The domestic benchmark indices ended with moderate gains on Wednesday, supported by positive global cues after softer-than-expected U.S. inflation data eased concerns over further interest rate hikes by the Federal Reserve. The Nifty settled above 24,050 mark.

Investor sentiment was also supported by strong demand in the primary market, as the SBI Funds Management IPO garnered more than 200% subscription on its second day of bidding, reflecting sustained investor interest despite prevailing geopolitical uncertainties.

Going ahead, investors will closely monitor further 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 cues on the market's near-term direction.

PSU Bank, consumer durables and oil & gas shares advanced while IT, FMCG and media shares declined.

As per provisional closing data, the barometer index, 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.

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, 2,317 shares rose and 1,957 shares fell. A total of 175 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.

In the commodities market, Brent crude for September 2026 settlement added 69 cents or 0.81% to $85.42 a barrel.

New Listing:

Shares of Kusumgar ended at Rs 604.45 on the BSE, representing a premium of 44.26% as compared with the issue price of Rs 419.

The stock debuted at Rs 574, marking a premium of 36.99% to the issue price.

The stock has hit a high of Rs 631.55 and a low of Rs 567.95. On the BSE, over 35.90 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 86.37 lakh shares as against 1.20 crore shares on offer, as per NSE data as of 15:30 hours on Wednesday (15 July 2026). The issue was subscribed 0.72 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 31.03 crore shares as against 12.45 crore shares on offer, according to stock exchange data at 15:30 IST on Wednesday (15 July 2026). The issue was subscribed 2.49 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 PSU Bank index declined 0.97% to 8,384.85. The index declined 1.80% in the past trading session.

Bank of India (up 2.42%), Central Bank of India (up 1.61%), State Bank of India (up 1.49%), Union Bank of India (up 1.21%), Bank of Maharashtra (up 0.89%), Bank of Baroda (up 0.69%), Punjab National Bank (up 0.69%), Canara Bank (up 0.57%), UCO Bank (up 0.42%) and Indian Overseas Bank (up 0.42%) surged.

Stocks in Spotlight:

L&T Technology Services (LTTS) jumped 6.46% 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 0.91%. 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 6.21% 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 8.08% 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 8.68% 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 4.60%. 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 4.49% 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 4.25%. 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.

Global Markets:

US Dow Jones futures added 76 points, indicating a positive start for Wall Street later today.

European markets declined as ongoing U.S. strikes on Iran continued to weigh on investor sentiment.

Most Asian markets ended higher 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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