Equity

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.

Private bank shares rebounded after declining in the last trading session.

At 11:25 IST, the barometer index, the S&P BSE Sensex advanced 670.91 points or 0.86% to 77,852.13. The Nifty 50 index added 167.35 points or 0.70% to 24,243.35.

In the broader market, the BSE 150 MidCap Index declined 0.52% and the BSE 250 SmallCap Index fell 1.19%.

The market breadth was weak. On the BSE 1,461 shares rose and 2,348 shares fell. A total of 217 shares were unchanged.

IPO Update:

The initial public offer (IPO) of Caliber Mining and Logistics received bids for 30.29 lakh shares as against 78.35 lakh shares on offer, as per NSE data as of 11:18 hours on Friday (17 July 2026). The issue was subscribed 0.39 times.

The issue opened for bidding on Friday (17 July 2026) and it will close on Tuesday (21 July 2026). The price band of the IPO is fixed between Rs 402 to Rs 424 per share. The minimum order quantity is 35 equity shares.

Buzzing Index:

The Nifty Private Bank index jumped 1.27% to 28,271.45. The index fell 0.31% in the past trading session.

Federal Bank (up 2.3%), Kotak Mahindra Bank (up 1.71%), Axis Bank (up 1.47%), HDFC Bank (up 1.37%) and ICICI Bank (up 1.08%), IndusInd Bank (up 1.04%), RBL Bank (up 0.8%), IDFC First Bank (up 0.33%) advanced.

Stocks in Spotlight:

WeWork India Management fell 4.87% after the company reported a consolidated net loss for the June 2026 quarter. The company's net loss narrowed to Rs 4.31 crore in Q1 FY27 from a loss of Rs 14.10 crore in Q1 FY26. However, on a sequential basis, it slipped into a loss from a profit of Rs 65.55 crore reported in Q4 FY26. Revenue from operations increased 27.74% YoY but declined 1.76% QoQ to Rs 683.83 crore in the June 2026 quarter.

ITC Hotels fell 1.01% after it has reported 35.42% increase in consolidated net profit to Rs 180.25 crore on a 14.77% rise in revenue from operations to Rs 936.02 crore in Q1 FY27 over Q1 FY26.

Global Market:

Asian markets traded lower on Friday as the drag from chipmakers weighed on global equity indexes, while oil prices were set for their sharpest weekly rise in three months as tensions in the Middle East erupted anew.

Investors this week reportedly rotated out of semiconductor plays into other sectors such as banking after robust earnings from major lenders, leaving Asia vulnerable to the selloff given its heavier exposure to chips.

Markets in South Korea were closed for a holiday, after the government on Thursday announced it will temporarily ban new listings of exchange-traded funds (ETFs) that are tied ⁠to certain major technology firms, while raising minimum required deposits for retail investors to invest in such products, in an effort to curb volatility.

The U.S. began conducting a new wave of strikes against Iran on Thursday to further degrade Iranian military capabilities, the U.S. Central Command said in a statement.

Overnight on Wall Street, chip stocks pulled the Nasdaq and the S&P 500 lower on Thursday as they continued to lead broader market moves despite generally upbeat U.S. economic data and a strong start to second-quarter earnings season.

The Dow Jones Industrial Average (DJI) fell 105.32 points, or 0.20%, to 52,553.32, the S&P 500 (SPX) lost 38.63 points, or 0.51%, to 7,533.77 and the Nasdaq Composite (IXIC) lost 387.28 points, or 1.47%, to 25,881.95.

On the data front, a spate of U.S. economic indicators released on Thursday showed solid core retail sales, a drop in jobless claims ⁠and surging manufacturing activity in the Northeast.

Less positive data came from the housing sector, with a bigger than expected drop in pending home sales and souring homebuilder sentiment reflecting high borrowing costs and strained affordability for would-be homebuyers.

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