Sensex rises 130 pts, Nifty tops 24,050 as financials offset IT weakness
Domestic equity benchmarks surrendered most of their intraday gains on Wednesday as investors booked profits amid renewed concerns over escalating US-Iran tensions and rising crude oil prices. After climbing to an intraday high of 24,220.35, the Nifty pared gains to close at 24,078.50. Financial stocks, which led the early rally following softer-than-expected U.S. inflation data, remained among the top gainers, while IT shares came under pressure after IBM issued weaker-than-expected guidance. Investor sentiment turned cautious as Brent crude hovered around $86 a barrel amid concerns over potential disruptions to global energy supplies. Technically, the Nifty faces immediate resistance in the 24,200-24,250 zone, while 24,000 remains a crucial support level.
The S&P BSE Sensex advanced 130.49 points or 0.17% to 77,185.43. The Nifty 50 index gained 26.45 points or 0.11% to 24,078.50. In the past three consecutive trading sessions, the Nifty lost 1.38%, while the Sensex fell 1.45%.
Eternal (up 2.80%), HDFC Bank (up 0.69%) and ICICI Bank (up 0.24%) supported the Nifty today.
The broader market outperformed the frontline indices. The BSE 150 MidCap Index rose 0.55% and the BSE 250 SmallCap Index jumped 0.69%.
The market breadth was positive. On the BSE, 2,297 shares rose and 1,974 shares fell. A total of 178 shares were unchanged.
The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, declined 3.49% to 13.27.
Numbers to Track:
The yield on India's 10-year benchmark federal paper shed 0.35% to 6.773 compared with the previous session close of 6.797.
In the foreign exchange market, the rupee edged lower against the dollar. The partially convertible rupee was hovering at 96.3200 compared with its close of 96.1600 during the previous trading session.
MCX Gold futures for 5 August 2026 settlement fell 0.64% to Rs 141,301.
The US Dollar Index (DXY), which tracks the greenback's value against a basket of currencies, was up 0.06% to 100.99.
The United States 10-year bond yield rose 0.41% to 4.604.
In the commodities market, Brent crude for September 2026 settlement rose 89 cents or 1.05% to $85.62 a barrel.
Global Markets:
European indices traded lower on Wednesday as escalating U.S.-Iran tensions and higher crude oil prices continued to weigh on investor sentiment. Eurozone industrial production fell 0.2% month-on-month in May, against expectations of a 0.2% increase, while annual output declined 1.2%, reversing April's 0.4% growth.
Asian indices ended mostly higher after softer-than-expected U.S. inflation data eased concerns over further interest rate hikes. However, gains were capped by lingering geopolitical tensions in the Middle East, despite reports that the U.S. had dropped a proposal to impose a 20% levy on shipping through the Strait of Hormuz. U.S. President Donald Trump also reiterated his hardline stance on Iran, including maintaining a naval blockade of Iranian ports and warning of further military action unless Tehran resumes negotiations.
Meanwhile, China's economy grew 4.3% year-on-year in the April-June quarter, its slowest pace since the fourth quarter of 2022 and below market expectations of 4.5%, highlighting persistent weakness in domestic demand and reinforcing expectations of additional policy support.
Overnight, the S&P 500 and Nasdaq Composite advanced after cooler-than-expected U.S. inflation and strong earnings from major banks boosted risk appetite despite geopolitical uncertainties. U.S. consumer prices fell 0.4% month-on-month in June, the largest monthly decline since April 2020, while annual inflation eased to 3.5% from 4.2% in May. Core inflation stood at 2.6%, below market expectations, reducing expectations of near-term Federal Reserve rate hikes. Investors now await U.S. producer price index (PPI) data for further clues on the inflation and interest rate outlook.
New Listing:
Shares of Kusumgar ended their debut session at Rs 604.45 on the BSE, a 44.26% premium to the issue price of Rs 419.
The stock listed at Rs 574, reflecting a 36.99% premium over the issue price. During the day, it touched a high of Rs 631.55 and a low of Rs 567.95. More than 35.90 lakh shares changed hands on the BSE.
