Dear Trader…
Markets started the week on a positive note and ended with modest gains amid mixed cues. The Nifty gradually moved higher through the day; however, sharp profit-taking in the final hour trimmed the gains. On the sectoral front, autos, realty and metals were among the performers, while IT and FMCG lagged. Broader markets displayed resilience, with the Nifty Midcap and Smallcap indices closing modestly higher—underlining sustained interest in the wider universe.
Investor sentiment was supported by the GST rate cut tailwinds and dovish signals from the US Federal Reserve, which bolstered rate-cut hopes after weak US jobs data. Easing geopolitical risks and optimism around India’s domestic economic outlook also lent support to select sectors. However, persistent foreign institutional selling and speculation over potential restrictions on IT services exports capped the upside. Fund flows reflected a tug-of-war between FII outflows and robust DII buying, a typical feature of markets at an inflection point.
Nifty futures opened at 24888 points against the previous close of 24847 and opened at a low of 24862 points. Nifty Future closed with an average movement of 116 points and a rise of around 45 points and 24892 points…!!
On the NSE, the midcap 100 index will rise of 0.50% and smallcap 100 index is closing rise of 0.16%. Speaking of various sectoral indices IT, Healthcare, Consumer Durables, Pharma, FMCG, Healthcare and It & Telecom stocks were seen selling on the NSE, while all other sectoral indices closed higher.
At the start of intra-day trading, October gold opened at Rs.1,07,456, fell from a high of Rs.1,08,180 points to a low of Rs.1,07,101 with a rise of 393 points, a trend of around Rs.1,08,121 and December Silver opened at Rs.1,26,400, fell from a high of Rs.1,26,400 points to a low of Rs.1,23,557 with a rise of 932 points, a trend of around Rs.1,25,629.
Meanwhile, Auto and ancillary stocks continued to rally on expectations of demand recovery following GST rate cuts, while IT remained weak amid global uncertainties. Globally, sentiment improved after soft US jobs data raised hopes of a Fed rate cut in September.
Tata Motors, Mahindra and Mahindra, Adani Airports, Bajaj FinServ, Ultratech Cement, Tata Steel, HDFC Bank and BEL were the top gainers from the Sensex basket. While Trent, Asian Paints, HCL Tech, Tech Mahindra, PowerGrid, TCS, Sun Pharma, L&T, NTPC and Bharti Airtel settled lower.
The majority of sector indices settled in green. Nifty Auto soared 868.60 points or 3.30 per cent, Nifty Fin Services jumped 53 points or 0.21 per cent, and Nifty Bank escalated 72 points or 0.13 per cent. Meanwhile, Nifty IT fell 325 points or 0.94 per cent amid persistent selling. The securities quoted are for illustration only and are not recommendatory.
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