subscribed 1.17 times.
The issue opened for bidding on 14 July 2026 and it will close on 16 July 2026. The price band of the IPO is fixed between Rs 545 and 574 per share. An investor can bid for a minimum of 26 equity shares and multiples thereof.
Buzzing Index:
The Nifty Private Bank index advanced 1.01% to 28,198. The index declined 0.85% in the past trading session.
Bandhan Bank (up 5.69%), IndusInd Bank (up 2.47%), Axis Bank (up 1.39%), ICICI Bank (up 1.13%) and HDFC Bank (up 0.93%), IDFC First Bank (up 0.71%), RBL Bank (up 0.57%), Kotak Mahindra Bank (up 0.51%), Yes Bank (up 0.51%) and Federal Bank (up 0.12%) advanced.
Stocks in Spotlight:
Sun Pharmaceutical Industries rose 0.89%. The company announced that it has received approval from the South African Health Products Regulatory Authority (SAHPRA) to manufacture and market a generic version of semaglutide injection in South Africa.
Belrise Industries rose 2.45% after the company announced the launch of its qualified institutional placement (QIP) issue and fixed the floor price at Rs 230.79 per equity share. The floor price of Rs 230.79 per share is at a discount of 0.65% to the scrip's previous closing price of Rs 232.30 on the BSE.
Global Markets:
Asian markets advanced on Wednesday after a surprise slowdown in U.S. inflation scaled back market expectations for interest rate hikes, while oil took a breather as the U.S. scrapped a plan to levy shipping through the Strait of Hormuz.
U.S. President Donald Trump reimposed a naval blockade of Iranian ports on Tuesday and threatened to attack power plants and bridges next week unless Iran resumes negotiations to end their conflict, though he scrapped a plan for a 20% fee on shipping through Hormuz.
Meanwhile, China?s economy in the second quarter expanded at its weakest pace since the fourth quarter of 2022. These figures reinforce calls for policy stimulus as an accelerating slide in investments deepened the strain on growth, while consumption stayed subdued.
Gross domestic product growth came in at 4.3% in the April to June period, data from the National Statistics Bureau showed Wednesday, missing widely reported forecast for 4.5% growth, and slowing from 5% in the first quarter.
That second-quarter growth came below Beijing?s full-year growth target range of 4.5% to 5%, the least ambitious goal in decades, amid tensions with trade partners, including the U.S. and the European Union, and sluggish domestic demand.
The S&P 500 and the Nasdaq advanced on Tuesday as solid big bank results and a cooler-than-expected inflation report boosted risk appetite amid rising Middle East tensions.
The U.S. headline consumer price index fell 0.4% in June, its first decline since the COVID-19 pandemic, while annualised core inflation of 2.6% compared with widely reported expectations for 2.8%.
The Labor Department's Consumer Price Index showed inflation cooled more than analysts expected in June, largely due to abating energy price pressures amid last month's signs of progress in U.S.-Iran peace negotiations.
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