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

The equity market in India hit fresh all-time highs in trades on Tuesday led by a strong rally in large-cap private banking shares.

At the closing bell, the BSE Sensex stood higher by 712 points (up 0.9%).

Meanwhile, the NSE Nifty closed higher by 184 points (up 0.8%).

Axis Bank, HDFC Bank, and ICICI Bank were among the top gainers today.

BPCL, Eicher Motors, and ONGC on the other hand, were among the top losers today.

The GIFT Nifty was trading at 23,734 up by 198 points, at the time of writing.

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

Sectoral indices are trading mixed with stocks in the banking sector, financial sector, and IT sector witnessing the most buying. Meanwhile, stocks in the power sector and realty sector witnessing selling pressure.

Shares of Raymond, Trent, and CAMS hit their respective 52-week highs today.

The rupee is trading at 83.4 against the US$.

Gold prices for the latest contract on MCX are trading flat at Rs 71,814 per 10 grams.

Meanwhile, silver prices were trading flat at Rs 88,998 per 1 kg.

Here are three reasons why Indian Markets are rising today

#1 June F&O Expiry

With the new government in place, hopes of continuity in reforms and focus on its 100-day agenda, traders are seen taking bullish bets in the futures & options space.

With less than three days to go before the June series expiry, the Nifty Put Call Ratio (PCR) stood above 1; indicating the presence of more put writing than call writing. The highest OI was visible in 24,000, 24,500, and 25,000 Strike Calls.

Similarly, traders seemed to be a confident lot, with steady stock futures rollovers to the July series.

#2 Private Banks rally

Shares of private lenders which were seen underperforming state-run peers seem to be back on investors' radar. Banking shares hold significant weightage in the benchmark indices - the Sensex and the Nifty - hence a sharp movement in these shares, tends to impact the indices accordingly.

On Tuesday, Axis Bank and HDFC Bank rallied nearly 3% each to Rs 1,267 and Rs 1,717, respectively.

#3 FIIs up Long Bets

Following finalization of the government at the Centre, foreign institutional investors have covered their short positions, and steadily build long positions in the index futures. As of 24 June, FIIs net long in index futures rose to 1.44 it's highest in more than two months. FIIs held 59.1% net longs in index futures.

FIIs have been net buyers in index futures in the last seven straight trading sessions. FIIs have added around 1.83 lakh across index futures, which include Nifty, Bank Nifty, and others.
 

Why Hitachi Energy India's Share Price is Rising

In news from the power sector, Hitachi Energy India on 25 June announced that it has received an order worth Rs 7.9 bn from fellow subsidiary Hitachi Energy Australia Pty for the development of high voltage direct current links between Tasmania and Victoria.

Marinus Link is a project of national significance for Australia. It will play a fundamental role in Australia's energy ecosystem, and the company will play a crucial role in supporting it.

Through this deal, the firm will execute project Marinus Link, which will create voltage source converter (VSC) high voltage direct current (HVDC) links between Tasmania and Victoria for the supply of certain equipment.

These links will be used for the execution of another project -Burnie Converter Station and Latrobe Valley Converter Station.

The order is scheduled to be executed over four years.

Hitachi Energy was selected by Marinus Link Pty Ltd to supply an HVDC project in Australia. The firm will supply its HVDC Light VSC stations for the project and delivery of certain equipment will be executed from the company's factory in India.

Borosil Jumps 4%. Here's Why.

Moving on to news from the consumer durable sector, shares of Borosil Ltd jumped over 4% on 25 June, a day after the company informed that its board approved Qualified Institution Placement (QIP) at a floor price of Rs 331.8 per share. The company aims to raise up to Rs 2.5 bn through this route.

Earlier this year in January, the company's board approved raising funds aggregating up to Rs 2.5 bn via QIP.

Borosil Limited manufactures laboratory glassware and microwavable kitchenware. The company sells and markets microwavable and flameproof kitchenware and glass tumblers through more than 15,000 retail outlets and has three manufacturing facilities.

The company has 4 manufacturing facilities whose products are sold and distributed in 70+ countries.

The company's consumer Products segment marks for 72% of company revenue which includes microwaveable glassware products, glass tumblers, storage containers, stainless steel cookware, opal dining ware, kitchen appliances, lunch boxes, and stainless-steel flasks.

In the Microwaveable glassware segment, the company has been a market leader with over 60% market share.

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