Closing Bell: Nifty near 24,800, Sensex up 70 pts; auto, metal, realty gain

Indian equity indices ended with marginal gains in the volatile session on September 8. At close, the Sensex was up 76.54 points or 0.09 percent at 80,787.30, and the Nifty was up 32.15 points or 0.13 percent at 24,773.15.

We wrap up today's edition of the Moneycontrol live market blog, and will be back tomorrow morning with all the latest updates and alerts. Please visit https://www.moneycontrol.com/markets/global-indices for all the global market action.

Gold took positive cues with gains of $28 at $3615 on COMEX and Rs 300 at Rs 1,08,000 on MCX, after last week’s weak Non-Farm Payrolls data strengthened expectations of a Fed rate cut in the upcoming meeting.

Tariff uncertainties along with firm rate cut expectations continue to provide strong support to Gold.

This week, US CPI and Core CPI data will play a key role in guiding trend and volatility. Key support for Gold is seen at $3560 / Rs 1,06,500, while resistance is placed at $3650 / Rs 1,09,500.

Markets started the week on a positive note and ended with modest gains amid mixed cues. After opening firm above the 24,800 mark, the Nifty gradually moved higher through the day; however, sharp profit-taking in the final hour trimmed the gains. On the sectoral front, autos,realty and metals were among the performers, while IT and FMCG lagged. Broader markets displayed resilience, with the Nifty Midcap and Smallcap indices closing modestly higher—underlining sustained interest in the wider universe.

Investor sentiment was supported by the GST rate cut tailwinds and dovish signals from the US Federal Reserve, which bolstered rate-cut hopes after weak US jobs data. Easing geopolitical risks and optimism around India’s domestic economic outlook also lent support to select sectors. However, persistent foreign institutional selling and speculation over potential restrictions on IT services exports capped the upside. Fund flows reflected a tug-of-war between FII outflows and robust DII buying, a typical feature of markets at an inflection point.

On the index front, we expect the prevailing tussle to end only with a decisive breakout above the 25,000 mark on the Nifty, while the 24,400–24,600 zone should act as a cushion. We suggest closely tracking the performance of banking and IT majors for the next directional move in the index. Meanwhile, traders should continue to focus on other sectors that are holding firm and participating on a rotational basis.

Today, Indian stock markets closed higher note, with both the Sensex and Nifty ending in positive territory, primarily driven by strong buying in auto, PSU Banks, metal stocks. The benchmark Sensex settled up by 76 points, while the Nifty closed above the 24,770 mark, gaining 32 points or 0.13% for the day, after swinging between 24,751 and 24,885 during intraday trade.

Key gainers included Mahindra & Mahindra, Tata Motors, Adani Ports, Maruti Suzuki, while sectors like automobiles stood out with the Nifty Auto index surging 3.30%. In contrast, IT, healthcare, and consumer durables saw some profit booking and underperformed the broader markets, but positive momentum in power and energy also supported the indices.

The main driver for today’s gains was renewed optimism over domestic growth, persistent inflows into auto counters as demand prospects improved, and supportive cues from Asian markets. Going forward, the market’s tone remains cautiously optimistic.

After witnessing a sustainable recovery from the lows on Friday, Nifty encountered hurdle around 24900 levels on Monday and showed profit booking from the highs and closed with the gains of 32 points.

A small red candle was formed on the daily chart with long upper shadow. Technically, this market action indicates a consolidation movement in the market with volatility. Though, buying is emerging from the lows, the market is finding stiff resistance of around 24900-25000 levels (down sloping trend line on the daily chart and previous weekly highs). However, Nifty manages to close above the daily 10/20-day EMA around 24730 levels.

The underlying trend of Nifty remains positive with choppy movement. Having placed below the crucial overhead resistance around 24900-25000 levels, there is a possibility of some more consolidation or minor weakness in the next 1-2 sessions. Immediate support is placed at 24620. A decisive upside above 25000 is likely to open sharp buying in the market.

The domestic market failed to sustain its early gains as a late-session sell-off reflected the prevailing “buy-on-dips, sell-on-rallies” strategy, highlighting investor caution. Auto and ancillary stocks continued to rally on expectations of demand recovery following GST rate cuts, while IT remained weak amid global uncertainties.

