NIFTY TRADES ABOVE 24,050; MEDIA SHARE IN DEMAND

Published on Jul 09, 2026 11:34

The domestic equity benchmarks traded with modest gains in mid-morning trade, supported by foreign fund inflows and buying in blue-chip stocks. The Nifty traded above the 24,050 mark, while media shares advanced after declining over the past five trading sessions.

At 11:30 IST, the barometer index, the S&P BSE Sensex, jumped 664.76 points or 0.87% to 77,168.36. The Nifty 50 index rose 198.40 points or 0.83% to 24,080.45.

The broader market outperformed the frontline indices. The BSE 150 MidCap Index jumped 1.40% and the BSE 250 SmallCap Index added 1.46%.

The market breadth was strong. On the BSE, 2,777 shares rose and 1,036 shares fell. A total of 236 shares were unchanged.

Initial Public Offer (IPO):

Kusumgar received bids for 6,51,22,680 shares as against 1,14,68,094 shares on offer, according to stock exchange data at 11:22 IST on 09 July 2026. The issue was subscribed 5.68 times.

The issue opened for bidding on 08 July 2026 and will close on 10 July 2026. The price band of the IPO is fixed between Rs 398 and 419 per share. An investor can bid for a minimum of 39 equity shares and multiples thereof.

Laser Power & Infra received bids for 13,59,400 shares as against 2,55,86,207 shares on offer, according to stock exchange data at 11:15 IST on 09 July 2026. The issue was subscribed 0.05 times.

The issue opened for bidding on 09 July 2026 and will close on 13 July 2026. The price band of the IPO is fixed between Rs 203 and 214 per share. An investor can bid for a minimum of 70 equity shares and multiples thereof.

Buzzing Index:

The Nifty Media index rose 1.81% to 1,478.80. The index tanked 4.45% in the past four trading sessions.

Tips Music (up 5.27%), D B Corp (up 4.35%), Saregama India (up 3.21%), 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%) rose.

Stocks in Spotlight:

Rajesh Power Services rose 4.49% after the company secured a Rs 653.12 crore turnkey contract from Paschim Gujarat Vij Company (PGVCL).

IRB Infrastructure Developers added 1.80% after the company`s IRB Group reported an approximately 28% year-on-year (YoY) increase in toll revenue to Rs 808 crore in June 2026.

Global Markets:

Asian markets traded mostly lower on Thursday as renewed U.S.-Iran tensions and a jump in oil prices dampened the investor sentiment.

China`s annual inflation eased to 1.0% in June 2026 from 1.2% in May, below market expectations of 1.1%, marking the slowest pace in three months. Consumer prices fell 0.3% month-on-month, while core inflation eased to 1.0% YoY.

The U.S. launched fresh strikes on Iran in response to Tehran�s attacks on commercial shipping in and around the Strait of Hormuz, U.S. Central Command said Wednesday afternoon.

Earlier in the day, President Donald Trump said he may no longer be interested in negotiating a deal with Iran. Prior to that, he said that the ceasefire between the U.S. and Tehran is �over� after another wave of attacks in the Middle East.

Overnight on Wall Street, the Dow Jones Industrial Average pulled back from record levels on Tuesday as investors once again appeared to rotate out of names tied to artificial intelligence and as oil prices advanced.

The 30-stock index lost 130.76 points, or 0.25%, after earlier hitting a new all-time intraday high. Ultimately, the Dow closed at 52,925.15. The Nasdaq Composite fell 1.16% to 25,818.69. The S&P 500 slid 0.45% to end at 7,503.85.