Market Overview

The domestic equity indices exhibited modest growth in mid-morning trading, buoyed by foreign fund inflows and solid performances from blue-chip stocks. The Nifty index registered a position above the 24,050 mark, with a notable increase in media sector shares following a decline over the preceding five trading days.

As of 11:30 IST, the S&P BSE Sensex experienced a significant uplift, gaining 664.76 points or 0.87% to reach 77,168.36. Concurrently, the Nifty 50 index rose by 198.40 points or 0.83% to stand at 24,080.45.

Broader market indicators have outpaced the primary indices, with the BSE 150 MidCap Index climbing 1.40% and the BSE 250 SmallCap Index increasing by 1.46%.

The market demonstrated a robust breadth. Out of 4,042 shares traded on the BSE, 2,777 shares appreciated in value while 1,036 shares depreciated. Additionally, 236 shares remained unchanged.

Initial Public Offerings (IPOs)

The IPO of Kusumgar saw a significant response, with bids received for 6,51,22,680 shares against 1,14,68,094 shares available, indicating a subscription rate of 5.68 times, as reported at 11:22 IST on 09 July 2026. The issue, which opened for bidding on 08 July 2026, is set to close on 10 July 2026, with a price band established between Rs 398 and 419 per share. Investors can bid for a minimum of 39 equity shares and additional multiples thereof.

In a contrasting trend, the IPO of Laser Power & Infra received 13,59,400 bids against an offer of 2,55,86,207 shares, reflecting a 0.05 times subscription rate as of 11:15 IST on 09 July 2026. This issue, which opened on 09 July 2026, will conclude on 13 July 2026 and has a price range fixed between Rs 203 and 214 per share, allowing investors to bid for a minimum of 70 equity shares and multiples thereof.

Sector Performance

The Nifty Media index witnessed a notable increase of 1.81% to reach a value of 1,478.80, recovering after a decline of 4.45% in the previous four trading sessions. Significant gains were observed in several media-related stocks including Tips Music (up 5.27%), D B Corp (up 4.35%), and Saregama India (up 3.21%). Other notable performers included Prime Focus (up 3.18%), Nazara Technologies (up 3.06%), Hathway Cable & Datacom (up 1.85%), PVR Inox (up 1.2%), Sun TV Network (up 1.11%), and Network 18 Media & Investments (up 0.87%).

Highlighted Stocks

Rajesh Power Services observed a rise of 4.49% following the announcement of a significant turnkey contract valued at Rs 653.12 crore from Paschim Gujarat Vij Company (PGVCL).

IRB Infrastructure Developers also experienced a 1.80% increase as the company’s IRB Group reported a year-on-year (YoY) appreciation of approximately 28% in toll revenue, tallying Rs 808 crore for June 2026.

Global Market Insights

Asian markets predominantly trended lower on Thursday due to heightened tensions between the U.S. and Iran, alongside a surge in oil prices that affected investor sentiment.

In China, the annual inflation rate eased to 1.0% in June 2026 from 1.2% in May, falling short of market predictions of 1.1%. Monthly consumer prices decreased by 0.3%, while core inflation stabilized at 1.0% YoY.

The U.S. has initiated new military strikes on Iran in response to attacks on commercial shipping in and around the Strait of Hormuz, as reported by U.S. Central Command. This escalation follows remarks from President Donald Trump, who stated his diminishing interest in negotiating with Iran amidst ongoing conflicts in the region.

On Wall Street, the Dow Jones Industrial Average retreated from record highs, down 130.76 points or 0.25%, settling at 52,925.15. The Nasdaq Composite fell 1.16% to end at 25,818.69, while the S&P 500 decreased by 0.45% to close at 7,503.85.