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

Amid sustained buying in heavyweights, Nifty today scaled a fresh all-time high of 23,785 while Sensex also scaled a peak of 78,339.

At the closing bell, the BSE Sensex stood higher by 621 points (up 0.8%).

Meanwhile, the NSE Nifty closed higher by 148 points (up 0.6%).

Reliance Industries, Bhart Airtel, Grasim Industries were among the top gainers today.

Bajaj Auto, Hindalco, and Tata Steel, on the other hand, were among the top losers today.

The GIFT Nifty was trading at 23,853 up by 133 points, at the time of writing.

The BSE MidCap index ended 0.3% lower and the BSE SmallCap index ended 0.2% Higher.

Sectoral indices are trading mixed with socks in the FMCG sector, energy sector, and oil & gas sector witnessing the most buying. Meanwhile, stocks in the metal sector and the realty sector witnessing selling pressure.

Shares of Bosch, Info Edge, and Raymond hit their respective 52-week highs today.

The rupee is trading at 83.58 against the US$.

Gold prices for the latest contract on MCX are trading flat at Rs 71,487 per 10 grams.

Meanwhile, silver prices were trading 0.4% higher at Rs 87,314 per 1 kg.

Here are three reasons why Indian Markets are rising today

#1 Index Heavyweights Rally

The main reason behind the sharp rise on Dalal Street was a nearly 3% jump in RIL shares. In addition, ICICI Bank, the third-largest stock in the Nifty 50, gained 1.4%. Meanwhile, state-run Mazagon Dock Shipbuilders saw a 4.5% increase.

#2 Energy Stocks rally

Shares of energy sector players seem to be back on investors' radar. With rise in Reliance Industires today, the energy index surged over 1% today dragging the market higher.

#3 Falling Crude Oil Prices

Crude oil futures fell about 1% Tuesday as the recent rally took a breather, with traders watching for summer fuel demand and tensions on the Israel-Lebanon border.

U.S. crude oil and global benchmark Brent are ahead by 4.9% and 4.1%, respectively, for the month as prices have bounced back from May doldrums on a more optimistic outlook for summer fuel demand.
 

Why Zee Entertainment Share Price is Rising

In news from the media sector, Zee Entertainment Enterprises Ltd (ZEEL) saw a notable uptick in its stock performance, surging close to 5% following legal maneuvers and strategic decisions.

The catalyst for this surge came on the back of a pivotal decision by the National Company Law Tribunal (NCLT), granting ZEEL the green light to withdraw its implementation application, according to Reuters reports.

This application was initially aimed at compelling Culver Max Entertainment and Bangla Entertainment-subsidiaries of Sony Group Corp-to execute a composite scheme of arrangement.

The withdrawal follows Sony's surprise move earlier this year to abandon a proposed US$ 10 billion merger with Zee.

The cancellation, announced on 22 January 2024, cited insurmountable disagreements over the leadership structure of the merged entity.

The aftermath of the collapsed merger swiftly escalated into a legal skirmish, with ZEEL promptly filing an implementation application.

This legal maneuver alleged breaches of the merger cooperation agreement (MCA) by Culver Max and Bangla Entertainment.

In response, the subsidiaries contested the validity of ZEEL's application, intensifying tensions within the corporate landscape.

Zee Entertainment Enterprises is a media and entertainment company engaged in providing broadcasting services. It's one of India's leading media and entertainment companies. The company operates through content and broadcasting segments.

The company operates through content and broadcasting segments.

In the year 1992, the company launched its flagship television channel Zee TV. Since then, they have transformed itself into an integrated media conglomerate with operations spanning the entire media spectrum.

Why Meghna Infracon Share Price is Rising

Moving on to news from the infrastructure sector, shares of Meghna Infracon Infrastructure surged 19%, reaching a 52-week high of Rs 468 on the BSE following its acquisition of a prestigious residential project in Goregaon West, Mumbai.

Meghna Infracon, an emerging name in the real estate industry, informed the exchanges that it has launched its new residential project 'RIVAAN' in Goregaon (West), Mumbai. This project signifies a major step forward for the company as it aims to establish itself as a leading developer of luxurious real estate in Mumbai.

Lodha also said that the construction work at the site has commenced and will be executed as per the scheduled timelines.

'RIVAAN' introduces an innovative community living concept, offering residents 1 and 2 BHK apartments along with commercial units on the first floor.

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