New Delhi, September 1(HS):
After enduring losses over the last three trading days of August, domestic equity markets roared back to life today, kicking off September with robust gains. Bullish GDP data, positive signals from the SCO summit in Tianjin, China, a sharp rally in IT stocks, and bargain buying at lower levels collectively fueled the upward momentum in both the Sensex and Nifty indices.
The trading day began with modest gains, witnessing a tussle between buyers and sellers that created volatility in market movement during the opening session. However, by noon, buyers dominated, propelling the Sensex and Nifty upward through sustained buying. By market close, the Sensex had surged by 0.70 percent while the Nifty climbed 0.81 percent.
Sector-wise, investors poured money into IT, automobile, energy, and metal stocks throughout the day. Banking, capital goods, consumer durables, FMCG, healthcare, oil & gas, public sector enterprises, and technology indices also ended on a positive note. Notably, the Nifty automobile index jumped 2.80 percent, while the IT index rose 1.59 percent. Broader market indices mirrored this optimism, with the BSE Midcap and Smallcap indices closing 1.64 percent and 1.49 percent higher, respectively.
This market strength translated into a substantial wealth creation of over ₹5 lakh crore for investors. The market capitalization of BSE-listed companies rose to an estimated ₹448.90 lakh crore from ₹443.65 lakh crore recorded at last Friday’s close, offering investors gains approximating ₹5.25 lakh crore in a single session.
Trading activity was brisk with 4,380 stocks exchanging hands on the BSE; 2,800 closed with gains, 1,387 declined, and 193 remained unchanged. On the NSE, out of 2,805 actively traded stocks, 1,944 closed in the green and 861 in the red. Among the 30 Sensex constituents, 23 advanced while 7 declined, and of the 50 Nifty stocks, 42 ended firm versus 8 in the loss column.
The Sensex opened at 79,828.99 and, despite intraday fluctuations, clinched the day at 80,364.49—up 554.84 points. The Nifty started at 24,432.70 and closed at 24,625.05, gaining 198.20 points after a slight late-day dip.
Top gainers included Bajaj Auto (+3.89%), Mahindra & Mahindra (+3.62%), Tata Motors (+3.16%), Hero MotoCorp (+3.07%), and Ashok Leyland (+2.90%). On the downside, Sun Pharmaceuticals (-1.96%), ITC (-0.95%), Hindustan Unilever (-0.39%), Titan Company (-0.28%), and Reliance Industries (-0.24%) led the decliners.
Today’s market resurgence signals renewed investor confidence backed by encouraging economic cues and global developments, setting a positive tone for the month ahead.
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Hindusthan Samachar / Jun Sarkar
