Indian benchmark indices recovered smartly from the day's low to end flat in a volatile session on September 5. The selling was seen in the FMCG, IT, and realty names, while buying in the auto, metal, media and consumer discretionary stocks helped to regains the intraday losses.
Amid positive global cues, the indices opened higher with Nifty hitting a high of 24,832.35 in the initial hours but failed to build on the gains and amid mid-session profit booking touched low of 24,621.60. However, it closed on flat note amid last hour buying.
At close, the Sensex was down 7.25 points or 0.01 percent at 80,710.76, and the Nifty was up 6.70 points or 0.03 percent at 24,741. BSE Midcap and Smallcap indices ended flat.
For the week, BSE Sensex and Nifty added 1.2 percent each.
Also Read: Indian rupee slips to fresh low of 88.3613 against dollar on likely foreign selling, tariff pressure
On the sectoral front, realty, FMCG, IT indices were down 1 percent each, while auto index was up 1.3 percent and media, metal were up 0.5 percent each.
M&M, Eicher Motors, Maruti Suzuki, Dr Reddy's Laboratories and Power Grid were among major gainers on the Nifty, while losers are ITC, TCS, Cipla, HCL Technologies, Cipla.
Also Read: Jane Street Vs SEBI case shifted to September 9 in SAT
In stock-specific action, Zydus Lifesciences shares gained on signing licensing agreement with Synthon, Vodafone Idea rallied 9 percent amid high volumes, RPP Infra Projects shared shed 5% despite orders win worth Rs 134.21 crore, Ola Electric shares slipped 7% after SoftBank sold 2% stake, Moschip Technologies shares rose 11% on semiconductor push.
More than 120 stocks touched their 52-week highs on the BSE, including GMDC, RBL Bank, Lemon Tree, M&M, Zydus Wellness, Eternal, HBL Engineering, Nykaa, L&T Finance, Muthoot Finance, Cummins India, CCL Products, among others. Click to View More
Outlook for September 8
Ajit Mishra – SVP, Research, Religare Broking
Markets traded in a narrow range and ended nearly flat on Friday. After a positive start, the Nifty slipped in the first half, weighed down by weakness in IT majors; however, resilience in select heavyweights supported a recovery as the session progressed. Eventually, it closed almost unchanged at 24,741.
Sector-wise, auto stocks outperformed, rising over 1% on optimism following reduced GST rates for vehicles. These gains were offset by weakness in consumer and IT counters, with IT reversing early strength to close lower by 1.3% amid global growth concerns. Meanwhile, mid- and small-cap indices posted modest gains of around 0.3% each.
Despite optimism around policy reforms and supportive domestic factors, markets appear to be entering a consolidation phase, cautious given lingering tariff concerns and persistent foreign institutional outflows. That said, trading opportunities remain across sectors. Participants are advised to align their positions accordingly, with a focus on risk management.
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