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.

Media shares advanced after registering losses in the last two consecutive trading sessions.

At 11:25 IST, the barometer index, the S&P BSE Sensex advanced 255.08 points or 0.35% to 77,458.48. The Nifty 50 index added 73.45 points or 0.31% to 24,151.95.

In the broader market, the BSE 150 MidCap Index rose 0.25% and the BSE 250 SmallCap Index climbed 0.25%.

The market breadth was positive. On the BSE, 2,211 shares rose and 1,641 shares fell. A total of 216 shares were unchanged.

IPO Update:

The initial public offer (IPO) of Alphine Texoworld received bids for 1.21 crore shares as against 1.20 crore shares on offer, as per NSE data as of 11:15 hours on Thursday (16 July 2026). The issue was subscribed 1.01 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 58.47 crore shares as against 12.45 crore shares on offer, according to stock exchange data at 11:15 IST on Thursday (16 July 2026). The issue was subscribed 4.69 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. An investor can bid for a minimum of 26 equity shares and multiples thereof.

Buzzing Index:

The Nifty Media index jumped 1.42% to 1,525. The index fell 0.70% in past two consecutive trading sessions.

Prime Focus (up 8.88%), Zee Entertainment Enterprises (up 3.16%), D B Corp (up 1.97%), PVR Inox (up 0.79%) and Tips Music (up 0.62%), Nazara Technologies (up 0.58%) and Sun TV Network (up 0.28%) surged.

Stocks in Spotlight:

Emmvee Photovoltaic Power jumped 8.91% 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.

HDFC Life Insurance Company shed 0.54%. 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.

Global Market:

Asian shares fell 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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