Stock market today: The Indian stock market ended flat on Friday, September 5, on profit booking as concerns over Trump tariffs and their economic fallout, as well as sustained foreign capital outflow, continued to weigh on market sentiment.
Market benchmarks, the Sensex and the Nifty 50, opened higher but failed to hold gains despite positive global cues on expectations of a US Fed rate cut this month.
The Sensex slipped 7 points to end at 80,710.76, while the Nifty 50 ended at 24,741, up 7 points. The BSE Midcap index slipped 0.10 per cent, while the Smallcap index inched up by 0.09 per cent.
Indian stock market: 10 key highlights from the day
1. Why did the Indian stock market end flat?
The domestic market ended flat largely due to profit booking, as investors remain cautious and monitor developments on the US tariffs front.
There are no signs of US tariffs on Indian goods ending anytime soon, which is keeping sentiment low. The GST reforms are positive, but the market has already discounted them.
US President Donald Trump on Wednesday (September 3) said he had imposed secondary sanctions on India for buying Russian oil and warned of further steps, indicating that “phase two” and “phase three” were still on the table.
“Indian equities ended flat today, but sentiment stayed mildly positive as key indices rebounded from intraday lows on buying at support levels. Broader markets outperformed, with strong mid- and small-cap participation as domestic investors rotated into value and growth opportunities beyond large caps,” said Vinod Nair, Head of Research, Geojit Investments Limited.
“In the near term, markets are likely to remain range-bound, with a buy-on-dips, sell-on-rallies strategy guiding investor behaviour,” Nair said.
2. Top gainers in the Nifty 50 index today
Shares of Eicher Motors (up 2.41 per cent), Mahindra & Mahindra (up 2.34 per cent), and Shriram Finance (up 1.68 per cent) were the top gainers in the Nifty 50 index today.
Out of the total 50, 28 stocks ended in the green in the Nifty 50 index.
3. Top losers in the Nifty 50 index
Shares of ITC (down 1.92 per cent), Cipla (down 1.69 per cent), and HCL Technologies (down 1.61 per cent) ended as the top loser in the index.
4. Sectoral indices today
Nifty IT (down 1.44 per cent), FMCG (down 1.42 per cent), and Realty (down 1.16 per cent) ended with deep cuts.
On the other hand, Nifty Auto jumped 1.25 per cent. Nifty Metal (up 0.68 per cent) and Media (up 0.59 per cent) also ended with decent gains.
Nifty Bank ended with a nominal gain of 0.07 per cent, while the Financial Services index rose 0.14 per cent.
5. Most active stocks in terms of volume
Vodafone Idea (171.9 crore shares), Ola Electric Mobility (47.5 crore shares), and YES BANK (9 crore shares) were the most active stocks in terms of volume on the NSE.
6. 11 stocks jump over 15% on BSE
Barak Valley Cements, Venlon Enterprises, JITF Infralogistics, and PVP Ventures were among the 11 stocks that jumped more than 15 per cent on the BSE.
Conversely, Oasis Securities, Karnavati Finance, Frontier Capital, Jagjanani Textiles, and Optimus Finance were the five stocks that plunged over 10 per cent.
7. Advance-decline ratio
Out of 4,260 stocks traded on the BSE, 2,134 advanced, while 1,957 declined. Some 169 stocks remained unchanged.
8. 135 stocks hit 52-week highs
Mahindra & Mahindra, Eternal, and Cummins India were among the 135 stocks that hit their 52-week highs in intraday trade on the BSE.
9. 64 stocks hit 52-week lows
Vikram Solar, Raymond Realty, and Brand Concepts were among the 64 stocks that hit their 52-week lows on the BSE.
10. Nifty 50 technical outlook
According to Praveen Dwarakanath, Vice President of Hedged.in, the Nifty 50 is trading in a range of 24,500 – 24,900 and a break of this range can further decide the price action. The momentum indicators are in between the overbought and oversold regions, suggesting a rangebound move in the index.
“The GST council news on the reduced GST for multiple products cheered the market participants. However, the rally was immediately sold off, indicating a possible downside move in the index. Immediate support for the index is at 24500, a break of which can take the index towards the 24200 and 24000 levels,” said Dwarakanath.
According to Bajaj Broking, Nifty on the weekly chart has formed a bull candle with a similar open and low and a long upper shadow. The candle highlights buying demand at lower levels around the August low (24,337), while the long upper shadow signals selling pressure at higher levels.
“In the coming week, Nifty is likely to consolidate in the range of 24,400-25,000 amid stock-specific actions. On the higher side, a move above 25,000 levels will open further upside towards the key resistance area of 25200-25,250 levels,” said the brokerage firm.
“Immediate support is placed at 24,400-24,337 levels, being the confluence of the recent lows and the key retracement area. A breach below the same will signal acceleration of decline towards the key support area of 24,000 in the coming weeks, being the confluence of 52-week EMA and the previous major breakout area,” the brokerage firm added.
Read all market-related news here
Read more stories by Nishant Kumar
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.