Globally, sentiment improved after soft U.S. jobs data raised hopes of a Fed rate cut in September. However, renewed concerns over sanctions on Russian oil pushed crude prices higher, and gold extended gains as trade-related uncertainties sustained demand for safe-haven assets.

Indian equity indices ended with marginal gains in the volatile session on September 8.

At close, the Sensex was up 76.54 points or 0.09 percent at 80,787.30, and the Nifty was up 32.15 points or 0.13 percent at 24,773.15.

BSE Midcap and smallcap indices up 0.5% each.

Tata Motors, JSW Steel, Eicher Motors, M&M, Bajaj Auto are among major gainers on the Nifty, while losers are Trent, SBI Life Insurance, Asian Paints, IndusInd Bank, Tech Mahindra.

On the sectoral front, Auto index rose 3%, oil & gas, PSU Bank, metal up 0.5% each, while IT index shed 0.5%.

#1 Expect domestic steel prices to expand as demand improves

#2 China anti-involution theme is also gaining traction

#3 Global macro factors are turning favourable

#4 Raise steel price estimates by 3 percent each for FY27/28

#5 Expect select steel stocks to outperform overall India materials space over next few months

#6 Upgrade JSW Steel to overweight call, target price raised to Rs 1,300

#7 Upgrade Tata Steel to overweight call, target price raised to Rs 200

#8 Upgrade SAIL to equal-weight call, target price raised to Rs 140

#9 Maintain equal-weight on Jindal Steel, target price raised to Rs 1,150

#1 Revenue run-rate USD 130–150 mn, utilisation 50 percent

#2 EBITDA margin in low-teens, can reach 20 percent medium term

#3 Payment: USD 138 million paid, USD 43 mn due FY27 & USD 44 mn due FY29

#1 Gen 3 scooter platform & better service infra to support 30–35 percent market share in India’s growing E-2wheeler market

#2 Focus shifts to 5 GWh in-house cell production versus 20 GWh earlier

#3 Auto business EBITDA breakeven expected in FY26

#1 Food delivery business is on a steady profitability path & a key cash generator

#2 Quick commerce: challenger position remains, but profitability is likely to improve

#3 Company is well-funded for scaling QC further, with a low risk of dilution

#4 Macro slowdown could pose a risk to growth assumptions for the online FD business

SpiceJet has successfully completed the full payment of USD 24 million to Credit Suisse, thereby fulfilling in entirety the terms of the settlement agreement signed between the two parties in May 2022.

#1 CEAT acquires Camso’s OHT business from Michelin for USD 225 mn, adding construction & rubber track exposure

#2 USD 138 mn paid, balance over 2–3 years

#3 Current revenue run-rate is USD 130–150 mn, but near-term weakness likely amid transition to independent manufacturing

#4 Debt to rise Rs 1,000–1,200 crore by FY26, yet leverage seen comfortable with strong FCF

The Board of Directors in its meeting held today has appointed Mr. Amitabh Kant as an Additional Director to hold office as an Independent Director on the Board of the Company for a term of five consecutive years w.e.f. September 8, 2025 to September 7, 2030.

#1 Emerged as highest bidder for JP Associates with Rs 16,100 crore offer on staggered payments

#2 Assets include: real estate, cement, power, fertilizer, hospitality, E&C

#3 Key uncertainties: COC Choice, timelines, diversification, asset monetisation, land legal status, funding

#4 Uncertainty around this news could create an overhang on the stock

#1 Bharti Airtel raised stake in company by 0.26 percent via open-market buys (Aug 25 – Sep 1)

#2 Payout deferral concerns drove stock correction, but Bharti’s stake hike signals confidence & limits downside

#3 Risk/reward looks attractive

The Sensex was up 334.27 points or 0.41 percent at 81,045.03, and the Nifty was up 109.8 points or 0.44 percent at 24,850.80. About 2240 shares advanced, 1502 shares declined, and 129 shares unchanged.

