Sensex Rises 200 Points, Nifty Crosses 24,800; Swiggy Gains 2.5% as Auto and Metal Stocks Advance

Market Update at 9:40 AM: Indian stock markets were trading higher at open today, backed by buying in JSW Steel, Tata Steel, Tata Motors, M&M, Wipro, Adani Enterprises, and Eicher Motors. 

The benchmark BSE Sensex index was at 80,926, up 216 points or 0.27 per cent, and the Nifty50 index was at 24,802, rising 61 points or 0.25 per cent in early deals. 

In the broader markets, the Nifty MidCap index gained 0.4 per cent and the Nifty SmallCap index added 0.35 per cent. 

Among sectors, the Nifty Metal index rallied 1.25 per cent, followed by the Nifty Auto index (0.75 per cent), and the Nifty Realty index (0.77 per cent). On the downside, the Nifty Pharma index fell 0.4 per cent.

Market Update at 8:00 AM: Indian equities are poised for a positive opening on Monday, with GIFT Nifty trading 76 points higher at 24,918.5 as of 7:18 AM, tracking gains in Wall Street futures and strength across Asian markets.

Key Catalysts Supporting the Positive Start

• US Rate Cut Expectations: Investors are eyeing the US Fed meeting on September 17, with the Street largely pricing in a 25-basis point cut. A bigger 50-basis point move could be on the table depending on this week’s inflation numbers. The US PPI will be released Wednesday, followed by CPI on Thursday.
• US-India Trade Talk: In Washington, President Donald Trump reassured that India–US ties remain strong, calling the partnership “special” and brushing aside concerns over bilateral relations.
• FTA Talks: India and the European Union begin the 13th round of Free Trade Agreement (FTA) negotiations today, aiming to fast-track a deal that could lift investor sentiment.

Key Domestic Events to Watch This Week

• Urban Company IPO: The Rs 1,900-crore issue opens on September 10 and closes September 12.
• Inflation Data: The government will release August CPI numbers on September 12, an important cue for RBI’s policy outlook.

Institutional Flows

• FIIs: Net sellers on Friday, offloading equities worth Rs 1,304.91 crore.
• DIIs: Net buyers, absorbing Rs 1,821.23 crore worth of shares, offsetting selling pressure of the FIIs.

Friday’s Action on Domestic Market

Benchmark indices closed mixed after a volatile session. The Nifty gained 6.7 points (0.03 per cent), while the Sensex slipped 7.25 points (0.01 per cent). Sector-wise, Nifty Auto advanced 1.25 per cent, whereas IT and FMCG fell over 1.4 per cent each.

US Markets – Friday Action

Wall Street ended in the red after a disappointing August jobs report. The Dow lost 0.5 per cent, the S&P 500 slipped 0.3 per cent, and the Nasdaq edged down 7.3 points. Job additions came in more than 70% below estimates, pushing the unemployment rate to its highest level since 2021.

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

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