Sensex Today Rallies 712 Points | Nifty Tops 23,700 Mark | 3 Reasons Why Indian Share Market is Rising

Tue, 25 Jun Closing

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After opening the day on positive note, Indian share markets continued the momentum as the session progressed and ended on firm footing.

Equity market in India hit fresh all-time highs in trades on Tuesday led by a strong rally in large-cap private banking shares.

At the closing bell, the BSE Sensex stood higher by 712 points (up 0.9%).

Meanwhile, the NSE Nifty closed higher by 184 points (up 0.8%).

Axis Bank, HDFC Bank and ICICI Bank were among the top gainers today.

BPCL, Eicher Motors and ONGC on the other hand, were among the top losers today.

The GIFT Nifty was trading at 23,734 up by 198 points, at the time of writing.

For a comprehensive overview of key players in the financial sector, check out list of Fin Nifty Companies.

For impact of the Bank Nifty companies and comprehensive overview of the index, check out Equitymaster's Bank Nifty Companies list.

The BSE MidCap index ended 0.3% lower and BSE SmallCap index ended flat.

Sectoral indices are trading mixed with socks in banking sector, financial sector and IT sector witnessing most buying. Meanwhile stocks in power sector and realty sector witnessing selling pressure.

Shares of Raymond, Trent and CAMS hit their respective 52-week highs today.

Now track the biggest movers of the stock market using stocks to watch today section. This should help you keep updated with the latest developments...

The rupee is trading at 83.4 against the US$.

Gold prices for the latest contract on MCX are trading flat at Rs 71,814 per 10 grams.

Meanwhile, silver prices were trading flat at Rs 88,998 per 1 kg.

Here are three reasons why Indian Markets are rising today

#1 June F&O Expiry

With the new government in place, hopes of continuity in reforms and focus on its 100-day agenda, traders are seen taking bullish bets in the futures & options space.

With less than three days to go for the June series expiry, the Nifty Put Call Ratio (PCR) stood above 1; indicating presence of more put writing as against call writing. The highest OI was visible in 24,000, 24,500 and 25,000 Strike Calls.

Similarly, traders seemed to be a confident lot, with steady stock futures rollovers to the July series.

#2 Private Banks rally

Shares of private lenders which were seen underperforming state-run peers seem to be back on investors' radar. Banking shares hold significant weightage in the benchmark indices - the Sensex and the Nifty - hence a sharp movement in this shares, tends to impact the indices accordingly.

On Tuesday, Axis Bank and HDFC Bank rallied nearly 3% each to Rs 1,267 and Rs 1,717, respectively.

#3 FIIs up Long Bets

Following finalization of the government at the Centre, foreign institutional investors have covered their short positions, and steadily build long positions in the index futures. As of 24 June, FIIs net long in index futures rose to 1.44 it's highest in more than two months. FIIs held 59.1% net longs in index futures.

FIIs have been net buyers in index futures in the last seven straight trading sessions. FIIs have added around 1.83 lakh across index futures, which include Nifty, Bank Nifty and others.

Speaking of the stock market, two experienced fund managers, James Chanos (US) and Sankaran Naren (India), are concerned about high speculation and low margins of safety in their respective stock markets. This means there's a greater risk of losses if the market crashes.

The advice? Invest cautiously. Consider "stock market insurance".

Rahul Shah, Co-head of research at Equitymaster, talks about what exactly is this insurance and how does it work?

Tune into below video for more details.

Why Hitachi Energy India Share Price is Rising

In news from the power sector, Hitachi Energy India on 25 June announced that it has received an order worth Rs 7.9 bn from fellow subsidiary Hitachi Energy Australia Pty for the development of high voltage direct current links between Tasmania and Victoria.

Marinus Link is a project of national significance for Australia. It will play a fundamental role in Australia's energy ecosystem, and the company will play a crucial role in supporting it.

Through this deal, the firm will execute project Marinus Link, which will create voltage source converter (VSC) high voltage direct current (HVDC) links between Tasmania and Victoria for the supply of certain equipment.

These links will be used for the execution of another project -Burnie Converter Station and Latrobe Valley Converter Station.

The order is scheduled to be executed over four years.

Hitachi Energy was selected by Marinus Link Pty Ltd to supply an HVDC project in Australia. The firm will supply its HVDC Light VSC stations for the project and delivery of certain equipment will be executed from the company's factory in India.

Borosil Jumps 4%. Here's Why.