The U.S. FDA has conducted a product-specific Pre-Approval Inspection (PAI) at the Company’s Chhatrapati Sambhajinagar (Aurangabad) manufacturing facility from September 01 to September 05, 2025. The inspection closed with two observations.

The United States Food & Drug Administration (USFDA) completed a GMP inspection at our API Mirfield facility in West Yorkshire, UK. The inspection was conducted from September 1 to September 5, 2025 and issued a Form 483 with 7 observations.

The company board recommended for issue of bonus shares in the ratio of 3:5 i.e. three new fully paid-up equity shares of Rs 10 each for every five existing fully paid-up equity share of Rs 10 to the eligible equity shareholders of the company as on record date, subject to approval of the shareholders of the company, by capitalization of capital redemption reserve and / or securities premium and / or general reserve.

#1 Subsidiary ILJIN electronics to raise Rs 1,200 crore via equity & CCPS from multiple investors

#2 Funds aimed at organic & inorganic growth

#3 Likely Use: Capex on bare PCBs & HDI PCBs

#4 Key monitorable: Valuation of the transaction

Vikram Solar was quoting at Rs 354.25, up Rs 31.40, or 9.73 percent.

It has touched an intraday high of Rs 356.65 and an intraday low of Rs 330.05.

In the previous trading session, the share closed up 0.31 percent or Rs 1.00 at Rs 322.85.

The share touched a 52-week high of Rs 381.70 and a 52-week low of Rs 312.50 on 26 August, 2025 and 05 September, 2025, respectively.

Currently, the stock is trading 7.19 percent below its 52-week high and 13.36 percent above its 52-week low.

Market capitalisation stands at Rs 12,813.83 crore.

Shareholders have approved the re-appointment of Rahul Agrawal as Chief Executive Officer and Whole-Time Director of the company for a period of five years, effective December 31, 2025.

The company has signed a Memorandum of Understanding (MoU) with VOC Port Authority to set up a green hydrogen fueling station at VOC Port, along with hydrogen-based internal combustion engine trucks for port operations.

The Board has approved the issuance of 1,17,64,705 warrants, convertible into equivalent equity shares, at Rs 425 per warrant, amounting to Rs 500 crore through preferential allotment to promoters, promoter group, and non-promoters of the company.

#1 Camso benefits likely visible by FY27-28

#2 Near-term focus on integration challenges, long-term potential intact

#3 GST cut makes Ceat a key beneficiary of OE demand uptick & high replacement exposure, driving margin tailwinds

The company has executed a share purchase agreement for the acquisition of 100% equity shares of AK Renewable Infra, for an enterprise value of Rs 79.25 crore.

#1 Food delivery on a steady growth path and improving profitability

#2 Quick commerce: Contribution margin is bottoming out, inventory-led model to aid margin expansion

#3 Key risks: Slowdown in FD & competition in QC

#4 We assign 40x FY28 EV/EBITDA to the FD business & A 1.2x EV/GOV to the QC business

The Board approved the execution of a Securities Purchase Agreement for the acquisition of Base Buildwell, a project SPV holding license and development rights over a 7.25-acre land parcel at Golf Course Extension Road, Gurugram.

The acquisition will result in Base Buildwell becoming a wholly owned subsidiary of the company.

The Sensex was up 360.05 points or 0.45 percent at 81,070.81, and the Nifty was up 116.45 points or 0.47 percent at 24,857.75.

The Board has approved the appointment of Riddharth Jain as the Chief Executive Officer (CEO) of the company, effective September 6.

Ujjivan Small Finance Bank (Ujjivan SFB) has charted out its strategic roadmap to achieve a Gross Loan Book (GLB) of ₹1 Lakh Crore by FY30, building upon

the progress made since receiving its small finance bank licence in 2017.

The company announced a new capacity addition of 61,000 KL at Mumbai Port, with an investment of Rs 99.88 crore.

The company has executed a Business Transfer Agreement with Giriraj Enterprises and/or its partners for the purchase of a 6.65 MW solar power plant at Solapur, Maharashtra, owned by Giriraj Enterprises, on a slump sale basis on a going concern basis, for Rs 16 crore.

Himanshu Shah has resigned as Chief Financial Officer of the company, effective September 6, to pursue a new professional opportunity outside the organization.