Stocks in Spotlight:
L&T Technology Services (LTTS) jumped 6.50% after the engineering and technology services company reported a healthy increase in profit and revenue for the quarter ended 30 June 2026 (Q1 FY27). On a consolidated basis, net income from continuing operations increased 17.4% YoY and 1.5% QoQ to Rs 351.8 crore in Q1 FY27. Revenue increased 11.5% YoY and 2.9% QoQ to Rs 2,940.1 crore during the quarter.
Union Bank of India rose 0.96%. The bank reported a 29.57% rise in net profit to Rs 5,332.30 crore on a 1.28% increase in total income to Rs 31,806.20 crore in Q1 FY27 as compared with Q1 FY26.
Billionbrains Garage Ventures (Groww) jumped 6.46% after the company reported strong earnings for the quarter ended 30 June 2026 (Q1 FY27), supported by improved operating leverage. On a consolidated basis, net profit increased 7.1% QoQ and 94.28% YoY to Rs 735 crore in Q1 FY27. Revenue from operations declined 0.26% QoQ but rose 66.01% YoY to Rs 1,501 crore.
Fedbank Financial Services surged 7.52% after the non-banking financial company (NBFC) reported a strong financial performance for the quarter ended 30 June 2026. The company's standalone net profit rose 52.49% to Rs 114.38 crore in Q1 FY27 from Rs 75.01 crore in the corresponding quarter last year. Revenue from operations increased 29.68% YoY to Rs 669.93 crore in Q1 FY27.
Aditya Birla Money declined 8.82% after the company reported a 27.7% year-on-year (YoY) decline in consolidated net profit to Rs 11.12 crore despite a 16% increase in revenue from operations to Rs 130.77 crore in Q1 FY27 over Q1 FY26.
Tata Elxsi declined 4.44%. The company has reported 18.2% rise in net profit to Rs 170.6 crore on a 14.5% increase in revenue from operations to Rs 1,021.1 crore in Q1 FY27 as compared with Q1 FY26.
Benares Hotels fell 1.05%. The company reported an 8.7% year-on-year (YoY) increase in standalone net profit to Rs 8.24 crore in the first quarter of FY27, compared with Rs 7.58 crore in Q1 FY26. Income from operations increased 35.5% YoY to Rs 33.88 crore in Q1 FY27 from Rs 25.01 crore in the corresponding quarter last year.
Den Networks declined 4.42% after the company reported a 35.52% decline in consolidated net profit to Rs 34.59 crore in Q1 FY27 as against Rs 53.64 crore posted in Q1 FY26. Revenue from operations rose 0.62% year on year to Rs 242.77 crore in the quarter ended 30 June 2026.
Anand Rathi Share and Stock Brokers dropped 4.34%. The broker?s consolidated net profit rose 2.36% to Rs 23.35 crore on 22.37% increase in total revenue from operations to Rs 246.10 crore in Q1 FY27 over Q1 FY26.
Steel Strips Wheels jumped 5.81% after the company reported a 47.01% YoY increase in consolidated net profit to Rs 69.45 crore in Q1 FY27. Revenue from operations rose 27.21% YoY to Rs 1,509.81 crore during the quarter.
Goa Carbon tanked 7.59% after the company reported a standalone net loss of Rs 6.58 crore in Q1 FY27, compared with a net loss of Rs 7.95 crore in the year-ago quarter. Revenue from operations declined 67.04% YoY to Rs 65.64 crore.
Initial Public Offer (IPO):
SBI Funds Management received bids for 33.44 crore shares as against 12.45 crore shares on offer, according to stock exchange data at 16:30 IST on Wednesday (15 July 2026). The issue was subscribed 2.69 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.
Alphine Texworld received bids for 94.92 lakh shares as against 1.20 crore shares on offer, as per NSE data as of 16:30 hours on Wednesday (15 July 2026). The issue was subscribed 0.79 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.
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