The domestic benchmark indices ended on a flat note on Thursday as investors remained cautious amid the escalating US-Iran conflict, which intensified concerns over potential impact on inflation. Market sentiment was also influenced by stock-specific action as participants reacted to the ongoing Q1 FY27 earnings season. Nifty settled below 24,100 level. Investors remained on the sidelines ahead of Reliance Industries' June-quarter results, scheduled to be announced after market hours on Friday.

Going ahead, investors will closely monitor further developments in the US-Iran conflict, movements in crude oil prices, the ongoing Q1 earnings season and the progress of the southwest monsoon for cues on the market's near-term direction.

Consumer durables, media and IT shares advanced while realty, PSU Bank and metal shares declined.

As per provisional closing data, the barometer index, the S&P BSE Sensex advanced 1.44 points or 0.00% to 77,186.67. The Nifty 50 index fell 5.75 points or 0.02% to 24,072.75.

In the broader market, the BSE 150 MidCap Index fell 0.30% and the BSE 250 SmallCap Index jumped 0.10%.

The market breadth was negative. On the BSE, 2,012 shares rose and 2,224 shares fell. A total of 213 shares were unchanged.

The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, declined 2.92% to 12.88.

In the commodities market, Brent crude for September 2026 settlement declined 33 cents or 0.39% to $84.62 a barrel.

New Listing:

Laser Power & Infra made a strong market debut, with its shares closing at Rs 264.35 on the BSE, 23.53% above the issue price of Rs 214.

The stock debuted at Rs 269, marking a premium of 25.7% to the issue price.

The stock has hit a high of Rs 269.80 and a low of Rs 250. On the BSE, over 67.46 lakh shares of the company were traded in the counter.

Initial Public Offer (IPO):

The initial public offer (IPO) of Alphine Texworld received bids for 1.63 crore shares as against 1.20 crore shares on offer, as per NSE data as of 15:30 hours on Thursday (16 July 2026). The issue was subscribed 1.36 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 514.74 crore shares as against 12.45 crore shares on offer, according to stock exchange data at 15:30 IST on Thursday (16 July 2026). The issue was subscribed 41.32 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 Consumer Durables index jumped 1.39% to 8,384.85. The index declined 0.77% in the past two trading sessions.

Dixon Technologies (India) (up 6.37%), PG Electroplast (up 3.53%), Amber Enterprises India (up 2.1%), LG Electronics India (up 1.54%), Titan Company (up 1%), Kajaria Ceramics (up 0.48%), Whirlpool of India (up 0.37%), Crompton Greaves Consumer Electricals (up 0.23%) surged.

India-UK Pact:

The India'United Kingdom Comprehensive Economic and Trade Agreement (CETA), along with the Agreement on Social Security, also known as the Double Contribution Convention (DCC), formally entered into force yesterday, marking a major milestone in the economic partnership between the two countries.

In a post on social media, Union Minister of Commerce and Industry Piyush Goyal said that the entry into force of the India'UK Comprehensive Economic and Trade Agreement (CETA) and the Agreement on Social Security marks a defining milestone in India'UK relations. This provides zero-duty market access for nearly 99% of India's exports and covering almost 100 per cent of trade value.

The Minister noted that the Agreement creates unprecedented opportunities for sectors including textiles, leather, gems and jewellery, engineering goods, marine products, chemicals and processed foods, while benefiting MSMEs, farmers and manufacturers. He further observed that the Agreement opens new opportunities for India's IT, professional, financial, education and business services sectors and expands mobility for Indian talent.

Stocks in Spotlight:

ABB India surged 6.37% after its global parent, ABB Ltd, reported strong second-quarter results and said order inflows from India grew 81% year-on-year during the quarter. The reported growth significantly exceeded market expectations. According to consensus estimates, analysts had expected India order inflows to increase by around 20%. The 81% jump marks one of the strongest performances for ABB's India business in recent years.

HDFC Life Insurance Company rose 0.01%. The company reported standalone net profit of Rs 611.19 crore in Q1 FY27, up 11.89% as against Rs 546.46 crore in Q1 FY26. Net premium income rose 14.39% year on year (YoY) to Rs 16,547.97 crore in Q1 FY27 over Q1 FY26.

