Market Commentary Mid Session News Details

Nifty trades above 24,850; European mkt advance

(08-Sep-25   13:30)

The headline equity benchmarks traded with decent gains in afternoon trade, driven by optimism after the GST Council announced big tax cuts. At the same time, weak U.S. job numbers raised hopes that the Federal Reserve will cut interest rates, helping to boost the market. The Nifty traded above the 24,850 mark.

Auto, metal and realty shares advanced while IT, consumer durables and FMCG stocks declined.

At 13:30 IST, the barometer index, the S&P BSE Sensex gained 355.02 points or 0.44% to 81,058.17. The Nifty 50 index rose 115.85 points or 0.47% to 24,857.35.

The broader market outperformed the frontline indices. The S&P BSE Mid-Cap index rose 0.69% and the S&P BSE Small-Cap index jumped 0.54%.

The market breadth was positive. On the BSE, 2,431 shares rose and 1,699 shares fell. A total of 185 shares were unchanged.

Gainers & Losers:

Mahindra & Mahindra (up 3.90%), Tata Motors (up 3.60%), Eicher Motors (up 3.28%), Bajaj Auto (up 3.25%) and JSW Steel (up 3.11%) were the major Nifty50 gainers.

SBI Life Insurance Company (down 1.14%), Nestle India (down 1.32%), Asian Paints (down 1%), Trent (down 0.99%) and Dr Reddy's Laboratories (down 0.70%) were the major Nifty50 Losers.

Stocks in Spotlight:

Hero MotoCorp advanced 2.57% after the company announced the appointment of Harshavardhan Chitale as its chief executive officer, effective from Monday, 5th January 2026.

Spicejet slipped 3.31% after the airline company reported a standalone net loss of Rs 235.08 crore in Q1 FY26 compared with net profit of Rs 149.95 crore in Q1 FY25. Revenue from operations tumbled 34% YoY to Rs 1,033.36 crore in Q1 June 2025.

Highway Infrastructure dropped 4.85% after the company announced the resignation of Ankit Tandon from the position of chief executive officer (CEO), effective 5 September 2025.

Diamond Power Infrastructure rose 0.38%. The company announced that it has secured an order worth Rs 184.66 crore from Adani Energy Solutions for the supply of 4,215 km of AL-59 zebra conductor for the Khavda project.

Welspun Living added 0.75%. The company said that Sanjay Gupta has resigned from the position of chief financial officer (CFO) of the company, effective 15 October 2025, citing personal reasons.

SPML Infra shed 0.99%. The company announced that it has secured a Rs 1,438 crore order in a joint venture with JWIL Infra (SPML leading with 51%) from the Public Health Engineering Department (PHED), Bharatpur, Rajasthan.

Global Markets:

European market advanced as market focus turns to France's imminent confidence due to take place later in the session.

Investors will be keeping a close eye on France on Monday, as French Prime Minister Francois Bayrou is widely expected to lose a confidence vote. Bayrou called for the vote himself after ongoing wrangling with rival political parties over around 44 billion euros ($51.5 billion) worth of budget cuts.

Most Asian markets advanced on Monday as investors keeping an eye on important regional data releases scheduled this week.

Japanese Prime Minister Shigeru Ishiba resigned on Sunday, ushering in a potentially lengthy period of policy uncertainty at a shaky moment for the world's fourth-largest economy.

As per reports, Koizumi Shinjiro, the agricultural minister and son of a former prime minister, is a likely contender to take the helm. Meanwhile, Takaichi Sanae, protege of the late Prime Minister Abe Shinzo and a runner-up in last year's party contest, is also a key contender, the reports added.

Japan's economy grew at a much stronger pace than earlier estimated in the second quarter, supported by upward revisions in private consumption and inventories. Revised data from the Cabinet Office on Monday showed GDP expanding at an annualized 2.2% in the April'June period, up from the 1.0% reported on 15 August 2025. On a quarterly basis, growth was revised to 0.5% from the initial 0.3%.

Oil prices were in focus after OPEC+ announced over the weekend it will lift oil production again starting in October, though the group is slowing the pace of hikes. In an meeting on Sunday, eight OPEC+ members agreed to lift production by 137,000 barrels a day starting in October, far below the increases of around 555,000 bpd in September and August, and 411,000 bpd in July and June.

Last Friday in the U.S., all three major averages closed lower after a weaker-than-expected jobs report gave way to worries about a slowing economy, even as expectations for a Federal Reserve rate cut were solidified.

The S&P 500 finished down 0.32% at 6,481.50, while the Nasdaq Composite declined 0.03% to settle at 21,700.39. The Dow Jones Industrial Average closed down 220.43 points, or 0.48%, at 45,400.86.

The U.S. job growth slowed sharply in August, pushing the unemployment rate to 4.3%'its highest level in nearly four years. The data underscored the softening labor market and strengthened expectations for a Federal Reserve rate cut later this month.

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