Ratnamani Metals & Tubes has executed a Share Purchase Agreement with Technoenergy AG, Switzerland, to purchase its entire shareholding (40,000 shares of euro 10 each, at a purchase price of euro 4,00,000) in Ratnamani Trade EU AG, Switzerland.

With this, Ratnamani Trade EU AG shall become a wholly owned subsidiary of the company.

The company has entered a Memorandum of Understanding (MoU) with the promoters of Ebullient Packaging for the acquisition of a 74% equity stake.

EPPL is valued at an estimated enterprise value of approximately Rs 200 crore.

#1 Vedanta emerges as highest bidder for Jaiprakash Associate assets at Rs 17,000 crore

#2 Deal not final, COC decision in around 2 months

#3 NCLT approval could take 8–10 months, Rs 4,000 crore upfront payment due post-approval

#4 Focus likely on core power business, with monetisation of other assets

#5 Diversification into unrelated businesses amid deleveraging priority remains a concern

The Sensex was up 217.64 points or 0.27 percent at 80,928.40, and the Nifty was up 75.4 points or 0.30 percent at 24,816.40. About 2223 shares advanced, 1385 shares declined, and 166 shares unchanged.

Shareholders have approved the appointment of Vipul Joshi as the Whole-time Director of the company, effective September 6, for a period of five years.

Diamond Power has received a letter of intent from Adani Energy Solutions for supply of 4,215 KM AL-59 Zebra Conductor for Khavda IV-D Project worth Rs. 184,66,57,855.

ACME Solar has placed an order of 2 GWh of Battery Energy Storage System (BESS) with leading global energy system supplier - Chuzhou Lishen New Energy Technology Co., Ltd through POSCO International Corporation and China FAW Group Import and Export Co., Ltd. Posco International is a global integrated business company based in Korea, and Green Energy is the one of the key focused business sector.

The order will be delivered in phases over next six to ten months and would be deployed across ACME Solar’s FDRE (Firm & Dispatchable Renewable Energy) and standalone BESS projects, scheduled for commissioning over the next 12 to 18 months.

The company has received a Letter of Intent for the procurement of solar power under the Mukhyamantri Saur Krushi Vahini Yojana 2.0 for 147 MW from Maharashtra State Electricity Distribution Co (MSEDCL), for setting up grid-connected solar power projects at multiple locations in Maharashtra.

The Sensex was up 110.38 points or 0.14 percent at 80,821.14, and the Nifty was up 0.19 percent at 24,787.70. About 2369 shares advanced, 1123 shares declined, and 178 shares unchanged.

#1 Q1FY26 EBITDAR at Rs 1,230 crore versus Rs 280 crore YoY on lower ASKM, PLFs, higher CASK

#2 ASKM down 28 percent YoY on fleet reduction

#3 Yields up 2 percent YoY

#4 Fleet expansion likely delayed despite Rs 3,000 crore QIP & lessors restructuring

#5 Revival gradual post-QIP, turnaround key monitorable

#6 FY26E/27 EBITDAR cut by 14 percent each on delayed recovery

The company, through its overseas wholly owned subsidiary, has secured export orders worth USD 40.65 million (equivalent to Rs 358.38 crore) for the supply of optical fiber cables.

One Mobikwik Systems was quoting at Rs 322.35, up Rs 28.75, or 9.79 percent.

It has touched an intraday high of Rs 325.90 and an intraday low of Rs 292.35.

In the previous trading session, the share closed up 5.01 percent or Rs 14.00 at Rs 293.60.

The share touched a 52-week high of Rs 698.30 and a 52-week low of Rs 218.85 on 26 December, 2024 and 29 August, 2025, respectively.

Currently, the stock is trading 53.84 percent below its 52-week high and 47.29 percent above its 52-week low.

Market capitalisation stands at Rs 2,519.24 crore.

The company, through its various step-down subsidiaries, has operationalised 87.5 MW power projects at Khavda, Gujarat.

With the commissioning of these plants, the company’s total operational renewable generation capacity has increased to 16,078 MW.

Sanjay Gupta has resigned as Chief Financial Officer of the company due to personal reasons, effective October 15.

