At 11:30 ST, the barometer index, the S&P BSE Sensex, jumped 296.81 points or 0.36% to 82,206.44. The Nifty 50 index rose 91.90 points or 0.37% to 25,246.85.

The broader market outperformed the frontline indices. The S&P BSE Mid-Cap index added 0.83% and the S&P BSE Small-Cap index rose 0.74%.

The market breadth was strong. On the BSE, 2,763 shares rose and 1,126 shares fell. A total of 188 shares were unchanged.

The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, surged 1.41% to 13.98.

IPO Update:

The initial public offer (IPO) of Shadowfax Technologies received bids for 5,74,91,640 shares as against 8,90,88,807 shares on offer, according to stock exchange data at 11:20 IST on Thursday (22 January 2026). The issue was subscribed 0.65 times.

The issue opened for bidding on Tuesday (20 January 2026) and it will close on Thursday (22 January 2026). The price band of the IPO is fixed between Rs 118 and 124 per share. An investor can bid for a minimum of 120 equity shares and in multiples thereof.

Buzzing Index:

The Nifty Media index added 1.84% to 1,378.90. The index rose 2.11% after declining over the previous three trading sessions.

Prime Focus (up 5.29%), Zee Entertainment Enterprises (up 4.08%), Saregama India (up 2.3%), Network 18 Media & Investments (up 1.53%), PVR Inox (up 1.5%), Sun TV Network (up 1.15%), Hathway Cable & Datacom (up 0.91%), and Nazara Technologies (up 0.67%) rose.

Stocks in Spotlight:

Hindustan Petroleum Corporation (HPCL) shed 0.44%. The company’s standalone net profit jumped 34.72% to Rs 4,072.49 crore in Q3 FY26 as against Rs 3,022.90 crore in Q3 FY25. The company's total income (excluding excise duty) rose 5.23% YoY to Rs 1,15,740.02 crore during the December 2025 quarter.

Zydus Lifesciences rose 1.08% after the company announced the launch of the world’s first biosimilar of Nivolumab in India under the brand name Tishtha, aimed at treating multiple types of cancer.

Global Markets:

Asian markets traded mixed on Thursday, tracking overnight gains on Wall Street after U.S. President Donald Trump dialed back his threat to impose tariffs on European countries over Greenland.

Trump also said at the World Economic Forum in Davos that he would not use force to acquire the Arctic island, calming nerves over a possible U.S. military action, adding that he had “formed the framework of a future deal with respect to Greenland,” along with NATO Secretary General Mark Rutte.

Meanwhile, South Korea’s economy unexpectedly shrank 0.3% on a quarterly basis in the October to December period, its sharpest contraction since 2022. Gross domestic product grew 1.5% year on year, while full-year economic growth slowed to 1%, the weakest since 2020, when output contracted 0.7% during the pandemic.

U.S. equities leaped on Wednesday after President Donald Trump called off new Europe tariffs, saying a deal framework has been reached over Greenland.

The Dow Jones Industrial Average surged 588.64 points, or 1.21%, to end at 49,007.23. The S&P 500 gained 1.16% and closed at 6,875.62, while the Nasdaq Composite advanced 1.18% to settle at 23,224.82.

Back in Washington, Supreme Court justices expressed skepticism about whether Trump has the authority to fire Lisa Cook as a Federal Reserve governor.

During oral arguments Wednesday, Justice Brett Kavanaugh told a Trump administration lawyer that arguments the president can fire Cook without judicial review “would weaken, if not shatter, the independence of the Federal Reserve."