Jana Small Finance Bank advanced 1.68% after the bank reported 52% rise in net profit to Rs 155 crore on a 18.4% increase in operating income to Rs 1,009 crore in Q1 FY27 as compared with Q1 FY26.

Mangalore Refinery and Petrochemicals (MRPL) surged 10.34% after the company reported a consolidated net profit of Rs 916.69 crore in Q1 FY27, compared with a net loss of Rs 271.33 crore in Q1 FY26. Revenue from operations (excluding net excise duty) jumped 120.4% year on year (YoY) to Rs 38,254.19 crore in the quarter ended 30 June 2026.

Lotus Chocolate Company fell 6.54% after the company's standalone net profit declined 99.32% year-on-year to Rs 0.02 crore in Q1 FY27, compared with Rs 2.99 crore in the same period last year. Revenue from operations declined 42.06% year-on-year to Rs 91.95 crore in Q1 FY27, from Rs 158.71 crore in Q1 FY26.

Emmvee Photovoltaic Power jumped 8.02% after the solar module and cell manufacturer reported record Q1 FY27 earnings, driven by higher production volumes, improved cell integration and operating leverage. The company's net profit surged 102.61% YoY, while declining 3.08% QoQ, to Rs 380.30 crore in Q1 FY27. Revenue from operations increased 51.34% YoY but declined 10.54% QoQ to Rs 1,555.50 crore in the June 2026 quarter.

Angel One declined 2.53%. the broker reported a robust financial performance for the quarter ended 30 June 2026, with consolidated net profit surging 102.14% year on year to Rs 231.40 crore in Q1 FY27 from Rs 114.47 crore in the corresponding quarter of the previous year. Total revenue from operations jumped 25.35% YoY to Rs 1,429.69 crore in the quarter ended 30 June 2026.

ICICI Lombard General Insurance plunged 10.45% after the company reported a 46.03% YoY decline in standalone net profit to Rs 403.17 crore for Q1 FY27, compared with Rs 747.08 crore in the corresponding quarter last year. However, total income rose 12% YoY to Rs 6,813.71 crore in the quarter ended 30 June 2026.

Global Market:

US Dow Jones futures added 108 points, indicating a positive start for Wall Street later today.

European markets declined despite UK economy expanded by 0.1% in May despite higher energy costs stemming from the Iran conflict, according to official data. May's slight expansion in gross domestic product was led by 0.3% growth in services, Britain's Office for National Statistics said on Thursday. That was offset by falls of 0.5% in production and 0.8% in construction. The Office for National Statistics (ONS) said scientific research was the biggest contributor to monthly growth, with output in the sector rising 5.1%.

Asian markets mostly ended lower on Thursday as chipmakers stumbled ahead of result from bellwether Taiwan Semiconductor Manufacturing Co's (TSMC), the world's largest manufacturer of advanced AI chips.

Bonds, however, benefited from another benign reading on U.S. inflation that lessened the risk of an imminent rate hike.

In a related development, South Korea's central bank raised interest rates for the first time in three and half year period to 2.75% on Thursday to stabilise a slumping won and counter persistent inflationary pressure. The decision was largely as expected.

On the other side, oil prices kept climbing as hostilities heated up in the Middle East. Washington continued striking Iran after reimposing a naval blockade of its ports, while Tehran warned of an existential war with America.

Overnight in the US, Wall Street stocks gained ground on Wednesday as softening inflation data and a robust beginning of second-quarter earnings season put investors in a buying mood.

In regular trading, the Dow advanced 150.91 points, or 0.3%, to end the day at 52,659.18. The broad market S&P gained 0.4%, finishing at 7,572.43, and the tech heavy Nasdaq Composite rose 0.6% to 26,269.23.

A softer-than-expected U.S. producer price index added to optimism that inflation is cooling, helping lift equities and providing some comfort to investors that the Federal Reserve will keep key interest rates on hold.

The U.S. produce price index dropped 0.3% in June from 1.1% in May 2026.

Additionally, strong earnings from major financial firms reassured investors that earnings growth remains intact, despite easing inflation, while lower Treasury yields boosted demand for growth stocks, particularly mega-cap technology companies.

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