Although the benchmark indices opened higher, they traded positively throughout the session and ultimately closed green.
Indian equity benchmarks, the Sensex and Nifty50 indices, ended sharply higher as IT, realty, bank, and financial stocks advanced.
At the closing bell, the BSE Sensex closed points 791 higher (up 1%)
Meanwhile, the NSE Nifty closed 197 points higher (up 0.8%)
Trent, Tech Mahindra, and Bajaj Finance were the top gainers today.
NTPC, Tata Steel, and Maruti Suzuki, on the other hand, were among the top losers today.
The GIFT Nifty was trading at 24,037 with 226 points higher at the time of writing.
The BSE 150 Midcap index is trading 0.1% higher, and the BSE 250 SmallCap index is trading 0.2% higher.
Sectoral indices were trading mixed today, with the metal sector and power sector witnessing selling pressure. Meanwhile, stocks in the banking sector and the realty sector witnessed buying.
The rupee is trading at Rs 94.6 against the US$.
Gold prices for the latest contract on MCX are trading 1.5% lower at Rs 1,44,280 per 10 grams.
Meanwhile, silver prices were trading 1.2% lower at 2,23,097 per 1 kg.
6 reasons why Indian share markets are rising:
#1 Lower Crude Oil Prices
The decline in crude oil prices has boosted market sentiment, as lower oil costs are generally positive for India's economy. A stable rupee and easing foreign investor selling have also supported the market.
#2 FII Buying
Foreign Institutional Investors (FIIs) turned net buyers in the market, improving investor confidence. Their buying activity provided additional support to market gains.
#3 India-US Trade Deal Hopes
Market sentiment strengthened after reports indicated that India and the US are close to finalizing a trade agreement. Investors believe the deal could benefit trade and economic growth in both countries.
#4 Firm Asian Markets
Positive performance in major Asian markets provided encouraging signals for Indian equities. Strong regional sentiment helped support buying interest in domestic stocks.
#5 Buying in IT Shares
IT stocks witnessed strong buying interest, helping the broader market move higher. Gains in leading technology companies supported the sector's positive momentum.
#6 Buying in Private Banks
Private banking stocks saw robust buying activity, led by major lenders. Their strong performance played a key role in lifting the benchmark indices.
Godrej Industries Gains After NCD Allotment
Shares of Godrej Industries saw strong buying interest on Wednesday after the company announced an update on its Non-Convertible Debentures (NCDs).
The company's board committee approved the allotment of two series of rated, listed, unsecured, redeemable NCDs with a total value of Rs 10 billion. Each series is worth Rs 5 billion.
The allotment is effective from 24 June 2026, and the NCDs will mature on 24 September 2031.
According to the company, the funds raised will be used for general business needs, investments in other companies, and repayment or prepayment of existing loans.
GTPL Strengthens Regional Cable Network Footprint
GTPL Hathway announced that it has signed a Business Transfer Agreement on June 23, 2026, to acquire the cable TV business of seven companies belonging to the ACT Group.
The companies involved in the deal are A.C.N Cable Private Limited, ACT Digital Home Entertainment Private Limited, Atria Broadband Services Private Limited, Kable First India Private Limited, Sri Venkateshwara Digital Home Entertainment Private Limited, Mandapeta Digital Entertainment Private Limited, and I.B. Communications Network Private Limited.
The transaction is valued at Rs 362.3 million and will be completed through a cash deal on a slump sale basis, meaning the business will be transferred as a going concern.
These companies operate cable TV services across Andhra Pradesh, Telangana, Odisha, and Karnataka, serving around 6 lakh subscribers.
This acquisition will help GTPL Hathway expand its cable television business and strengthen its presence in new regions. The deal is expected to be completed by 15 September 2026.
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