Moving on to news from the consumer durable sector, shares of Borosil Ltd jumped over 4% on 25 June, a day after the company informed that its board approved Qualified Institution Placement (QIP) at a floor price of Rs 331.8 per share. The company aims to raise up to Rs 2.5 bn through this route.

Earlier this year in January, the company's board approved raising funds aggregating up to Rs 2.5 bn via QIP.

Borosil Limited manufactures laboratory glassware and microwavable kitchenware. The company sells and markets microwavable and flameproof kitchenware and glass tumblers through more than 15,000 retail outlets and has three manufacturing facilities.

The company has 4 manufacturing facilities whose products are sold and distributed in 70+ countries.

The company's consumer Products segment marks for 72% of company revenue which includes microwaveable glassware products, glass tumblers, storage containers, stainless steel cookware, opal dining ware, kitchen appliances, lunch boxes, and stainless-steel flasks.

In the Microwaveable glassware segment, the company has been a market leader with over 60% market share.

To know what's moving the Indian stock markets today, check out the most recent share market updates here.

For information on how to pick stocks that have the potential to deliver big returns, download our special report now!

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INDICESBSE (Rs 0 to 1)BSE (Rs 1 to 2)BSE (Rs 2 to 4)BSE (Rs 4 to 10)BSE (Rs 10 to 20)BSE (Above Rs 20)BSE - AllBSE-30BSE-100BSE-200BSE-500BSE AutoBSE BankexBSE Capital GoodsBSE Consumer DurablesBSE FMCGBSE HealthcareBSE ITBSE MetalBSE Oil & GasBSE PSUBSE TeckBSE RealtyBSE PowerBSE A GroupBSE B GroupBSE Mid-CapBSE Small-CapBSE Basic MaterialsBSE Consumer DiscretionaryBSE IndustrialsBSE UtilitiesBSE Sensex 50BSE Sensex Next 50BSE Bharat 22BSE 150 MidCapBSE 250 SmallCapBSE 250 LargeMidCapBSE 400 MidSmallCapBSE AllCapBSE LargeCapBSE SmallCap SelectBSE 100 LargeCap TMCBSE InfraBSE ManufacturingBSE CPSEBSE Private BankBSE Diversified FinancialsBSE MomentumBSE Low VolatilityBSE QualityBSE Enhanced ValueBSE Divident StabilityS&P BSE IPOBSE SMEIPOBSE 100 ESGBSE CarbonexBSE GreenexNSE (Rs 0 to 10)NSE (Rs 10 to 20)NSE (Above Rs 20)NSE - AllNSE-50NSE ITNSE Nifty Midcap 50NSE JR. NiftyNSE Bank NiftyNIFTY Next 50NIFTY 100NIFTY 200NIFTY 500NIFTY MidCap 100NIFTY SmallCap 250NIFTY SmallCap 50NIFTY SmallCap 100NIFTY LargeMidCap 250NIFTY MidSmallCap 400NIFTY AutoNIFTY Consumer DurablesNIFTY FinanceNIFTY FMCGNIFTY MediaNIFTY MetalNIFTY PharmaNIFTY Private BankNIFTY PSU BankNIFTY RealtyNIFTY Oil & GasNIFTY SME EmergeNIFTY CommoditiesNIFTY CPSENIFTY EnergyNIFTY India ConsumptionNIFTY InfraNIFTY MNCNIFTY PSENIFTY Serv SectorNIFTY100 Liquid 15NIFTY Midcap Liquid 15NIFTY Midcap 150 Quality 50NIFTY50 Equal WeightNIFTY100 Equal WeightNIFTY100 Low Volatility 30NIFTY100 Alpha 30NIFTY Alpha 50NIFTY Dividend Opportunities 50NIFTY High Beta 50NIFTY Low Volatility 50NIFTY200 Quality 30NIFTY 500 Value 50NIFTY 100 Quality 30SECTORSAgricultureAirlinesAluminiumAsset Management CompaniesAutomobilesAuto AncillariesBanks (Private)Banks (PSU)BankingCementChemicalsDefenceDiagnosticsDronesEngineeringElectric VehicleElectric Vehicle BatteryEnergy SourcesESGEthanolFertilizersFintechFMCGFoodGreen HydrogenHotelsInfrastructureInsuranceInvestment and FinanceInvITIT (Large)IT (Others)LogisticsMediaMetalMiningIndia's Big Tech StocksIndian PharmaMNC PharmaPSUPaintPaperPlasticPowerRating AgenciesReal EstateREITsRenewable EnergyRetailingSemiconductorShippingSteelSugarSupply ChainTelecomTextilesTravel Support Services

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Indian Share Market Update: Top Gainers and Losers