Nifty Extends Winning Streak for 8th Day; Sensex and Nifty Close Higher for 2nd Straight Week

Market Update at 4:15 PM: Indian equity benchmark indices ended higher on Friday, September 12, marking their second straight week of gains. The Nifty 50 extended its winning streak for the eighth consecutive session, closing above the 25,100 mark, while the Sensex recorded its fifth day in the green.

At the closing bell, the Nifty 50 gained 108.50 points, or 0.43 per cent, to settle at 25,114, while the Sensex rose 355.98 points, or 0.44 per cent, to end at 81,904.71. Gains came on the back of global market cues, as softer US jobs data outweighed a hotter-than-expected inflation print, strengthening expectations of a potential Federal Reserve rate cut. The Nifty 50 index also closed above 25,100 for the first time in three weeks.

On the sectoral front, 8 out of 11 major indices ended in positive territory. 

The Nifty Metal index emerged as the top gainer with a rise of 0.93 per cent, led by Hindustan Copper and Hindustan Zinc. The IT index added around 0.3 per cent, supported by Infosys, which gained 1.05 per cent after the company approved its largest-ever share buyback worth Rs 18,000 crore at Rs 1,800 per share. On the other hand, the FMCG index declined 0.71 per cent, with 13 out of 15 constituents ending lower.

JBM Auto shares jumped 11 per cent after securing a long-term capital investment of USD 100 million from the International Financial Corporation (IFC). This development was seen as a strong boost for the company’s growth plans. 

In the Nifty 50 pack, ICICI Bank (+25.01 points), Bajaj Finance (+19.03 points), and Reliance Industries (+17.49 points) were the top contributors to the index’s rise. However, stocks such as Eternal (-9.59 points), Hindustan Unilever (-7.83 points), and Bharti Airtel (-5.59 points) acted as draggers.

The broader markets also closed in the green, with the Nifty Midcap 100 gaining 0.32 per cent and the Smallcap 100 advancing 0.64 per cent. Market breadth showed a slight positive tilt, as 1,561 stocks advanced against 1,483 declines, while 93 remained unchanged out of 3,145 stocks traded on the NSE.

A total of 79 stocks touched their 52-week highs, while 33 hit their 52-week lows. Additionally, 104 stocks were locked in their upper circuits, and 56 in lower circuits.

Market Update at 12:30 PM: India’s benchmark Nifty50 index extended its winning streak for the eighth consecutive session on Friday, staying on track to end the week on a firm note. The sustained momentum reflects continued buying interest across select Large-Cap and Mid-Cap counters, while Small-Cap stocks also participated in the move.

On the Sensex index, Bharat Electronics, Bajaj Finance, Maruti Suzuki, Axis Bank, L&T and Infosys emerged as the Top Gainers. On the other hand, HUL, NTPC, Zomato (Eternal), State Bank of India, Power Grid and Bharti Airtel were among the laggards, limiting broader gains in the market.

As of 12:00 AM, the BSE Sensex was trading at 81,944.83, higher by 396.10 points or 0.49 per cent. The Nifty50 also gained 118.40 points or 0.47 per cent to trade at 25,124.40.

In the broader market, the Nifty MidCap index added 0.25 per cent while the Nifty SmallCap index advanced 0.43 per cent. Investors continued to track opportunities in mid-cap and small-cap segments, which have been in focus this year on the back of Quarterly Results, dividends, bonus issues and IPO activity.

Among sectors, the Nifty Auto index stood out as the top gainer, rising 0.7 per cent, supported by stocks such as Maruti Suzuki. In contrast, the Nifty FMCG index was the biggest drag, down 0.62 per cent, as selling pressure weighed on key components.

Market Update at 10:15 AM: Indian shares opened higher on Friday, tracking global market strength as softer U.S. jobs data overshadowed hotter-than-expected inflation, boosting expectations of Federal Reserve rate cuts.

The Nifty 50 rose 0.28 per cent to 25,074.45, while the BSE Sensex gained 0.26 per cent to 81,758.95 as of 09:15 a.m. IST. Fifteen of the 16 major sectors advanced at the open, reflecting broad-based gains. The domestically focused small-cap and mid-cap indices rose 0.4 per cent each, indicating positive sentiment among investors looking at both emerging and mid-sized companies.

The IT index gained about 1 per cent, led by a 2 per cent rise in Infosys after the company approved its largest-ever share buyback of USD 2.04 billion at Rs 1,800 per share. The buyback price represents a premium of around 19.2 per cent over the last close, making Infosys a potential multibagger candidate for existing shareholders.

Investor sentiment was further supported by expectations of a U.S. rate cut next week and in the subsequent two meetings. Data showing softness in the U.S. labor market offset a rise in August inflation, making emerging markets like India attractive for foreign portfolio investors (FPIs), as lower Treasury yields and a softer dollar increase the appeal of large-cap, mid-cap, and small-cap stocks.

Pre-Market Update at 7:30 AM: On Friday, September 12, the Indian equity market is set for a positive start, tracking strength in global markets. As of 7:12 AM, the GIFT Nifty was trading near 25,180, up 73 points, suggesting a higher opening for the Sensex and Nifty 50.

US ambassador-designate to India Sergio Gor stated that India and the US are “not that far apart” on reaching a trade agreement. Union Minister Piyush Goyal indicated that the first tranche of the agreement is expected to be finalised by November 2025. This development holds importance for both large-cap and mid-cap companies with significant global exposure.

On Thursday, September 11, Foreign Institutional Investors (FIIs) were net sellers, offloading equities worth Rs 3,472.37 crore. In contrast, Domestic Institutional Investors (DIIs) remained net buyers for the 13th consecutive session, purchasing shares worth Rs 4,045.54 crore. The equity benchmarks extended their winning streak for the seventh session. The Sensex closed at 81,548.73, up 123.58 points or 0.15 per cent, while the Nifty 50 settled at 25,005.50, rising 32.40 points or 0.13 per cent.

Infosys unveiled its largest-ever buyback programme worth Rs 18,000 crore. The IT major will repurchase 10 crore fully paid-up equity shares, representing up to 2.41 per cent of its total equity share capital, at Rs 1,800 per share. This price carries a 19 per cent premium over the last BSE closing. Such corporate actions often impact investor sentiment, similar to dividends, bonus issues or rights issues, and are closely tracked across small-cap and large-cap segments.

In the US, all three major indices closed at record highs after inflation data releases. The Dow Jones gained 1.36 per cent to 46,108.00, the S&P 500 advanced 0.85 per cent to 6,587.47, and the Nasdaq rose 0.72 per cent to 22,043.08. US CPI rose 0.4 per cent in August, the largest monthly increase since January. Weekly jobless claims increased by 27,000 to 263,000, showing pressure in the labour market.

Gold prices extended gains for the fourth straight week, with spot gold at USD 3,637.06 per ounce, up 0.1 per cent. Bullion recorded a 1.4 per cent weekly rise. Crude oil declined on concerns of oversupply and weak demand. Brent crude fell 0.45 per cent to USD 66.07 a barrel, while WTI slipped 0.5 per cent to USD 62.06. The US dollar index weakened 0.28 per cent to 97.51 against key global currencies amid expectations of further rate cuts.

For today, RBL Bank and Oracle Financial Services Software will remain on the F&O ban list.

Disclaimer: The article is for informational purposes only and not investment advice.