Sensex Today Ends 584 Points Higher | Nifty Above 25,000 | 4 Reasons Why Indian Share Market is Rising

Tue, 8 Oct Closing

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After opening the day flat, Indian benchmark indices remained positive as the session progressed and ended the day on firm footing.

Indian stock markets returned to their winning ways on Tuesday, snapping their 5-day losing run..

At the closing bell, the BSE Sensex stood higher by 584 points (up 0.7%).

Meanwhile, the NSE Nifty closed higher by 217 points (up 0.9%).

Trent, M&M and Adani Ports among the top gainers today.

Tata Steel, Titan and JSW Steel on the other hand, were among the top losers today.

The GIFT Nifty was trading at 25,126 up by 178 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 1.8% higher and BSE SmallCap index ended 2.5% higher.

Barring metal sector, all other sectoral indices were trading positive with socks in capital goods sector and power sector witnessing most buying speer.

Coforge, Trent and IPCA Labs 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 83.96 against the US$.

Gold prices for the latest contract on MCX are trading 0.3% lower at Rs 75,849 per 10 grams.

Meanwhile, silver prices were trading 1.5% lower at Rs 90,969 per 1 kg.

Here are the four key factors drive the market's momentum.

#1 Positive Global Cues

Most Asian shares tumbled on Tuesday. However, Chinese stocks surged as trading resumed after a week-long break, buoyed by recent stimulus measures from Beijing. Officials are scheduled to provide further details on these measures later today.

China's CSI300 blue-chip index surged 10% in early trade to its strongest since July 2022, while the Shanghai Composite Index jumped roughly the same amount to its highest mark since December 2021.

#2 PSU Stocks Rally

Public sector undertakings (PSUs), particularly those in the railways and defense sectors, are among the biggest gainers today. RVNL stock jumped over 8%, while HUDCO rose by 7%.

Other notable performers included PFC, REC, IRCON, HAL, BEL, Mazagon Dock, and Cochin Shipyard, all rallying between 4% and 6%.

#3 Sectoral gains

Across sectoral indices, gains were led by the Media index, which was up 2.9%, followed by Health and Pharma indices.

#4 Falling Oil Prices

In commodities, oil prices pared some of their gains after jumping on Monday due to worries about supply disruptions, with Brent crude futures last down 1.5% at US$ 79.74 a barrel.

It had surged above US$ 80 a barrel for the first time in more than a month in the previous session. US crude futures shed 1.54% to US$ 75.9 a barrel.

Speaking of the stock market, the aggressive expansion plans of the retailing sector players are not without reason. The sector is witnessing strong growth driven by increased urbanization and demand for organised and high-quality retail spaces.

This is fuelled by the rising demand for big brands thanks to their reach on social media.

This highlights India's emergence as a key player in the global retail market.

Research Analyst, Tanushree Banerjee in her latest video talks about, can top retailing stocks like Trent continue to fetch steep valuations? Find out.

Tune in for more

Nifty PSE Index Jumps 2%. Here's Why

In the news PFC, REC, and HAL stocks were among the major gainers in the 8 October trade as the Nifty PSE index advanced over 2% on hopes of a strong government and policy continuity amid Bharatiya Janata Party's (BJP) likely historic third term in Haryana.

The ruling BJP has crossed the majority mark in the Haryana assembly and was leading on 49 seats.

Nifty PSE index was up 1.6% at about 2:20 pm on 8 October, with Power Finance Corporation rising 5.2%, REC (4.38%), HAL (4.64%), and BEL (4.3%) among others.

14 stocks were trading in green in the 20-stock Nifty PSE index. NMDC, Hindustan Petroleum Corporation, and Power Grid Corporation were among the laggards today, falling up to 4.5%.

Nifty CPSE gained nearly 2% with Cochin Shipyard, Bharat Electronics Limited and Oil India leading the pack. Cochin Shipyard stock gained after four days of consecutive fall. In today's trade, it touched an intraday high of Rs 1,640, zooming 4.5%.

Why HEG Share Price is Rising

Moving on to news from the engineering sector, shares of HEG surged over 6% on 8 October after the company acquired an 8.2% stake in industry rival GrafTech International for Rs 2.5 bn GrafTech, with a market capitalisation of approximately US$ 416.6 million is listed on the New York Stock Exchange and specialises in the production of graphite electrodes, a segment closely aligned with HEG's core business.

The surge in the stock was also accompanied by heavy trading volumes. As many as four lakh shares changed hands on the exchanges so far, higher than the one-week daily traded average of two lakh shares.

GrafTech International boasts a competitive portfolio of low-cost, ultra-high power graphite electrode manufacturing facilities, including some of the highest-capacity plants worldwide, with a global presence.

In May, HEG approved the demerger of its graphite business into a new entity and the merger of Bhilwara Energy with itself, aiming to unlock value for shareholders. The graphite segment accounted for 94.4% of the company's total turnover in FY2024, with its listing expected in 2025.

Post-demerger, the existing company will shift focus to green energy ventures, including hydro and wind energy, advanced carbon solutions, and other emerging businesses. The demerger will involve a 1:1 share swap ratio, as announced on 22 May.

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