- Indian benchmark indices ended lower in the volatile session on September 3. At close, the Sensex was down 417.49 points or 0.55 percent at 76,152.86, and the Nifty was down 41 points or 0.17 percent at 23,873.45.
- Market breadth was positive with 2,453 shares advancing, 1,686 declining, and 178 unchanged. Top gainers on Nifty were Adani Ports, Axis Bank, HDFC Bank, Bharat Electronics, Asian Paints, while losers were Tech Mahindra, Cipla, Bajaj Auto, and M&M.
- Sectoral performance was mixed: auto, FMCG, IT, and Pharma each fell 0.5%, while the Realty index gained 2.5%, Media rose 1.7%, and PSU Bank and Private Bank each rose 0.5%.
- Broader markets outperformed, with the Nifty midcap index rising 0.37 percent and the smallcap index adding 1.2 percent.
- Technically, the Nifty opened gap-up but faced resistance near the lower band of the rising channel, forming a Dark Cloud Cover pattern on the daily timeframe, indicating potential near-term weakness.
- The Indian rupee ended 48 paise higher at 94.49 per dollar on Thursday versus the previous close of 94.97.
- Indian equities are likely to remain under pressure amid elevated crude prices, with Brent crude rising 1.6% to around USD 97/bbl, near its highest levels in over a month.
- The market's recovery attempt lost steam as supportive global cues and renewed FII inflows collided with lingering geopolitical tensions and elevated global yields. Banking and realty stocks provided leadership, while small-caps attracted investor interest.
Indian benchmark indices faced a downturn on September 3, with the Sensex dropping 417.49 points (0.55%) to close at 76,152.86 and the Nifty falling 41 points (0.17%) to 23,873.45.1
The session was marked by volatility, as IT and FMCG sectors struggled, while realty and banking stocks showed strength. Notably, the Realty index surged by 2.5%, and the Media index rose 1.7%, contrasting with declines in the auto, FMCG, IT, and Pharma sectors, each down 0.5%.3
Market dynamics were influenced by external factors, including elevated crude oil prices, which rose 1.6% to around USD 97/bbl, impacting investor sentiment. The Nifty midcap index increased by 0.37%, while smallcap stocks gained 1.2%, reflecting a cautious yet optimistic outlook among investors.
Despite the day's losses, banking and realty stocks provided leadership, indicating confidence in domestic growth prospects. However, the market's recovery was hindered by geopolitical tensions and high global yields, which continue to weigh on investor sentiment.
The Indian rupee also showed some strength, ending 48 paise higher at 94.49 per dollar compared to the previous close of 94.97.6
“Market breadth stayed positive with 2,453 advancing shares against 1,686 declines, while the Nifty midcap and smallcap indices rose 0.37% and 1.2%. Brent crude climbed 1.6% to around $97 per barrel, and the rupee strengthened 48 paise to 94.49 per dollar.”
