The Indian stock market benchmarks ended with modest gains, while the mid- and small-cap segments suffered significant losses on Thursday, September 4. Positive sentiment surrounding mega GST reforms fizzled out, and concerns over lingering US tariffs and persisting foreign capital outflow dominated sentiment.
The Sensex ended 150 points, or 0.19 per cent, higher at 80,718, while the Nifty 50 settled at 24,734.30, up 19 points, or 0.08 per cent. The BSE Midcap and Smallcap indices fell 0.60 per cent each.
The overall market capitalisation of BSE-listed firms dropped to nearly ₹451.4 lakh crore from ₹452.8 lakh crore in the previous session, making investors poorer by over ₹1 lakh crore in a single session.
Indian stock market: 10 key highlights from the day
1. Why did the Indian stock market end on a laclustre note?
The GST reforms are seen as major positives for the economy as they may boost consumption and accelerate economic growth. However, some experts see these reforms as long-term positives and not an immediate trigger.
The impact of GST cuts will be reflected in earnings only after the third quarter of the current financial year.
The market’s focus is on the persisting concerns over US tariffs and FII outflows, which have led to a recent ‘sell-on-rise’ trend.
“After a promising start, the domestic market closed almost flat as profit booking emerged across the market except for consumption-oriented beneficiary sectors such as auto, finance, and FMCG. In-line outcome of GST rationalisation and ongoing tariff threats from the US exerted a negative impact on the market today,” said Vinod Nair, Head of Research, Geojit Investments Limited.
“The GST 2.0 reforms strengthen the case for a consumption-led recovery, with auto and consumer staples expected to benefit the most. That said, the broader outlook stays vulnerable to global macro uncertainties, continued FII outflows, and persistent US tariff headwinds,” said Ajit Mishra, SVP- Research, Religare Broking Ltd.
“In the near term, consolidation in the benchmark index cannot be ruled out. Hence, we recommend maintaining selective exposure to structurally strong themes while keeping a close eye on the risk–reward equation,” said Mishra.
2. Top gainers in the Nifty 50 index today
Shares of Mahindra and Mahindra (up 5.90 per cent), Bajaj Finance (up 4.10 per cent), and Apollo Hospitals (up 2 per cent) were the top gainers in the Nifty 50 index today.
3. Top losers in the Nifty 50 index
As many as 31 stocks ended in the red in the Nifty index among which HDFC Life Insurance Company (down 2.82 per cent), Tata Consumer (down 2.75 per cent), and IndusInd Bank (down 1.71 per cent) lost the most.
4. Sectoral indices today
The majority of sectoral indices ended with losses due to profit booking.
Nifty PSU Bank (down 1.11 per cent), Oil and Gas (down 0.96 per cent), IT (down 0.94 per cent), Realty (down 0.78 per cent), and Metal (down 0.62 per cent) ended with significant losses.
Nifty Bank ended flat, while the Financial Services index rose 0.47 per cent. The Auto index ended with a healthy gain of 0.85 per cent.
5. Most active stocks in terms of volume
Vodafone Idea (79.52 crore shares), Ola Electric Mobility (74.72 crore shares), and YES BANK (10 crore shares) were the most active stocks in terms of volume on the NSE.
6. Nine stocks jump over 15% on BSE
Gretex Corporate Services, Cropster Agro, Karnavati Finance, Ekennis Software Service, and Atul Auto were among the nine stocks that jumped more than 15 per cent on the BSE.
7. Advance-decline ratio
Out of 4,280 stocks traded on the BSE, 1,809 advanced, while 2,325 declined. Some 146 stocks remained unchanged.
8. 141 stocks hit 52-week highs
Maruti Suzuki India, TVS Motor Company, UltraTech Cement, Mahindra & Mahindra, Eicher Motors, Marico, and Cummins India were among the 141 stocks that hit their 52-week highs in intraday trade on the BSE.
9. 50 stocks hit 52-week lows
Imagicaaworld Entertainment, GSS Infotech, and Gem Aromatics were among the 50 stocks that hit their 52-week lows on the BSE.
10. Nifty 50 technical outlook
According to Rupak De, Senior Technical Analyst at LKP Securities, the daily close of the Nifty 50 was just below the 21 EMA, indicating a continuation of weakness, although the index appears to be nearing a potential trend reversal.
“A decisive move above 24,750 could provide the strength needed for the Nifty to move towards 25,000. A sustained move above 25,000 could trigger a further rally. On the other hand, failure to close above 24,750 within the next two to three days may lead to renewed selling pressure on the index,” said De.
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Disclaimer: This story is for educational purposes only. The views and recommendations expressed are those of individual analysts or broking firms, not Mint. We advise investors to consult with certified experts before making any investment decisions, as market conditions can change rapidly and circumstances may vary.
