The key equity indices traded with moderate gains in mid-morning trade, supported by positive global cues. Investors will closely monitor IPO activity, the India-US trade deal, and developments on the tariff front. The Nifty hovered above 25,100 level
Private bank shares advanced after declining in the past trading session.
At 11:30 IST, the barometer index, the S&P BSE Sensex advanced 230.28 points or 0.28% to 82,420.21. The Nifty 50 index added 66.25 points or 0.27% to 25,128.55.
In the broader market, the S&P BSE Mid-Cap index fell 0.25% and the S&P BSE Small-Cap index dropped 0.19%.
The market breadth was positive. On the BSE, 1,642 shares rose and 2,064 shares fell. A total of 218 shares were unchanged.
IPO update:
The initial public offer (IPO) of Indiqube Spaces bids for 35,86,464 shares as against 1,71,48,335 shares on offer, according to stock exchange data at 11:15 IST on Wednesday (23 July 2025). The issue was subscribed 0.21 times.
The issue opened for bidding on Wednesday (23 July 2025) and it will close on Friday (25 July 2025). The price band of the IPO is fixed at Rs 225-237 per share. An investor can bid for a minimum of 63 equity shares and in multiples thereof.
The initial public offer (IPO) of GNG Electronics bids for 2,45,36,232 shares as against 1,41,88,644 shares on offer, according to stock exchange data at 11:15 IST on Wednesday (23 July 2025). The issue was subscribed 1.73 times.
The issue opened for bidding on Wednesday (23 July 2025) and it will close on Friday (25 July 2025). The price band of the IPO is fixed at Rs 225-237 per share. An investor can bid for a minimum of 63 equity shares and in multiples thereof.
Buzzing Index:
The Nifty Private Bank index rose 0.25% to 27,914.25. The index declined 0.13% in the past trading session.
RBL Bank (up 0.68%), Axis Bank (up 0.45%), Kotak Mahindra Bank (up 0.37%), Federal Bank (up 0.21%), ICICI Bank (up 0.19%), HDFC Bank (up 0.14%), IndusInd Bank (up 0.06%) advanced.
Stocks in Spotlight:
Biocon advanced 1.34% after the company said that Biocon Biologics (BBL) has launched Nepexto, a biosimilar to the reference product Enbrel (Etanercept), in Australia.
United Breweries shed 0.68%. The company consolidated net profit jumped 5.95% to Rs 183.87 crore in Q1 FY26, compared to Rs 173.55 crore posted in the corresponding quarter last year.
Global Markets:
Markets in Asian traded in the green, with Nikkei leading the gains, after President Donald Trump announced the signing of a "massive” trade deal with Japan.
The deal includes reciprocal tariffs of 15% on the country’s exports to the U.S., with auto duties reportedly being lowered to that level as well.
Japanese Prime Minister Shigeru Ishiba reportedly said that he needed to examine the deal before commenting.
Additionally, the news that Washington had reportedly achieved agreements with the Philippines and Indonesia encouraged investors, giving them hope that other nations may also reach arrangements to avoid the worst of the US president's levies.
The announcements boosted hopes that other deals could be in the pipeline, though talks with the European Union and South Korea reportedly remain elusive for now.
Equity markets have been rising in recent weeks on hope that countries will eventually sign trade deals with the US. This is despite the fact that there haven't been many agreements reached with Trump, despite the deadline of 01 August 2025.
On Wall Steet, the Dow Jones Industrial Average and other indexes eased off the day's highs while the S&P 500 set another new high in the final minutes of trading Tuesday, as investors grinded though countless quarterly financial results.
According to media reports, the S&P 500 companies are expected to report a 7% increase in earnings on average for the second quarter, with technology heavyweights driving much of that gain.
Meanwhile, U.S. trade policy remains a major point of uncertainty for investors and companies as Trump's self-imposed 01 August deadline for many countries to reach agreements with the White House approaches.
On Tuesday, GM tumbled after the automaker reported a $1 billion hit from tariffs to its quarterly results, adding more fuel to investor concerns about U.S. President Donald Trump's global trade policy.
The recent rally in Wall Street’s most valuable companies has been fueled by the optimism about heavy spending on artificial intelligence.
Following the mixed economic data released last week, reports suggest that the market has trimmed its expectations about interest-rate cuts from the U.S. Federal Reserve at next week's policy meeting. The market now expects about a 60% chance of a reduction in rates at the September meeting.