Sensex and Nifty End Higher Led by IT Stocks; Nifty Extends Rally for 5th Consecutive Day

Market Update at 4:00 PM: Benchmark indices ended with steady gains on Tuesday, supported by strong buying in IT stocks, mainly Infosys, after the IT major announced that its board will consider a share buyback in the meeting scheduled for September 11.

The BSE Sensex maintained a positive trend throughout the session and closed 314 points, or 0.4 per cent, higher at 81,101. The NSE Nifty50 advanced 95 points to settle at 24,869.

Infosys was the top gainer among the Sensex 30 stocks, rallying 5 per cent to Rs 1,504. The stock alone added 217 points to the benchmark index. Other Large-Cap gainers included Adani Ports, Tech Mahindra, HCL Technologies, TCS, and Bajaj Finserv, which moved up in the range of 1–3 per cent. On the downside, Trent, Eternal, and UltraTech Cement slipped 1–2 per cent each.

In the broader market, Mid-Cap and Small-Cap indices of NSE advanced by 0.3 per cent. The Nifty IT index was the best performer with a gain of 2.7 per cent, reflecting strong momentum in the sector. Meanwhile, the India VIX, a measure of market volatility, dropped 1.8 per cent during the day.

Despite headline indices closing higher, market breadth turned negative. Out of 3,105 stocks traded on the NSE, 1,514 ended in the red while 1,485 settled with gains, and 106 remained unchanged. A total of 108 stocks touched their 52-week highs, while 43 recorded fresh 52-week lows.

The total market capitalisation of all listed companies on the NSE stood at USD 5.11 trillion.

Market Update at 12:30 PM: Indian stock markets extended their winning streak for the fifth straight session on Tuesday, supported mainly by information technology stocks.

As of 12 PM, the BSE Sensex was trading at 81,019.76, up 68.10 points or 0.28 per cent, while the Nifty50 index stood at 24,842.20, higher by 64.95 points or 0.26 per cent. This trading session also marked the second weekly derivatives expiry for the Nifty index after its expiry day was shifted to Tuesday from Thursday, effective September 2025.

Among Sensex constituents, Infosys, Tech Mahindra, Adani Ports, HCL Tech, Bajaj Finserv and TCS emerged as the Top Gainers, advancing between 0.5 per cent and 4.5 per cent. On the other hand, Titan, Trent, Eternal, Tata Motors, Reliance Industries and UltraTech Cement were the major laggards.

In the broader markets, performance was mixed with the Nifty MidCap index declining 0.22 per cent, while the Nifty SmallCap index inched up 0.02 per cent. Investors continued to track movement in small-cap and mid-cap counters, particularly as companies prepare for Quarterly Results, bonus issues, right issues and dividend announcements in the upcoming weeks.

From a sectoral perspective, the Nifty IT index jumped 2 per cent, led by strong buying in Infosys shares, which surged nearly 3 per cent. The Nifty Media and Nifty Pharma indices also posted notable gains, adding strength to the large-cap space. On the contrary, the Nifty Auto index slipped 0.14 per cent on account of profit booking after gaining over 3 per cent in Monday’s session.

Market Update at 10:30 AM: India’s equity benchmarks opened on a strong note on Tuesday as global investors turned optimistic over the rising chances of a U.S. interest rate cut this month. The positive sentiment supported risk assets across emerging markets, including India.

At 09:15 a.m. IST, the Nifty 50 was up 0.4 per cent at 24,864.1, while the BSE Sensex advanced 0.4 per cent to 81,129.69. Gains were broad-based, with all 16 major sectoral indices trading in positive territory.

The broader indices also participated in the rally. Mid-cap stocks rose 0.2 per cent, while small-cap counters gained 0.3 per cent. Investors have increasingly turned to mid-cap and small-cap shares in recent sessions, with several delivering multibagger returns over the past year.

Information technology stocks led the morning gains, advancing 1.4 per cent. Infosys surged 3.4 per cent after the company announced that its board will consider a share buyback proposal. The move comes on the back of strong quarterly results and rising investor demand for capital returns, such as dividends and buybacks.

The global backdrop also played a role. Bets for a U.S. Federal Reserve rate cut at its September 16–17 policy meeting strengthened after economic data showed fewer-than-expected job additions in August. Lower U.S. interest rates generally make emerging markets like India more attractive for foreign portfolio investors, adding momentum to Indian equities.

Pre-Market Update at 7:45 AM: On Tuesday, September 9, the Indian equity markets are expected to open higher, following a positive trend in global markets. As of 7:04 AM, the GIFT Nifty was trading at 24,939, up 38 points. The optimism is supported by firm Asian markets and overnight gains in the US, where the Nasdaq Composite closed at a record high amid growing expectations of a Federal Reserve interest rate cut.

On Monday, September 8, Foreign Institutional Investors (FIIs) were net sellers, offloading equities worth Rs 2,170.35 crore. In contrast, Domestic Institutional Investors (DIIs) turned net buyers, purchasing shares worth Rs 3,014.30 crore.

The Indian equity benchmark indices ended Monday with marginal gains. The Nifty 50 rose 0.13 per cent to close at 24,773.15, while the BSE Sensex added 0.09 per cent to settle at 80,787.3. Both indices had gained as much as 0.5 per cent during the session. The Bank Nifty ended at 54,186.90 with similar gains. Sectorally, the auto index outperformed after companies announced price cuts following tax reductions, while weakness in IT stocks capped the upside. Mid-cap and small-cap stocks advanced between 0.16 and 0.5 per cent.

US markets closed higher on Monday, with the Nasdaq setting new intraday and closing highs. The Nasdaq gained 0.45 per cent to 21,798.70, while the S&P 500 added 0.21 per cent to finish at 6,495.15. The Dow Jones Industrial Average rose 114.09 points, or 0.25 per cent, to close at 45,514.95. Traders are awaiting key inflation data this week, which will guide the Federal Reserve’s rate decision.

Crude oil prices extended gains, supported by OPEC+’s modest output hike and concerns about possible sanctions on Russian oil. WTI crude futures rose to USD 62.4 per barrel, while Brent crude climbed to USD 66.1 per barrel. Meanwhile, the US dollar weakened, with the dollar index slipping to 97.344, its lowest since July 24.

Gold prices stayed firm, holding near record highs as investors expect a US Federal Reserve interest rate cut this month. Spot gold rose 0.1 per cent to USD 3,640.41 per ounce, close to its all-time high of USD 3,646.29 hit on Monday.

For today, RBL Bank, PG Electroplast and Titagrah Rail Systems will remain on the F&O ban list.

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