Sensex Today Ends 591 Points Higher | Nifty Above 25,100 | 5 Reasons Why Indian Share Market is Rising

Mon, 14 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.

The benchmark equity indices, BSE Sensex, and NSE Nifty50 ended the week's first trading session in positive territory, riding on the back of heavy buying across banks, IT, and financial services stocks.

At the closing bell, the BSE Sensex stood higher by 591 points (up 0.7%).

Meanwhile, the NSE Nifty closed higher by 163 points (up 0.7%).

Wipro, Tech Mahindra and HDFC Bank among the top gainers today.

ONGC, Tata Steel and Adani Enterprises on the other hand, were among the top losers today.

The GIFT Nifty was trading at 25,208 up by 135 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% higher and BSE SmallCap index ended marginally higher.

Barring metal sector and oil & gas sector, all other sectoral indices were trading positive with socks in realty sector, IT sector and banking sector witnessing most buying speer.

Coforge, Trent and Dixon Technologies 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 84.06 against the US$.

Gold prices for the latest contract on MCX are trading marginally lower at Rs 76,234 per 10 grams.

Meanwhile, silver prices were trading 0.5% lower at Rs 91,246 per 1 kg.

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

#1 Positive Global Cues

Asian shares gained ground on Monday, with stocks in China rising more than 2% after the finance minister said over the weekend that more stimulus is needed for the slowing economy.

US futures were little changed and oil prices retreated. The Shanghai Composite index rose 2.1% to 3,284.32 and the smaller market in Shenzhen gained 3%.

#2 IT Stocks Rally

The Nifty IT index rose 1.41% to 42,934.40. The index gained 2% in the two trading session.

Wipro (up 3.99%), Mphasis (up 2.92%), Tech Mahindra (up 2.62%), Persistent Systems (up 2.6%), Infosys (up 1.39%), L&T Technology Services (up 1.07%), LTIMindtree (up 0.87%), Coforge (up 0.86%), HCL Technologies (up 0.82%) edged higher.

#3 Yield Number on Track

The yield on India's 10-year benchmark federal paper advanced 1.49% to 6.889 as compared with previous close 6.788.

#4 Rupee Factor

In the foreign exchange market, the rupee edged higher against the dollar. The partially convertible rupee was hovering at 84.0725, compared with its close of 84.1050 during the previous trading session.

The US Dollar index (DXY), which tracks the greenback's value against a basket of currencies, was up 0.12% to 103.02.

#5 Falling Oil Prices

In the commodities market, Brent crude for November 2024 settlement lost $1.33 or 1.68% to $77.71 a barrel.

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Why Premier Energies Share Price is Rising

In news from the electronics manufacturing sector, shares of Premier Energies gained as much as 10% on 14 October after the company's subsidiaries Premier Energies International Private Ltd and Premier Energies Photovoltaic Private Ltd - secured multiple orders, cumulatively worth Rs 7.7 bn.

This includes Rs 6.3 bn orders for solar modules and orders worth Rs 1.3 bn for solar cells. The electrical equipment maker added that the supply of these modules and cells is scheduled to commence in July 2025.

The orders have been received from eight domestic customers and one foreign customer.

Earlier on 8 October, Premier Energies informed the exchanges that it had signed a Module Supply Agreement (MSA) with BN Hybrid Power-1 Private Limited, a Special Purpose Vehicle (SPV) of BrightNight India.

As a part of the agreement, Premier Energies will supply 173.35 MWp of solar modules featuring the Topcon technology for BN Hybrid Power's 300 MW Firm and Dispatchable Renewable Energy (FDRE) energy storage power project which is located in Barmer, Rajasthan.

The supply of these modules is slated to start in July 2025.

Premier Energies manufactures integrated solar cells and solar panels. Its product portfolio includes cell, solar modules, bifacial modules, EPC solutions and O&M solutions.

It has five manufacturing units, all of which are situated in Hyderabad, Telangana.

Hathway Cable Jumps 3%

Moving on to news from the media sector, shares of Hathway Cable & Datacom jumped over 3% on 14 October after the cable television distribution company reported strong earnings for the September 2024 quarter.

Hathway Cable & Datacom is one of the largest multiple-system operator (MSO) and cable broadband service providers in India. It provides cable television services through its wholly-owned subsidiary - Hathway Digital Private.

Hathway Cable holds a PAN India ISP license and was the first cable television services provider to offer High-speed cable broadband services.

The company reported a 28.4% year-on-year (YoY) increase in net profit at Rs 258 m. Its revenue from operations increased 6% YoY to Rs 5.1 bn during the quarter under review.

At the operating level, Hathway Cable's earnings before interest, tax, depreciation, and amortisation (EBITDA) rose 4.4% YoY to Rs 86.3 crore during this period while the EBITDA margin stood at 16.8% compared to 17.1% in the corresponding period in the previous fiscal.

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

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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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