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 After opening the day on a positive note, Indian share markets gained momentum as the session progressed and ended on firm footing.Indian equity benchmarks traded higher on Wednesday tracking upbeat global market mood and amid hopes of Fed rates starting early next yearAt the closing bell, the BSE Sensex stood higher by 702 points (up 1%).Meanwhile, the NSE Nifty closed higher by 213 points (up 1%).Hindalco, Tata Motors, and Bajaj Auto were among the top gainers today.NTPC, ONGC, and Adani Ports, on the other hand, were among the top losers today.The GIFT Nifty was trading at 21,665, up by 163 points, at the time of writing.The BSE MidCap index climbed 0.8% and the BSE SmallCap index rose 0.4%.Sectoral indices ended mixed with stocks in the financial sector and auto sector witnessing the most buying. Meanwhile, stocks in the oil & gas sector and power sector witnessed selling pressure.Shares of MRF and Nestle hit their respective 52-week highs today.Now track the biggest movers of the stock market using the stocks to watch today section. This should help you keep updated with the latest developments…Asian share markets ended on a positive note. The Shanghai Composite rose 0.5% while the Nikkei rallied 1.1%.The rupee is trading at 83.34 against the US$.Gold prices for the latest contract on MCX are trading up by 0.5% at Rs 63,355 per 10 grams.Meanwhile, silver prices were trading 0.1% higher at Rs 75,089 per 1 kg.Here are four reasons why Indian Markets are rising today#1 Rate Cut hopesAs the US inflation has been cooling of late, market participants are buying stocks aggressively, expecting the US Federal Reserve to start cutting interest rates as early as March next year.When interest rates decrease, more money flows into the financial system. This could potentially help companies make more profit, which boosts market sentiment.#2 Strong FPI InflowForeign investors have been pumping money into the Indian financial market aggressively since November this year. Following an investment of about RS 245.5 bn in November, FPIs have pumped in about Rs 789 bn in the Indian financial market in December so far (as of 26 December), NSDL data showed.The increased purchasing activity by Foreign Portfolio Investors (FPIs) may be linked to expectations of interest rate reductions, the decline in the US dollar, and bond yields, alongside India’s robust economic growth prospects.#3 Metal Stock RallyIndia’s metal stocks rose as much as 1.6% to a new all-time high of 7,863.7 last up 1.2%. Among them, Hindalco Industries, JSW Steel, National Aluminium Co, Steel Authority of India, and Tata Steel rose between 1-4%.The index rose for the fourth straight session as global metals prices rallied. Prices of metals like copper, aluminum, zinc, and iron ore are surging on supply concerns as well as a softer dollar.Further, improved manufacturing activity and demand in top consumer China are also boosting prices.#4 Positive Global CuesIn Asian markets, Tokyo, Shanghai, and Hong Kong quoted with gains while Seoul traded lower.The US markets ended in the green on Tuesday. This has led investors to speculate that the US Federal Reserve may cut interest rates as early as March.
 L&T’s Major Order WinIn news from the engineering sector, shares of L&T climbed nearly 2% to hit a record high of Rs 3,548.9 on 27 December after the company bagged a major order for the Amaala project in the Red Sea region of Saudi Arabia.The order, under the engineering, procurement, and construction (EPC) type is for establishing various systems related to renewable energy generation and utilities.Larsen & Toubro classifies orders in the range of Rs 50 to 100 bn as major orders.L&T’s order book stood at Rs 4,507 bn in the first half of FY24, up 22% on-year from the previous fiscal. Though the company recorded a decline in domestic orders in Q2, it was offset by a substantial increase in offshore contracts.L&T Shares hit a one-year high. Note that L&T has rewarded investors with 10 bonuses over the last 7 decades and the CAGR over the last 20 years stands at an impressive 25.6%.L&T has been an investor’s favorite stock for a long time and also a stock that makes it to the top 5 infrastructure stocks.In line with its commitment to a sustainable future, L&T is poised to make significant strides in the green hydrogen landscape. 
 Happy Forgings Lists at 18% PremiumMoving on, Heavy forgings manufacturer Happy Forgings Ltd shares opened 18% higher on debut on 27 December after its initial public offering subscribed 82 times last week.The stock opened at Rs 1,001.2 and gained as much as 17.8% in intraday. At 10 am, the stock was trading at Rs 1,004 on the BSE, up 18.2% from its issue price of Rs 850 a share.The Rs 10.1 bn IPO opened for subscription on 19 December and closed on 21 December. Retail investors bought 15.1 times and high net-worth individuals picked 62.2 times the allotted quota, while qualified institutional buyers (QIBs) picked 220.5 times their reserved portion.The Punjab-based company serves various sectors such as automotive, railways, and more, targeting domestic and global OEMs.Notable customers include AAM India, Ashok Leyland, Mahindra & Mahindra, among others.Happy Forgings plans to use proceeds for equipment acquisition and debt repayment, with the remainder for general corporate purposes.More By This Author:Sensex Today Trades Higher; Energy Stocks Shine
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