Welspun Living was quoting at Rs 114.30, up Rs 0.35, or 0.31 percent.

It has touched an intraday high of Rs 114.90 and an intraday low of Rs 113.00.

It was trading with volumes of 24,155 shares, compared to its five day average of 174,461 shares, a decrease of -86.15 percent.

In the previous trading session, the share closed up 1.70 percent or Rs 1.90 at Rs 113.95.

The share touched a 52-week high of Rs 188.35 and a 52-week low of Rs 105.00 on 11 September, 2024 and 28 February, 2025, respectively.

Currently, the stock is trading 39.32 percent below its 52-week high and 8.86 percent above its 52-week low.

Market capitalisation stands at Rs 10,963.11 crore.

Vikram Solar has announced a major order win of 336 MW high-efficiency solar modules from L&T Construction. These modules will be deployed in Khavda, Gujarat, a region where the company has already made significant contributions.

As part of this order, Vikram Solar will supply its advanced Hypersol G12R modules, based on N-type technology.

Vikram Solar was quoting at Rs 345.25, up Rs 22.40, or 6.94 percent.

It has touched an intraday high of Rs 347.85 and an intraday low of Rs 330.05.

It was trading with volumes of shares, compared to its five day average of shares, a decrease of percent.

It was trading with volumes of shares, compared to its thirty day average of shares, a decrease of percent.

In the previous trading session, the share closed up 0.31 percent or Rs 1.00 at Rs 322.85.

The share touched a 52-week high of Rs 381.70 and a 52-week low of Rs 312.50 on 26 August, 2025 and 05 September, 2025, respectively.

Currently, the stock is trading 9.55 percent below its 52-week high and 10.48 percent above its 52-week low.

Market capitalisation stands at Rs 12,488.28 crore.

Rachit Prints shares made a weak stock market debut on the BSE on September 8 to list at 20 percent discount. The Rs 19.49-crore IPO, which was open for subscription between September 1 and 3, was subscribed nearly 2 times.

Shares of Rachit Prints were listed at Rs 119.20 per share on the SME platform of the BSE, a discount of of 20 percent over it's issue price. The price band was fixed at Rs 140 - 149 per share. The company's total market capitalization post listing of shares stood at Rs 58.85 crore. Read More

Bharat Forge was quoting at Rs 1,186.70, up Rs 49.25, or 4.33 percent.

It has touched an intraday high of Rs 1,190.00 and an intraday low of Rs 1,142.95.

It was trading with volumes of 41,737 shares, compared to its five day average of 15,724 shares, an increase of 165.44 percent.

In the previous trading session, the share closed up 0.46 percent or Rs 5.25 at Rs 1,137.45.

The share touched a 52-week high of Rs 1,628.50 and a 52-week low of Rs 919.10 on 13 September, 2024 and 07 April, 2025, respectively.

Currently, the stock is trading 27.13 percent below its 52-week high and 29.12 percent above its 52-week low.

Market capitalisation stands at Rs 56,734.78 crore.

Bharat Heavy Electricals (BHEL) plans to develop a railway locomotive that runs on hydrogen fuel cells to generate electricity.

It announced a long-term MoU with Singapore-based Horizon Fuel Cell Technologies.

BHEL will have a 10-year exclusive agreement with Horizon to create this new domestic market segment.

Servotech Renewable Power System has entered into an exclusive strategic partnership with Zhuhai Piwin New Energy Co., Ltd.

(Pilot Group), China. The collaboration will focus on technology support and local manufacturing of advanced Battery Energy Storage Systems (BESS) in India, fully aligned with the Government’s ‘Make in India’ mission.

Adani Power has signed a shareholders’ agreement with Bhutan’s state-owned utility Druk Green Power Corp (DGPC) for setting up a 570 MW hydroelectric project at Wangchhu in Bhutan.

The company and DGPC will jointly incorporate a public company (with 49:51 shareholding) in Bhutan to undertake the project.

The Sensex was up 219.45 points or 0.27 percent at 80,930.21, and the Nifty was up 0.30 percent at 24,814.45. About 1934 shares advanced, 1136 shares declined, and 196 shares unchanged.