Although the benchmark indices opened higher, they traded positively throughout the session and ultimately closed green.
Indian equity benchmarks, Sensex and Nifty50 urged as the risk sentiment got a boost after the US and Iran announced that they have reached a peace agreement.
At the closing bell, the BSE Sensex closed points 737 higher (up 0.9%)
Meanwhile, the NSE Nifty closed 231 points higher (up 0.9%)
Trent, Eternal, and UltraTech Mahindra were the top gainers today.
NTPC, ICICI Bank, and Asian Paints, on the other hand, were among the top losers today.
The GIFT Nifty was trading at 23,906 with 278 points higher at the time of writing.
The BSE 150 Midcap index is trading 1.4% higher, and the BSE 250 SmallCap index is trading 1.3% higher.
Sectoral indices were trading mixed today, with the auto sector and realty sector witnessing buying. Meanwhile, stocks in the metal sector and the healthcare sector witness selling pressure.
The rupee is trading at Rs 94.6 against the US$.
Gold prices for the latest contract on MCX are trading 1.8% higher at Rs 1,53,293 per 10 grams.
Meanwhile, silver prices were trading 2.6% higher at 2,52,810 per 1 kg.
4 reasons why Indian share markets are rising:
#1 US-Iran Peace Deal
Market sentiment improved after the US and Iran agreed to end their 107-day conflict and reopen the Strait of Hormuz. The development eased concerns over global oil supply disruptions and reduced geopolitical uncertainty.
#2 Brent Crude Prices Fall
Brent crude prices declined sharply following the peace agreement, easing inflation concerns globally. Lower oil prices are positive for India as they help reduce inflation, support the rupee, and improve the trade balance.
#3 Positive Global Market Cues
Global markets rallied as investors welcomed the easing of tensions in West Asia. Strong gains across Asian and US markets boosted overall risk appetite and supported investor sentiment.
#4 Rupee Strengthens
The rupee appreciated against the US dollar as lower crude oil prices improved India's economic outlook. A firm domestic market and a weaker dollar further supported the local currency.
KIMS Raises Funds Via Warrants Issue
Shares of Krishna Institute of Medical Sciences (KIMS) came into focus after its board approved the issuance of 77.02 lakh fully convertible warrants on a preferential basis to members of the promoter group at an issue price of Rs 779 per warrant, aggregating Rs 6 billion.
Each warrant can be converted into one equity share within 18 months from the date of allotment.
Out of the total issue, 64.19 lakh warrant worth Rs 500 crore will be allotted to promoters Dr. Abhinay Bollineni and Mr. Advik Bollineni. The remaining 12.84 lakh warrants worth Rs 100 crore will be allotted to promoter group entity Bharas Ventures LLP.
The proposal is subject to approval from shareholders and regulatory authorities. The company will hold an Extra-Ordinary General Meeting (EGM) on 9 July 2026 to seek approval.
After conversion, Bharas Ventures LLP will hold a 0.31% stake in the company. The LLP is jointly owned by the two promoters of the company.
Krishna Institute of Medical Sciences (KIMS Hospitals), headquartered in Hyderabad, is one of the largest corporate hospital chains in Telangana and Andhra Pradesh. It provides multi-specialty healthcare services, focusing on advanced tertiary and quaternary care at affordable costs.
Ather Energy Eyes Major Capital Raise
Electric two-wheeler maker Ather Energy has started talks with at least three investment banks as it prepares for its first fundraising after listing in May 2025. The company is expected to appoint advisers soon and may begin the fundraise as early as July.
It plans to raise up to Rs 25 bn. Of this, up to Rs 15 bn may come through a Qualified Institutional Placement (QIP) of equity shares in one or more tranches.
The remaining Rs 1000 crore (Rs 10 bn) could be raised through other instruments such as equity shares, foreign currency convertible bonds (FCCBs), or similar securities. The funds may also be raised via routes like preferential issues or rights issues, depending on regulations.
The fresh capital is expected to support the company's expansion plans as competition in India's electric two-wheeler market continues to intensify.
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